(Alliance News) - On Tuesday, the Mib moves down just below the 34,200 area, underperforming against other major European exchanges as the financial sector acts as a bearish driver, partly because of growing speculation about the Fed cutting interest rates this year, following a weaker-than-expected ISM manufacturing PMI.

Thus, the FTSE Mib is in the red 1.3 percent to 34,218.63, the Mid-Cap gives up 0.6 percent to 47,534.68, the Small-Cap is down 0.6 percent to 29,325.67 while Italy Growth moves in the red 0.4 percent to 8,160.62.

In Europe, London's FTSE 100 gives up 0.7 percent, Frankfurt's DAX 40 is in the red 1.2 percent and Paris' CAC 40 is down 0.9 percent.

On the Mib, good performance by Brunello Cucinelli, which advances 1.9% to EUR95.35 per share, on the heels of eve's green with 1.2%.

Also advancing well is STMicrolectronics, which is green by 1.9% to EUR95.40 per share.

BPER Banca is giving up 4.6 percent with new price at EUR4.71 per share, after eve's gain of 0.2 percent.

In contrast, UniCredit is giving up 4.5 percent, with price at EUR35.14, after eve's 1.2 percent green. The bank disclosed Tuesday the purchase of 5.8 million shares that took place between May 27 and 31. The shares were taken over at an average price of EUR36.2431 for a total value of EUR209.3 million.

Generali, on the other hand, is giving up 0.7 percent to EUR23.48 per share. Citigroup raised Generali's target price to EUR28.70 from EUR23.36, with a 'buy' recommendation.

On the cadet segment, Ariston Holding is moving well, moving ahead 6.4 percent. Of note, Citigroup has confirmed its target price on the stock at EUR5.80, upgrading its recommendation to 'buy'.

Juventus FC, meanwhile, advances 1.7 percent to EUR1.95 per share, rearing its head after two sessions among the bearish.

Webuild - down 1.2 percent - reported on Monday that it bought 20,000 of its own ordinary shares at an average unit price of EUR2.1045 for a total value of EUR42,090 during the period May 27-31. The total number of treasury shares held by the company is thus 24.4 million, representing 2.4 percent of its ordinary share capital.

Philogen, on the other hand, is giving up 2.8 percent to EUR9.01 per share, breaking a seven-session bullish trend.

On the Small-Cap, Exprivia is advancing 3.7 percent to EUR1.70 per share, on the heels of the eve's green close of plus 0.3 percent.

In contrast, Fidia advances 4.2% to EUR0.74, rebounding after two sessions closed among the bearish.

Conafi, on the other hand, marks minus 4.1%, in its second bullish session.

Among SMEs, Impianti moves ahead 9.0% to EUR0.38 after two bearish sessions.

Ambromobiliare moves up 6.1%, after two sessions closed in the red.

Pasquarelli Auto--up 7.3%--reported Tuesday that it has signed a contract with Car Mobility Srl for the concession to sell vehicles from Chinese manufacturer Dongfeng Motor Corporation.

The contract, which came into effect on Monday and has a five-year term, stipulates that Pasquarelli Auto will distribute Dongfeng Motor Corporation's vehicles - electric, ICE and Hybrid cars - and provide all pre-sales and after-sales services, as well as ensure routine and extraordinary servicing of the cars.

Cyberoo - flat at EUR3.35 - announced Tuesday that as of June 10, operations will also be launched in Spain and Portugal. "A little more than a year after the opening of the Warsaw office, the company continues its strategy of expansion abroad, this time focusing on the Iberian Peninsula, a market in constant development," reads the company note.

In New York overnight Europe, the Dow closed down 0.3 percent at 38,571.03, the Nasdaq rose 0.6 percent to 16,828.67, and the S&P 500 gained 0.1 percent to 5,283.40.

Among currencies, the euro changed hands at USD1.0886 from USD1.0886 in Monday's European stock close while the pound was worth USD1.2754 from USD1.2788 on Monday evening.

Among commodities, Brent crude is trading at USD76.76 per barrel from USD78.43 per barrel on Monday. Gold, on the other hand, trades at USD2,331.70 an ounce from USD2,341.10 an ounce on Monday evening.

Tuesday afternoon's macroeconomic calendar includes from the US at 1600 CEST the Durable Goods and New Jobs Jolts data, while at 2230 CEST it is the turn of weekly oil inventories.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.