London Stands Out as Sole Gainer; Cucinelli Shares Surge

(Alliance News) - Major European indices are trading higher on Tuesday as investors await developments in trade negotiations with the US, just weeks ahead of the July 9 deadline for reciprocal tariffs. According to Bloomberg sources, the European Union is reportedly ready to compromise, proposing a universal 10% tariff on most exports while seeking concessions in key sectors such as pharmaceuticals, alcohol, semiconductors, and commercial aviation.

The head of the EU trade commission will lead a delegation to Washington this week to accelerate the talks. On the macroeconomic front, preliminary estimates for Eurozone inflation are expected to confirm the ECB's 2% target for June.

In Italy, the FTSE Mib is down 0.4% at 39,624.38 points.

Among the secondary indices, the Mid-Cap is down 0.1% at 54,200.59, the Small-Cap is losing 0.2% at 31,834.58, while Italy Growth is up 0.1% at 8,207.12 points.

Across Europe, London's FTSE 100 is up 0.2%, Paris' CAC 40 is down 0.2%, and Frankfurt's DAX 40 is down 0.1%.

On the Mib in Milan, Brunello Cucinelli started strong, rising 1.0% to around EUR104.20 per share.

Enel is also advancing, up 0.9% after a modest 0.1% decline in the previous session.

Nexi, on the other hand, is down 0.6% at EUR5.04 per share. Notably, Barclays has cut its target price on the stock to EUR4.50 from EUR4.90.

Leonardo is a notable laggard, down 1.7%, after announcing on Tuesday the acquisition of nearly a 25% stake in Finland's SSH Communications Security Corporation for EUR20 million, strengthening its international cyber portfolio.

Amplifon is also down 0.4%. The company announced Monday it had repurchased 1.2 million of its own ordinary shares between June 23 and June 30, at an average price of EUR19.978 per share, for a total of about EUR23.6 million. Following these purchases, Amplifon holds 4.6 million treasury shares, equivalent to 2.0% of its share capital.

Intesa Sanpaolo, down 1.2%, reported Monday that it bought back 36.5 million shares between June 23 and June 27 at an average price of EUR4.7990, totaling EUR175.3 million. Since the start of the buyback program, the bank has acquired 165 million shares, about 0.9% of its share capital.

On the Mid-Cap, Webuild is performing well, up 2.6% at EUR3.69 per share, marking its fourth consecutive positive session.

Juventus Football Club is down 1.1% after revealing that majority shareholder Exor NV made a second payment towards a future capital increase for a total of EUR15.0 million, on the same terms and for the same purposes as the payment made on March 28, according to the company statement.

Fincantieri is also losing ground, down 1.9% after a 4.6% gain at Monday's close.

d'Amico is down 1.9% at EUR3.38, marking its third consecutive losing session.

On the Small-Cap, Trevi Finanziaria is up 6.1%, posting its ninth consecutive bullish session.

Safilo Group, up 0.8%, and Victoria Beckham have announced the signing of a ten-year global licensing agreement for the creation, production, and distribution of Victoria Beckham-branded eyewear collections. The deal, valid through December 2035, will see the first collection launched for the Spring-Summer 2026 season, available from January that year.

Triboo, up 5.8%, reported Monday that its subsidiary Triboo Digitale Srl has finalized the sale of its 80% stake in ESITE Srl to Alsendo Holdings Sarl for EUR4.4 million, resulting in a capital gain of EUR1.5 million.

Among the decliners, Caleffi is down 2.3% at EUR0.75 per share.

Among SMEs, Laboratorio Farmaceutico Erfo is up 8.9% at EUR1.41 per share, marking its fourth consecutive bullish candle.

Cyberoo, up 0.3%, announced Monday it had repurchased 15,200 of its own ordinary shares between June 23 and June 27 at an average price of EUR1.495 per share, for a total of EUR22,723.12.

Espe, flat at EUR3.10, announced Monday it had signed two new contracts with a leading Italian "Independent Power Producer" for the construction of ground-mounted photovoltaic plants with a total capacity of about 7.1 MWp and a total value of around EUR4.4 million. Completion is expected by the end of fiscal 2025.

In New York, the Dow gained 0.6%, while the Nasdaq and S&P 500 both rose 0.5%.

In Asian markets - with Hong Kong closed for a holiday - the Nikkei closed down 1.2%, while the Shanghai Composite rose 0.4%.

In currency markets, the euro is trading at USD1.1783 from USD1.1737 at Monday's close, while the pound is at USD1.3752 from USD1.3701.

In commodities, Brent crude is trading at USD66.44 from USD67.58 per barrel at the previous close, while gold is at USD3,334.61 an ounce from USD3,287.26 previously.

Tuesday's macroeconomic calendar features Germany's manufacturing PMI at 0955 CEST, alongside unemployment data.

At 1000 CEST, the Eurozone manufacturing PMI will be released, followed by the UK's at 1030 CEST.

At 1100 CEST, Eurostat will publish Eurozone inflation data. At 1200 CEST, Spain will release car registration figures.

In the afternoon, at 1530 CEST, several central bank heads will speak: Bank of England governor Andrew Bailey, Federal Reserve chair Jerome Powell, Bank of Japan governor Kazuo Ueda, and ECB president Christine Lagarde.

At 1545 CEST, the US manufacturing PMI will be released. At 1600 CEST, US construction spending and the ISM manufacturing index will be published, alongside JOLTS job openings data.

The day wraps up at 2230 CEST with the weekly US crude oil inventory report.

Among companies listed on Piazza Affari, SosTravel.com is expected to report quarterly results.

By Maurizio Carta, Alliance News Reporter

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