Caution Prevails on Markets, Banco BPM Leads Mib

(Alliance News) – Caution was the order of the day on European markets Tuesday, as investors remained on edge amid conflicting news regarding U.S. tariffs. While the European Union received an extension on tariff suspensions, widespread increases elsewhere kept market sentiment subdued.

The geopolitical landscape remains murky as well. The U.S. is now pushing for peace in Gaza – with Netanyahu nominating Trump for the Nobel Peace Prize – while also preparing to rearm Ukraine in its conflict with Russia, after having suspended arms deliveries in recent days.

Against this backdrop, the FTSE Mib slipped 0.1% to 39,902.26 points, while the Mid-Cap rose 0.5% to 54,495.63, the Small-Cap gained 0.5% to 32,265.06, and Italy Growth edged down 0.1% to 8,261.047 points.

European indices reflected similar uncertainty, with Paris’s CAC 40 down 0.1%, Frankfurt’s DAX 40 up 0.3%, and London’s FTSE 100 gaining 0.1%.

Back in Milan, Campari continued to perform well, up 1.5% to EUR6.154 per share after Bernstein cut its price target to EUR10.00 from EUR10.50, maintaining an "outperform" rating.

Saipem advanced 1.7% to EUR2.349 per share, with over 1,700 contracts signed and about 9.5 million shares traded by midday.

Nexi improved by 1.3% after Baptista Research set a price target of EUR8.40 and issued a "buy" recommendation.

In the first half, Stellantis produced 123,905 cars in Italy, a 34% decrease compared to the same period in 2024, according to the FIM-CISL union. Nevertheless, the stock rose 0.7% to EUR8.45.

On the banking front, the Antitrust authority approved Monte dei Paschi’s public exchange offer – up 0.8% – for Mediobanca – up 0.1% – finding no competition concerns.

Intesa Sanpaolo launched "S-Loan Soluzione Lavoro", a new loan designed to support companies hiring young people and women, linking interest rate benefits to job creation. The stock slipped 0.2%. The bank also announced a buyback exceeding EUR70 million.

Meanwhile, BPER Banca’s public exchange offer – down 1.1% – for Banca Popolare di Sondrio – down 0.8% – is entering its decisive week, with the deadline set for Friday, July 11. PopSondrio’s board will meet Tuesday to deliberate on the new proposal.

Eni signed a new contract in Algeria with Sonatrach for hydrocarbon exploration and development in the Zemoul El Kbar area, sending the stock up 0.9%.

Banco BPM led gains with a 2.0% increase, followed by Buzzi, up 1.3%.

On the Mid-Cap side, the best performers were Webuild, up 2.2%, and Reply, up 2.1%.

Mondadori also posted a solid performance, rising 2.1% to EUR2.175 per share.

Banca Generali’s net inflows – down 0.6% – totaled EUR308.0 million, compared to EUR697.0 million a year earlier, bringing the year-to-date figure to EUR3.01 billion.

Juventus FC, after securing striker Johantan David, gained 0.8%.

Banca Ifis reopened its OPAS for illimity to acquire the remaining 16% after achieving 84.1% acceptance at the end of the first phase, which closed June 27. Both banks gained 0.7%.

MFE-MediaForEurope and Czech holding PPF are preparing for the decisive phase in the battle for control of Prosiebensat, the Bavarian broadcaster of which they are the largest and second-largest shareholders, respectively. MFE A rose 0.3%, while MFE B was flat at EUR3.86.

Among the day’s worst performers were the Caltagirone group, down 1.7%, and Alerion, which fell 2.0%.

On the Small-Cap list, Safilo Group capitalized on a commercial agreement with Viktoria Beckham, topping the board with an 11% jump to EUR1.016 per share.

Brioschi also posted notable growth, advancing 4.5% after losing 0.7% in the past month of trading.

doValue – up 0.6% – announced Tuesday it had successfully completed the merger of doNext and Master Gardant, fully-owned subsidiaries active in master servicing.

Dexelance acquired 11,600 of its own ordinary shares for EUR80,000, with the stock up 0.9%.

SIT was the laggard, down 6.1%.

Among SMEs, Innovatec remained at the top after Monday’s bullish session. The stock was up 6.7% at EUR0.211 per share by midday.

Circle, which signed a EUR180,000 digitalization project contract with a major Mediterranean port authority, advanced 0.9%.

CleanBnB – down 2.7% – reported gross bookings of EUR23.2 million for the first half, up 8% from EUR21.4 million in the same period last year.

Lemon Sistemi – down 2.1% – announced Monday that PDH, linked to CEO Danolo Palazzolo, had acquired 10,000 ordinary shares of the company.

In Asia, the Nikkei closed up 0.4%, the Shanghai Composite finished 0.7% higher, and the Hang Seng gained 1.0%.

In New York, the Dow Jones closed down 0.9% at 44,406.36, the S&P lost 0.8% to 6,229.98, and the Nasdaq ended the session 0.9% lower at 20,412.52.

On the currency front, the euro traded at USD1.1744, up from USD1.1731 at Monday’s close, while the pound exchanged at USD1.3608, down from USD1.3635 Monday evening.

In commodities, Brent crude traded at USD69.33, up from USD69.08 a barrel at the previous close, while gold was valued at USD3,323.515, compared to USD3,321.37 an ounce on Monday.

On the economic calendar, U.S. weekly oil inventory data is due Tuesday evening at 22:30 CEST.

By Michele Cirulli, Alliance News Reporter

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