(Alliance News) - Piazza Affari closed higher on Tuesday, taking the point bar above 28,300, doing better than the other major Old Continent stock exchanges, which were equally on an active trend.

Trading rooms, at any rate, are shining their spotlights on the situation in the Middle East, assessing the evolution of the conflict between Israel and Hamas. Just on the war front, Tel Aviv has ordered a "complete siege" of the Gaza Strip. The U.S., on the other hand, has pledged military aid, and a ground operation against Gaza is expected in the next 24-48 hours, while air force strikes on Hamas targets and against Hezbollah in Lebanon continue, in addition to rocket fire from Gaza.

The FTSE Mib, therefore, closed up 2.3 percent to 28,318.22, the Mid-Cap gained 2.1 percent to 39,521.38, the Small-Cap closed up 1.7 percent to 25,454.96, while Italy Growth finished in the green by 0.4 percent to 8,080.31.

In Europe, London's FTSE 100 closed up 1.9 percent, Paris' CAC 40 closed up 2.0 percent, and Frankfurt's DAX 40 was up 1.9 percent.

On the main list of the Italian stock exchange, Amplifon advanced well, closing up 4.4 percent with price at EUR27.30, rearing its head after four sessions among the bearish.

It did even better than Nexi, which closed instead up 4.8 percent to EUR5.74.Of note, Barclays cut its target price on the stock to EUR6.50 from the previous EUR7.60.

The buy side also prevails well on Telecom Italia, which raised the bar 4.7 percent to EUR0.2730. Several media reported on the meeting between Treasury Minister Giancarlo Giorgetti and Meloni government chief of staff Gaetano Caputi, who, at the request of Vivendi, which is TIM's largest shareholder, received Chairman Yannick Bollorè and CEO Arnaud de Puyfontaine. For Vivendi, KKR's offer does not do justice to the strategic value of the infrastructure, without solving the debt problem at its root, putting the remaining company and its employees at risk. That is why the French shareholder is ready to protect its rights in the most appropriate legal venues.

KKR has been working since June 26 together with TIM management to formulate a binding offer by Oct. 15 for Netco, the company that encompasses the primary and secondary network, and Sparkle's submarine cables-which the MEF intends to take over at a later date.

Azimut Holding - up 1.1 percent - reported Tuesday that it recorded positive net inflows of EUR247 million in September, reaching EUR5.0 billion since the beginning of the year and with a full-year 2023 target of EUR6-8 billion, of which 60 percent or EUR3 billion was directed into asset management products. Total assets under management stood at EUR59.1 billion and, including assets under administration, reached EUR87.2 billion at the end of September.

On the cadet segment, however, good momentum on Alerion, which advanced 7.2 percent, with the company continuing its buyback program on a regular basis. Most recently, it announced on Monday that it bought back 6,250 of its own ordinary shares between October 2 and 6, for a total value of EUR157,000 or so.

Carel Industries, on the other hand, rallied 3.8 percent, priced at EUR21.85 per share, after Monday's 3.9 percent decline.

Ariston Holding, on the other hand, advanced 4.6 percent, after a 1.8 percent loss on the eve.

ENAV -- in the money with 2.1 percent -- announced Tuesday that it has received a EUR160 million loan for the modernization and digitalization of its air traffic management infrastructure and systems from the European Investment Bank.

Salvatore Ferragamo ended the run in the green by 1.8 percent, with new price at EUR12.09 per share. It is mentioned that on the stock Goldman Sachs increased its target price to EUR14.00 from EUR13.70.

Among the list's small group of bearish performers, Antares left 3.9 percent on the floor, continuing its long bearish trend.

On the Small-Cap, boost on doValue, which brought home a 7.3 percent gain. The company announced Monday that it will start with a 2.0 million-share buyback program. The shares, equal to 2.5 percent of the company's share capital, can be taken over by October 25, 2024, and at Friday's price of EUR3.59, the amount invested would be EUR7.2 million.

Also showing off was Sogefi, which closed up 6.9 percent and marked its fourth consecutive bullish candle.

Giglio Group, on the other hand, moved ahead by 5.6%, rearing its head again after two sessions closed down.

Servizi Italia - up 2.1 percent - announced Tuesday that it had signed a contract with Steris Spa to acquire the latter's decontamination and sterilization services business unit. The price of the deal, which is estimated to be effective by December, has been set at EUR2.7 million between the parties and will be financed through available resources.

On a negative note, among the very few bearers, Restart gives up 6.3 percent bringing the price to EURE0.2100, subject to profit taking after two closed sessions accumulating an asset of more than 8 percent.

Among the SMBs, Gambero Rosso rallied over 10%, in its third bullish session.

Also good, Ecomembrane closed up 8.5 percent, on its third bullish session.

On a negative note, Ambromobiliare gave up 5.7 percent, repricing to EUR1.65 per share, ending its third straight bearish session.

Farmacosmo, on the other hand, fell 6.3% to EUR0.74, subject to profit taking after four sessions in which buying prevailed.

In New York, the Dow is up 0.6 percent, the Nasdaq is up 1.4 percent, and the S&P 500 is moving bullish by 1.0 percent.

Among currencies, the euro changes hands at USD1.0606 against USD1.0544 recorded in Monday's European stock close, while the pound is worth USD1.2271 from USD1.2210 on Monday evening.

Among commodities, Brent crude is worth USD87.35 per barrel from USD88.09 per barrel at Monday's close. Gold, on the other hand, trades at USD1,859.00 an ounce from USD1,852.67 an ounce on Monday evening.

Wednesday's macroeconomic calendar opens at 0800 CEST with inflation from Germany and at 1000 CEST Italian industrial production. At 1110 CEST a 12-month BOT auction is scheduled.

At 1300 CEST the US mortgage report, while at 1430 CEST it will be the turn of the producer price index. At 1615 Waller's speech, and at 1815 CEST Bostic's. Expected at 2000 CEST are the FOMC minutes, while at 2230 CEST will come out the weekly oil stocks.

No special events are scheduled on the corporate calendar.

By Maurizio Carta, Alliance News reporter

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