(Alliance News) - On Tuesday, major European indexes remain in bearish area at mid-session while Piazza Affari mitigates losses thanks to the positive performance of oil stocks.

Thus, the FTSE Mib gives up 0.3 percent to 33,739.49, the Mid-Cap gives up 0.9 percent to 47,432.43, the Small-Cap is in the red 0.5 percent to 28,992.47 while Italy Growth picks up 0.1 percent to 8,145.52.

In Europe, London's FTSE 100 gives up 0.2 percent, Frankfurt's DAX 40 gives up 1.0 percent while Paris' CAC 40 gives up 0.5 percent.

On the macro front, the INE reported that the Spanish economy grew 0.8 percent in the first quarter compared to the last three months of 2023. Growth rebounded from 0.7 percent in the fourth quarter of 2023.

On an annual basis, Iberian Gross Domestic Product grew 2.5 percent in the first quarter, accelerating from the 2.1 percent increase in the fourth quarter. This represents the highest annual growth since the first quarter of 2023.

On the Mib, the oil sector contrasted, with Saipem up 2.1% and Eni up 1.0% while Tenaris now gives up 0.1% after opening up 0.6%.

Enel gains 1.4% and Snam is in the green by 0.9%.

Banco BPM - in the red by 1.6% - has set up a EUR2 billion plafond to support Italian companies in the transformation of structures and production processes towards an efficient, sustainable energy model based on renewable energies: with the aim of facilitating access to the facilitating opportunities that will be offered by the Transition 5.0 Plan.

The bank has thus made available, along with financial resources, the broadest medium- to long-term financing solutions for the transition from both the sustainability and digitalization perspectives.

FinecoBank gives up 0.8 percent. On Monday it reported that the S&P Global Ratings agency confirmed its long-term rating 'BBB' with stable outlook, while maintaining its short-term rating 'A-2'.

Telecom Italia -- in the red by 1.3 percent -- on Monday informed that it had set with KKR for July 1 to finalize the sale of NetCo to Optics BidCo.

As a result of the final separation and the need to take into account the economic and equity effects of the transaction, the note released said, "it should be noted that the 2024 corporate calendar, previously published, has been modified to provide that the board of directors will meet on July 31 to examine the preliminary figures as of June 30, 2024, and on September 26 to approve the interim management report."

STMicroelectronics, Interpump, and Leonardo fared worse, giving up 1.8 percent, 19.9 percent, and 3.7 percent.

On the Mid, Fincantieri is down 9.4 percent and does worse than all. De' Longhi is down 3.4% while OVS gives up 3.0%.

Maire Tecnimont, after opening in the green by 0.4 percent, now gives up 0.1 percent after announcing Monday that NextChem, through its subsidiary MyRechemical, a leader in the Waste-to-Chemical segment, has signed a license agreement with DG Fuels Louisiana, LCC in connection with its proprietary NX Circular gasification technology.

The plant, expected to be operational in 2028, will produce 450 million liters per year of Sustainable Aviation Fuel derived from residual biomass and a small portion of municipal waste.

LU-VE is in the red by 0.6 percent. It reported Monday that its board of directors approved the merger of wholly owned subsidiaries Sest Spa and Air Hex Alonte Srl into LU-VE, as previously announced to the market.

d'Amico International Shipping -- in the red by 0.8 percent -- announced Monday that it had signed a new time-charter contract, scheduled to start between the end of the second quarter of 2024 and the beginning of the third quarter of 2024, for one of its MR2 'Eco' vessels, with a reliable counterparty and at a very profitable daily freight rate, for a term of three years.

Among smallcaps, Netweek gives up 4.6 percent and ends at the bottom. Soflab is in the red 3.2% while bioera gives up 3.1%.

Among the bullish, however, CIA gains 6.8% while Bastogi advances 5.0%, followed by SIT, up 4.6%.

Among SMEs, Innovatec advances 7.6 percent. The company announced Tuesday-as part of its growth strategy in renewable energy-the start of work on two photovoltaic plants in Calabria, located in Petilia Policastro and Girifalco, and one in Puglia, in Palo del Colle.

The three plants will produce 20.4 MW, "confirming Innovatec's role as a responsible operator committed to the country's energy transition," the company said.

SolidWorld Group, in the green by 0.3 percent, reported Tuesday that it has implemented the algorithm to engineer the creation of the vasculature of complex human tissues.

"The implementation of this algorithm, for which the company is in the process of obtaining a patent, confirms the group's pioneering role in the biomedical industry in offering cutting-edge solutions for the creation of complex and heterogeneous biological constructs for regenerative medicine and related fields," the company explained.

Expert.ai gives up 0.9 percent. It disclosed Monday that the board approved the appointment of Mario Pardi as its new chief executive officer.

Board member Marco Varone, on the other hand, was appointed as vice-chairman of the board.

Simone -- in the green by 1.1 percent -- announced Monday that it has registered with the Court of Rome the title "Ildiritto.it," an online newspaper dedicated to legal information.

"The publishing initiative is aimed at enhancing the group's web presence, as declared during the IPO, and to maximize the value of the content produced beyond the traditional publication of printed books," reads the company's statement.

In Asia, the Nikkei closed in the green 1.0 percent to 39,173.15, the Hang Seng closed in the green 0.3 percent to 18,072.90, and the Shanghai Composite gave up 0.4 percent to 2,950.00.

In New York, the Dow closed in the green by 0.7 percent to 39,411.21, the Nasdaq finished in the red by 1.1 percent to 17,496.82 while the S&P 500 closed down 0.3 percent to 5,447.87.

Among currencies, the euro changed hands at USD1.0724 from USD1.0728 on Monday in European equities closing while the pound was worth USD1.2690 from USD1.2690 on Monday evening.

Among commodities, Brent crude trades at USD85.64 per barrel from USD85.76 per barrel at Monday's close. Gold, on the other hand, trades at USD2,333.34 an ounce from USD2,329.22 on Monday evening.

Tuesday's macroeconomic calendar features inflation data in Canada at 1430 CEST.

In the US, the consumer confidence report is due at 1600 CEST.

By Chiara Bruschi, Alliance News reporter

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