Mib Closes Lower at 39,900; Prysmian Leads as Top Performer

(Alliance News) - The Mib ended Tuesday in negative territory around the 39,900 mark, weighed down by concerns over fresh tariff threats from US President Donald Trump.

On Monday, the European Union accused Washington of a lack of cooperation in efforts to reach a trade agreement and warned of countermeasures should a deal not be reached. All this, as widely reported, followed Trump's Saturday announcement of a 30% tariff on imports from the European bloc.

On the economic data front, the annual inflation rate in the US accelerated for the second consecutive month, reaching 2.7% in June. This marks the highest level since February, up from 2.4% in May and in line with expectations.

As a result, the FTSE Mib closed down 0.7% at 39,921.25 points.

Across other European markets, Paris' CAC 40 slipped 0.5%, Frankfurt's DAX 40 lost 0.3%, while London's FTSE 100 dropped 0.6%.

Among the secondary indices, the Mid-Cap fell 0.4% to 54,592.54 points, the Small-Cap ended down 0.7% at 31,858.06 points, while Italy Growth gained 0.2% to 8,280.26 points.

On the Mib, Prysmian stood out, closing up 1.9% at EUR62.00 per share. Notably, UBS raised its target price on the stock to EUR72.00 from EUR70.00, maintaining a 'buy' recommendation.

Stellantis also rose, gaining 1.1% to EUR8.53 per share after two sessions of losses.

Nexi--up 0.9%--announced on Monday that it had bought back 1.8 million of its own ordinary shares between July 7 and 11. The shares were purchased at an average price of EUR5.1720 each, for a total value of EUR9.3 million.

Intesa Sanpaolo--down 1.1%--reported on Monday that it had bought back 14.4 million of its own ordinary shares between July 7 and 11. The shares were acquired at an average price of EUR4.9118 each, for a total consideration of EUR70.6 million.

Recordati, meanwhile, dropped 3.5% to EUR52.10. Barclays cut its target price on the stock to EUR50.00 from EUR52.00.

On the Mid-Cap segment, Carel Industries showed strength, closing up 4.4% at EUR23.75. During the session, the stock set a new 52-week high at EUR23.95.

CIR--up 3.0%--announced on Monday it had purchased 254,576 shares between July 7 and 11 at an average price of EUR0.5913 each, for a total value of approximately EUR150,000.

OVS continued its buyback program--down 1.1%--reporting on Monday it had purchased 150,624 ordinary shares for a total value of around EUR545,000.

GVS, meanwhile, fell 4.8% to EUR5.11 per share after two sessions of gains.

On the Small-Cap index, Elica--up 6.9%--announced Tuesday it had received approval from the relevant Chinese authorities to complete the acquisition of 100% of the share capital of its Chinese subsidiary Elica Home Appliances - Zhejiang - Co - Putian. The operation includes the purchase of the remaining 0.56% stake from FUJI Industrial Co.

Caleffi, meanwhile, gained 5.9% to EUR0.7920, following a 0.3% gain on Monday evening.

On Tuesday, Safilo Group--down 0.4%--reported it had continued its buyback program by purchasing 493,060 ordinary shares for a total value of around EUR512,000.

doValue, on the other hand, fell 8.9%, after gaining 0.8% in the previous session.

Among SMEs, Ambromobiliare shed over 11%, hit by profit-taking after three sessions of significant gains.

AATech--down 3.3%--announced Tuesday that its board of directors had approved the document relating to the acquisition of all shares constituting the share capital of Business Innovation Lab.

BIL, a fintech company heading the group of the same name, is among Italy's leading operators in lending-as-a-service, buy-now-pay-later, and credit AI services, and owns the "Opyn" platform.

SG Co--down 1.2%--reported Tuesday it closed the first half with a total value of EUR41.1 million, combining consolidated revenue of EUR26.7 million and an order book of EUR14.4 million.

The total marks an 11% increase from the previous quarter's EUR37 million and about a 19% rise over the full 2024 figure of EUR34.6 million.

Cloudia Research, meanwhile, was among the minority of gainers, ending up 8.8% after a 3.4% loss in the previous session.

In New York, the Dow is down 0.6%, the Nasdaq is up 0.6%, while the S&P 500 is just above flat.

In currency markets, the euro is trading at USD1.1611, down from USD1.1680 at Monday's close, while the pound is changing hands at USD1.3393 from USD1.3440 Monday evening.

Among commodities, Brent crude is trading at USD68.97, down from USD69.55 a barrel at the previous close, while gold is at USD3,340.20 from USD3,347.01 an ounce on Monday evening.

Looking ahead to Wednesday's economic calendar, at 0800 CEST the UK CPI report is due, alongside retail prices. At 1000 CEST, Italy will release its CPI data, followed an hour later by the trade balance figures.

From the US, at 1300 CEST, the mortgage market report is due, while at 1430 CEST, producer price data will be released. At 1515 CEST, attention turns to industrial and manufacturing production figures.

At 2230 CEST, an address by FOMC member Williams is scheduled.

On the corporate calendar, Saccheria F.lli Franceschetti is set to release its half-year results.

By Maurizio Carta, Alliance News Reporter

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