(Alliance News) : Easing tensions in the Middle East are pushing markets into positive territory on Tuesday following reports from Iran and the U.S. of a preliminary agreement expected to be signed in Geneva this Friday.

According to sources from both nations, although the text of the memorandum has not yet been made public, the deal will involve the removal of restrictions that have hindered Iranian naval passage and the free movement of vessels through the Strait of Hormuz.

Oil prices recorded a 5% drop yesterday alone, while gold surpassed the $4,300 threshold, regaining momentum after a 2% gain in the previous session.

On the domestic front, the Antitrust Authority has opened proceedings against Apple regarding compliance with interoperability obligations under the Digital Markets Act. The tech giant is alleged to have failed to meet these requirements for its iOS and iPadOS operating systems.

Against this backdrop, the MIB opened up 1.0% at 52,342.09 points, the Mid-Cap rose 0.7% to 66,376.43, the Small-Cap gained 0.3% to 36,860.92, and Italy Growth edged up 0.2% to 9,157.80 points.

European peers are also in the green: the CAC 40 is up 0.3%, the DAX 40 rose 0.1%, and the FTSE 100 gained 0.2%.

On the blue-chip index in Piazza Affari, banking consolidation continues to take center stage. The board of Banco BPM, whose shares are up 1.2%, will meet today to assess the banking landscape. This follows the June 8 merger-of-equals proposal with MPS, up 0.8%, which was overtaken by a €30.6bn public exchange offer launched by Intesa Sanpaolo.

According to Ansa reports, the board will receive an update from CEO Giuseppe Castagna regarding the Monte dei Paschi dossier.

The clash between UniCredit, up 2.8%, and Commerzbank is intensifying on the eve of the exchange offer's closing. The Frankfurt Prosecutor's Office has launched a preliminary investigation into UniCredit's communications to BaFin regarding offer acceptances, following a complaint by the German bank's supervisory board alleging market manipulation. No formal proceedings have been opened at this time.

Stellantis, trading slightly lower at €6.086, is in the green after confirming a €5bn investment plan for Italy through 2030 to unions. The plan focuses on research and development, with the company reiterating that no plants will be closed and production volumes are set to increase.

Snam, up 0.6%, successfully completed a new capital markets operation, placing a dual-tranche euro bond totaling €1.5bn to support the group's energy transition.

The first component is a €750m European green bond with a four-year maturity, intended to finance projects fully aligned with the EU Taxonomy. The annual coupon is 3.125%, with an issue price of 99.553% and a spread of 47 bps over the reference mid-swap rate.

Telecom Italia, up 1.0%, has completed its ordinary share consolidation at a ratio of one new share for every ten existing shares.

Following the operation, the 21.36bn TIM ordinary shares in circulation have been consolidated into approximately 2.14bn new ordinary shares, without a par value and maintaining the same characteristics as the previous securities.

Intesa Sanpaolo, rising 1.4%, successfully completed the placement of a €1.25bn senior non-preferred green bond with institutional investors, attracting total demand of approximately €2.7bn.

STM trails the basket with a 2.8% decline to €66.52 per share.

On the Mid-Cap index, the deadline for the memorandum granting exclusivity for negotiations between Rai, F2i, and MFE regarding the integration of Rai Way and Ei Towers is approaching, with no imminent agreement yet in sight.

The project aims to create a national broadcast tower operator with approximately 4,700 sites and over €500m in revenue, while maintaining its stock market listing and Rai's control of voting rights. Rai Way shares are up 1.9%.

Juventus Football Club, up 0.9%, has exercised its option for the permanent acquisition of Jérémie Boga from OGC Nice through 2029. Boga remains with the Bianconeri for a consideration of €4.8m, payable over two fiscal years, plus ancillary costs of €800,000.

Acea, up 1.0%, signed a memorandum of understanding with the Governorate of Vatican City State, the Administration of the Patrimony of the Apostolic See, and the Fratello Sole Foundation.

The agreement aims to develop a joint path for the definition, structuring, and progressive implementation of an agrivoltaic plant that the Holy See intends to build within the extraterritorial zone of Santa Maria di Galeria.

BFF Bank started strong, gaining 4.7% to €3.056 per share.

On the Small-Cap index, Piquadro, up 1.2%, approved its consolidated financial statements for the year ending March 31, reporting a profit of €12.9m, an increase of over 11% compared to €11.6m in the previous year. The board will propose a total dividend distribution of €7.0m.

Met.Extra started at the bottom, shedding 3.3% to €2.38, while Fidia rebounded to the top with an 18% gain.

Among SMEs, Promotica, which saw no trades, appointed a new six-member board of directors. Specifically, the board includes Diego Toscani, Gabriele Maifredi, Alvise Gnutti, Michele Grazioli, Michele Andreaus, and Guglielmo Di Silvio.

Circle, up 0.4%, secured new contracts from a leading terminal operator and MTO active in container traffic management and intermodal rail logistics, with a total value of approximately €110,000. The activities involve the evolution of the proprietary MILOS MTO platform, part of the digital suite developed by Circle for multimodal transport management.

Doxee, up 1.7%, approved its 2028 business plan based on three pillars: creating value, expanding the offering, and sustaining growth. Looking at 2026 guidance, total revenues are projected between €32m and €33.5m. Ebitda is expected between €6.4m and €7.0m with a margin between 19% and 20%. Net financial debt is anticipated between €13m and €12m.

IDNTT, up 3.9%, announced the successful subscription of 1.5m new shares as part of a capital increase and the sale of 130,000 treasury shares. The total 1.7m shares were placed at a price of €2.98 per share for a total value of €5.0m.

In New York on Friday, the Dow closed up 0.9% at 51,671.03, while the Nasdaq rose 3.1% to 26,683.94 and the S&P 500 gained 1.7% to 7,554.29.

In Asian markets, the Hang Seng fell 1.7%, the Shanghai Composite closed down 0.1%, while the Nikkei gained 0.2%.

In the currency market, the euro is trading at $1.1593 from $1.1602 on Monday evening, while the pound is at $1.3410 from $1.3437 on Monday evening.

Among commodities, Brent crude is trading at $82.10 per barrel from $83.11 on Monday evening, while gold is valued at $4,326.76 per ounce from $4,352.90 at Monday's close.

Tuesday's macroeconomic calendar includes the ZEW index of German economic conditions at 1100 CEST.

In the U.S., a 20-year bond auction is scheduled for 1900 CEST, followed by the oil inventories report at 2230 CEST.

By Michele Cirulli, Alliance News reporter

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