(Alliance News) - On Tuesday, Piazza Affari closed another session in positive territory along with the other European stock markets -- with the exception of London. Overseas, U.S. stock exchanges got off to a slow start, flattened by Goldman Sachs' disappointing results.

"It appears that Goldman Sachs' quest to cut costs has yet to move forward. Today's earnings from the Wall Street titan delivered the double blow of falling revenues and rising expenses. Perhaps the first round of bank earnings was a decoy: investors will certainly be concerned that companies in other sectors will replicate today's paltry performance, putting pressure on the fragile rally in U.S. stocks," commented Chris Beauchamp, chief market analyst at IG.

The FTSE Mib closed up 0.3 percent to 25,981.19, the Mid-Cap up 0.5 percent to 42,452.12, the Small-Cap rose 0.2 percent to 29,502.75, and Italy Growth gave up 0.4 percent to 9,559.88.

In Europe, London's FTSE 100 fell 0.1 percent, Paris' CAC 40 gained 0.4 percent, and Frankfurt's DAX 40 was up 0.3 percent.

On the main list in Piazza Affari, Stellantis -- in the green by 0.3% -- and Vulcan Energy Resources announced Tuesday that they have signed a binding agreement for the first part of a multiphase plan to develop new geothermal projects with the intent of decarbonizing the energy mix at Stellantis' industrial site in Rüsselsheim, Germany, where the DS4 and Opel Astra cars are produced.

Plenitude, an Eni benefit company that closes up 0.3 percent, and Simply Blue Group, an Irish developer of blue economy projects, announced Tuesday that they have signed an agreement to jointly develop a pipeline of new floating offshore wind projects in Italy.

Banco BPM -- in the red by 0.6 percent -- announced Monday that it had signed a EUR5 million financing agreement to benefit Mare Group, a company that has been in business for more than 20 years and focuses on innovation through new enabling technologies for industry.

As for Telecom Italia, the stock closed the session up 0.8 percent. "Piazza Affari continues to feel the air of battle over Telecom Italia, following the resignation of Arnaud de Puyfontaine from the telephone giant's board of directors. With this move Vivendi clearly wants to keep its hands free on the sale of the network to Cdp and private funds and prepare alternative scenarios," commented Francesco Bonazzi, columnist for Alliance News.

"That it is on the way out of the quagmire is evidenced by the fact that in one month the share price has recovered 28 percent and today passes hands at EUR0.26 with a 1.0 percent rise. Capitalization still remains unsatisfactory and stands at EUR5.47 billion, or one-fifth of debt and one-sixth of what Vivendi values the network alone. The French have held 24 percent of TIM since 2016 and are its largest shareholder, having shelled out about EUR4 billion. To date, their potential capital loss is about EUR3 billion."

On the cadet segment, Brunello Cucinelli ends in the red by 0.8 percent after reporting that it purchased 24,125 of its own ordinary shares for a total value of EUR1.7 million or so.

Maire Tecnimont - up 2.2 percent - reported that its subsidiary Tecnimont has received a letter of award from ADNOC for preliminary engineering and procurement work related to the onshore structures of the Hail & Ghasha project, as a member of a joint venture comprising Tecnimont, Technip Energies and Samsung Engineering.

The total value of the preliminary engineering and procurement work for the onshore structures is approximately USD80 million for the joint venture. The scope of PCSA's work also includes the preparation of an Open Book Estimate for the execution of the entire project, which will be considered as part of the client's final investment decision.

Seco advances 1.1 percent. Axelera AI on Tuesday announced that it has selected Seco as the sole European developer of edge AI solutions based on its MetisTM AI platform, a high-performance, cost-effective and user-friendly platform that combines hardware and software to accelerate computer vision on the edge.

On the Small-Cap, with regard to the all-stock tender offer launched by Nova for its shares, DeA Capital announced Monday that Morrow Sodali will act as Global Information Agent in order to provide information regarding the offer to all holders of DeA Capital common shares. The company's stock closes flat at EUR1.48 per share.

algoWatt gives up 1.5 percent after reporting Monday that it has been awarded a EUR275,000 financing for activities as a digital energy solution provider and system integrator under the Thumbs Up project "Thermal energy storage solUtions to optimally Manage BuildingS and Unlock their grid balancing and flexibility Potential."

The project is funded with funds from the Horizon Europe program to achieve high-performance results that contribute significantly to the development of a sustainable economy in the EU.

Among SMEs, TraWell Co leaves 1.9 percent on the parterre after reporting that Edoardo Zarghetta has resigned from the company's board as part of a reorganization of the group's corporate bodies.

IDNTT, MarTech Content Factory active in omnichannel content production, announced on Monday the expansion of its shareholder base with two leading institutional investors entering the company's share capital following the purchase of 305,000 shares-about 4 percent of the capital-including 265,000 from President and CEO Christian Traviglia and 40,000 from partner Umanware. The stock lost 1.8 percent.

Gismondi 1754 lost 4.1 percent after announcing Monday that it has signed a five-year franchise agreement-with an option to renew between the parties upon expiration-with Qatar's Al Mana family to distribute the Italian brand's jewelry in the Gulf Cooperation Council area, which now includes Qatar, Bahrain, Kuwait, Saudi Arabia, Oman, and the United Arab Emirates.

Gibus fell 2.9 percent after reporting revenues of EUR84.0 million, up about 16 percent from EUR72.7 million in the same period last year.

The company points out that the result was due to both organic growth and the acquisition of the Leiner Group on Sept. 30, 2022.

In New York at the height of trading, the Dow is down 1.1 percent at 33,933.89, the Nasdaq is down 0.2 percent at 11,056.37, as is the S&P 500 at 3,990.77.

Among currencies, the euro changes hands at USD1.0806 versus USD1.0823 at Monday's close. In contrast, the pound is worth USD1.2277 from USD1.2204 last night.

Among commodities, Brent crude is worth USD85.58 per barrel from USD84.03 per barrel last night. Gold, meanwhile, trades at USD1,914.15 an ounce from USD1,917.95 an ounce last session.

Wednesday's economic calendar opens in Asia at 0050 CET with data on Japan's main machinery orders, interest rate decisions and the BoJ's outlook report.

In the Old Continent, at 0800 CET, it is the turn of UK car registrations, the consumer and producer price index.

At the same time, from Italy, Germany and France, comes national data on registrations.

At 1000 CET, the trade balance is published in Italy.

Half an hour later, back in the UK, in comes the house price index and labor productivity data.

At 1100 CET, December inflation and construction sector output data are released.

Overseas, at 1300 CET, it is the turn of the MBA mortgage rate.

Later, at 1430 CET, come the U.S. producer price index, retail sales data and from Canada the industrial goods price index.

Among the companies listed in Piazza Affari, the results of I Grandi Viaggi are expected.

By Claudia Cavaliere, Alliance News reporter

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