(Alliance News) - On Tuesday, major European stock markets confirmed expectations and opened in positive territory -- with the exception of London's FTSE100 -- on a morning that was eventful from a macroeconomic standpoint and in which the pressure of what will be the decisions of some of the major central banks in the coming days is beginning to be felt.

Thus, the FTSE Mib opens in the green by 0.5 percent at 33,796.51, the Mid-Cap is in the green by 0.3 percent at 47,383.55, the Small-Cap rises 0.1 percent to 28,987.49, while Italy Growth is in the fractional green at 7,991.71.

In Europe, Paris' CAC 40 is in the green by 0.3 percent, London's FTSE100 is down 0.5 percent, while Frankfurt's DAX 40 is up 0.2 percent.

In macroeconomic news, foreign direct investment in China plummeted 29% year-on-year to CNY498.91 billion in the January-June period, a record decline for the first six months of the year.

About 13 percent of the total, or CNY63.75 billion, went to high-tech manufacturing industries, up 2.4 percentage points from the same period last year.

In Spain, the annual inflation rate fell to 2.8 percent in July, the lowest in five months, from 3.4 percent in June and below forecasts of 3 percent, according to preliminary estimates released Tuesday.

According to preliminary estimates, Spain's economy grew 0.8 percent quarter-on-quarter in the second quarter, matching the previous quarter's growth rate and exceeding market forecasts of 0.5 percent.

On the Mib, Poste Italiane did better than all after the publication of its half-yearly report, marking a 2.6 percent rise to EUR12.47 per share. The company announced Tuesday that it made a profit of EUR1.03 billion in the first half of the year, up from EUR1.14 billion in the same period a year earlier.

Group revenues amounted to EUR6.16 billion, up from EUR6.01 billion in the first half of 2023.

Adjusted operating income is EUR1.49 billion, up from EUR1.57 billion a year earlier.

Also doing well are Stellantis, in the green by 1.5 percent, and Nexi, which rounds out the podium with a 1.4 percent increase.

Among the bearish performers is DiaSorin, down 0.5 percent after announcing Monday that it closed the first half with adjusted net income of EUR120 million from EUR113 million as of June 30, 2023.

Revenues in the period stood at EUR589 million from EUR576 million in the first half of 2023. Adjusted Ebitda as of June 30 amounted to EUR198 million from EUR190 million a year earlier, while adjusted Ebit was EUR153 million from EUR144 million in 2023.

With an eye to the future, the company said it has improved guidance, with post-Covid revenues growing between 6 percent and 7 percent and adjusted Ebitda margin of about 33 percent.

At the bottom sits Campari, in the red by 1.7%.

On the mid-cap, Lottomatica Group -- down 0.1 percent -- reported Tuesday its first-half results, which closed with a net profit of EUR26.5 million from EUR40.0 million in the same period last year.

"In light of the strong organic growth in the second quarter, the acceleration in the realization of cost synergies and planned acquisitions, the group has updated its guidance for the current fiscal year," the company specified in the note.

Specifically, it now expects revenues of EUR2.03-2.08 billion from EUR2.02-2.07 billion, adjusted Ebitda of EUR700-730 million, up from the range of EUR680-700 million initially calculated. Guidance on recurring and concession investments remains unchanged while growth initiatives and deferred payments have been confirmed except for bolt-ons up EUR35 million in 2024 and about EUR20 million adjusted Ebitda run rate expected in 2025.

Cementir Holding rises 3.6 percent after it reported Monday that it closed the first half with group net income of EUR97.0 million, up 7.4 percent from EUR90.3 million as of June 30, 2023.

Revenues for the period stood at EUR811.8 million, down 3.4 percent from EUR840.7 million in the first half of 2023.

Zignago Vetro gives up 0.9 percent after closing, Monday, up 8.0 percent. On Friday, the company disclosed that it closed the first half of the year with net income down to EUR26.3 million from EUR74.6 million as of June 30, 2023, marking a 65 percent drop.

For the six-month period, revenues stood at EUR329.0 million from EUR384.8 million, down 15 percent from the first half of 2023.

Iren gives up 0.5%. The company reported Friday that the Fitch agency confirmed Iren's long-term credit rating at "BBB," and the same rating is also given to senior unsecured debt.

On Monday, meanwhile, the utility reported that net income for the first half of the year rose 2 percent year-on-year to EUR145.2 million from EUR143.0 million in the same period a year earlier, aided by an increase in the tax rate.

Consolidated revenues as of June 30 stood at EUR2.70 billion, down 16 percent from EUR3.21 billion in the first half of 2023. The main drivers of the decline in revenues relate to energy revenues, impacted by more than EUR320 million by lower commodity prices being normalized after the energy crisis in recent years, and about EUR48 million by lower consumption and climate effects.

Webuild rises 0.7 percent after reporting Monday that its U.S. subsidiary, Lane, was awarded a contract worth about USD208 million for modernization work at Naval Air Station Oceana, a U.S. Navy air base in Virginia.

On the Small-Cap, Risanamento gives up 17 percent after it reported on Monday that it closed the first half of the year with a loss of EUR25.0 million from a profit of EUR18.7 million as of June 30, 2023.

Value of production stands at EUR737,000 from EUR56.6 million in 2023.

Acinque rises 0.5 percent after it reported Monday that it ended the first half with consolidated sales revenues of EUR288.9 million, down from EUR347.7 million as of June 30, 2023.

The company reported a profit of EUR13.9 million for the period, up from EUR13.0 million in the first half of last year.

Among SMEs, Monnalisa is not yet affected by trading. The company reported that it closed the first half of the year with revenues at EUR18.9 million, down 13 percent from EUR21.9 million in the same period last year.

Relatech rises 0.4 percent. The company on Tuesday said it closed the first half of the year with revenues of EUR47 million, down from EUR48 million as of June 30, 2023.

On its second day at Piazza Affari after a EUR17.7 million IPO, Misitano & Stracuzzi gives up 1.0% at the start.

In Asia, the Nikkei closed in the green 0.2 percent to 38,525.95, the Hang Seng gave up 1.5 percent to 16,983.83and the Shanghai Composite closed down 0.4 percent to 2,879.30.

In New York, on European night, the Dow dropped 0.1 percent, the Nasdaq closed just above par as did the S&P 500.

Among currencies, the euro changed hands at USD1.0825 versus USD1.0823 in Monday's European stock close while the pound was worth USD1.2857 from USD1.2854 on Monday night.

Among commodities, Brent crude is trading at USD78.81 per barrel from USD80.84 per barrel at Monday's close. Gold, meanwhile, trades at USD2,435.20 an ounce from USD2,389.71 an ounce on Monday evening.

Tuesday's macroeconomic calendar features Italian GDP at 1000 CEST while GDP and inflation will come from Germany.

An hour later, the calendar offers Eurozone GDP and Eurozone consumer and business confidence.

In the afternoon, from the U.S., focus on house prices, due out at 1500 CEST, and consumer confidence, coming an hour later, along with new jobs JOLTs. Weekly oil stocks will be released at 2230 CEST.

Among Piazza Affari companies, results from Amplifon, A2A, Campari, Fincantieri, Fineco, Intesa, Inwit, Leonardo, and Recordati, among others, will arrive.

By Claudia Cavaliere, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.