(Alliance News) - European stock markets continued to trade higher on Tuesday, buoyed by the extension of the trade truce between the US and China.
President Trump has extended the suspension of tariffs on Chinese goods for another 90 days, until November 10. This move was followed by a similar announcement from Beijing, which extended its own suspension of tariffs.
On the macroeconomic front, new data from the UK confirmed a continued cooling of the labor market, despite wage growth remaining at high levels.
As a result, the FTSE Mib is up 0.4% at 41,743.21 points.
The Mid-Cap is down 0.2% to 55,596.95, the Small-Cap is up 0.1% to 33,025.41, while the Italy Growth is up fractionally to 8,342.59.
The FTSE 100 in London is up 0.3%, as is the CAC 40 in Paris, while the DAX 40 in Frankfurt is down 0.3%.
Back in Milan, among the few losers was Nexi, down 0.6% to EUR6.55 per share, heading for its third session of declines. On Monday, it announced that it had purchased 1.6 million ordinary shares between August 4 and 8 at an average price of EUR5.2010 per share, for a total value of EUR8.2 million.
Campari also fell 0.6%, following a 0.5% decline the previous day, with a price of around EUR 6.55 per share.
Leonardo rose 2.1% to EUR 46.06, after three sessions of decline.
Stellantis rose 1.2% to EUR 8.11 per share, after falling 0.8% the previous day.
UniCredit, up 0.7%, announced on Tuesday that between August 4 and 8, it had acquired 1.9 million ordinary shares at an average price of EUR64.7187 each, for a total value of EUR124.5 million. The company now holds 5.8 million shares, equal to 0.4% of the share capital.
Banca Mediolanum rose 1.0% to EUR16.85 per share. It should be noted that Deutsche Bank raised its target price on the stock to EUR18.10 from the previous EUR17.20.
On the Mid-Cap, Comer Industries is down 2.7% to EUR36.60, following a 0.3% decline in the previous session.
CIR, down 0.2%, announced on Monday that it had purchased 600,000 ordinary treasury shares between August 4 and 8. The average unit price was EUR0.6212, for a total value of approximately EUR373,000.
Salvatore Ferragamo rose 0.9% to EUR 4.48 per share, after a 3.4% decline the previous day.
Technoprobe - up 0.5% - announced on Monday that it had purchased 565,000 ordinary treasury shares between August 4 and 8 at an average price of EUR 6.8433 for a total value of EUR 3.8 million.
Italmobiliare - up 0.6% - announced on Monday that, as part of its share buyback program, a total of 10,166 shares, equal to 0.024% of the share capital, were purchased between August 5 and August 8. The average unit price was EUR27.3467 per share, for a total value of EUR278,000.
On the Small-Cap market, Pininfarina gained 2.9% to EUR0.8520 per share, its third session with a bullish candle.
Tessellis rose 9.2%, rebounding after an eleven-session downtrend.
Enervit rose 3.7% to EUR3.94 per share, updating its new 52-week high.
Landi Renzo rose 1.4%. Last week, the company reported its first-half financial results, with consolidated revenues reaching EUR 129.2 million. This result was mainly driven by the Green Transportation sector, which generated EUR 84.7 million, and Clean Tech Solutions, which contributed EUR 44.5 million.
Among SMEs, Execus rose 7.8% after falling 0.7% the previous day.
UCapital24 - up more than 11% - announced on Monday that, as part of its technological development program, it has introduced an artificial intelligence system applied to its services in the economic and financial sectors, effective immediately.
Among the losers, DBA is down 4.1%, heading for its fifth session to close with a negative balance.
In New York, during the European night, the Dow Jones closed down 0.5%, while the Nasdaq lost 0.3%, as did the S&P 500.
Among Asian markets, the Hang Seng closed up 0.3%, the Shanghai Composite advanced 0.5%, while the Nikkei closed up 2.2%.
On the currency front, the euro traded at USD 1.1605 from USD 1.1601 at Monday's stock market close, while the pound traded at USD 1.3460 against USD 1.3407 at the previous close.
Among commodities, Brent crude traded at USD 66.72 per barrel from USD 66.70 per barrel at Monday's stock market close, while gold was worth USD 3,348.35 per ounce from USD 3,350.50 per ounce on Monday evening.
On Tuesday's economic calendar, CPI data from the US is due at 2:30 p.m. CEST, while weekly oil inventories will be released at 10:30 p.m. CEST.
By Maurizio Carta, Alliance News reporter
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