(Alliance News) - On Tuesday, major European stock exchanges continued to trade in positive territory as attention remains focused on potential developments in the Middle East.

The atmosphere between Tehran and Washington now appears less strained, bolstering investor confidence after President Donald Trump suggested a deal could be reached 'by next week'.

On the macroeconomic front, according to flash data published by Eurostat, Eurozone annual inflation accelerated to 3.2% in May from 3.0% in April, confirming FxStreet estimates. A year earlier, Eurozone inflation stood at 1.9%.

Consequently, the MIB is up 1.1% at 50,326.93, the Mid-Cap rose 0.7% to 62,343.47, the Small-Cap gained 0.9% to 36,116.34, and Italy Growth added 0.4% to 9,166.98 points.

The CAC 40 is up 0.7%, the DAX 40 gained 1.0%, and the FTSE 100 rose 0.3%.

On Piazza Affari, STMicroelectronics, trading 11% higher, raised its growth expectations for the data center market in light of persistent strong demand for AI infrastructure and progress made in expanding production capacity.

The company now forecasts data center revenue of approximately USD1 billion in 2026, compared to previous guidance of turnover 'well above USD500 million'.

Solid gains were also seen for Prysmian, up 2.4% at EUR152.95, and Ferrari, which rose 1.8% to EUR304.00 per share.

Defense stocks weighed on the list, with Avio falling 2.3%, Fincantieri down 1.9%, and Leonardo losing 1.1%.

Stellantis, down slightly by 0.1%, will produce three new electric and hybrid Peugeot models from 2029 at its Mulhouse plant in eastern France, as part of a renewed global plan involving a major new product offensive.

The group will invest EUR400 million in the Mulhouse plant and a further EUR500 million in research and development, primarily destined for the new STLA One platform, designed to support a new range of electrified vehicles.

Morgan Stanley confirmed a positive outlook on Brunello Cucinelli, up 0.5% at mid-session, considering the company among the primary beneficiaries of structural changes in the luxury market.

According to analysts, the Umbrian group is particularly well-positioned to navigate an increasingly polarized sector thanks to a clientele less dependent on aspirational demand and more exposed to the high-end luxury segment, which is considered more resilient and growing.

Major international institutional investors have supported UniCredit's exchange offer - up 0.8% - for Commerzbank. Numerous large global managers, such as Vanguard, Norges Bank, and BlackRock, many of whom also hold stakes in the German bank, expressed support for the project led by Andrea Orcel.

Saipem, down 0.2%, could be awarded a major contract in the Middle East for the offshore packages 2A and 2B of the Dorra gas field, developed by Saudi Arabia and Kuwait, according to UpstreamOnline. The combined onshore and offshore packages for the project are worth approximately USD10 billion, or about EUR8.6 billion.

On the Mid-Cap, Pirelli & C. filed two lists of candidates for the renewal of the board of directors for the 2026-2028 three-year period.

The list presented by Camfin, together with Camfin Alternative Assets, Longmarch Holding, and Marco Tronchetti Provera & C., shareholders holding a combined 26.2% of the share capital, proposes 15 candidates, with Marco Tronchetti Provera indicated as the suitable profile for the chairmanship and Andrea Casaluci as the candidate with the required skills for the role of CEO. The stock is trading up 0.7%.

Sanlorenzo is the best performer at mid-session, with gains of 6.0% at EUR38.38, while Philogen trails the basket, down 2.2% at EUR22.50 per share.

On the Small-Cap, Datalogic is trading down 0.2%. Yesterday, the stock closed the session up 36% at EUR5.82, reaching its highest level in nearly a month, following the announcement of a voluntary tender offer launched by Hydra, the group's controlling shareholder with 64.85% of the capital.

The offer concerns 14.7 million shares, equal to 25.08% of the share capital, held neither by Hydra nor by Datalogic itself, which owns 10.07% of its own shares. Hydra also announced it had purchased an additional 3.5% of the capital on the market.

Risanamento, up 3.3%, announced new developments for the future of the Milano Santa Giulia area, disclosing an agreement with the Bizzi & Partners vehicle as part of a potential reorganization of the stakes in the MSG Heartbeat fund, currently held by Lendlease.

Dexelance - up 1.7% - announced the conclusion of the offer period related to the rights issue of up to EUR49.9 million, approved by the board of directors on May 4. The company stated that during the offer period, which began on May 18 and ended yesterday, 26.3 million option rights were exercised for the subscription of 32.8 million new shares, representing 99.5% of the total securities offered.

Tessellis performed well, recovering 12%, while Met.Extra Group slipped to the bottom of the pack with a 2.5% decline.

Among SMEs, Culti Milano - which saw no trades - is heading towards a delisting from Piazza Affari following the success of the total tender offer launched by Berger International: at the end of the acceptance period, 283,625 shares were tendered, representing 9.16% of the share capital and 84.16% of the shares subject to the offer.

ABP Nocivelli, down 2.8%, stated it was unrelated to the facts reported in press articles regarding the investigation launched into the Turin Health and Science Park project, reiterating 'that it has always operated in compliance with applicable regulations and the principles of fairness and transparency', according to the released note.

The company stated it has full confidence in the work of the competent authorities and is certain that full clarity will be brought to the matter.

In New York on Monday evening, the Dow gained 0.1%, the Nasdaq advanced 0.4%, while the S&P 500 rose 0.3%.

In Asia, the Nikkei closed down 0.3%, the Hang Seng rose 2.5%, while the Shanghai Composite advanced 0.4%.

On the currency front, the euro changed hands at USD1.1644 from USD1.1625 on Monday evening, while the pound traded at USD1.3467 from USD1.3450 yesterday evening.

Among commodities, Brent traded at USD93.64 per barrel from USD96.40 on Monday evening, while gold was worth USD4,525.86 per ounce from USD4,473.85 at yesterday evening's close.

On Tuesday's economic calendar, JOLTS job openings data is scheduled for 1600 CEST, while at 1600 CEST - again in the UK - a speech by Governor Bailey is expected.

By Michele Cirulli, Alliance News reporter

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