(Alliance News) – On Tuesday, major European stock markets are expected to be in positive territory on a quiet morning in macroeconomic terms, as news on the state of the economy arrives from Germany.
Thus, the FTSE Mib opens in the green by 0.4 percent at 33,733.13, the Mid-Cap is tied at 46,937.53, the Small-Cap rises 0.1 percent to 28,902.79, while Italy Growth is up 0.1 percent at 8,068.13.
In Europe, Paris’ CAC 40 is in the green by 0.3 percent, London’s FTSE100 is up 0.6 percent and Frankfurt’s DAX 40 is in the green by 0.1 percent.
In macroeconomic news, the German economy shrank in the second quarter of 2024 compared to the first quarter, but remained stable compared to a year earlier.
The Federal Statistical Office said Tuesday that Germany’s Gross Domestic Product declined 0.1 percent in the second quarter compared to the first quarter. The reading was unchanged from the estimate provided in late July and in line with the market consensus cited by FXStreet.
However, GDP was unchanged from a year earlier. This is an upward revision from the previously reported annual decline of 0.1 percent, which was also the market expectation.
On the main list in Piazza Affari, Enel takes the top spot and rises 1.5 percent. Also doing well are ERG and Campari, both up 1.3 percent.
Among the bearers is Banca Monte dei Paschi di Siena, down 0.4 percent, preceded by Leonardo, which gives up 0.3 percent, and Brunello Cucinelli, down 0.2 percent, as does Interpump Group.
On the Mid-Cap, Juventus rises 0.9%, after reaching an agreement with ACF Fiorentina to acquire, on a temporary basis until June 30, 2025, the rights to the sports performance of the player Nicolas Ivan Gonzalez for a consideration of EUR8 million, plus ancillary charges of EUR400,000.
The club explained that the agreement also includes an obligation on the part of Juventus to permanently acquire the player’s sports performance upon the occurrence of certain conditions during the 2024/2025 football season. The agreed consideration for the eventual outright acquisition is EUR25 million, payable in three fiscal years.
On the negative note, there are Moltiply Group, Zignago Vetro and Fincantieri, inca lo between 1.0 percent and 0.7 percent.
On the Small-Cap, green for Pininfarina, which rises 1.3 percent. The company on Monday announced the signing of a commercial agreement with a major OEM covering development and production activities.
The contract, which includes some preliminary concept activities already executed on the basis of specific orders starting in 2023, is worth more than EUR90 million and lasts until April 2026.
Zucchi – in the red by 2.9 percent – reported Thursday that the conditions for the distribution of a dividend for last year had not been met.
Shareholders had approved in June the distribution of a coupon – to be paid at the end of August – of EUR0.1184, for a total value of EUR3.0 million.
The distribution of the dividend was subject to the fulfillment, by August 23, of the conditions stipulated in the facility agreement signed in December 2021 between the company and illimity Bank Spa. As these conditions have not been met, the dividend will not be distributed.
Among SMEs, Cube Labs is still not trading. The company announced Monday that startups Adamas Biotech and DTech, both 51 percent controlled by the company and 4 percent and 9 percent, respectively, through the trust of which Cube Labs itself is the sole beneficiary, won the selection of the call issued by the National Biodiversity Future Center, the first national research and innovation center dedicated to biodiversity, coordinated by the National Research Council.
Under the call, aimed at industrial research and experimental development projects, Adamas Biotech was awarded EUR405,806 in funding while DTech was awarded EUR373,606. These funds will be allocated for the development of cutting-edge technologies in biotechnology and health.
Alfonsino-not yet affected by the exchanges-reported Monday that it has signed an agreement with Moderna 2020 Srl to activate home delivery service at 36 outlets in the locations served by Alfonsino.
Moderna 2020 owns the Grand Eté, Eté PRime and Eté Smarty brand supermarkets. The agreement calls for activation first in Salerno and then extension to the other 35 municipalities served by Alfonsino.
In Asia, the Nikkei rallied 0.5 percent, the Hang Seng rose 0.3 percent and the Shanghai Composite gave up 0.2 percent.
In New York on European night, the Dow closed up 0.2%, the Nasdaq fell 0.9%, and the S&P 500 lost 0.3%.
Among currencies, the euro changed hands at EUR1.1166 against Monday’s EUR1.1164 in closing European equities while the pound was worth USD1.3202 from USD1.3183 on Monday night.
Among commodities, Brent crude is trading at USD80.28 per barrel versus USD80.95 per barrel at Monday’s close. Gold, on the other hand, trades at USD2,543.80 an ounce from USD2,517.20 an ounce on Monday evening.
On Tuesday’s macroeconomic calendar, at 2230 CEST from the U.S., the weekly oil stocks figure is due.
Among the companies in the Piazza Affari, no particular events are scheduled.
By Claudia Cavaliere, Alliance News reporter
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