(Alliance News) - Markets-according to the futures market-signaled a bearish path for the second session of the week, with the spotlight on the situation in the Middle East.

Thanks to the help of the United States and its allies, Israel managed to counter retaliation by Iran, which launched nearly 300 drones and missiles against the Jewish state to avenge the raid attributed to Tel Aviv against Tehran's consulate in Damascus.

Among economic data, data from the U.S. Census Bureau showed that retail sales rose more than expected in March. Flash estimates of U.S. retail and food sales rose 0.7 percent in March from February and 4.0 percent year-on-year.

The FTSE Mib-after closing Monday up 0.6 percent to 33,954.28-is marking a loss of 522.00 points.

In Europe, London's FTSE 100 is giving up 95.60 points, Paris's CAC 40 is down 115.90 points, and Frankfurt's DAX 40 is giving up 230.10 points.

Among smaller listings last night, the Mid-Cap gained 0.2 percent to 46,941.30, the Small-Cap fell 0.1 percent to 28,051.69, and Italy Growth lost 0.1 percent to 8,087.93.

On the Mib last night, good session for Leonardo, which closed up 2.3% for its fourth bullish session in a row, with tensions in the Middle East pushing up the defense giant's price.

Prysmian -- up 4.5 percent -- announced Monday that it had entered into a merger agreement under which it will acquire Encore Wire for USD290.00 per share. The USD290.00 price per share represents a premium of about 20 percent over the 30-day weighted average as of Friday's date and about 29 percent over the 90-day weighted average as of the same reporting date. The transaction values Encore Wire at about EUR3.9 billion.

UniCredit - up 0.9 percent - reported that the board confirmed Pietro Carlo Padoan as chairman and Andrea Orcel as chief executive officer, with all the necessary powers and proxies to do so. The board also appointed Elena Carletti as vice chairman, with vicarious functions.

Deutsche Bank cut Enel's target price to EUR6.30 from EUR6.70. The stock lost 0.4 percent.

Tenaris, on the other hand, gave up 1.5 percent after a 0.4 percent rise in the previous session, following the downward trend in the barrel price.

On the Mid-Cap, Fincantieri did well, rising 0.9% to EUR0.77, following Friday night's bullish candle.

Double target price cut for Salvatore Ferragamo by JP Morgan and Barclays. The stock closed trading in the red by 1.9 percent.

Arnoldo Mondadori Editore closed down 0.9 percent after announcing Monday that an agreement was signed for the acquisition by subsidiary Rizzoli International Pubblications of 100 percent of Chelsea Green Publishing in Vermont in the U.S. and, in the U.K., through its subsidiary Chelsea Green Publishing UK.

As stated in a note released by the company, the publishing house's editorial line focuses on sustainability issues, declined in the areas of green, health and wellness and the enhancement of cultural diversity.

"The strengthening of the Mondadori group's presence in the U.S. and UK through the acquisition of Chelsea Green Publishing and the launch of Rizzoli's new U.K. branch represents a further step in our path of growth outside the domestic trade market as well," commented Antonio Porro, managing director of the Mondadori group.

On the Small-Cap, sales on Alkemy, which lost 1.7 percent to EUR11.55 per share, in its third bearish session in a row.

algoWatt contracted 6.1%, on the heels of a 3.9% decline in the previous session.

Bastogi -- up 3.6 percent -- reported Friday that it ended 2023 with a net profit of EUR2.9 million, which compares with the previous year's figure of EUR32.4 million. Italy's oldest company still in business posted an EBITDA of EUR16.5 million from EUR54.5 million a year earlier.

Among SMEs, Alfio Bardolla closed up 10 percent to EUR2.37 per share after falling 1.4 percent Friday night.

Energy, on the other hand, rose 3.2 percent, bringing its share price to EUR1.29, reversing course after four sessions with a bearish candle.

Vimi Fasteners--down 1.5 percent to EUR1.35--reported Friday that it ended the first quarter with revenues of EUR14.6 million compared with revenues of EUR14.4 million in the same period last year. The value of the group's order backlog as of March 31, 2024, based on the current fiscal year and net of revenue value, was EUR31.8 million, down slightly in line with the market trend from an order backlog of EUR32.8 million recorded as of March 31, 2023.

In New York last night, the Dow closed down 0.7 percent, the Nasdaq fell 1.8 percent, and the S&P 500 left 1.2 percent on the parterre.

Among currencies, the euro changed hands at USD1.0619 from USD1.0627 on Monday in European equities closing while the pound was worth USD1.2437 from USD1.2450 on Monday evening.

Among commodities, Brent crude is worth USD90.56 per barrel from USD89.29 on Monday evening and gold trades at USD2,386.97 from USD2,338.38 last night.

Tuesday's macroeconomic calendar has UK earnings and unemployment data coming in at 0800 CEST, along with Germany's wholesale prices, while at 1000 CEST comes Italian inflation. An hour later, eyes on Italy's trade balance and the Zew index on economic sentiment in Germany.

Also at 1100 CEST, eyes on the Eurozone trade balance.

From the U.S., the catalysts of the day will be data on building permits, due at 1430 CEST, and data on industrial production, expected at 1515 CEST on a day packed with incoming comments from several Federal Reserve members. At 2230 CEST, it closes with weekly oil stocks.

Among the companies in the Piazza Affari, the results of Saccheria F.lli Franceschetti are expected.

By Maurizio Carta, Alliance News senior reporter

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