(Alliance News) – Major European markets closed in positive territory on Tuesday, as speculation grows regarding a second round of negotiations between Iran and the US.
On the international front, tensions are rising between the US and Italy. Meloni criticized Trump’s remarks against Pope Leo, who was accused of being unfit for international politics, while the tycoon, in an interview with Corriere della Sera, described the Italian government’s stance as “unacceptable.”
Against this backdrop, the MIB ended trading up 1.4% at 48,175.65, the Mid-Cap rose 0.9% to 57,550.96, the Small-Cap gained 1.6% to 34,398.60, and Italy Growth climbed 0.5% to 8,695.76 points.
Other European bourses also finished in the green: the CAC 40 rose 1.1%, the DAX 40 climbed 1.2%, while London’s FTSE 100 gained 0.3%.
On Piazza Affari, Telecom Italia, which rose 0.4%, secured an extension until October 15 for the sale of Sparkle. Furthermore, it announced that the board of directors has appointed advisors to assist the company in reviewing the voluntary total public exchange and purchase offer launched by Poste Italiane, which slipped 0.2%.
Specifically, the TIM board will be supported by Evercore and Goldman Sachs as financial advisors, while Bonelli Erede and Gatti Pavesi Bianchi Ludovici Studio Legale Associato were selected for legal matters.
A shift in sentiment came from Bank of America analysts, who upgraded Poste Italiane to ‘buy’ from ‘underperform’, setting a target price of EUR28.8, a 35% increase over previous valuations.
Stellantis, leading the blue-chip index with a 3.5% daily gain to EUR6.927, has initiated a corporate simplification through the merger by incorporation of its subsidiary Punch Powertrain Psa E – Transmission Assembly Italy into Stellantis Europe. As it is a 100% owned subsidiary, the merger will follow a simplified procedure with no exchange ratio.
A2A – up 0.1% at the close – announced it has finalized the acquisition of the 10% stake in Duereti held by e-distribuzione, thereby reaching 100% ownership. Duereti operates in electricity distribution across several municipalities in the provinces of Milan and Brescia.
Cassa Depositi e Prestiti has nominated Pasqualino Monti as the new CEO of Terna, which saw a 0.4% decline. His name was included in the list approved by the group which, through CDP Reti, holds 29.85% of the power grid operator’s capital.
Moncler closed among the top performers, rising 3.2% to EUR54.74 per share, joined by UniCredit, which ended the session up 3.2% at EUR70.36. Eni finished at the bottom of the list with a 2.2% loss, alongside Tenaris, which fell 1.9%.
On the Mid-Cap, the Chinese group Sinochem, through the vehicle Marco Polo International Italy, challenged the restrictions imposed by the Golden Power decree on Pirelli, which fell 0.6%. Sinochem argued that such measures “prejudice the legitimate rights and interests” held as a shareholder under Italian corporate law and the company’s bylaws.
The partial tender offer launched by Karel Komárek for Ferretti Group has concluded, collecting approximately 8.7% of the capital, representing nearly 57% of the offer, bringing the total stake to 23.2%. The operation, conducted via KKCG Maritime, involved an outlay of EUR202 million to increase its holding from 14.5% to 29.9% in the luxury yachting group. Ferretti shares fell 2.1%.
Danieli & C – up 4.0% at the end of the day – signed an agreement with Marcegaglia to build a steel production and flat product rolling plant in Fos-sur-Mer, France. The total contract value is approximately EUR450 million, including options and spare parts.
Moltiply gained 4.4%, while Alerion closed the session down 4.0% at EUR23.80 per share.
On the Small-Cap, OPS eCom surged 13% after receiving a request from Production Code Srl for the full conversion of a EUR60,000 debt into shares, as part of an ongoing capital strengthening process.
OPS Italia – up 4.3% – announced that its board has expressed a preliminary favorable opinion regarding the potential acquisition of 100% of the share capital of Energye, a Bologna-based electricity distribution company.
Banca Profilo recorded double-digit gains of 15% to EUR0.1750 per share, while Landi Renzo fell 3.6% to EUR0.804.
Among SMEs, FAE Technology – which ended the session up 3.5% – announced the launch of Kayser Space, an evolution of Kayser Italia, which joined the FAE group just over three months ago. Kayser Space marks “a strategic and industrial transition opening a new phase of development in the New Space Economy.”
DBA Group, flat at EUR3.36, announced that it has launched the Digitred project through its subsidiary DBA Spa, in collaboration with the Politecnico di Torino and Politecnico di Milano. The initiative, funded by the Ministry of Environment and Energy Security, aims to improve power grid operations.
Circle Group announced that its subsidiary eXyond has secured a new contract worth approximately EUR290,000 from a leading Italian intermodal logistics operator. The stock rose 0.5%.
Adventure, which saw a 1.6% contraction, announced the resignation of three board members: Franco Grande, Maurizio Cerrano, and Gabriele Bisceglie (independent), citing personal and professional reasons unrelated to any disagreements with the company.
In New York, the Dow Jones is up 0.6%, the Nasdaq is up 1.4%, and the S&P 500 is gaining 0.9%.
In the currency markets, the euro is trading at USD1.1798 from USD1.1706 on Monday evening, while the pound is at USD1.3572 from USD1.3454 yesterday evening.
Among commodities, Brent crude is trading at USD96.35 per barrel from USD101.37 yesterday evening, while gold is valued at USD4,801.87 per ounce from USD4,707.84 yesterday evening.
Wednesday’s macroeconomic calendar includes French consumer price index data at 0845 CEST, while the focus shifts to US mortgage data at 1300 CEST.
At 1430 CEST, US import-export data will be released, followed by a speech from the Governor of the BoE at 1750 CEST.
On Piazza Affari, results are expected from MFE-MediaForEurope, SIT, Culti Milano, and six other companies.
By Michele Cirulli, Alliance News reporter
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