(Alliance News) - Piazza Affari is expected to open weak Tuesday, on another day with no particular macroeconomic or corporate cues in the Eurozone.

Different matter, however, in Asia, where the People's Bank of China on Tuesday cut two benchmark lending rates for the first time since the August 2022 June fixing in an effort to support growth, in line with market expectations.

The benchmark one-year lending rate -- LPR --, which is the medium-term credit line used for business and household loans, was lowered by 10 bp to 3.55 percent; while the five-year rate, a benchmark for mortgages, was cut by the same margin to 4.2 percent.

In contrast, in Japan, industrial production rose 0.7 percent monthly in April, after a downwardly revised 0.3 percent growth in the previous month.

The latest result refers to a new base year, 2020, which replaces the old 2015 benchmark.

In Asia, the Nikkei is down 0.2 percent to 33,294.11, the Shanghai Composite gives up 0.4 percent to 3,243.63, and the Hang Seng drops 1.9 percent to 19,532.06.

The FTSE Mib is given down 60.0 points or 0.2 percent after closing down 0.4 percent at 27,754.18 Monday.

London's FTSE 100 is listed down 15.0 points or 0.2%, Paris' CAC 40 is expected down 14.0 points or 0.2% and Frankfurt's DAX 40 is listed down 48.0 points or 0.3%.

Last night in Milan, the Mid-Cap gave up 1.3 percent to 43,234.85, the Small-Cap closed down 0.7 percent to 27,410.64, and the Italy Growth instead picked up 0.1 percent to 9,132.80.

UniCredit gained 2.3 percent after announcing Thursday that it intends to support Nusco, a company active in the production and marketing of interior doors and frames made of wood, PVC, aluminum and iron under the "Nusco" brand, listed on the Euronext Growth Milan market with two loans totaling EUR2.5 million, guaranteed by SACE.

The board of directors of A2A - down 1.1 percent - passed a framework resolution authorizing the issuance, by April 30, 2026, of one or more unsubordinated, unsecured and non-convertible bonds up to a total maximum of EUR1.65 billion from its EMTN program - established in 2012 - whose total maximum amount will be increased to EUR7 billion from EUR6 billion.

ERG, on the other hand, gave up 1.2 percent after it reported on Friday that it had been upgraded by MSCI Inc. a leading ESG corporate performance research company to a "AAA" rating, an improvement from its "AA" rating in 2022, putting it in the "Leader" category.

Recordati lost 1.9 percent to EUR44.40 after a 0.7 percent gain on Friday. The company reported Monday that the NATO Support and Procurement Agency - NSPA - awarded Leonardo a contract to supply a new RAT 31 DL/M long-range air defense radar.

On the Mid-Cap, Rai Way brought home 2.0 percent, following a 0.5 percent decline on Friday evening.

Juventus Football Club--up 1.7%--reported that Tottenham Hotspur FC has exercised its option right to permanently take over Dejan Kulusevki. The Bianconeri will receive EUR30 million, payable over six financial years, for a capital gain to Juventus' coffers of EUR12.8 million.

doValue, on the other hand, gave up 4.0% to EUR4.48, reversing downward after five straight sessions among the bullish.

Brunello Cucinelli left 2.7% on the parterre after a 2.2% gain on Friday night.

Maire gave up 1.6 percent after announcing Thursday its participation in Euronext Tech Leaders, the new initiative dedicated to leading, high-growth Tech companies developed by Euronext, the leading pan-European market infrastructure that manages the regulated stock exchanges of Belgium, France, Ireland, Italy, Norway, the Netherlands and Portugal.

On the Small-Cap, Itway rallied more than 12 percent on the back of the green in the last session that closed with a plus 2.6 percent.

Good buys also on Zucchi, which took home 0.9% after the same rise on Friday night.

Somec, on the other hand, rose 1.3 percent. On Friday, it reported that its U.S. subsidiary Fabbrica was awarded a new contract for a 34-story building in New York City. The contract is worth more than USD23 million and consists of the design, manufacture, and installation of more than 12,000 square meters of custom curtain walling intended for a new building to be constructed on Ninth Avenue, an artery on Manhattan's West Side, a few blocks from Madison Square Garden and the Empire State Building.

At the back of the pack, Pierrel gave up 9.1 percent on the heels of Friday's 3.0 percent red.

Among the SMBs, Bellini Nautica gave up 6.1 percent, subject to profit taking after four bullish sessions.

Deodato.Gallery, on the other hand, lost 4.4%, on the heels of the previous two bearish sessions.

Relatech - flat at EUR2.45 - announced Friday that it had entered into binding agreements aimed at acquiring the remaining 40 percent of Sigla Group's share capital, for a total of EUR715,000.

The board of GO internet - down 0.9 percent - on Friday approved the new business plan 2023-2027 drafted in line and continuity with the previous Plan approved on June 8, 2020. The plan forecasts revenues between EUR15.5 million and EUR16.5 million, Ebitda between EUR2.5 million and EUR3.0 million, an Ebitda margin between 17 percent and 18 percent, and a negative Net Financial Position between EUR2.8 million and EUR2.0 million.

Among currencies, the euro changed hands at USD1.0922 against USD1.0924 on Monday's European equities close. In contrast, the pound is worth USD1.2778 from USD1.2799 last night.

Among commodities, Brent crude is worth USD75.91 per barrel versus USD76.41 per barrel at Monday's close. Gold, meanwhile, trades at USD1,949.20 an ounce from USD1,955.70 an ounce last night.

On Tuesday's macroeconomic calendar, at 1000 CEST, the Eurozone current account balance is due, one hour ahead of construction output.

From the U.S., at 1430 CEST, will come construction permits while, at 1745 CEST, a speech by Williams of the FOMC is scheduled.

Among the companies in the Piazza Affari, Avio's results are expected.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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