(Alliance News) - European stock markets-with only Piazza Affari being the exception-are expected to open slightly lower Tuesday, with markets uncertain within a week focused on interest rate decisions by major central banks.

The U.S. Federal Reserve will begin its two-day policy meeting later today and announce its interest rate decision for tomorrow evening. It is widely expected that the central bank will raise interest rates by 25 basis points.

"But what Fed officials will do is remind investors that the tightening cycle is probably not over and that there will probably be another rate hike on the U.S. horizon. So yes, there is a big chance that the Fed will spoil your mood if you are among those who think that this week's rate hike will be the last of this tightening cycle in the U.S.," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

The FTSE Mib, therefore, marks a step up 27.50 points, after closing up 0.2 percent at 28,908.42 last night.

In Europe, London's FTSE 100, Paris' CAC 40 as well as Frankfurt's DAX 40 moved just slightly below parity .

Last night, the Mid-Cap rose 0.4 percent to 42,323.10, the Small-Cap rose 0.5 percent to 26,804.38, and Italy Growth closed in the green 0.2 percent to 9,082.35.

On the main list of Piazza Affari last night, Intesa Sanpaolo rose 0.2 percent. The bank announced Monday that it has established its first private debt fund to support the development of SMEs and midcaps through innovative financial solutions that support the real economy and sustainable transition processes in a complex but decisive phase for the country's competitiveness.

Stellantis -- which advanced 1.6 percent -- and Samsung SDI announced Monday that they have signed a memorandum of understanding to build a second battery production plant in the U.S. under the StarPlus Energy joint venture. The plant, scheduled to start production in 2027, aims to have an initial annual production capacity of 34 gigawatt hours.

Leonardo -- which finished in the black by 0.5 percent -- announced Monday that it had been awarded 18 research and development projects, including 10 capacitive development and eight research projects, under the European Defence Fund WP22. Of the EUR832 million allocated by the EU, projects in which Leonardo is participating have been awarded a total of about EUR614 million.

On the Mid-Cap, Fincantieri - up 0.1 percent - and Leonardo announced Wednesday that Orizzonte Sistemi Navali, the joint venture owned 51 percent by the former and 49 percent by the latter, has signed, with the Directorate of Naval Armaments of the General Secretariat of Defense, the framework agreement for maintenance in operational condition for the aircraft carrier Cavour and the Navy's Horizon-class destroyers Andrea Doria and Caio Duilio. The agreement has a maximum total value of EUR190 million and will run out at the end of 2028.

Juventus Football Club sold 0.5 percent. The club announced over the weekend that it had reached an agreement with ACF Fiorentina Srl for the sale, on a temporary basis until June 30, 2024, of the right to the sports performance of the player Arthur Henrique Ramos De Oliveira Melo for a consideration of EUR2 million, plus bonuses of up to a maximum of EUR2 million upon the occurrence of certain sporting objectives.

In addition, the agreement provides Fiorentina with the option for Fiorentina to permanently acquire the player's sports performance; the agreed consideration for the permanent transfer is EUR20 million, payable in three fiscal years.

On the Small-Cap, PLC - in the red by 1.1 percent - reported Friday that its subsidiary PLC Service was awarded the revamping of 19 plants held by vehicles controlled by Acea Sun Capital, a company 60 percent controlled by the British private equity fund Equitix and 40 percent by the Acea Spa group.

Sogefi -- in the green by 3.1 percent -- reported Monday that it posted a net profit of EUR31.4 million in the first half of the year, up from EUR20.8 million in the same period of 2022. Revenues amounted to EUR852.4 million from EUR756.0 million in the first half of 2022.

Ebitda was EUR111.1 million up from EUR99.8 million in the same period last year.

Among SMEs, Take Off closed down 5.2 percent after announcing on Monday that it had EUR15.5 million in revenues for the first half of the year ending June 30, 2023, up nearly 20 percent from EUR12.9 million recorded as of June 30, 2022. However, the Ebitda margin for the first half of 2023, which is expected to be between 15 percent and 17 percent, was down from the same period in 2022, when it was 25 percent.

Facilities ended in the red by 4.1 percent after announcing Monday that it has entered into a business partnership with Re Mago, with the aim of providing the Mago software solution to companies looking to revolutionize the meetings experience, whether remote or in-person.

TrenDevice closed on top with a 12 percent rise after reporting preliminary revenues of EUR8.1 million in the first half, down 15 percent from EUR9.6 million in the same period of 2022.

Clabo, on the other hand, finished among the worst, giving up 5.3 percent. On Friday it released its results for the first half of the year during which net sales of EUR32.9 million were reported and were up 20 percent from the first half of 2022-when they were EUR27.3 million-thanks to good revenue performance in North America and Asia.

Marzocchi Pompe gave up 1.0 percent after reporting Monday that it had finalized the purchase of a second property in Zola Predosa, following the one it took over in October last year.

In New York last night, the Dow Jones closed up 0.5 percent, the Nasdaq advanced 0.2 percent, and the S&P 500 marked a 0.4 percent green.

Among Asian exchanges, the Hang Seng is up 3.8 percent, the Shanghai Composite is up 2.0 percent, while the Nikkei is stepping back 0.1 percent.

Among currencies, the euro changes hands at USD1.1078 against USD1.1075 on Monday's European equities close while the pound is instead worth USD1.2838 from USD1.2821 on Monday evening.

Among commodities, Brent crude is worth USD82.98 per barrel versus USD82.38 per barrel at Monday's close. Gold, meanwhile, trades at USD1,961.02 an ounce from USD1,959.55 an ounce on Monday evening.

On Tuesday's macroeconomic calendar, July business expectations and the ifo index of German business confidence are due from Germany at 1000 CEST, along with an assessment of the current German situation.

Also at 1000 CEST, the ECB bank lending survey is scheduled while at 1200 CEST, the 15-year gilt auction will be held.

At 1430 CEST, manufacturing sales are expected from Canada while at 1500, the Housing Price Index and the S&P/CS HPI Composite Index will come out from the US.

An hour later, the consumer confidence report will arrive and at 2230 CEST, the weekly oil stocks.

In Piazza Affari, the half-year results of Acea, Edison, Franchi Umberto Marmi and UniCredit are expected.

By Maurizio Carta, Alliance News senior reporter

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