(Alliance News) - On Tuesday, the main European stock markets closed in negative territory on a day that showed an increasingly entrenched risk-averse sentiment.

"Traders remained risk-averse as concerns about excessive tech valuations and Nvidia's upcoming earnings dragged down major tech stocks, while delayed economic data releases and weak US labor market data fueled fears that the Fed may pause rate cuts," said Axel Rudolph, Senior Technical Analyst at IG.

"Improved sentiment among US homebuilders and a rebound in factory orders in August were ignored by financial markets, which were dominated by fears of disappointing results from Nvidia."

As a result, the FTSE Mib closed down 2.1% at 43,838.64, the Mid-Cap fell 1.3% to 56,651.36, the Small-Cap lost 0.5% to 34,757.28, and Italy Growth recorded a decrease of 1.1% to 8,338.81.

In Europe, London's FTSE 100 closed down 1.3%, Paris' CAC 40 lost 1.9%, and Frankfurt's DAX fell 1.8%.

On the Mib, Hera was the only stock in positive territory, up 0.8%.

Among the losers, Telecom Italia was at the bottom, down 6.7%. On Monday, the company announced the signing of a strategic agreement with Nokia to expand and modernize its 5G network, enhancing services to the group's customers and contributing to the spread of ultra-broadband in underserved areas.

The agreement will enable faster and more stable mobile performance, superior network quality in urban and rural areas, and reduced response times for digital applications and cloud services, while also improving streaming, gaming, remote collaboration, and solutions for businesses and public administration.

Stellantis is also down, falling 4.4%. Banks are slowing down, with MPS down 3.7%, Pop Sondrio down 3.5%, and BPER Banca down 3.4%.

Eni, down 1.2%, announced on Tuesday that its subsidiary Plenitude has signed an agreement to acquire a portfolio of 52 operating assets from Neoen, one of the leading companies in the renewable energy sector, including 37 photovoltaic plants, 14 wind farms, and one operational battery, for a total of approximately 760 MW of installed capacity located throughout France.

The assets produce approximately 1.1 TWh of electricity per year.

Among other oil companies, Tenaris fell 2.1% and Saipem lost 2.5%.

In the junior segment, as announced by the ECB, Credem - down 3.0% - remains the most solid bank in Italy, among the top three in Europe and second among European commercial banks, consolidating a record that has lasted for years.

At the heart of this recognition is the Pillar 2 Requirement, set at 1.25%, a value that highlights the ECB's confidence in the institution's ability to manage risks not fully covered by the minimum requirements.

SOL fell by 1.1%. On Monday, the company announced that its wholly-owned subsidiary AIRSOL and Green Flame Gas Co, owned by the Kuwaiti Al-Qattan family, had formed VIVISOL Kuwait.

The new joint venture, owned 51% by AIRSOL and 49% by Green Flame Gas Co, has opened its headquarters in Kuwait City.

Pharmanutra fell 2.7% after announcing on Monday that it had been ranked 190th in the "World's Best Companies - Sustainable Growth 2026" ranking published by the American weekly magazine Time, which identifies the 500 companies with the best performance in the field of sustainable development.

On the Small-Cap market, Mondo TV fell 6.8%. On Friday, the company announced the signing of new distribution contracts in the Asian market, considered an area of strategic importance for the group.

The agreements concern the animated series Lola On Board, licensed for distribution to the Senyu group, while the series Agent203 and Lulu Vroumette will be distributed through G&CO.

Somec, down 6.0%, announced on Monday that it had reported consolidated revenues of EUR 271.1 million in the first nine months of the year, an increase of 1.3% at constant exchange rates and a slight increase compared to the EUR 270 million recorded on September 30, 2024.

The performance was mainly driven by the Mestieri division, up 17%, and Talenta, which recorded growth of 4.2%.

Among the gainers, Bestbe Holding rose 6.4%. Cy4Gate also performed well, up 5.5%.

Among SMEs, Smart Capital - not affected by trading - announced on Tuesday that it had launched a capital increase of approximately EUR 8 million, approved on November 11.

The transaction involves the issue of a maximum of 4.8 million new Smart Capital shares, with no par value, offered to shareholders at a ratio of 55 new shares for every 337 held, at a subscription price of EUR 1.65, of which EUR 1 is allocated to capital and EUR 0.65 to share premium.

Novamarine, which did not trade, approved a capital increase and shareholder financing in favor of its wholly-owned subsidiary Tornado, established on July 28 for the production and marketing of Tornado brand boats.

The board approved a divisible capital increase of up to EUR 1 million to be paid in cash through subscription by the sole shareholder Novamarine, and a temporary, interest-free shareholder loan of EUR 800,000, payable in tranches and repayable within five years.

Circle rose 4.0%. The stock announced on Monday that its nine-month production value rose 80% year-on-year to EUR18.2 million from EUR10.1 million in the same period last year.

Revenues from Proprietary Software products rose to EUR 6.2 million from EUR 2.7 million, and those from Milos Federative Services rose to EUR 2 million from EUR 800,000.

The group's multi-year backlog, calculated on the basis of management data and with visibility until 2026, stood at EUR 33.4 million as of September 30, up from EUR 31 million as of June 30.

In New York, the Dow is down 0.9% to 46,184.02, the Nasdaq is down 0.9% to 22,496.37, and the S&P 500 is down 0.6% to 6,632.72.

On the currency front, the euro is trading at USD 1.1574 from USD 1.1596 at Monday evening's stock market close, while the pound is trading at USD 1.3139 from USD 1.3169 on Monday evening.

Among commodities, Brent crude is trading at USD 64.11 per barrel from USD 64.30 per barrel at Monday evening's close, while gold is worth USD 4,065.21 per ounce from USD 4,060.09 per ounce on Monday evening.

Wednesday's economic calendar opens at 0050 CET with Japan's trade balance.

At 0800 CET, it is the turn of October inflation data in the UK and the producer price index.

At 0900 CET, Eurozone current account data will be released. At 1100 CET, it will be the turn of Eurozone inflation data.

At 1200 CET, Spain's consumer confidence index is released.

At 1300 CET, US mortgage data will be published, while at 1430 CET the US trade balance will be released, followed by September industrial production at 1515 CET.

Among the companies listed on the Italian stock exchange, MFE-MediaForEurope's nine-month results are eagerly awaited.

By Claudia Cavaliere, Alliance News reporter

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