(Alliance News) - European stock markets continued their bullish session in the second weekly session. Among the data that attracted the attention of trading floors, final Eurozone inflation data confirmed a slight acceleration in inflation to 2.6 percent in May, while ZEW economic sentiment for Germany disappointed expectations.

The Bank of England will decide on monetary policy later in the week, widely expected to confirm the rate at the current level of 5.25 percent. Markets, are beginning to price, albeit tentatively, the possibility of a cut for the August meeting. Traders currently expect an easing of more than 25 basis points in November, but a cut for September appears increasingly likely.

There is also an easing of concerns about the possible victory of right-wing parties in the upcoming French parliamentary elections. As we approach the vote-which will be held between June 30 and July 7-European financial markets are likely to face a period of uncertainty. The main concerns relate to voter turnout and the possibility that the major players will form coalitions. The most likely scenario is that Marine Le Pen's National Rally becomes the leading party in France. Since 2017, Le Pen's party has softened its anti-EU stance and no longer calls for a "Frexit."

However, her election could aggravate France's deficit, which reached 5.5 percent of GDP last year and prompted S&P Global to recently downgrade France's sovereign credit rating to AA-.

Thus, the FTSE Mib is marking a 1.1 percent rise to 33,264.24 points.

In Europe, London's FTSE 100 is advancing 0.5 percent, Paris' CAC 40 is up 0.3 percent, and Frankfurt's DAX 40 is marking a 0.5 percent gain.

Among the smaller lists, the Mid-Cap is advancing 0.5 percent to 46,887.11, the Small-Cap is up 0.4 percent to 28,638.83, while Italy Growth is advancing 0.2 percent to 8,071.01.

On the blue chip list, Recordati is picking up 3.1 percent by rearing its head after three sessions with bearish candle and with new price at EUR48.90 per share.

High quarters also for Leonardo, with the defense company moving ahead 3.0% on the heels of last night's green of 2.8%. Of note, Marshall Wace on Monday trimmed its short position on the stock to 1.21% from 1.18% previously.

Advancing UniCredit, which appreciates 2.6% with new price at EUR34.00, on the heels of eve's green with 1.9%.

STMicroelectronics trades in the green by 1.2% at EUR40.22 per share. On the stock it is mentioned that Goldman Sachs revised the target price to ER45.50 from the previous EUR33.00.

BPER Bank, on the other hand, advances 0.9 percent. DBRS Morningstar on Monday revised from Stable to Positive the trend of the long-term and short-term issuer ratings and Senior Debt ratings. "This positive rating action rewards the growing ability to generate profitability, improved operational efficiency and a lower cost of credit," the company explained in a note.

Nexi -- up 1.7 percent -- announced Monday that between June 10 and June 14 it bought back 4.8 million of its own ordinary shares at an average price of EUR6.5.9439 and a total value of EUR28.5 million. Thus, the company holds 14.2 million treasury shares or 1.1 percent of the share capital.

Among the few bearish performers, Moncler was heavy, marking a bearish candle of 3.8 percent, after the 0.9 percent positive balance last night.

On the MidCap, Maire Tecnimont advances 3.0% to EUR7.15 per share, rearing its head after three sessions in bearish balance.

OVS's buyback program continues, rising 2.6% to EUR2.72 per share. The company bought back its own ordinary shares last week for a total value of EUR2.3 million.

Webuild--green by 0.4 percent--reported that between June 10 and June 14 it bought back 755,000 of its own shares for a total consideration of EUR1.5 million.

At the tail end, among the bearish minority, close list PharmaNutra is giving up 1.3 percent.

On the Small-Cap, Newlat is pushing ahead 6.7 percent to EUR11.74 per share. The stock updated its 52-week high during trading to EUR11.88 per share.

Sogefi - in the green by 2.8 percent - announced that its board of directors has resolved to propose to the July 18 shareholders' meeting the distribution of an extraordinary unit dividend of EUR0.923, gross of withholding taxes, for each of the outstanding shares with the exclusion of treasury shares held at the record date, for a total estimated amount of EUR110 million.

Zucchi -- in the black by 2.8 percent -- announced Monday that it reported a first quarter profit of EUR1.2 million from EUR1.9 million in the same period of 2023. As of March 31, consolidated sales stood at EUR29.3 million from EUR33.3 million in 2023.

Among the negative notes, Centrale del Latte d'Italia is giving up 2.7 percent. There is high trading volume on the stock, amounting to nearly 50,000 pieces changed hands compared to a three-month daily average of around 7,600circa

Among SMEs, boost on ISCC Fintech, which advances 6.6 percent on the heels of eve's bullish candle with 1.9 percent.

ErreDue - flat at EUR9.85 - on Tuesday reported that it has signed a new agreement with a Dutch company - active in the development of hydrogen and electric solutions for vehicles to build a 1.5 MW plant. The value of the supply is about EUR2 million.

Caribbean Company - in the green by 5.0 percent - reported a loss for 2023, reporting a negative EUR2.9 million from adjusted net income of EUR2.0 million in 2022. Revenues for the period stood at EUR52.8 million from EUR49.7 million as of Dec. 31, 2022.

On a negative note, among the few in this segment, Cloudia Research is giving up 7%, heading for the third session to close with a bearish candle.

In New York on European night, the Dow rallied 0.4 percent, the Nasdaq closed ahead 1.0 percent, and the S&P 500 rallied 0.8 percent.

Among Asian exchanges, the Nikkei advanced 1.0 percent, the Shanghai Composite closed plus 0.5 percent, while the Hang Seng gave up 0.1 percent.

Among currencies, the euro changed hands at USD1.0720 from USD1.0718 in Monday's European stock close while the pound was worth USD1.2687 from USD1.2684 on Monday evening.

Among commodities, Brent crude is trading at USD84.15 per barrel from USD83.50 per barrel at Monday's close. Gold, on the other hand, trades at USD2,311.66 an ounce from USD2,312.84 on Monday evening.

On Tuesday's macroeconomic calendar, retail sales from the US are expected at 1430 CEST followed by industrial and manufacturing production at 1515 CEST.

No special events are expected in the Piazza Affari.

By Maurizio Carta, Alliance News reporter

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