(Alliance News) – On Tuesday, major European indices opened lower, with Milan’s Piazza Affari dropping to the 42,500-point area and Paris posting the worst performance among the continent’s exchanges.

Investor sentiment has turned more cautious following US President Donald Trump’s announcement of new 10% tariffs on lumber and related products. This was compounded by market tensions over the risk of a US government shutdown, which will take effect tomorrow unless Democrats and Republicans reach an agreement by the end of today.

As a result, the FTSE Mib is down 0.3% at 42,426.75, the Mid-Cap is down 0.5% at 56,295.48, the Small-Cap is up 0.1% at 36,216.71, and the Italy Growth index is up 0.1% at 8,598.80.

London’s FTSE 100 is down 0.2%, Paris’ CAC 40 slips 0.3%, and Frankfurt’s DAX 40 loses 0.1%.

On the macroeconomic front, economic activity in China grew at a faster pace in September, supported by expansion in both the services and manufacturing sectors, S&P Global reported Tuesday.

The RatingDog China Composite PMI rose to 52.5 in September from 51.9 in August, marking the fastest pace of growth since June 2024. A reading above the neutral threshold of 50.0 signals overall activity expansion from the previous month, while a reading below indicates contraction.

In Japan, industrial production and retail sales both declined in August, according to preliminary data released Tuesday.

Back in Milan, on the main blue-chip index, Azimut led at the open with a 3.4% gain and over 655,000 shares already traded.

Brunello Cucinelli fell 0.3%. The company announced it had brought forward its board meeting on preliminary results after allegations–denied by the board–of circumventing sanctions on Russia.

The board of Monte dei Paschi is finalizing the list of candidates for the presidency and new Mediobanca board, aiming to present the slate by Friday for the October 28 shareholder meeting.

MPS is up 0.6% while Piazzetta Cuccia rises 0.1%.

Among the many decliners, Stellantis drops 1.4%. The automaker confirmed its guidance for the current year and announced the appointment of Joao Laranjo as new CFO, replacing Doug Ostermann, who resigned for personal reasons.

Campari and Leonardo each fall 1.3% at the open.

At the bottom of the main index, Saipem starts the session down 1.7%. Nordea Investment Management has cut its short position on the stock to 0.38% from the previous 0.50%.

On the Mid-Cap, among the few gainers, Comer Industries tops the list with a 0.9% rise.

Avio slips 0.4%. The company has signed a EUR40.0 million contract with the European Space Agency for transportation services. The deal has a 24-month duration.

Pirelli is up 0.1% at the open. The Italian government has notified Chinese shareholder CNRC–which holds 37% of Pirelli–of the closure of its investigation into a possible Golden Power violation between June 16, 2023 and October 31, 2024, stating that no actions compromising the company’s management autonomy were found.

Fincantieri and TUI Cruises–a joint venture between TUI and Royal Caribbean Cruises–signed a contract Monday for the design and construction of two new cruise ships. Fincantieri shares are down 0.1%.

Profit-taking drags Danieli & C to the bottom of the mid-cap list, down 2.8% after soaring 15% on Monday.

On the Small-Cap, among the most traded stocks by value, GPI falls 3.7%. The company reported Monday that it closed the first half with a net profit from continuing operations of EUR3.5 million, up from EUR2.9 million in the same period of 2024.

Seri Industrial–down 6.1% at the bottom of the list–announced it closed the first half with an adjusted consolidated loss of EUR11.6 million, compared to a loss of EUR5.6 million as of June 30, 2024.

Beewize gains 6.0% after reporting Monday its first-half results, which showed a group net loss of EUR2.7 million, worsening from a loss of EUR874,000 in the same period of 2024.

FILA is up 1.0% and Digital Value rises 2.5%.

Fidia’s stock has been suspended after a theoretical 15% surge. The company reported it closed the first half with a loss of EUR150,000, compared to a loss of EUR7.2 million as of June 30, 2024.

Among SMEs, Casta Diva Group starts strong–up 2.1%–after reporting a first-half net profit of EUR2.1 million, up from EUR2.0 million in the same period of 2024, a 6% increase.

Production value rose to EUR59.4 million from EUR58.2 million, marking a 2% increase.

Impianti rises 1.8%. The company reported first-half revenues of EUR3.1 million, down from EUR4.4 million as of June 30, 2024. Net loss stands at EUR370,000, compared to a loss of EUR270,000 in the first half of last year.

SosTravel.com falls 4.9% at the open, after reporting Monday a first-half net loss of EUR292,000 compared to a profit of EUR50,000 in the same period of 2024. The board has revoked the 2023-2027 industrial plan, considering the growth targets no longer achievable under the new business model.

At the bottom of the alternative list is Nusco, down 6.0% after reporting Monday a first-half net loss of EUR381,000, compared to a profit of EUR1.6 million in the same period of 2024–a result the company attributed in part to increased financial charges.

In New York, during the European night, the Dow closed up 0.2% at 46,316.07, the Nasdaq rose 0.5% to 22,591.15, and the S&P 500 gained 0.3% to 6,661.21.

Among Asian exchanges, the Hang Seng is up 0.8%, the Shanghai Composite rises 0.5%, while the Nikkei fell 0.3%.

In currency markets, the euro is trading at USD1.1740 from USD1.1727 at Monday’s equity close, while the pound is at USD1.3436 from USD1.3420 Monday evening.

Among commodities, Brent is trading at USD66.42 per barrel from USD68.20 at Monday’s close, while gold is at USD3,848.68 an ounce from USD3,823.84 an ounce on Monday.

On Tuesday’s economic calendar from Italy, producer prices will be released at 1000 CEST.

At 1100 CEST, inflation data will be published, followed by industrial sales figures at 1200 CEST.

At 1450 CEST, European Central Bank President Christine Lagarde will deliver a speech, followed at 1600 CEST by US consumer confidence data.

At Piazza Affari, half-year results from more than 40 companies are expected.

By Antonio Di Giorgio, Alliance News reporter

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