(Alliance News) - On Tuesday, major European stock markets opened in positive territory – with Paris slightly in the red – while gold prices continued their upward trend, on the last trading day before the Christmas break.

The FTSE Mib is up 0.1% at 44,642.75, the Mid-Cap slips 0.2% to 58,595.69, the Small-Cap is fractionally higher at 36,615.83, while Italy Growth rises 0.1% to 8,526.11.

London's FTSE 100 is up 0.1%, Paris' CAC 40 is fractionally in the red, while Frankfurt's DAX 40 gains 0.2%.

On the macroeconomic front, Spain's Gross Domestic Product grew by 0.6% quarter-on-quarter in the third quarter of 2025, down from a downwardly revised 0.7% growth recorded in the second quarter, in line with preliminary estimates.

On the main listing of Piazza Affari, Fincantieri takes the lead at the open with a 2.3% gain on its second day on the Mib.

Stellantis also performs well, up 1.1%, as does Leonardo, which rounds out the top three.

Stellantis' sales declined in Europe in November, in contrast to the overall market trend where registrations increased by 2.1% year-on-year.

According to data published Tuesday by ACEA, the European Automobile Manufacturers' Association, the group formed from the merger of PSA Group and Fiat Chrysler Automobiles posted a 2.7% decline compared to November 2024, with its confirmed market share falling to 12.9% from 13.5% in the same month the previous year.

The board of DiaSorin – up 0.2% – has approved a proposal to submit to the shareholders' meeting a share buyback program with a maximum outlay of EUR250 million. The initiative will cover a maximum of 4.5 million shares, about 8% of the share capital.

The buyback is aimed at the subsequent cancellation of the shares, a strategy designed to optimize the capital structure and increase shareholder value. The meeting will also be called to approve the cancellation, without reducing share capital, of all repurchased shares and up to an additional EUR2 million of shares already held in the portfolio.

Among the decliners, Saipem sits at the bottom, down 1.1%. The company, in partnership with Offshore Oil Engineering, has been awarded by QatarEnergy an offshore EPCI contract for the COMP5 package of the North Field Production Sustainability Offshore Compression Complexes project. The total contract value is about USD4 billion, with Saipem's share amounting to approximately USD3.1 billion.

Campari is also down, falling 0.7%.

On the Mid-Cap segment, doValue rises 2.5%. The company announced the launch of Lounge, a new contribution fund focused on credits guaranteed by the MCC Guarantee Fund, created in partnership between the group's alternative asset management company, Gardant Investor SGR, and three Italian banks.

As explained in a company note, the initial contribution amounts to about EUR200 million in gross book value of non-performing loans, with the potential for further expansion in the future thanks to the volume of existing loans guaranteed by the MCC Guarantee Fund in the Italian market and the competitive structure of the contribution fund.

Safilo Group – up 0.2% – and Pierre Cardin on Monday announced the renewal of their global licensing agreement for the design, production, and distribution of Pierre Cardin-branded prescription and sunglasses collections.

This renewal will be valid until 2031.

Iren – up 0.1% – announced Monday that Fitch has confirmed its long-term credit rating at "BBB" with a "stable" outlook following the recent presentation of its business plan to 2030.

Additionally, the senior debt rating was confirmed at BBB+ and subordinated debt at BBB-.

Among the decliners, Caltagirone and OVS sit at the bottom, both down 1.3%.

On the Small-Cap, IRCE – not yet traded – announced Monday that it signed an investment agreement on December 18 with SIMEST Spa to support its Chinese subsidiary IRCE Electromagnet Wire (Jiangsu) Co. Ltd, as part of a group expansion project in China.

The agreement provides for a total financial intervention of EUR6 million, covered by SACE guarantee, with a five-year duration until December 31, 2030.

Borgosesia is not yet trading. The company announced Monday the closure of the placement of the first tranche of the "Borgosesia 6.30%" bond, up to a maximum of EUR50 million, launched on December 17, 2025.

Pininfarina – up 2.4% – announced Friday that it had approved a transaction involving the granting of a loan by PF Holdings, the company's controlling shareholder, for a total amount of EUR14 million.

CY4Gate rises 1.0%. The company announced Tuesday it has signed a three-year contract worth approximately EUR5.6 million with a major Italian corporate client, aimed at acquiring anti-fraud solutions.

Eurotech and OPS Italia, on the day their half-year results are due, are the worst performers, falling 1.8% and 1.6% respectively.

Among SMEs, Officina Stellare rises 4.5%. The company announced Tuesday it has signed a new contract with Leonardo for the supply of an initial series of optical assemblies for Leonardo's high-resolution satellite telescopes.

The contract, with a duration of about 3 years and a total value of roughly EUR9.2 million, covers not only the production of high-resolution optical assemblies but also significant engineering and industrialization activities for the product.

Impianti – down 2.6% – announced Monday it has been awarded a contract with a leading public health authority for the creation of a control room dedicated to security and monitoring activities for the Milan-Cortina Winter Olympic Games.

The agreement concerns the supply of a complete solution for the audio-video setups of the new Olympic Operations Center at the ASST Grande Ospedale Metropolitano Niguarda Hospital Hub, with a total value exceeding EUR190,000.

Circle – not yet traded – announced Monday the launch of a new Digital Supply Chain project based on the Milos ecosystem, aimed at implementing a digital and optimized system for managing operational processes, utilizing real-time data, and simplifying customs procedures.

The project has a total value of about EUR280,000.

In New York on Monday, the Dow closed up 0.5% at 48,362.68, while the Nasdaq ended 0.5% higher at 23,428.83 and the S&P 500 gained 0.6% to 6,878.49.

Among Asian markets, the Hang Seng lost 1.1%, the Shanghai Composite gained 0.1%, while the Nikkei closed fractionally higher.

On the currency front, the euro trades at USD1.1781 from USD1.1758 at Monday's equities close, while the pound trades at USD1.3508 from USD1.3450 Monday evening.

Among commodities, Brent trades at USD62.15 a barrel from USD61.75 a barrel in the previous session, while gold is valued at USD4,520.10 an ounce from USD4,440.40 an ounce Monday evening.

On Tuesday's economic calendar, at 1415 CET, US data on ADP employment, the PCE price index, durable goods report, and GDP figure are due.

At 1515 CET, industrial production data is expected, and at 2230 CET, weekly oil inventory numbers.

Among companies, OPS Italia's half-year results are scheduled.

By Claudia Cavaliere, Alliance News reporter

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