(Alliance News) - On Tuesday's opening day, major European indexes meet IG futures forecasts and open in negative territory, following yesterday's decline in the New York Stock Exchange, and after the release of German inflation data.

Thus, the FTSE Mib opens down 0.5 percent to 34,401.26, the Mid-Cap is in fractional red at 48,018.18, the Small-Cap is in fractional red at 28,456.48, and Italy Growth loses 0.1 percent to 7,787.30.

In Europe, London's FTSE 100 is in the red by 0.6 percent, Paris' CAC 40 gives up 0.5 percent, and Frankfurt's DAX 40 retreats 0.1 percent.

On the macroeconomic front, Germany's annual inflation rate rose to 2.2 percent in November from 2 percent in October, in line with preliminary estimates, marking the highest level in four months. The data were released Tuesday by Destatis.

Services inflation was unchanged at 4 percent, while energy costs declined at a slower pace. Meanwhile, food inflation slowed to 1.8 percent from 2.3 percent in the previous period.

On a monthly basis, consumer prices fell 0.2 percent, in line with initial estimates, after a 0.4 percent increase in October.

Returning to Milan, on the highest-capitalization list of Piazza Affari, best start-up performance for Telecom Italia, up 1.2% to EUR0.2453. 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.

DiaSorin follows, in the green by 0.7 percent, in its second bullish session.

Leonardo closes the opening podium, in the green by 0.6 percent, after finishing Monday's session in the red by 4.8 percent.

Enel is on the threshold of parity. Flavio Cattaneo, chief executive officer of Enel and vice chairman of Endesa, increased the total value of his holdings in shares of the two companies to about EUR32.0 million, according to Il Messaggero in Tuesday's edition.

Among the bearish startups are Brunello Cucinelli, down 0.9 percent, and Snam, down 0.8 percent.

Stellantis--down 0.1 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 Tuesday's 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 his retirement in May, Milano Finanza reported Tuesday.

Generali -- in the red by 0.6 percent -- acquired Palazzo Carciotti in Trieste, a historic insurance headquarters, for EUR13.2 million.

Mediobanca Private Banking, a division of the Mediobanca Group -- in the red by 0.6 percent -- raised EUR484.0 million for an innovative real estate co-investment program developed in collaboration with Mediobanca SGR and UBS Asset Management, according to Il Sole 24 Ore reported Tuesday.

On the main list bottom, Saipem gives up 1.1 percent to EUR2.476.

On the Mid-Cap, Anima Holding rises 0.4 percent at the start 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 green by 0.1 percent - relaunched its foundation with new missions, including defense of cultural heritage, innovation and social inclusion, renewing its board of directors.

OVS - in the red by 0.7 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 7.0% in its sixth bullish session, continuing the positive performance of the past 30 days.

Among the opening bearishers are GVS and WIIT, with declines between 1.3% and 1.7%.

On the Small-Cap, flight of 43% for Beghelli at EUR0.33 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.

Olidata was good, up 5.1 percent at the start, with the stock at a 30-day high.

Among the bearish doValue and Gabetti, with declines between 2.4% and 2.9%.

At the bottom EPH gives up 6.7% to EUR0.28, in its second session in the red.

Among SMEs, Comal is up 7.6 percent to EUR4.54 per share, consolidating the positive performance of the past six months.

Among the bullish Ucapital24 rises 5.1 percent and Confinvest gains 4.7 percent.

No trade for Circle, unchanged at EUR8.08, 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.

In Asia, the Nikkei closed in the green by 0.5 percent, the Hang Seng finished in the red by 0.5 percent, and the Shanghai Composite closed up 0.6 percent.

Among currencies, the euro changed hands at USD1.0547 from USD1.0586 in Monday's European equities close. The pound is worth USD1.2745 versus USD1.2779 on Monday evening.

Among commodities, Brent crude is worth USD71.98 per barrel from USD71.78 at Monday night's close. Gold trades at USD2,684.74 an ounce from USD2,677.81 an ounce on Monday evening.

Tuesday's macroeconomic calendar calls for Italian industrial production data at 1000 CET. One hour later, the Eurogroup meeting will kick off.

Overseas, U.S. private sector productivity data will arrive at 1430 CET, 25 minutes before the Redbook. At 2230 CET, room for weekly oil stocks.

Among the companies in the stock market, the accounts of Homizy and Sicily by Car are expected.

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.