(Alliance News) - Major European indexes open slightly higher on Tuesday, recovering Monday's losses as traders focus on the monetary policy outlook and tomorrow's Fed decision.

Thus, the Mib opens fractionally in the green at 34,561.80, the Mid-Cap advances 0.1 percent to 48,160.41, the Small-Cap is tied at 29,281.26 while Italy Growth is in the red 0.2 percent to 8,181.40.

In Europe, London's FTSE 100 is in the green by 0.2 percent, Paris' CAC 40 advances 0.1 percent as does Frankfurt's DAX 40.

On the Mib, Poste Italiane rises 0.7 percent. The company announced Monday that it purchased 235,297 of its own shares during the day at an average unit price of EUR12.722558, for a total value of EUR3.0 million.

Poste thus concluded a first tranche of the share buyback program, implemented under the authorization resolved by the shareholders' meeting on May 31, 2024.

Topping the list are Amplifon and Iveco Group, up 1.8 percent and 1.3 percent, respectively.

At the tail end, however, are Banco BPM, Banca Monte dei Paschi di Siena and Unipol, in the red by 2.3 percent and 1.1 percent.

On the cadet segment, The Italian Sea Group takes the top spot with a 3.3 percent rise. The company announced that its board of directors has resolved to co-opt Simona Del Re, appointing her as company president until the next shareholders' meeting.

SAES Getters is flat at EUR27.70. SGG Holding announced that it has raised the offer on SAES Getters shares as part of the takeover bid launched last month.

The new takeover bid consideration is EUR28.00, up from EUR26.30 per share offered earlier.

Iren gives up 0.6 percent. The company announced Monday that it has signed with Council of Europe Development Bank a EUR80 million green-format Public Finance Facility loan, usable in several tranches with a term of up to 16 years, which will be used to finance part of Iren's water infrastructure investment plan in the provinces of Genoa and La Spezia.

On the Small-Cap, Greenthesis - flat at EUR2.24 - announced Monday that the temporary grouping of companies, of which it is the group leader with a stake of about 40 percent, has signed a contract with Invitalia Spa for a total project of about EUR269 million.

The temporary business grouping also includes Eni Rewind Spa, Sirai Srl, Vianini Lavori Spa, Semataf Srl and Consorzio Stabile Grandi Lavori Scrl.

doValue, in the green by 0.7 percent, reported Tuesday that the Madrid High Court of Justice ruled in its favor, rejecting Altamira Asset Management Holding SL's attempt to annul an earlier decision requiring it to make a payment to doValue related to a tax claim.

As a result of this decision, the doValue group will record financial income of EUR22.7 million, the company's note says, which will have a positive impact on first-half net income of about EUR0.28 per share

Piquadro -- up 2.2 percent -- on Monday approved its draft financial statements for the fiscal year running from April 1, 2023 to March 31, 2024, and its consolidated financial statements as of March 31, 2024, reporting a 62 percent increase in profit to EUR10.5 million from EUR6.5 million a year earlier. Revenues amounted to EUR185.5 million up from EUR177.6 million a year earlier.

Among SMEs, SolidWorld Group gives up 8.9 percent. The company announced Monday evening that its board of directors has approved a capital increase by issuing a maximum of 811,250 new ordinary shares at EUR2.8 each and a maximum of EUR2.3 million.

Planetel gives up 0.8 percent. The company announced Monday that it has started the EUR1.8 million buyback program.

The plan will last up to 18 months, and MIT SIM Spa has been appointed to carry it out.

Iervolino & Lady Bacardi Entertainment still does not trade after giving up 0.6 percent, following the group's final results for the first quarter to March 31, which closed with a net profit of EUR400,000 from EUR2.5 million in the same period a year earlier, as a result of lower Ebit but also due to the triple-digit increase in financial expenses associated with higher interest rates. Revenues amounted to EUR29.6 million from EUR32.5 million in the same period a year earlier.

In Asia, the Nikkei closed in the green 0.2 percent to 39,109.17, the Hang Seng gave up 1.1 percent to 18,168.00 and the Shanghai Composite finished down 0.8 percent to 3,028.05.

In New York on European night, the Dow closed up 0.2 percent to 38,868.04, the Nasdaq gained 0.4 percent to 17,192.53, and the S&P 500 was in the green 0.3 percent to 5,360.79.

Among currencies, the euro changed hands at USD1.0767 from USD1.0746 on Monday in closing European equities while the pound is worth USD1.2720 from USD1.2727 on Monday evening.

Among commodities, Brent crude trades at USD81.52 per barrel from USD81.12 per barrel at Monday's close. Gold, on the other hand, trades at USD2,304.15 an ounce from USD2,304.60 on Monday evening.

On Tuesday's macroeconomic calendar, the monthly OPEC report will be released at 1300 CEST while, at 1900 CEST, an auction of 10-year US Treasury notes is scheduled.

Finally, at 2230 CEST, coming up is the weekly oil stocks data.

Among the companies in the Piazza Affari, the accounts of Caribbean Company and Homizy are expected.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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