(Alliance News) - On Tuesday, major European stock markets continue trading in negative territory, with Milan doing worst of all and where on the Mib no stock is in the black.

Thus, the FTSE Mib is down 1.7 percent to 33,381.78, while in Europe, London's FTSE 100 is giving up 1.5 percent, Paris' CAC 40 is in the red by 1.2 percent, and Frankfurt's DAX 40 is giving up 1.4 percent.

Among smaller listings in Milan, the Mid-Cap is giving up 1.6 percent to 46,186.17, the Small-Cap is down 1.2 percent to 27,719.61, and Italy Growth is giving up 1.3 percent to 7,985.71.

In macroeconomic news, in March, Istat estimates that Italy's national consumer price index, before tobacco products, registered a parity compared to the 0.1 percent increase in February.

On a year-over-year basis, Italian inflation rises again to 1.2 percent, revised from the preliminary estimate that saw it at 1.3 percent, up from 0.8 percent in February 2023.

Also in Italy on the trade balance, Istat estimates cyclical growth in February for both foreign trade flows, stronger for imports at 5.1 percent than for exports at 3.8 percent.

The estimated trade balance in February is EUR6.0 billion compared to EUR2.09 billion in February 2023 and well above the estimates of EUR3.44 billion.

The energy deficit - equal to EUR3.74 billion - is reduced from a year earlier, when it was EUR5.78 billion.

In the eurozone, first estimates of the eurozone trade balance show a EUR23.6 billion surplus in goods trade with the rest of the world in February, compared to EUR3.6 billion in February 2023 and from EUR11.6 billion in January 2024, revised from EUR11.4 billion.

The ZEW indicator of economic sentiment for the Eurozone rose 10.4 points to 43.9 in April, the highest since February 2022 and above market expectations of 37.2.

Back on the Mib, Prysmian gives up 2.6 percent after announcing Monday that it has entered into a merger agreement under which it will acquire Encore Wire for USD290.00 per share. The price per share of USD290.00 represents a premium of about 20 percent to the 30-day weighted average as of Friday's date and about 29 percent to the 90-day weighted average as of the same reporting date. The transaction values Encore Wire at about EUR3.9 billion.

FinecoBank is giving up 2.5 percent, after 0.6 percent green in the previous session, while at the bottom sits Stellantis, in the red by 3.1 percent.

Inwit - in the red by 1.0% - reported Monday that it had bought back its own ordinary shares between April 8 and 12 for a total consideration of EUR3.9 million.

Banca Monte dei Paschi di Siena -- in the red by 1.7 percent -- reported Monday that rating agency DBRS Ratings GmbH raised the bank's ratings by two notches. DBRS raised the standalone intrinsic assessment rating, the long-term issuer rating and the long-term senior debt rating to 'BB (high)' from 'BB (low)' and the long-term deposit rating to 'BBB (low)' from 'BB.' The subordinated debt rating was upgraded by three notches to 'BB (low)' from 'B (low)'.

Terna -- down 1.2 percent -- announced Monday that it had signed an amendment and restatement agreement to increase the amount of the ESG-linked revolving credit facility to EUR2.26 billion. The credit facility had been signed in May 2023 for EUR1.81 billion, entered into with a pool of financial institutions as joint mandated lead arrangers: Intesa Sanpaolo, BNP Paribas, Banco Santander, Cassa Depositi e Prestiti, UniCredit and SMBC.

On the Mid-Cap, Intercos is giving up 2.2 percent, after reporting Monday that the board of directors confirmed Renato Semerati as CEO.

Ludovica Arbella, on the other hand, was confirmed as executive director, to whom the board gave respective powers.

OVS--which is in the red by 1.4 percent--reported on Monday that between April 8 and 12 it purchased 1.4 million of its own ordinary shares for the average unit price of EUR2.2969 and a total value of EUR3.3 million. Thus, the company holds 35.5 million shares or 12 percent of the share capital.

Arnoldo Mondadori Editore - in the red by 1.1 percent - announced Monday that an agreement has been signed for the acquisition by its subsidiary Rizzoli International Pubblications of 100 percent of the share capital of Chelsea Green Publishing in Vermont in the U.S., and, in the UK, through its subsidiary Chelsea Green Publishing UK.

On the Small-Cap, Bastogi rises 4.2 percent after it reported Friday that it ended 2023 with a net profit of EUR2.9 million, which compares with the previous year's figure of EUR32.4 million. Italy's oldest company still in business reported EBITDA of EUR16.5 million from EUR54.5 million a year earlier.

BF -- up 1.1 percent -- reported Monday that its 2023 production value rose to EUR1.39 billion from EUR1.12 billion a year earlier. The figure is almost in line with the estimated 2023 production value of EUR1.40 billion. The recorded growth, which is attributable not only to the different period of inclusion in the scope of consolidation of consolidated companies but also to integration effects with investee companies, discounts a general deflationary trend.

Somec ceded 2.4 percent after it reported Tuesday that its Mestieri division, design and creation of custom interiors, won 8

prestigious orders worth a total of about EUR33 million.

The contracts concern projects for renowned high-end brands and cover a variety of sectors: from retail to naval, from museum fittings to private residential construction. The latter is an area in which Mestieri is involved in an order of great value and prestige on the East Coast of the USA.

Among SMEs, boost on Alfonsino, which is up 10 percent, rebounding after two sessions in which it closed with heavy selling.

Redelfi - in the red by 6.5 percent - and Anthilia Capital Partners SGR on Tuesday announced that they have signed a financing agreement totaling EUR15 million through the Anthilia Must, Anthilia BIT III and Anthilia BIT IV Co-Investment Funds.

In New York last night, the Dow closed down 0.7 percent, the Nasdaq fell 1.8 percent, and the S&P 500 left the parterre 1.2 percent.

Among currencies, the euro changed hands at USD1.0629 from USD1.0627 on Monday in European equities closing while the pound was worth USD1.2441 from USD1.2450 on Monday evening.

Among commodities, Brent crude is worth USD89.84 per barrel from USD89.29 on Monday evening and gold trades at USD2,386.75 from USD2,338.38 last night.

Tuesday's macroeconomic calendar includes from the U.S., data on building permits, due at 1430 CEST, and data on industrial production, expected at 1515 CEST on a day packed with incoming comments from several Federal Reserve members. At 2230 CEST, we close with weekly oil inventories.

By Claudia Cavaliere, Alliance News reporter

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