(Alliance News) - European stock markets head for a downward opening Tuesday as investors continue to assess the economic outlook and global interest rate outlook. Later in the day, markets will also assess Eurozone manufacturing inflation data and services activity PMIs.

Thus, the FTSE Mib is expected to be in the red by 40.0 points or 0.1 percent after closing Monday down 0.1 percent to 29,914.09.

In Europe, Paris' CAC 40 is given to be down 14.8 points or 0.2 percent, Frankfurt's DAX 40 is given to be down 9.7 points or 0.1 percent while London's FTSE100 is expected to be in the red 34.7 points or 0.5 percent.

It is also reported that the private sector in China rose again in November, according to the latest Caixin survey data released Tuesday.

The composite purchasing managers' index, which measures the manufacturing and services sectors, rose to 51.6 in November from 50.0 in the previous month.

For private activity as a whole, it was the 11th consecutive month of growth and the strongest pace since August, as factory activity unexpectedly expanded after falling in October, while the services sector posted its largest increase in three months.

Among Italy's minor listings on Monday, the Mid-Cap gave up 0.8 percent to 42,826.93, the Small-Cap left 0.4 percent at 26,119.90 on the parterre while Italy Growth picked up 0.7 percent to 7,986.35.

On the main list of Piazza Affari, boost on Banca Monte dei Paschi, which moved ahead 3.7 percent with new price at EUR3.25 per share after falling 1.2 percent in the previous session.

As Francesco Bonazzi writes in Alliance News, "the market continues to reward Monte dei Paschi di Siena's turnaround, with progress also recognized today by the European Central Bank, which eased capital requirements for the Treasury-controlled institution. In the background, the issue of alliances always remains, given that with each passing month Monte is becoming more attractive after a dark decade.

"For Via XX Settembre and for Italian taxpayers it is a nice breath of fresh air, although for triumphalism it is still early days. Today Rocca Salimbeni capitalizes about EUR4 billion on the stock market. The old shareholders have lost all their investment and the state, between shares bought and increases subscribed, has spent over EUR7 billion. Now, the Mef still holds 39 percent (it just sold 25 percent for EUR920 million), which at current prices would be worth EUR1.56 billion. With this EUR2.48 billion cashed in or collectible, we are therefore still well below the cost of the 2017 bailout," the columnist points out in his "business on the Square" column.

Nexi, on the other hand, marked a plus 2.0 percent, in its fourth session closed bullish.

Snam - in the green with 0.6 percent - announced on Monday that, following a signing last July, Snam and BW LNG have finalized the Italian group's acquisition of 100 percent of the share capital of FSRU I Ltd, the company that owns the floating storage and regasification unit "BW Singapore," for a total consideration of about EUR367 million.

Eni -- down 1.9 percent -- announced Monday that it has signed a new EUR3 billion five-year sustainability-linked revolving credit facility linked to the achievement of two targets in its Sustainability-Linked Financing Framework updated in April. The new facility will further strengthen the company's financial flexibility, complementing the similar EUR6 billion sustainability-linked credit facility signed in 2022.

Also down was subsidiary Saipem, which gave up 2.2 percent. Said report that Capital Fund Management on Friday cut its short on the stock to 0.93% from 1.09% previously, while Voleon Capital Management reduced it to 0.49% from 0.62% previously.

On the MidCap, OVS rallied 1.4 percent, on its seventh bullish session and bringing the price to EUR2.07.

Piaggio--best on the list with a green of 4.2%--reported on Monday that the Vespa brand was valued at EUR1.08 billion, an increase of 19% over the brand's value obtained in the previous valuation of EUR906 million in 2021. This, the company says, is the result of the study commissioned by the Piaggio Group from global brand consultancy Interbrand on Vespa.

Good purchases were also made on Caltagirone, which in closing crossed the finish line with a plus 1.3 percent after two sessions closed among the bearish.

Technoprobe, on the other hand, gave up 4.2%, with new price at EUR7.46, on the heels of Friday's 1.0% red.

Rear-ends also for Eurogroup Laminations, which closed down 5.1 percent. The company, which is proceeding steadily with its buyback plan, announced on Monday that it had bought back - in the period between November 27 and December 1 - 172,000 of its own ordinary shares, with a total value of EUR621,000 or so.

On the SmallCap, boost on SIT, which advanced 14 percent to EUR3.24 per share, closing for the fifth session in a row with a bullish candle.

Valsoia, on the other hand, advanced 1.6 percent to EUR8.84 per share. High trading volume of nearly 24,000 pieces was reported on the stock, compared with a three-month daily average of about 4,100.

Aquafil, on the other hand, stepped back 4.5 percent with new price at EUR2.77, marking its third straight session with a positive balance.

Mondo TV - down 1.2% - reported that it has strengthened its partnership with Canal+ Thematiques, operator of pay-TV channels in France and part of the Vivendi group, by reaching a preliminary agreement to license the Monster Loving Maniac series.

Among SMEs, finally, Aton Green Storage advanced more than 11 percent to EUR6.14 following up Friday night's gain, albeit by a more modest 1.5 percent.

Casta Diva pushed ahead by 5.1 percent, bringing the price to EUR1.44. The stock since the beginning of 2023 marks a market cap increasei of more than 110%.

At the back of the pack, Copernicus gave up 7.0% to EUR3.74, after two bullish sessions in which it rallied a cumulative more than 8%.

Allcore gave up 6.2 percent by repricing to EUR1.75 per share after posting a high trading volume that exceeded 29,700 pieces, compared with the three-month daily average of 6,400.

In Asia, the Nikkei closed down 1.3 percent to 32,775.82, the Hang Seng gave up 2.5 percent to 16,240.00 and the Shanghai Composite closed 1.7 percent in the red to 2,972.30.

In New York, the Dow Jones closed down 0.1 percent to 36,204.44, the S&P contracted 0.5 percent to 4,569.78, and the Nasdaq fell 0.8 percent to 14,185.49.

Among currencies, the euro changed hands at USD1.0824 against USD1.0820 recorded in Monday's European stock close while the pound is worth USD1.2625 from USD1.2620 on Monday evening.

Brent crude is worth USD78.16 per barrel versus USD78.52 per barrel at Monday's close. Gold, meanwhile, trades at USD2,033.19 an ounce from USD2,025.16 an ounce on Monday evening.

Tuesday's macroeconomic calendar includes, between 0915 CET and 1030 CET the services PMIs from Spain, Italy, France, Germany, the Eurozone and the UK while, at 1100 CET, again from the Eurozone, the producer price index will be available.

From the US, at 1545 CET, focus on the release of the tertiary sector PMI while, at 1600 CET, the JOLTs report for October will be released. Finally, at 2230 CET, the weekly oil stocks data will arrive.

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

By Chiara Bruschi, Alliance News reporter

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