(Alliance News) - On Tuesday, with a quiet day in terms of macroeconomic data, major European stock markets are expected to be in the red in the wake of the bearish close in the US, as caution dominates sentiment ahead of key US inflation data, the first presidential debate between Joe Biden and Donald Trump this week, and the French elections.

Thus, according to IG futures, the FTSE Mib is expected to be in the red by 0.1 percent or down 32.5 points after closing up 1.6 percent at 33,834.91.

In Europe, London's FTSE 100 is in the fractional red, down 4.3 points, Frankfurt's DAX 40 is expected down 0.7 percent or 133.1 points while Paris' CAC 40 marks a red 0.5 percent or 39.9 points.

"Yesterday's 6.7 percent plunge in Nvidia shares did not help the mood of the Nasdaq 100," commented Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank. "The index fell more than 1 percent, while losses in the S&P 500 remained limited to 0.3 percent, financial stocks gained 0.6 percent, and the energy sector rose 1.7 percent thanks to the rebound in crude oil, which retested the resistance of the USD82 level, the main 61.8 percent level of the last selloff. If this level is breached, oil bulls will have more conviction about the sustainability of the rally and gains could extend toward the USD85 level."

Among Italy's minor listings Monday evening, the Mid-Cap advanced 1.4 percent to 47,839.95, the Small-Cap closed up 1.0 percent to 29,134.30 while Italy Growth rose 0.4 percent to 8,135.46.

On the Mib, buoyancy on the banking sector, with BPER Banca emerging as the best performer, up 5.0 percent after a 1.2 percent red finish in the previous session.

Strength also on Banca Monte dei Paschi di Siena, which closed ahead 4.0%, following Friday night's negative balance. Earlier, the stock was coming off a four-session bullish mini-trend.

UniCredit -- up 3.9% -- announced that it has finalized the implementation arrangements for the execution of the third and final tranche of the 2023 buyback plan in the amount of EUR1.5 billion and number of shares of 155.1 million. The third tranche is the last part of the remaining amount of the total payout from the 2023 fiscal year of EUR3.1 billion.

Also in the highs were Banca Popolare di Sondrio and Banco BPM, with 4.0 percent and 2.2 percent, respectively.

Among the bearish, Hera gave up 0.6%, veering after two sessions among the bullish.

On the cadet segment, Fincantieri did best of all by rising 23% before going into volatility auction. The company together with Viking announced Friday that it had signed contracts to build two cruise ships. The ships will be based on the characteristics of previous ships already built by Fincantieri for this shipowner and will be delivered between 2028 and 2029. The value of the deal has been described as "large."

Strength also on Banca Ifis, which is in the green by 5.2 percent, after a 1.3 percent red in the previous session. The stock had previously come from four bullish sessions.

For Industrie De Nora, on the other hand, the gain was 3.1 percent, after a 2.9 percent decline on Friday night.

Maire Tecnimont -- in the green by 1.7 percent -- announced Thursday that NextChem, through its subsidiary NextChem Tech, will act as Technology Design Integrator to develop the Process Design Package for the hydrogen and carbon dioxide recovery unit of the Hail and Ghasha development project.

The Hail and Ghasha project, whose project was awarded to Tecnimont - Maire's Integrated E&C Solutions - by ADNOC in October 2023 for a total value of USD8.7 billion, is one of the most strategic initiatives globally for the decarbonization of the energy processing industry, the company explained in a note.

d'Amico International Shipping -- in the green by 4.1 percent -- on Monday reported that it has signed a new time-charter contract, scheduled to start between the end of the second quarter of 2024 and the beginning of the third quarter of 2024, for one of its MR2 'Eco' vessels, with a reliable counterparty and at a very profitable daily freight rate, for a duration of three years.

Among the bearish, Acea posted minus 2.1 percent, following up on the 0.2 percent decline in the previous session.

Among smallcaps, Bialetti Industrie advanced 5.2% to EUR0.2230 per share, rearing its head after two sessions among the bearish.

Newlat Food, on the other hand, advanced more than 12 percent to EUR12.44 per share, rebounding after two sessions closed with bearish candles.

On the other side of the list, B&C Speakers gave up 5.1 percent, in its third session among the bearish.

Unidata, on the other hand, left 4.2% at EUR3.65 per share on the parterre.

Among SMEs, Comal rose 2.3 percent after it reported Friday that it had won a EUR1.2 million order from an Italian operator to supply the Sun Hunter tracker. The tracker is designed and manufactured by Comal at its Montalto di Castro factory and is a state-of-the-art product, already with an extensive track record of completed installations and enabling a significant increase in the levels of energy produced by the plant and a sharp reduction in wind damage.

RES Sustainable Ethical Recovery - flat at EUR5.95 - announced the startup of the plastics washing and granulation plant at the Pettoranello del Molise industrial site, which will enable the regeneration of rigid plastic packaging.

ESI - up 1.9 percent - announced on Friday that it had signed a contract for the construction of a photovoltaic plant, to be built in the province of Alessandria, commissioned by a leading international operator in the energy sector. The order consists of the design, construction and installation of a photovoltaic plant with a capacity of 5 MWP in the Piedmont region. The amount of the order, which is approximately EUR4.2 million, will be for fiscal years 2024 and 2025.

Ecomembrane closed down 2.6 percent. The company reported that SBS Solar, a 55 percent subsidiary of Ecomembrane and part of the consolidation scope, has signed a three-year framework contract with a leading energy operator for the design and supply of Solaxis single-axis solar trackers on nine photovoltaic plants, to be built in the future, with a total installed capacity of more than 100MW.

In Asia, the Nikkei closed in the green 1.0 percent to 39,173.15, the Hang Seng gained 0.3 percent to 18,072.83, and the Shanghai Composite gave up 0.7 percent to 2,943.05.

In New York, the Dow closed in the green by 0.7 percent to 39,411.21, the Nasdaq finished in the red by 1.1 percent to 17,496.82 while the S&P 500 closed down 0.3 percent to 5,447.87.

Among currencies, the euro changed hands at USD1.07378 from USD1.0728 on Monday in European equities closing while the pound was worth USD1.2690 from USD1.2690 on Monday evening.

Among commodities, Brent crude is trading at USD86.03 per barrel from USD85.76 per barrel at Monday's close. Gold, on the other hand, trades at USD2,324.66 an ounce from USD2,329.22 on Monday evening.

Tuesday's macroeconomic calendar features Spain's Gross Domestic Product at 0900 CEST.

At 1200 CEST the Eurogroup meeting is scheduled and at 1430 CEST inflation data will be released in Canada.

In the US, the consumer confidence report is due out at 1600 CEST.

In the U.S., no special events are expected.

By Chiara Bruschi, Alliance News reporter

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