(Alliance News) - European stock markets are set to open lower on Tuesday, heading for a fourth consecutive session of declines amid global losses and persistent concerns over tech sector valuations.
Market focus is firmly on Nvidia's third-quarter results and the company's forward guidance, widely regarded as a key barometer for the future trajectory of the entire artificial intelligence sector.
Meanwhile, investors are also awaiting a series of U.S. macroeconomic data--now available again following the end of the government shutdown--in search of clues to determine the Federal Reserve's next moves on monetary policy.
On Monday, the FTSE Mib closed down 0.51% at 43,767.287 and is now posting a loss of 667.50 points in early trading.
Across Europe, London's FTSE 100 is down by 124.80 points, Paris's CAC 40 has dropped 124.90 points, and Frankfurt's DAX is retreating by 360.00 points.
Among secondary indexes, last night the Mid-Cap fell 0.2% to 57,422.43, the Small-Cap slipped 0.8% to 34,920.43, while Italy Growth rose 0.1% to 8,434.04.
On the Mib, Hera led the pack, rising 1.8%. The stock pulled other utilities higher, with Enel up 1.2%, as was Leonardo, while Terna gained 1.0%.
Snam--up 0.4%--announced it had mutually agreed with Infinity Investments, a subsidiary of ADIA, to terminate the agreement signed on April 7 for Snam's acquisition of a 24.99% stake in Open Grid Europe.
The company clarified that the termination of the deal does not alter its 2025 guidance announced on November 5, which projects an adjusted net profit of around EUR 1.42 billion and net debt of about EUR 18 billion.
Telecom Italia--up 0.6%--announced Monday the signing of a strategic agreement with Nokia to expand and modernize its 5G network, enhancing group customer services and supporting the rollout of ultra-broadband in underserved areas.
The deal will enable faster and more stable mobile performance, superior network quality in both urban and rural areas, and reduced response times for digital applications and cloud services, improving streaming, gaming, remote collaboration, and solutions for businesses and public administration.
Among the losers, Brunello Cucinelli dropped 3.5%. STMicroelectronics was also down, falling 2.8%.
Nexi endured another tough start to the week, also pressured by continued declines at Worldline, the main European competitor in credit card and payment systems. Nexi closed down 2.5%.
As Alliance News columnist Francesco Bonazzi writes, "Nexi is still suffering from the results announced two weeks ago, with EBITDA for the first nine months disappointing analysts. The market continues to hope for a merger with the French, although so far there have only been denials from those directly involved."
"Market capitalization complicates matters, as Worldline has crashed in the past year and is now worth EUR 521 million, compared to Nexi's EUR 4.6 billion."
On the Mid-Cap segment, SOL rose 1.6%. On Monday, the company announced that its wholly owned subsidiary AIRSOL and Green Flame Gas Co, owned by the Kuwaiti Al-Qattan family, have established VIVISOL Kuwait.
The new joint venture, 51% owned by AIRSOL and 49% by Green Flame Gas Co, has opened its headquarters in Kuwait City.
ERG--up 2.6%--announced Friday that non-executive director Luca Bettonte has, for personal reasons, irrevocably resigned from the board of directors and the Strategic Committee, effective November 17.
Pharmanutra fell 2.3% after announcing Monday it had been ranked 190th in the "World's Best Companies - Sustainable Growth 2026" list published by U.S. weekly Time, which identifies the 500 top-performing companies in sustainable development.
On the Small-Cap, EuroGroup Laminations lost 0.2%. The company approved its nine-month results, closing with a net profit of EUR 2.6 million, a sharp slowdown from EUR 21.6 million in the same period of 2024.
Mondo TV slipped 0.8%. The company announced Friday the signing of new distribution contracts in the Asian market, considered a strategically important area for the group.
The agreements cover the animated series Lola On Board, licensed to the Senyu group, while Agent203 and Lulu Vroumette will be distributed through G&CO.
Somec--down 4.5%--reported Monday consolidated revenues of EUR 271.1 million for the first nine months of the year, up 1.3% at constant exchange rates and a slight increase from EUR 270 million as of September 30, 2024.
The performance was mainly driven by the Mestieri division, up 17%, and Talenta, which grew by 4.2%.
Among the gainers, PLC topped the list with a 6.7% rise. Fiera Milano also performed well, up 4.6%.
Among SMEs, Casta Diva soared over 16%. On Monday, the company announced significant changes in shareholdings and voting rights. Majority shareholder Reload reduced its voting rights stake from 68.33% to 54.16%, following the conversion of over 3 million multi-vote shares into ordinary shares. As of today, Reload holds about 6.4 million multi-vote shares, representing 31.75% of share capital and 54.16% of voting rights.
At the same time, Alkemia Capital, on behalf of the "PIPE" fund, crossed the 10% share capital threshold by acquiring ordinary shares from Reload. The company now holds more than 2.0 million shares, equal to 10.07% of share capital and 5.72% of voting rights.
Hoop Club also announced the purchase of 966,000 ordinary shares through its subsidiary Astra, representing 4.82% of share capital and 2.74% of voting rights.
Bellini Nautica--not traded--announced Monday that its subsidiary Bellini Yacht has signed a partnership agreement in Croatia to strengthen its European dealer network.
In New York, the Dow fell 1.2%, the Nasdaq dropped 0.8%, and the S&P 500 lost 0.9%.
In Asia, the Nikkei declined 3.2%, the Shanghai Composite lost 0.8%, and the Hang Seng is down 2.1%.
On the currency front, the euro is trading at USD 1.1598 from USD 1.1596 at Monday's equity close, while the pound is at USD 1.3161 from USD 1.3169 on Monday evening.
Among commodities, Brent crude is trading at USD 63.69 per barrel from USD 64.30 at Monday's close, while gold is at USD 4,007.44 per ounce from USD 4,060.09 per ounce Monday evening.
Tuesday's economic calendar includes, at 1300 CET, China's October foreign direct investment data.
In the U.S., at 1430 CET, import and export price data will be released, followed by annual industrial production figures at 1515 CET.
On the Milan Stock Exchange, nine-month results are expected from ICF Group and Ratti.
By Maurizio Carta, Alliance News reporter
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