(Alliance News) - European stock markets move slightly higher Tuesday as trading rooms prepare for the latest U.S. inflation reading in an attempt to anticipate interest rate decisions by major central banks this week.
The ECB, BoE and U.S. Fed are all set to keep rates at multi-year highs, pushing attention to any "hints" on the timing and pace of potential rate cuts starting next year.
Data included that the Zew indicator of economic sentiment for the euro area jumped 9.2 points to 23 in December, marking the highest reading in ten months and well above market forecasts of 11.2. The data were published Tuesday by the Center for European Economic Research. In December, 37.6 percent of analysts surveyed expected an improvement in economic conditions, 47.8 percent expected stability and 14.6 percent expected a worsening.
The FTSE Mib is advancing in decelerating fractional green at 30,440.05 after an intraday high at 30,571.47.
Among the smaller listings, the Mid-Cap is giving up 0.1 percent to 42,639.41, the Small-Cap is giving up 0.4 percent to 26,570.62, and Italy Growth is giving up 0.1 percent to 8,063.30.
In Europe, London's FTSE 100 advances 0.3 percent, Paris' CAC 40 is in fractional red, and Frankfurt's DAX 40 has given up 0.2 percent.
On the Mib, Banco BPM is advancing well, posting a plus 2.6% at EUR5.16 per share. The board of directors approved the group's Strategic Plan 2023-2026. "The ambition of the new Plan is to increase shareholder remuneration very significantly, leveraging financial and industrial levers that will give further impetus to the growth of total revenues to EUR5.4 billion as of 2026 from EUR5.25 billion at the end of 2023," reads the released note.
On the profitability front, the group is targeting net income of over EUR1.5 billion to 2026 from EUR1.2 billion to 2023 and ROTE to 13.5 percent to 2026 from 12 percent to 2023.
The buy side also prevails well on Amplifon, which advances 1.6 percent, in its third session among the bullish and showing a good performance since the bell rang.
Recordati, on the other hand, marks a plus 1.4 percent, with new price at EUR47.30 per share, on its third session among the bullish.
FinecoBank, on the other hand, is stepping back 1.3 percent, the subject of profit-taking after nine sessions on the bullish side.
Selling also prevails on Banca Monte dei Paschi di Siena, which gives up 0.9 percent with new price at EUR3.33 per share after 2.9 percent green on eve.
On the cadet segment, Buzzi pushes ahead 2.1% to EUR27.28 per share after 1.1% decline.
Also doing well is Cementir Holding, which scores a plus 1.7% and places the price bar in the EUR27.32 per share area.
Boost on Brunello Cucinelli, which marks a plus 1.2%, with the stock aiming for its fourth session to be asked among the bullish.
Boost also on illimity, which moves ahead 1.0% on its third bullish session.
Technogym--down 0.1 percent--announced Tuesday that it purchased--in the period between Dec. 4 and Dec. 8-- 113,000 shares of its common stock. The weighted average price was EUR8.67 per share for a value of about EUR979,000.
On the Small-Cap, Mondo TV marks a plus 6.1 percent, pointing to its third bullish daily candle. Of note, the stock marks a loss of more than 40% in 2023.
Seri Industrial advances 4.6 percent to EUR3.40 per share after a 1.8 percent loss on eve.
Gequity, on the other hand, moves ahead 5.3%, with new price at EUR0.019, after a 5.0% decline in the previous session.
Basicnet advances 3.4%, after a 0.3% loss in the previous session.
Among PMIs, Bellini Nautica advances well, bringing the bar up 12 percent before going into volatility auction after two bullish sessions.
eViso, on the other hand, scores a plus 5.6 percent, after declining 0.8 percent on the eve.
CrowdFundme, on the other hand, advances 4.9 percent, in its fifth bullish session.
On a negative note, Impianti leads down 5.9 percent, the subject of profit-taking after three sessions of double-digit gains.
In New York, the Dow closed ahead 0.4 percent, the Nasdaq up 0.2 percent, and the S&P 500 advanced 0.4 percent.
Among currencies, the euro changed hands at USD1.0790 against USD1.0772 recorded in Monday's European stock close, while the pound is worth USD1.2560 from USD1.2664 on Monday evening.
Brent crude is worth USD75.95 per barrel versus USD76.40 per barrel at Monday's close. Gold, meanwhile, trades at USD1,984.80 an ounce from USD1,992.90 an ounce last night.
Tuesday's macroeconomic calendar features US inflation at 1430 CET while, at 1800 CET, will come the EIA's short-term energy forecast. At 2230 CET, the day will close with data on weekly oil stocks.
By Maurizio Carta, Alliance News senior reporter
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