(Alliance News) - On Wednesday, major European stock markets are expected to be in positive territory on a facea morning from a macroeconomic standpoint, as Japanese stock markets recover and news from the U.S. comes on the first rally of Kamala Harris and her chosen deputy, Minnesota Governor Tim Waltz.

Thus, IG futures give the FTSE Mib in the green by 0.5 percent or up 170.0 points, after closing down 0.6 percent at 31,107.13.

Paris' CAC 40 is expected up 0.5 percent or up 39.2 points, Frankfurt's DAX 40 is given up 0.5 percent or up 82.3 points, and London's FTSE 100 is expected up 0.9 percent or up 70.1 points.

In macroeconomic news, Germany's trade surplus fell to EUR20.4 billion in June from an upwardly revised EUR25.3 billion, lower than forecast by EUR23.5 billion.

This was the lowest trade surplus since last October due to falling exports and rising imports.

German industrial production rose 1.4 percent month-on-month in June, beating the market consensus of a 1.0 percent increase and moving from a revised 3.1 percent decline in the previous month.

This was the fourth year-on-year increase and the strongest pace since February, boosted mainly by robust output from the automotive industry by 7.5 percent and electrical equipment manufacturing by 5.2 percent, while the food industry fell 5.3 percent.

In the UK, the Halifax House Price Index rose 2.3 percent year-on-year in July, up from June's revised 1.9 percent increase, marking the strongest annual growth since January.

Compared with the previous month, house prices rose 0.8 percent after stalling in June, surpassing market forecasts for a 0.3 percent increase.

Back in Milan on Tuesday, the Mid-Cap closed up fractionally at 44,559.76, the Small-Cap advanced 0.6 percent to 27,662.16, and the Italy Growth closed up 0.5 percent to 7,786.84.

On the Mib, good session for Nexi, which advanced 2.5 percent after two sessions closed with bearish candles.

Banca Monte Paschi Siena took the top spot with a rise of 8.7 percent, holding the list's lead from the opening after reporting Tuesday that it closed the first half of the year with a profit of EUR1.16 billion, up 87 percent from EUR619.0 million in the same period a year earlier. In addition, the board of directors, along with the half-year results, also approved the 2024-2028 business plan. The plan forecasts 2024 revenues at EUR3.84 billion and EUR4.06 billion in 2028; operating expenses of EUR1.87 billion in 2024 and EUR2.03 billion in 2028 while gross operating income is expected at EUR1.97 billion in 2024 and EUR2.02 billion in 2028.

Banca Mediolanum - in the red by 0.3 percent - reported July trading results on Tuesday. Total net inflows amounted to EUR674.0 million and EUR6.34 billion since the beginning of the year. Net inflows in assets under management amounted to EUR1 billion, and EUR4.09 billion since the beginning of the year.

Ferrari, on the other hand, gave up 1.5 percent, following eve's decline with 1.3 percent, with new price at EUR382.00.

Sales also on Pirelli, which closed down 1.7 percent, in its fifth bearish session with new price at EUR5.20 per share.

FinecoBank - down 1.3 percent - on Tuesday disclosed that in July net inflows reached EUR755 million, up 55 percent from EUR486 million a year ago, "confirming the investment orientation of a further accelerating clientele that uses the platform to meet all financial needs," the company wrote in the note.

On the cadet list, boost on Alerion, which rose 7.1 percent, breaking a six-session downtrend.

Also good was Ferretti, which pushed up 3.1 percent after three sessions ended among the bearish.

Credito Emiliano - down 0.7 percent - closed down for the fourth session in a row. It reported Monday that it closed the first half with a profit of EUR323.8 million from EUR298.7 million as of June 30, 2023. During the period, net interest income amounted to EUR617.9 million from EUR539.7 million in the first half of 2023, while net interest and other banking income amounted to EUR1.03 billion from EUR968 million in the same period last year.

Also on a negative note was Tinexta, which left 4.1 percent on the parterre, in its fourth consecutive session among the bearish.

On the Small-Cap, Beewize gave up 5.8 percent to EUR0.65, subject to profit taking after four sessions ended with bullish candles.

Aeroporto Guglielmo Marconi Di Bologna - down 0.8 percent - on Monday reported that in July passengers exceeded 1.1 million for the first time, compared to the same month in 2023, making it the month with the highest level of passenger traffic in the airport's entire history.

Sales - among others - also prevailed on Eurogroup, which depreciated 2.3 percent after a 1.6 percent red on the eve of the event following accounts released Friday. Profit for the period in the first half of 2024 reached EUR17.9 million, down 4.4 percent from EUR18.8 million in the first half of 2023.

Landi Renzo -- in the money with 2.5 percent -- reported Monday that it closed the 2023 fiscal year with a loss of EUR35.2 million, from a liability of EUR14.3 million recorded as of Dec. 31, 2022. Consolidated revenues for 2023 amounted to EUR303.3 million, up from EUR306.3 million a year earlier.

Among SMEs, purchases on Allcore, which closed up 8.5 percent, rebounding after four sessions of negative balance.

DBA Group, on the other hand, advanced 7.9 percent, rebounding after four sessions on the bearish side.

Next Geosolutions Europe - down 0.3 percent - on Tuesday announced the acquisition of 100 percent of the share capital of Subonica, a company that offers underwater surveying and inspection services using ROV, Remotely Operated Robotic Vehicles. The total investment amounts to EUR530,000.00.

Valica - flat at EUR4.56 - announced Monday the purchase of 100 percent of Parallelozero Srl for EUR330,000. Parallelozero is a communications agency specializing in strategic consulting for the digital market and in the conception, production and distribution of original editorial and cross-media content, with solid experience in issues related to energy transition, technological innovation, sustainability and climate change crisis.

In Asia, the Nikkei picks up 1.2 percent, the Hang Seng gains 1.5 percent, and the Shanghai Composite rises 0.2 percent.

In New York on European night, the Dow closed in the green by 0.8 percent, the Nasdaq rose 1.0 percent, as did the S&P 500.

Among currencies, the euro changed hands at USD1.0912 versus USD1.0926 in Tuesday's European stock close while the pound was worth USD1.2706 from USD1.2693 Tuesday night.

Among commodities, Brent crude is trading at USD76.55 per barrel from USD76.80 per barrel at Tuesday's close. Gold, on the other hand, trades at USD2,433.30 an ounce from USD2,385.13 an ounce Tuesday evening.

Wednesday's macroeconomic calendar includes at 1300 CEST from the US the mortgage report, while at 1630 CEST the crude oil stocks figure, EIA report and Cushing's inventory will be released instead.

At 2130 CEST, however, a speech by McCaul of the ECB is scheduled.

On the corporate calendar, results from AbitareIn, doValue, illimity Bank, Interpump Group and Piovan are expected.

By Claudia Cavaliere, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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