(Alliance News) - Piazza Affari continued on a bullish course Tuesday mid-session, pending this afternoon's U.S. inflation data and after the release of Eurozone GDP, which rose 0.1 percent in the third quarter on an annualized basis and slowed from 0.5 percent in the second quarter. On a quarterly basis, however, GDP fell 0.1 percent after rising 0.2 percent in the previous quarter.

In Germany, consumer morale also improved to an eight-month high: according to the latest Zew surveys, the index of economic confidence rose to 9.8 points in November. This is 10.9 points higher than the negative 1.1 points in October.

Thus, the FTSE Mib is up 0.3 percent to 29,003.02, the Mid-Cap is up 0.4 percent to 41,158.88, the Small-Cap is giving up 0.2 percent to 25,409.21, and Italy Growth is in the red 0.3 percent to 7,580.02.

In Europe, Paris' CAC 40 is up 0.2 percent, Frankfurt's DAX 40 rises with 0.5 percent while London's FTSE 100 gives up 0.4 percent.

On the main list in Piazza Affari, Banca Monte dei Paschi di Siena is doing best of all, up 4.6 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.

UniCredit -- up 0.8 percent -- reported Tuesday that it had purchased 8.8 million of its own ordinary shares between Nov. 6 and Nov. 10.

The shares were taken over at an average unit price of EUR23.6676, for a total value of EUR208.2 million.

Banca Generali rises 1.8 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 same 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."

ERG, up 2.4 percent, 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, on the other hand, adjusted group net income from continuing operations was EUR35 million, in line with the third quarter of 2022.

At the bottom remains CNH Industrial, in the red by 1.5 percent after opening down 0.9 percent.

On the Mid-Cap, EuroGroup Laminations remains on top with 7.0% after approving Monday its consolidated financial results as of September 30, reporting a profit of EUR30.4 million in the first nine months from EUR32.3 million in the same period of 2022.Revenues amounted to EUR644.2 million from EUR651.1 million.

Saras follows, up 3.8 percent.

Banca Popolare di Sondrio also did well, up 2.9 percent. On Monday evening, DBRS Morningstar agency reported that, at the end 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)," and at the same time upgraded the trend from "stable" to "positive."

Cembre -- in the green by 0.3 percent -- reported Tuesday that it closed the first nine months with revenues up to EUR169.0 million from EUR149.0 million in the same period a year earlier.

Pre-tax income rose to EUR43.1 million from EUR32.9 million while net income grew to EUR32.1 million from EUR24.3 million a year earlier.

Salvatore Ferragamo -- up 0.2 percent -- reported that nonexecutive and nonindependent director Peter Woo has resigned.

Woo will receive no severance and, as of today, holds 10.1 million shares in the company, held through Majestic Honour Ltd.

The board of directors of Antares Vision -- down 2.6 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 side, Centrale Del Latte D'Italia -- in the green by 2.7 percent -- reported Tuesday that it closed the first nine months of the year with a 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 -- up 1.7 percent -- reported Tuesday that it ended the first nine months with revenues rising to EUR600.7 million from EUR521.2 million in the same period a year earlier. Operating profit flew to EUR31.8 million from EUR11.7 million while net income jumped to EUR18.2 million from EUR3.5 million.

Landi Renzo gave up 8.3 percent after announcing Monday evening that it had made a group loss of EUR27.7 million in the first nine months of the year, worsening from a EUR10.1 million loss recorded in the same period last year.

The board of directors of Esprinet -- in the red by 2.1 percent -- approved the Additional Periodic Information as of September 30. For the nine months 2023, revenues from contracts with customers stood at EUR2.74 billion, marking a 15 percent decrease compared to the result for the same period last year when they amounted to EUR3.21 billion.

Italian Design Brands -- up 0.8 percent -- reported Monday that it had revenues of EUR198.3 million in the first nine months of the year, up from EUR136.5 million recorded as of Sept. 30, 2022.

Giglio Group climbs 2.6 percent after reporting Tuesday that it ended the nine months with a return to net income despite a year-on-year decline in revenues.

The company reported a net profit of EUR110,000 as of Sept. 30, which compares with a net loss of EUR849,000 in the same period last year.

Among SMEs, ESI is on top with a 5.9 percent rise after reporting Tuesday that it has 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 larger 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.

In New York overnight Europe, the Dow closed up 0.2 percent at 34,337.87, the Nasdaq lost 0.2 percent to 13,767.74 while the S&P 500 gave up 0.1 percent to 4,411.55.

Among currencies, the euro changed hands at USD1.0718 against USD1.0689 recorded in Monday's European stock close while the pound is worth USD1.2287 from USD1.2243 last night.

Among commodities, Brent crude is worth USD82.72 per barrel from USD81.53 per barrel at Monday's close. Gold, meanwhile, trades at USD1,946.99 an ounce from USD1,942.45 an ounce last night.

Tuesday's macroeconomic calendar includes at 1430 CET, eyes on U.S. inflation while in the evening will come the weekly oil stocks data, at 2230 CET.

By Chiara Bruschi, Alliance News reporter

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