(Alliance News) - Piazza Affari on Tuesday extended gains--following the rise in European and U.S. indexes--and placed the points auction in the 29,300 area, after the inflation rate in the United States slowed below forecasts. This thus reinforced the narrative that the Fed has ended its rate hike campaign.

Indeed, the annual inflation rate in the U.S. returned to 3.2 percent in October from 3.7 percent in both September and August, and below market forecasts of 3.3 percent.

Thus, the FTSE Mib closed up 0.3% to 29,344.43, the Mid-Cap rose 2.3% to 41,935.46, the Small-Cap picked up 0.8% to 25,662.07, and Italy Growth finished in the green 0.3% to 7,623.04.

In Europe, Paris' CAC 40 rallied 1.4 percent, Frankfurt's DAX 40 advanced 1.8 percent, and London's FTSE 100 closed up 0.2 percent.

On the main list in Piazza Affari, Banca Monte dei Paschi di Siena closed higher again, picking up 5.1 percent. The company announced Monday evening that Marco Giorgino has resigned with immediate effect from the board of directors of the Siena-based institution. Giorgino is leaving because he was appointed as a director of Mediobanca--up 1.1 percent--a role incompatible with that of a director of MPS.

In addition, Fitch Ratings upgraded the bank's ratings by two notches, raising the long-term issuer default rating to 'BB' from 'B+' and the viability rating to 'bb' from 'b+'. The upgrade, according to Fitch, reflects the success of the restructuring process, which has enabled the bank to structurally rebuild strong capital buffers and strengthen operating profitability.

DiaSorin advanced 6.9 percent, on its second bullish candle and priced at EUR91.00 finishing as the best in the segment.

ERG, on the other hand, rallied 6.7 percent, after 1.6 percent green on the eve. The company reported Tuesday that it closed the first nine months of the year with a group profit of EUR112 million, down from EUR459 million in the same period of 2022, which was inclusive of the net gain recognized on the sale of the Terni hydroelectric core on January 3, 2022, for EUR324 million. In the quarter, however, adjusted net income from group continuing operations was EUR35 million, in line with the third quarter of 2022.

Banca Generali soared 2.4 percent after announcing Thursday that it closed the first nine months of the year with a consolidated net profit of EUR255.1 million, up 64 percent from EUR155.4 million in the corresponding period last year, which, the company said in a note, "discounted the impact of EUR35.3 million in extraordinary tax charges based on the framework agreement reached with the Internal Revenue Service on September 19, 2022 for the transfer-dated 2008-of BG Sicav's management proxy to the newly established BG FML product factory."

At the back of the pack was Leonardo, which posted minus 2.9 percent on the heels of eve's 0.3 percent red. The stock had previously come from three sessions with a bullish candle.

On the Mid-Cap, EuroGroup Laminations did best of all, closing on top with more than 10 percent, after approving on Monday its consolidated financial results as of September 30, reporting a profit of EUR30.4 million for the first nine months from EUR32.3 million for the same period in 2022.Revenues amounted to EUR644.2 million from EUR651.1 million.

Significant buying also on LU-VE, rebounding with 7.5% after a bearish streak with final price regaining EUR20.15.

Banca Popolare di Sondrio also did well, up 3.0%. On Monday evening, DBRS Morningstar agency reported that upon completion of its annual rating review process, it confirmed all of the bank's ratings, including the long-term issuer rating at the investment grade level "BBB(low)," while upgrading the trend from "stable" to "positive."

Seco, on a negative note, closed down 2.7 percent and marking the third session in a row in negative balance.

The board of directors of Antares Vision -- down 1.9 percent -- on Monday night approved the group's consolidated revenues for the first nine months. The figure showed a 13 percent year-on-year increase in orders to EUR160 million.

On the Small-Cap, Tessellis closed in appreciation of 7.1%, after a 0.2% gain Monday evening.

Purchases were also made on Restart, which closed up 6.5 percent, after Monday evening's 5.7 percent decline.

Centrale Del Latte D'Italia -- in the green by 5.5 percent -- reported Tuesday that it closed the first nine months of the year with profit up 184 percent to EUR6.3 million from EUR2.2 million in the same period of 2022. Revenues amounted to EUR250.8 million up 12 percent from EUR223.3 million as of September 30, 2022.

Newlat Food -- down 0.5 percent -- reported Tuesday that it closed the first nine months with revenues up to EUR600.7 million from EUR521.2 million in the same period a year earlier. Operating income flew to EUR31.8 million from EUR11.7 million while net income jumped to EUR18.2 million from EUR3.5 million.

On the negative note, among others, Landi Renzo gave up 3.7 percent after announcing Monday night that it had made a group loss of EUR27.7 million in the first nine months of the year, worsening from a negative EUR10.1 million recorded in the same period last year.

Fidia, on the other hand, left 5.0 percent on the parterre after two sessions ended with bullish candles.

Among SMEs, ESI closed up 2.9% after announcing Tuesday that it had received approval to start geological investigation and executive design activities preliminary to the construction of a photovoltaic plant commissioned by the Renewables division of a leading international multinational oil & gas company with revenues of more than USD350 billion. The approval was communicated by the client through a specific purchase order limited to engineering activities only, whose economic value is EUR280,000 and is part of a wider commercial offer with a total value of EUR5.6 million for the construction, in EPC mode, of a new photovoltaic plant with a total capacity of 10 MWp in Piedmont.

Italia Independent, on the other hand, rallied 6.7 percent, in its third bullish session.

Confinvest, on the other hand, closed up 4.8 percent, with price at EUR1.54 per share rearing its head again after a long bearish streak.

In New York, with stock exchanges trading at full strength, the Dow is up 1.6 percent, the Nasdaq is advancing 2.2 percent, and the S&P 500 is up 1.9 percent.

Among currencies, the euro changes hands at USD1.0858 against USD1.0689 recorded in Monday's European stock close, while the pound is worth USD1.2482 from USD1.2243 last night.

Among commodities, Brent crude is worth USD83.29 per barrel from USD81.53 per barrel at Monday's close. Gold, meanwhile, trades at USD1,964.19 an ounce from USD1,942.45 an ounce last night.

Wednesday's macroeconomic calendar, at 0050 CET Japan's GDP, at 0300 CET China's industrial production, and at 0530 CET Japan's industrial production. At 0800 CET, the UK consumer price index and retail price index. At the same time, from Germany, the wholesale price figure.

At 1000 CET, the CPI from Italy, at 1100 CET the Eurozone industrial production and trade balance.

At 1300 CET, from the US, the mortgage report, at 1430 CET retail sales and the PPI. At 1630 CET, weekly oil stocks, Cushing's inventory and the EIA report.

Among companies, results from Caleffi, ICF Group, Innovatec, Spindox, Triboo and 4AIM SICAF are expected.

By Maurizio Carta, Alliance News reporter

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