(Alliance News) - Major European stock markets traveled in the red on Tuesday, with trading floors expressing caution ahead of important economic data, including Eurozone inflation and the U.S. JOLTS report.

On the monetary policy front, the European Central Bank does not yet have sufficient evidence that the inflation threat has passed, said President Christine Lagarde and her top economist, fueling expectations that officials will take a break from cutting interest rates this month.

With the euro zone labor market robust, the ECB has time to assess incoming information, Lagarde said Monday in Sintra, Portugal, where she opened the ECB's annual central banking forum.

Speaking to Bloomberg TV on Tuesday, chief economist Philip Lane said the June inflation reading will not be enough to fully assess service prices, which are being closely watched.

The FTSE Mib, thus, moves down 0.9 percent to 33,424.48.

In Europe, London's FTSE 100 is giving up 0.7 percent, Paris' CAC 40 is giving up 0.9 percent, and Frankfurt's DAX 40 is marking minus 0.7 percent.

Among the smaller lists in Milan, the Mid-Cap is giving up 0.8 percent to 46,653.35, the Small-Cap is in the green 0.3 percent to 28,746.94, and Italy Growth is moving just under 0.2 percent to 8,103.42.

On the Mib, Iveco Group is giving up 2.4 percent to EUR10.38 per share after two sessions closed in the green.

Enel, on the other hand, is giving up 0.9%, after a 1.7% gain on the eve, with price at EUR6.54 per share. Of note, Stifel has resumed coverage on the stock with target price at EUR6.40 per share.

Prysmian - in the green by 0.3 percent - announced that it has completed the acquisition of Encore Wire Corporation. The company acquired for cash all outstanding ordinary shares of Encore Wire for USD290.00 per share.

Telecom Italia--green by 0.6 percent--announced Monday that it had finalized the sale of NetCo to Kohlberg Kravis Roberts & Co through the contribution of TIM's fixed network infrastructure and wholesale business to FiberCop, a 58 percent subsidiary of TIM, and the subsequent acquisition of the entire capital of FiberCop by Optics BidCo, a subsidiary of KKR.

In the cadet segment, Webuild is giving up 1.3 percent. Of note, Mirabella Financial Services raised its short position on the stock to 1.22 percent from 1.16 percent previously.

MARR, on the other hand, is stepping back 1.3 percent to EUR12.00 per share after eve's flat session.

OVS - in the red by 1.2 percent - reported Monday that between June 24 and June 28 it bought 754,541 ordinary shares at an average unit price of EUR2.5985 for a total value of nearly EUR2.0 million.

Maire Tecnimont -- in the green by 1.5 percent -- on Tuesday reported that NextChem has been awarded new contracts worth a total of about EUR30 million from major international clients, mainly in the Middle East and Europe.

On the Small-Cap, Beghelli sprinted up 2.9% to EUR0.249, rearing its head again after two bearish sessions.

TXT e-solutions - in the letter with 0.2% - announced the acquisition of 100% of the capital of Refine Direct Srl, a company born in 2016 from a project of the current selling partners that to date boasts proprietary technologies and specialized skills in the field of digital marketing, with an offer linked to a multi-channel platform based on artificial intelligence algorithms for data analysis.

Civitanavi Systems - flat at EUR6.12 - announced Monday evening that Lockheed Martin has invested USD10 million in PV-Labs, a Canadian company specializing in advanced airborne imaging solutions, to accelerate the development and production of PV-Labs' FAST technology, standing for Fifth- generation Advanced Stabilization Turret. Civitanavi Systems holds a 30 percent stake in PV-Labs purchased last year, with an option to purchase the remaining 70 percent within five years.

At the back of the pack is Pininfarina, which gives up 2.4 percent to EUR0.74 per share after eve's flat session.

Among SMEs, boost on Franchetti, which moves up 5.6% to EUR7.60, heading for ninth session to close with bullish candle.

ESPE - in the green by 0.9 percent - announced that it has proceeded with the notarized deed of contribution inherent in the Operation & Maintenance business unit in favor of Reflow, a company active in the O&M market, mainly in the wind power plant sector based in Carmignano di Brenta in Padua, consequently assuming control

by right.

At the back end, Altea Green Power is giving up 2.4 percent to EUR7.00 per share.

Energy, on the other hand, is giving up 1.8 percent to EUR1.35 per share, in its third bearish session.

In New York on Monday, the Dow rallied 0.1 percent, the Nasdaq advanced 0.8 percent, and the S&P was green by 0.3 percent.

In Asia, the Hang Seng is marking green by 0.3 percent, the Nikkei picked up 0.1 percent, while the Shanghai Composite closed in the green by 0.1 percent.

Among currencies, the euro changes hands at USD1.0715 from USD1.0723 on Monday in European equities closing while the pound is worth USD1.2616 from USD1.2641 on Monday evening.

Among commodities, Brent crude is trading at USD86.58 per barrel from USD85.33 per barrel at yesterday's close. Gold, on the other hand, trades at USD2,325.18 an ounce from USD2,321.13 on Monday evening.

Tuesday's macroeconomic calendar features Italian unemployment at 1000 CEST.

At 1100 CEST, space is given to the Italian government deficit and Eurozone inflation, which will come in conjunction with the eurozone unemployment rate.

Focus on the speech by Jerome Powell, number one at the Federal Reserve, at 1530 CEST, and that of the president of the European Central Bank, expected at the same time.

From the U.S., eyes on new jobs JOLTs, due at 1600 CEST, and weekly oil stocks, expected at 2230 CEST.

Among the companies in the stock market, CleanBnB and SosTravel.com are expected to report results.

By Maurizio Carta, Alliance News reporter

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