(Alliance News) - Piazza Affari continued downward on Tuesday, with the Mib falling around the 34,200 level, underperforming most other European exchanges.

Trading floors continue to assess the election result for the European Parliament and the resulting political uncertainty across the Old Continent, focusing on the outlook for monetary policy and the Fed's decision, scheduled for tomorrow.

Thus, the Mib is giving up 1.0 percent to 34,212.93, the Mid-Cap is retreating 0.5 percent to 47,852.72, the Small-Cap is in the red 0.4 percent to 29,164.26 while Italy Growth is down 0.4 percent to 8,164.84.

In Europe, London's FTSE 100 is in the red by 0.5 percent, while Paris' CAC 40 gives up 0.4 percent as does Frankfurt's DAX 40.

On the Mib, Poste Italiane rises 0.7 percent, after 0.3 percent in the red in the previous session. It is worth noting that the company announced Monday that it had bought back its own shares during the day for a total value of EUR3.0 million. Poste has thus concluded a first tranche of the share buyback program, implemented under the authorization resolved by the shareholders' meeting on May 31, 2024.

At the top of the list Amplifon is advancing 1.6 percent with new price at EUR34.18 per share, following eve's 1.1 percent decline.

Good purchases also on Brunello Cucinelli, which marks a plus 0.5%, rearing its head after three sessions closed with bearish candle.

At the tail end, however, Banco BPM is giving up 3.1 percent, following up the eve's decline with 1 percent. Of note, the stock in the annual time frame is up nearly 70 percent.

Moncler, on the other hand, is giving up 2.1 percent, in its third session with a bearish candle.

On the cadet segment, The Italian Sea Group is moving up 1.6 percent. The company announced that its board of directors has resolved to co-opt Simona Del Re, appointing her as company president until the next shareholders' meeting.

For Digital Value, on the other hand, the rise is 1.9 percent, in position for its third session to close on a positive balance.

SAES Getters is flat at EUR27.70. SGG Holding reported that it has raised its offer on shares of SAES Getters as part of the tender offer launched last month. The new takeover bid price is EUR28.00, up from EUR26.30 per share offered earlier.

Iren gives up 1.3 percent. The company announced Monday that it has signed with the Council of Europe Development Bank a EUR80 million green-format Public Finance Facility loan, usable in several tranches with a term of up to 16 years, which will be used to finance part of Iren's water infrastructure investment plan in the provinces of Genoa and La Spezia.

At the tail end, Italmobiliare is stepping back 4.7 percent to EUR29.20 per share, in the aftermath of a 3.4 percent green.

On the Small-Cap, Conafi is advancing 6.4%, with new price at EUR0.2320 after two bearish sessions.

Greenthesis--flat at EUR2.24--reported Monday that the temporary grouping of companies, of which it is the group leader with a stake of about 40 percent, has signed a contract with Invitalia Spa for a total project of about EUR269 million. The temporary business grouping also includes Eni Rewind Spa, Sirai Srl, Vianini Lavori Spa, Semataf Srl and Consorzio Stabile Grandi Lavori Scrl.

doValue--green by 2.2 percent--reported Tuesday that the Madrid High Court of Justice ruled in its favor, rejecting Altamira Asset Management Holding SL's attempt to annul an earlier decision requiring it to make a payment to doValue related to a tax claim. As a result of this decision, the doValue group will record financial income of EUR22.7 million, the company's note says, which will have a positive impact on first-half net income of about EUR0.28 per share

Piquadro, on the other hand, falls 4.0%, after two sessions chiyuse with bullish candle. The company on Monday approved the draft financial statements for the fiscal year from April 1, 2023 to March 31, 2024 and the consolidated financial statements to March 31, 2024, reporting a 62 percent increase in profit to EUR10.5 million from EUR6.5 million a year earlier. Revenues amounted to EUR185.5 million up from EUR177.6 million a year earlier.

Among SMEs, Clabo advances 4.3 percent to EUR2.19 per share, following two sessions closed among the bearish.

In contrast, E-Globe advances 2.9 percent, rearing its head after three sessions among the bearish.

SolidWorld Group gives up 8.9 percent. The company announced Monday in the evening that its board of directors has approved a capital increase by issuing a maximum of 811,250 new ordinary shares at EUR2.8 each and a maximum of EUR2.3 million.

In contrast, Ecomembrane gives up 4.0 percent, pricing itself at EUR6.00. The stock in the 52-week interval has moved in a price range between EUR4.96 touched last April, and a high of EUR10.15 recorded in July 2023.

Planetel gives up 0.8 percent. The company announced Monday that it has started the EUR1.8 million buyback program. The plan will last up to 18 months, and MIT SIM Spa has been appointed to carry it out.

In New York overnight Europe, the Dow closed up 0.2 percent at 38,868.04, the Nasdaq gained 0.4 percent to 17,192.53, and the S&P 500 was in the green by 0.3 percent at 5,360.79.

Among currencies, the euro changed hands at USD1.0767 from USD1.0746 on Monday in closing European equities while the pound is worth USD1.2720 from USD1.2727 on Monday evening.

Among commodities, Brent crude trades at USD81.52 per barrel from USD81.12 per barrel at Monday's close. Gold, on the other hand, trades at USD2,304.15 an ounce from USD2,304.60 on Monday evening.

On Tuesday's macroeconomic calendar, the monthly OPEC report will be released at 1300 CEST while, at 1900 CEST, an auction of 10-year US Treasury notes is scheduled.

Finally, at 2230 CEST, coming up is the weekly oil stocks data.

By Maurizio Carta, Alliance News reporter

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