(Alliance News) - At mid-day Tuesday, major European indexes march into negative territory, with Piazza Affari below 34,500. Purchases are affected by weak data in China and German inflation. Investors are now setting their eyes on U.S. inflation and the ECB's decision regarding interest rates.

The eurozone economy continues to suffer from fragility, exacerbated by political uncertainty in France and Germany and geopolitical risks related to the election of Donald Trump. ECB President Christine Lagarde expressed concern in a parliamentary hearing, warning of a possible slowdown in growth in the coming months and stressing that downside risks prevail over the medium-term outlook.

Thus, the FTSE Mib gives up 0.3 percent to 34,450.68, the Mid-Cap is down 0.1 percent to 47,993.48, the Small-Cap is down 0.3 percent to 28,389.95, and Italy Growth is down 0.3 percent to 7,772.75.

In Europe, London's FTSE 100 is in the red by 0.6 percent as is Paris' CAC 40, while Frankfurt's DAX 40 is back 0.1 percent.

On the macroeconomic front, in Italy, Istat estimates that industrial production in October remained stable compared to September, while in the average of the August-October quarter it fell by 0.7 percent. The note from the National Institute of Statistics was released Tuesday.

Back in Milan, on Piazza Affari's largest-capitalization list, best mid-session performance for DiaSorin, up 0.9 percent, in its second bullish session.

Fine FinecoBank, up 0.8% to EUR16.735, at a new 52-week high.

Telecom Italia loses opening momentum and is in the green at the 0.3% mark at EUR0.2432. On the stock it is reported that BOfA raised its target price to EUR0.37 from EUR0.35 previously. Barclays upgraded the stock to 'overweight' from 'equal weight' with target price at EUR0.32.

Stellantis--in the green by 0.4 percent--announced a business plan for the future of Italian factories, proposing a pact with component companies to tackle the green transition together, according to a Tuesday report by Repubblica.

Jean-Philippe Imparato, head of Europe at Stellantis, said Italy is central to the group's strategy, with Mirafiori at the center of production. The plant will continue to produce the Fiat 500, including the hybrid in 2025 and the new electric generation in 2032-33, with an estimated increase of 100,000 cars.

Meanwhile, Tim Kuniskis, a longtime Marchionne-era manager, is returning to Stellantis to take over the Ram Truck brand, a few months after he retired in May, Milano Finanza reported Tuesday.

Enel gives up 0.2 percent to EUR6.91. Flavio Cattaneo, chief executive officer of Enel and vice chairman of Endesa, increased the total value of his holdings of shares in the two companies to about EUR32.0 million, according to Il Messaggero in Tuesday's edition.

Generali -- in the red by 0.4 percent -- acquired Palazzo Carciotti in Trieste, the historic insurance headquarters, for EUR13.2 million.

Snam, down 0.5 percent, announced Tuesday the subscription of a new Sustainability-linked revolving credit facility for a total amount of EUR4.00 billion, with an option to increase to EUR1.10 billion.

Mediobanca Private Banking, a division of the Mediobanca Group -- in the red by 0.7 percent -- raised EUR484.0 million for an innovative real estate co-investment program developed in collaboration with Mediobanca SGR and UBS Asset Management, Il Sole 24 Ore reported Tuesday.

At the bottom of the main list, Leonardo zeroes out its opening gains and gives up 1.3 percent, after ending Monday's session in the red by 4.8 percent. The possible cut announced by President-elect Trump to military aid for Ukraine weighs on the stock.

On the Mid-Cap, Anima Holding rose 1.1 percent in mid-session after the Caltagirone group increased its stake from 3.2 percent to 5.3 percent, consolidating Italian control over the asset management company that administers EUR205.2 billion, Corriere della Sera reported Tuesday.

Fincantieri - in the red by 1.3 percent - announced the relaunch of its Foundation with new missions, including defense of cultural heritage, innovation and social inclusion, renewing its board of directors.

OVS - in the red by 1.8 percent - submitted a bid to take over Conbipel, a historic clothing chain with 130 stores and about 800 employees, Corriere della Sera reported Monday.

Still buying for Digital Value, up 4.6 percent in its sixth bullish session, continuing the positive performance of the past 30 days.

Among the opening bearishers are WIIT and GVS, with declines between 1.7 percent and 2.7 percent.

On the Small-Cap, Beghelli's flight continues, up 42% to EUR0.329 per share. Gewiss announced Tuesday that it had entered into a preliminary purchase and sale agreement with Mr. and Mrs. Beghelli, committing to buy a 75.04% stake in Beghelli's share capital.

Olidata was good, up 4.5 percent at the start, with the stock at a thirty-day high.

On the bottom EPH and doValue each give up 6.7 percent.

Among SMEs, ESI is among the best bullish performers, up 7.7 percent. The stock thus takes its performance over the past thirty days into the green, attempting a recovery after falling 11 percent over the past six months and 31 percent over the past year.

Among the bullish Ucapital24 rises 6.7 percent and Omer gains 5.2 percent.

Circle, in the green by 0.5 percent, announced the signing of the grant agreement of the eFTI4ALL project, a major European initiative to improve the digitization of freight transport with the aim of facilitating the implementation of the eFTI regulation.

In New York, the Dow closed 0.5 percent in the red, the Nasdaq lost 0.6 percent as did the S&P 500.

Among currencies, the euro changed hands at USD1.0533 from USD1.0586 in Monday's European equities close. The pound is worth USD1.2759 versus USD1.2779 on Monday evening.

Among commodities, Brent crude is worth USD71.79 per barrel from USD71.78 at Monday night's close. Gold trades at USD2,696.14 an ounce from USD2,677.81 an ounce on Monday evening.

Tuesday's macroeconomic calendar predicts, from the US, US private sector productivity data will arrive at 1430 CET, 25 minutes before the Redbook. At 2230 CET, room for weekly oil stocks.

By Antonio Di Giorgio, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.