(Alliance News) – On Tuesday, major European markets moved into positive territory, as gold hit an all-time high, breaking through the USD3,770 barrier.
In Italy, the tax burden stood at 42.5%, while public debt decreased. In the UK, concerns are mounting over rising prices, which are now outpacing wage growth.
Conversely, Eurozone economic activity in September continued to climb, extending a trend observed since early 2025.
Against this backdrop, the FTSE Mib closed up 0.1% at 42,477.76 points, the Mid-Cap slipped 0.4% to 56,845.87, the Small-Cap rose 0.7% to 36,487.12, and the Italy Growth index advanced 0.1% to 8,595.16 points.
Paris’s CAC 40 gained 0.5%, Frankfurt’s DAX rose 0.4%, while London’s FTSE 100 ended marginally in the red at 9,223.32.
Axel Rudolph, Senior Technical Analyst at IG, commented: “Equity markets remained buoyant, with US indices reaching new record highs despite a slowdown in economic activity and OECD forecasts pointing to a slowdown in global growth from 3.3% in 2024 to 3.2% in 2025 and 2.9% in 2026, due to US tariffs hampering trade and investment.”
“However, the outlook for 2025 has been revised upwards based on initial resilience. UK manufacturing orders fell less than expected, while Eurozone private sector growth accelerated and Sweden’s Riksbank cut interest rates in a surprise move to support the economy,” Rudolph concluded.
At Piazza Affari, banks saw mixed returns, influenced by potential tax moves from a faction within the Meloni government.
Monte dei Paschi di Siena – up 0.5% – outperformed expectations, closing its OPAS on Mediobanca – which fell 5.9% – with record fund participation, reaching 86.3%.
Now, swift decisions are needed regarding the future structure between Siena and Milan.
Assicurazioni Generali announced that Fitch has upgraded the financial strength rating of the company and its main subsidiaries to ‘AA-‘ from ‘A+’. The stock slipped 1.0%.
The proposed banking hub between Banco BPM – which dropped 1.9% – and Crédit Agricole Italia has entered the regulatory review phase. Meanwhile, a meeting is scheduled in Rome.
STMicroelectronics will lead the European STARLight consortium, an initiative aimed at positioning Europe as a leader in silicon photonics technology on 300mm wafers. The stock benefited, rising 2.7%.
Saipem and Stellantis were the top performers of the day, gaining 3.6% and 3.2% respectively. The luxury sector also fared well, with Moncler up 2.4% and Brunello Cucinelli advancing 2.6%.
On the Mid-Cap, MAIRE – down 0.7% – announced that NextChem has opened a new office in Abu Dhabi to promote the energy transition in the Middle East. The group is also active in Saudi Arabia, Qatar, and Oman with other strategic initiatives.
Tamburi Investment Partners purchased 36,749 of its own ordinary shares at an average price of EUR8.2937 each, for a total value of EUR304,784.01. The stock gained 1.7%.
Juventus Football Club reported that in the capital gains case, the Rome GUP accepted plea agreements requested by all parties and issued a ruling of no case to answer for one of the defendants.
Following the settlement, the company will be required to pay a fine of EUR157,000. The stock ended the session down 2.3%.
GVS saw strong buying, up 4.7%, after Goldman upgraded the stock to ‘buy’ with a target price of EUR5.60.
Piaggio also performed well, rising 5.1%, while Cembre dropped 3.9%.
On the Small-Cap, the board of SS Lazio – down 1.9% – approved the consolidated financial statements as of June 30, showing a net loss of EUR17.2 million, a marked deterioration from the EUR38.5 million profit recorded as of June 30, 2024.
Geox gained 6.2%, while Trevi Finanziaria Industriale climbed 4.9% after hitting a yearly high of EUR0.54 per share.
SIT and Generalfinance ended at the bottom, down 2.8% and 2.9% respectively. Bastogi fared even worse, falling 3.1%.
Among SMEs, DigiTouch finalized the full acquisition of Progettoimmagine, a marketing and communications agency. The stock closed flat at EUR2.01 per share.
Omer – up 0.4% on the day – closed the first half with sharply improved results, with net profit for the period remaining stable at EUR4.5 million.
Valtecne – down 2.1% – reported a net profit of EUR1.9 million, down from EUR2.2 million in the same period of 2024.
Doxee returned to profit with double-digit revenue growth in the first half, with the stock up 7.8%.
Datrix soared 19%, while the worst performance came from IMD International Medical Devices, down over 20%.
In New York, the Dow Jones was up 0.4%, the Nasdaq slipped 0.3%, and the S&P 500 closed down 0.1%.
On the currency front, the euro traded at USD1.1797 from USD1.1772 at Monday’s equity close, while the pound was at USD1.3524 from USD1.3504 last night.
Among commodities, Brent was trading at USD67.73 per barrel from USD66.39 at yesterday’s close, while gold stood at USD3,772.11 from USD3,719.98 per ounce at Monday’s European stock market close.
On Thursday’s economic calendar, at 0120 CEST, US President Donald Trump is scheduled to speak, while at 0900 CEST, Spain’s producer price index will be released.
At 0900 CEST, the European Central Bank’s non-monetary policy meeting is also scheduled, while at 1000 CEST, Germany’s current situation assessment is expected. At the same time in Germany, the Ifo business climate index will be published.
Focus will shift to US mortgages at 1300 CEST, with US construction sector data to follow from 1430 CEST.
Still in the US, from 1630 CEST attention will turn to commodities, and at 2210 CEST, Mary Daly, President and CEO of the Federal Reserve Bank of San Francisco, is set to speak.
At Piazza Affari, half-year results are expected from thirteen companies, including MFE-MediaForEurope, Redelfi, and eVISO.
By Michele Cirulli, Alliance News Reporter
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