(Alliance News) - European stock markets posted modest gains at the opening bell on Tuesday, following a mixed session on Monday, during which traders avoided significant moves ahead of tomorrow's Federal Reserve monetary policy decision, with a cut in interest rates expected.
Markets also reacted to statements by US President Trump, who announced that the US will allow Nvidia to export its H200 AI chips to "authorized customers" in China, showing a sign of openness.
The MIB is thus up 0.8% at 43,763.20 points.
The CAC 40 in Paris is up 0.1%, the DAX 40 in Frankfurt is up 0.4%, while the FTSE 100 is down 0.1%.
Among the minor indices, the Mid-Cap is up 0.6% to 58,899.30, the Small-Cap is up 0.2% to 36,133.42, and the Italy Growth is down slightly below parity to 8,488.45 points.
On the Mib, Banca Mediolanum rose 2.8% to EUR18.64 per share, rebounding after four sessions of decline.
UniCredit rose 1.2%. The company announced on Tuesday that it had purchased 1.7 million of its own ordinary shares at an average price of EUR65.3306 each, for a total value of EUR110.6 million. The shares were purchased between December 1 and 5.
Buzzi fluctuated down 0.9% to EUR51.30 per share. It should be noted that Goldman raised its target price to EUR52.00 from EUR51.00.
Monte dei Paschi di Siena accelerates on the Mediobanca dossier. The board of directors has confirmed its confidence in CEO Luigi Lovaglio and decided to bring forward the presentation of the business plan for the merger with Mediobanca, in which Siena holds an 86.3% stake. The project will be presented to the market and sent to the ECB by the beginning of March, about a month ahead of schedule, the newspaper continues.
The working groups of the two banks remain operational, while no decision has yet been taken on the possible merger, which would free up an estimated EUR700 million in synergies.
MPS is up 1.3%, while Mediobanca is up 0.9%.
In the mid-cap segment, Avio is performing well, rising 1.8% to EUR26.05 per share after two sessions of decline.
Technoprobe, up 1.6%, announced on Tuesday that it had entered into a strategic agreement with WinWay Technology Co, a leading supplier of IC test interfaces listed on the Taiwan Stock Exchange, and MS Sun Technology Company, a Taiwanese distribution company, to grant WinWay Technology the right to use its proprietary TPEG technology to develop testing solutions.
Under the terms of the agreement, WinWay Technology Co. will purchase the Products for a minimum period of 5 years and for a minimum amount of approximately USD 60 million.
Banca Generali also rose, gaining 1.6% to EUR55.40 after four sessions closed with a bearish candle.
Alerion, on the other hand, fell 1.2% after gaining 2.6% in the previous session.
On the Small-Cap market, Softlab advanced 9.0%, bringing the price to around EUR1.40 per share.
Ops eCom - not yet traded - announced on Monday that it is taking a new step in its plan to expand the company's activities to express transport and logistics. The company has signed a preliminary agreement to acquire 100% of the share capital of KCT, a company based in Galliate that operates in road freight transport.
Sabaf, on the other hand, rose 3.2% after a flat session the previous day, with a price of around EUR 14.55.
Among SMEs, Execus rose 6.7% to EUR 1.28 per share, taking the top spot on the list.
Circle, up 2%, announced on Tuesday that it had been awarded the SEAMLESS (Smart Environmental and Mobility Logistics Enhanced by EO Satellite Systems) project, based on the published ranking and as the lead partner. The project, which will last 18 months and has a total value of approximately EUR 840,000, provides for a non-repayable grant of over EUR 210,000 for Circle and over EUR 102,000 for Circle Garage.
Mare Group - not yet traded - announced that it would intensify its initiatives with regard to Eles Semiconductor Equipment. The company requested the convening of an ordinary shareholders' meeting to propose the expansion of the board from six to nine members, introducing three independent directors and defining their term of office and remuneration.
Cloudia Research, on the other hand, fell 5.2% to EUR1.09 per share, closing the SME segment.
In New York last night, the Dow Jones fell 0.5%, the Nasdaq lost 0.1%, while the S&P 500 closed down 0.4%.
Among Asian markets, the Shanghai Composite lost 0.4%, the Hang Seng closed down 1.3%, while the Nikkei advanced 0.1%.
On the currency front, the euro is trading at USD 1.1646 from USD 1.1623 at Monday's stock market close, while the pound is trading at USD 1.3341 from USD 1.3314 last night.
Among commodities, Brent crude traded at USD 62.54 per barrel from USD 62.92 per barrel at yesterday evening's close, while gold was worth USD 4,190.75 per ounce from USD 4,194.76 per ounce yesterday evening.
On Tuesday's economic calendar, at 1200 CET, the optimism of small US businesses will be assessed.
US employment data will be released at 1415 CET, while a speech by BoE members is expected at 1515 CET.
No significant announcements are expected on the Italian stock market.
By Maurizio Carta, Alliance News Reporter
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