(Alliance News) - Piazza Affari closed lower in Tuesday's session, sunk by STMicroelectronics and financial stocks, on another day poor in macroeconomic cues.

Taking center stage were words from Federal Reserve Chairman Jerome Powell, who reiterated that the U.S. central bank does not see fit to cut interest rates until it gains more confidence that inflation is moving sustainably toward 2 percent.

Powell added that reducing restrictive policy too late or too little could weaken economic activity and employment unduly, while doing it too early or too much could stall or even reverse the progress being made on inflation.

The FTSE Mib closed Tuesday down 0.5 percent to 33,864.47, the Mid-Cap lost 0.4 percent to 47,772.76, the Small-Cap fell 0.8 percent to 29,029.74, and Italy Growth gave up 0.1 percent to 8,083.21.

In Europe, London's FTSE 100 closed down 0.7 percent, Paris' CAC 40 fell 1.8 percent and Frankfurt's DAX 40 lost 1.3 percent.

On the Mib, strength on Prysmian, which moved ahead to EUR60.00, up 4.0%. The company announced Monday that between July 1 and July 5, it bought back 199,000 of its own ordinary shares for a total value of EUR11.4 million. Thus, the company holds 4.5 million treasury shares or 1.6 percent of its share capital.

Leonardo also did well, up 1.0% to EUR22.45 per share, rearing its head again after two bearish sessions.

Boost also on Iveco, which scores a plus 1.2%, following up the 1.4% rise in the previous session.

UniCredit -- in the red by 1.1 percent -- reported regarding its share buyback program that -- from July 1 to July 5 -- it purchased more than 4.5 million of its own shares. The weighted average price was EUR36.35 per share, amounting to about EUR166 million.

Assicurazioni Generali--down 1.8 percent--reported on Monday that from July 1 to 5 it had purchased 247,938 of its own shares at a weighted average price of EUR23.85 for a total value of EUR5.9 million. As a result of these purchases, the company holds 25.2 million of its own shares, or 1.6 percent of its share capital.

Worst of all, however, did STMicroelectronics, which finished the session down 2.3 percent, with 1.8 million changed hands.

On the Mid-Cap, Juventus FC dropped 1.1 percent after eve's loss of 4.4 percent. The Agnelli Elkann's club is back in the player market on the delicate ridge of capital gains, which has already cost criminal investigations and sports penalty points in the past. Reporting a "suspicious" transaction is the "Fatto Quotidiano," which recounts the sale of U.S. forward Moise Kean to Fiorentina for EUR13 million -- plus EUR5 million in bonuses -- last week. The striker was going to expire his contract at the end of June and from next January 1 would be on a zero-parameter basis.

So, the newspaper objects, it is not clear why American Rocco Comisso's club shelled out for a player who, by the way, did not score a single goal last season. Juve is relieved, for this sort of six-month loan, of EUR12.9 million it would have had to spend between amortization and last year's salary.

Then, on Tuesday, the transaction became official. The company said the transaction generates a positive economic impact on the current fiscal year of EUR2.3 million, net of ancillary charges.

Carel Industries, on the other hand, rose 3.5 percent with new price at EUR18.36 per share, heading for its fifth consecutive bullish session.

Anima Holding - down 0.3 percent - reported Monday that between July 1 and July 5 it bought 535,564 shares at an average price of EUR4.7822 for a total value of EUR2.6 million.

Webuild - down 1.1 percent - on Monday evening informed that it had purchased - between July 1 and 5 - 20,000 of its own ordinary shares. The average price per unit was EUR2.10, for a total value of EUR42,000.

It did worse than Fincantieri, down 4.5 percent, after a 4.9 percent gain on the eve. On the stock it is mentioned that Eleva Capital cut its short on the stock to 0.43% from 0.56% previously.

On the Small-Cap, good buys on Seri Industrial, which rose 1.2%, with new price at EUR4.09 per share.

doValue, on the other hand, gained 8 percent to EUR2.03 per share, following Monday's 1.8 percent red. The company, on the MarketScreenr platform, shows a target price on the average of two analysts of EUR5.35, thus being underpriced by more than 168%.

Sabaf -- up 0.9 percent -- on Monday reported that shareholder Montinvest Srl, a company controlled by Fulvio Montipò, founder and chairman of Interpump Group Spa, has increased its stake in Sabaf through the purchase of 75,000 shares, or 0.59 percent of the share capital. Montinvest thus currently holds a stake in Sabaf equal to 9.73 percent of the share capital and 6.62 percent of the voting rights.

TXT e-solutions -- in the red by 1.2 percent -- on Monday announced a further investment in ProSim Training Solutions through the exercise of an option to purchase 20 percent of the company's capital, against which TXT holds a 60 percent majority stake.

Among SMBs, strength on Aton Green Storage, which rises 2.7 percent, rebounding after five sessions closed at a loss.

H-Farm, on the other hand, ranks among the list's best, gaining 6.2% and breaking a four-session downtrend.

Espe - down 5.4 percent - reported Tuesday that an agreement has been concluded with a major Independent Power Producer - IPP - client from Italy for the construction of a ground-mounted photovoltaic plant in the province of Pavia totaling 7.1 MWp, or about EUR4.2 million. The installation is expected to be completed by the first half of 2025.

Circle - up 1.8 percent - announced on Tuesday that it successfully concluded the subscription of a further tranche, through an accelerated bookbuilding procedure, of the share capital increase, excluding pre-emptive rights.

Talea Group -- up 0.3 percent -- on Tuesday announced the private label launch of its Amicafarmacia brand. Amicafarmacia's new line consists of 24 specific supplements for different types of needs, with particular focus on beauty, purification, intestinal balance, immune defenses, energy, and wellness of the eyes, heart, blood pressure, urinary tract, and prostate.

In New York, the Dow is down 0.2 percent to 39,261.33, the Nasdaq is up 0.3 percent to 18,458.26, and the S&P 500 is up 0.2 percent to 5,583.64.

Among currencies, the euro changes hands at USD1.0814 from USD1.0834 on Monday in closing European equities while the pound is worth USD1.2794 from USD1.2809 on Monday evening.

Among commodities, Brent crude trades at USD85.31 per barrel from USD86.14 per barrel at Monday's close. Gold, on the other hand, trades at USD2,360.78 an ounce from USD2,380.48 on Monday evening.

Wednesday's macroeconomic calendar opens with Chinese inflation, due out at 0330 CEST, before moving to Europe, with the French current account, due out at 0845 CEST, and Italian industrial production, expected at 1000 CEST.

At 1110 CEST, a one-year BOT auction will be held while, in the afternoon, U.S. mortgage data will arrive at 1300 CEST.

At the same time, OPEC's monthly report will arrive while at 1600 CEST it will be the turn of wholesale sales, followed half an hour later by crude oil stocks.

Among the companies in the Piazza Affari, no special events are expected.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

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