(Alliance News) - The Mib moves lower in the 31,000 area Tuesday, 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.

Among the economic data, according to Eurostat's first estimates released Tuesday, the volume of retail trade declined by 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 trades down 0.8 percent to 31,056.57, the Mid-Cap is giving up 0.5 percent to 44,322,, the Small-Cap is advancing fractionally to 27,489.11, and Italy Growth is up 0.6 percent to 7,791.97.

In Europe, Paris' CAC 40 is down 0.6 percent, London's FTSE 100 is giving up 0.4 percent, and Frankfurt's DAX 40 is in the red by 0.3 percent.

On the Mib, good session for Nexi, which moves ahead 2.8% after two sessions closed with bearish candles.

Banca Monte Paschi Siena takes the top spot with a 7.0% rise, after reporting Tuesday that it closed the first half of the year with a profit of EUR1.16 billion, up 87% from EUR619.0 million in the same period last year. In addition, the board of directors, along with the half-year results, also approved the 2024-2028 business plan. The plan calls for 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.

Ferrari, on the other hand, is giving up 2.7 percent on the heels of the eve's 1.3 percent decline.

FinecoBank - down 1.0 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 by a further accelerating client base that uses the platform to meet all financial needs," the company wrote in the note.

Banca Mediolanum - down 0.4 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.

On the cadet list, boost on Alerion, which moves up 3.8 percent, breaking a six-session downtrend.

Also good is Ferretti, which pushes up 2.9 percent after three sessions ended among the bearish.

Credito Emiliano -- up 1.5 percent -- on Monday reported 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.

On a negative note, Tinexta is leaving 3.4 percent on the parterre, positioning itself toward its fourth session to close among the bearish.

On the Small-Cap, Beewize is giving up 3.6 percent to EUR0.6650, subject to profit taking after four sessions ended with bullish candle.

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, becoming the month with the highest level of passenger traffic in the airport's entire history.

Sales - among others - also prevailed on Eurogroup, which depreciated 3.6 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 3.1 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 the SMBs, purchases on Allcore, which rises 5.5 percent, rebounding after four sessions of negative balance.

DBA Group, meanwhile, advances 5.2%, rebounding after four sessions on the bearish side.

Next Geosolutions Europe - up 0.2 percent - announced Tuesday 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 Asia, the Nikkei rallied 10 percent, the Hang Seng gave up 0.3 percent, and the Shanghai Composite rallied 0.2 percent.

In New York on European night, the Dow closed 2.6 percent in the red, the Nasdaq lost 3.4 percent, and the S&P 500 finished down 3.0 percent.

Among currencies, the euro changed hands at USD1.0913 against USD1.0962 on Monday's European stock close while the pound was worth USD1.2703 from USD1.2752 on Monday night.

Among commodities, Brent crude is trading at USD76.39 per barrel from USD76.18 per barrel at Monday's close. Gold, on the other hand, trades at USD2,414.39 an ounce from USD2,406.00 an ounce on Monday evening.

Tuesday's macroeconomic calendar includes at 1430 CEST, from the States, the release of the trade balance, while at 2230 CEST the weekly oil stocks report will be released.

By Maurizio Carta, Alliance News reporter

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