(Alliance News) - The Mib Tuesday closed lower in the 31,000 area, failing to maintain the bullish trend seen after the bell rang and extending the previous day's heavy losses as trading floors continue to assess the economic outlook.

On the political front, Kamala Harris has chosen Minnesota Governor Tim Walz as her running mate, banking on the fact that she can appeal to working-class voters in the swing states of the Midwest to secure a Democratic victory in the November presidential election.

Among the economic data, according to Eurostat's first estimates released Tuesday, the volume of retail trade fell 0.3 percent in June compared to May in the euro area, more than expectations of a 0.1 percent decline and bucking May's 0.1 percent increase.

Thus, the FTSE Mib closed down 0.6 percent to 31,107.13, the Mid-Cap closed up fractionally to 44,559.76, the Small-Cap advanced 0.6 percent to 27,662.16, and Italy Growth closed up 0.5 percent to 7,786.84.

In Europe, Paris' CAC 40 finished down 0.4 percent, London's FTSE 100 advanced 0.1 percent, and Frankfurt's DAX 40 closed 0.1 percent in the red.

On the Mib, good session for Nexi, which advanced 2.5% after two sessions closed with bearish candles.

Banca Monte Paschi Siena took the top spot with an 8.7 percent rise, holding the list's lead from the opening after reporting Tuesday that it closed the first half of the year with a profit of EUR1.16 billion, up 87 percent from EUR619.0 million in the same period a year earlier. In addition, the board of directors, along with the half-year results, also approved the 2024-2028 business plan. The plan forecasts 2024 revenues at EUR3.84 billion and EUR4.06 billion in 2028; operating expenses of EUR1.87 billion in 2024 and EUR2.03 billion in 2028 while gross operating income is expected at EUR1.97 billion in 2024 and EUR2.02 billion in 2028.

Banca Mediolanum - in the red by 0.3 percent - reported July trading results on Tuesday. Total net inflows amounted to EUR674.0 million and EUR6.34 billion since the beginning of the year. Net inflows in assets under management amounted to EUR1 billion, and EUR4.09 billion since the beginning of the year.

Ferrari, on the other hand, gave up 1.5 percent, following eve's decline with 1.3 percent, with new price at EUR382.00.

Sales also on Pirelli, which closed down 1.7 percent, in its fifth bearish session with new price at EUR5.20 per share.

FinecoBank - down 1.3 percent - on Tuesday disclosed that in July net inflows reached EUR755 million, up 55 percent from EUR486 million a year ago, "confirming the investment orientation of a further accelerating clientele that uses the platform to meet all financial needs," the company wrote in the note.

On the cadet list, boost on Alerion, which rose 7.1 percent, breaking a six-session downtrend.

Also good was Ferretti, which pushed up 3.1 percent after three sessions ended among the bearish.

Credito Emiliano - down 0.7 percent - closed down for the fourth session in a row. It reported Monday that it closed the first half with a profit of EUR323.8 million from EUR298.7 million as of June 30, 2023. During the period, net interest income amounted to EUR617.9 million from EUR539.7 million in the first half of 2023, while net interest and other banking income amounted to EUR1.03 billion from EUR968 million in the same period last year.

Also on a negative note was Tinexta, which left 4.1 percent on the parterre, in its fourth consecutive session among the bearish.

On the Small-Cap, Beewize gave up 5.8 percent to EUR0.65, subject to profit taking after four sessions ended with bullish candles.

Aeroporto Guglielmo Marconi Di Bologna - down 0.8 percent - on Monday reported that in July passengers exceeded 1.1 million for the first time, compared to the same month in 2023, making it the month with the highest level of passenger traffic in the airport's entire history.

Sales - among others - also prevailed on Eurogroup, which depreciated 2.3 percent after a 1.6 percent red on the eve of the event following accounts released Friday. Profit for the period in the first half of 2024 reached EUR17.9 million, down 4.4 percent from EUR18.8 million in the first half of 2023.

Landi Renzo -- in the money with 2.5 percent -- reported Monday that it closed the 2023 fiscal year with a loss of EUR35.2 million, from a liability of EUR14.3 million recorded as of Dec. 31, 2022. Consolidated revenues for 2023 amounted to EUR303.3 million, up from EUR306.3 million a year earlier.

Among SMEs, purchases on Allcore, which closed up 8.5 percent, rebounding after four sessions of negative balance.

DBA Group, on the other hand, advanced 7.9 percent, rebounding after four sessions on the bearish side.

Next Geosolutions Europe - down 0.3 percent - on Tuesday announced the acquisition of 100 percent of the share capital of Subonica Srl, a company that offers underwater surveying and inspection services using ROV, Remotely Operated Robotic Vehicles. The total investment amounts to EUR530,000.00.

Valica - flat at EUR4.56 - announced Monday the purchase of 100 percent of Parallelozero Srl for EUR330,000. Parallelozero is a communications agency specializing in strategic consulting for the digital market and in the conception, production and distribution of original editorial and cross-media content, with solid experience in issues related to energy transition, technological innovation, sustainability and climate change crisis.

In New York, the Dow is advancing 0.9 percent, the Nasdaq is advancing 1.3 percent, and the S&P 500 is picking up 1.4 percent.

Among currencies, the euro changes hands at USD1.0926 against USD1.0962 on Monday's European stock close while the pound is worth USD1.2693 from USD1.2752 on Monday evening.

Among commodities, Brent crude is trading at USD76.80 per barrel from USD76.18 per barrel at Monday's close. Gold, on the other hand, trades at USD2,385.13 an ounce from USD2,406.00 an ounce on Monday evening.

Wednesday's macroeconomic calendar includes at 0800 CEST from the UK the release of the Halifax house price index, then Germany's trade balance and industrial production.

At 1300 CEST, the mortgage report is due from the US, while at 1630 CEST the crude oil stocks figure, EIA report and Cushing's inventory will be released instead.

At 2130 CEST, however, a speech by McCaul of the ECB is scheduled.

On the corporate calendar, results from AbitareIn, doValue, illimity Bank, Interpump Group and Piovan are expected.

By Maurizio Carta, Alliance News reporter

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