(Alliance News) - Piazza Affari continues to move in negative territory in mid-day Tuesday, along with Paris and Frankfurt, shortly after the release of PMIs from major countries and the Eurozone.

The FTSE Mib is down 0.5 percent to 27,180.62, as is the Mid-Cap to 42,805.71 while the Small-Cap rises with 0.2 percent to 28,006.63 and Italy Growth gains 0.1 percent to 9,185.23.

In Europe, London's FTSE 100 is up 0.2%, Paris' CAC 40 gives up 1.0% and Frankfurt's DAX 40 loses 0.1%.

The euro area manufacturing PMI then fell to 44.6 points in May from 45.8 points in April while the manufacturing production PMI contracted to 46.3 points from 48.5 points in the previous month. Both indicators remained below 50.0 points, which separates contraction from expansion in activity.

In contrast, the services PMI dropped to 55.9 points from 56.2 points a month earlier, but still signaled growth for the sector.

On the main list in Piazza Affari, Banca Monte dei Paschi di Siena does best with a 2.8 percent rise, followed by DiaSorin in the green by 1.1 percent, and Saipem, up 1.0 percent.

CNH, up, does well, up 0.8% while Iveco now gives up 1.7%.

Mediobanca is in the red by 0.5% on the day after it signed an agreement with Banca Ifis -- down 0.8% on the Mid-Cap -- to enter into a long-term partnership to manage impaired loans.

According to the agreement, Banca Ifis will take over from Mediobanca, for a consideration of EUR100 million, Revalea Spa, a company created in 2022 from the spin-off of NPLs resulting from the acquisition of non-performing loan portfolios, a business that is no longer among Mediobanca Group's core activities.

"The partnership has a strong industrial value as it consolidates the positioning of Banca Ifis as a reference operator in the market of impaired loans in the small tickets unsecured segment and allows MBCredit Solutions, a company of the Mediobanca Group and specialized in credit management, to focus on the core business of management and recovery being able to count on constant business volumes for the coming years," the Ifis note reads.

At the bottom are Moncler, Ferrari, and Leonardo, which give up 3.2 percent, 2.9 percent, and 1.4 percent, respectively.

On the Mid-Cap, Juventus gives up 0.3 percent after opening down 1.4 percent. Yesterday, the club received a ruling from the Court of Appeal of the Italian Football Federation (Federazione Italiana Giuoco Calcio) penalizing it by 10 points in the standings. Acquitted, however, were the seven executives for whom the federal prosecutor had requested eight months of inhibition.

"The club awaits the publication of the grounds and reserves the right, in defense of its interests, to consider an appeal to the Collegio di Garanzia dello Sport, within the terms provided by the Sports Ordinance," is the only comment released by the club.

MFE-MediaForEurope shares fall, pending the first quarter accounts: A shares give up 0.9 percent and B shares drop 1.4 percent.

At the tail end is Brunello Cucinelli, which loses 3.8 percent.

Among the small-cap companies, Somec gives up 0.4 percent. The company announced Tuesday that its U.S. subsidiary Fabbrica has won new orders in the U.S. totaling USD13.8 million, which will be carried out in collaboration with Somec's Mestieri division, "thus benefiting from the important synergies fostered by belonging to the group," the company explained.

Banca Profilo--up 3.8 percent--reported Tuesday that parent company Arepo BP and Twenty First Capital, a French alternative investment fund management company and limited partner and portfolio manager of the French-law fund Fonds Archimedes, have reached a conditional binding agreement to buy and sell a number of Banca Profilo shares held by Arepo equal to 29 percent of its share capital, net of treasury shares.

Esprinet rises to the top with 4.3 percent after announcing on Monday, for mere deflationary purposes of a potential long-lasting tax dispute, that it has signed an agreement with the Internal Revenue Service aimed at settling out-of-court the disputes raised on VAT in relation to tax periods from 2013 to 2017.

Based on the reached tombale agreement, the company will have to pay a total amount of approximately EUR33.2 million and, therefore, against a total original claim of more than EUR220 million, the company will bear an actual burden, in terms of VAT and related penalties, of less than 14% of this claim, plus accrued interest. The amounts due will be paid by the company in installments over a maximum of five years, with equal quarterly payments.

Giglio Group slumps, down 11 percent after rising 35 percent yesterday, with the querelle over the auditing firm and judgment on the latest financial statements continuing to hold sway.

On the alternative capital market of the Italian stock exchange, Alfonsino rises 13%% after reporting that first-quarter revenues rose 9% year-on-year to EUR1.2 million from EUR1.1 million in the same period a year earlier.

The company also reported that the figure for the total number of orders, at approximately 132,779, is down 7% from the previous year, when 142,162 orders were recorded, a function of the estimated 6% growth in the average shopping cart - to EUR24.07 from EUR22.81 - and revenue per order, which stood at EUR9.20 from EUR7.91, resulting in a 16% improvement.

Agatos gave up 1.0 percent after reporting that it closed 2022 with a reduced net loss to EUR3.7 million from EUR13.2 million in liabilities the previous year.

On the other hand, value of production rose to EUR17.3 million or 14% from a year earlier in the first fiscal year in which Caraterra Società Agricol, which wholly owns Caraverde Energia, which was taken over in August 2021, was consolidated.

Eles gains 2.7 percent. The company ended the first quarter with revenues of EUR6.3 million, up 36 percent from the same period last year. On a like-for-like consolidation basis, thus taking into account the acquisition of Campera Electronics Systems Srl from January 2022, they rise to EUR4.9 million or 6 percent from EUR4.7 million as of March 31, 2022.

In addition, the Eles board decided to appoint illimity Bank as Euronext Growth Advisors and MIT SIM as operator specialist, removing BPER Banca from both positions.

In New York, the Dow closed Monday down 0.4 percent to 33,286.58, the Nasdaq gained 0.5 percent to 12,720.78 and the S&P 500 finished just above par at 4,192.63.

Among currencies, the euro changed hands at USD1.0792 versus USD1.0800 at Monday's close. In contrast, the pound is worth USD1.2410 from USD1.2424 last night.

Among commodities, Brent crude is worth USD75.95 per barrel versus USD76.00 per barrel on Monday evening. Gold, on the other hand, trades at USD1,959.46 an ounce from USD1,974.15 an ounce on Monday night.

On Tuesday's macroeconomic calendar, overseas, at 1545 CEST, it is the turn of the U.S. composite, services and manufacturing PMI index.

By Chiara Bruschi, Alliance News reporter

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