(Alliance News) - European stock exchanges, with Milan tagging along, opened trading in an uptrend on Tuesday, with the Milanese bluechip list heading to the 34,800 area. The JOLTs report on U.S. job openings is expected later in the day, in addition to Friday's much-anticipated jobs report, which is also expected to provide further guidance on the global monetary policy outlook.
Optimism about a potential interest rate cut by the Federal Reserve waned after Monday's data revealed a notable increase in U.S. manufacturing activity for the first time in 18 months in March.
On Tuesday, in the CME Group platform FedWatch Tool, using futures also based on the actual federal funds rate, or EFFR, the rate confirmation in the May meeting has a 96 percent probability for confirmation in the 525/550 bps range.
The 25 bps decline in the 500/525 bps target is therefore priced at 4%.
For the June meeting, futures indicate a percentage of a 25 bps cut of about 57 percent.
Thus, the FTSE Mib, is advancing 0.2 percent to 34,833.86, the Mid-Cap is advancing 0.2 percent to 48,276.28, the Small-Cap is picking up 0.3 percent to 28,580.52, and Italy Growth is giving up 0.1 percent to 8,106.72.
In Europe, the CAC 40 in Paris is advancing 0.3 percent, London's FTSE 100 is advancing 0.7 percent, and Frankfurt's DAX 40 is marking plus 0.1 percent.
On the Mib, Saipem is advancing well, opening in the green by 3.1 percent, on the heels of the same asset with which it ended the last session.
Good start also for parent Eni, which is up 2.5% to EUR15.00 per share, in its third bullish session.
Strength also on Intesa Sanpaolo, which scores a plus 0.9% with new price at EUR3.39 per share, updating its new 52-week high.
Barclays cuts target price for STMicroelectronics to EUR40.00 from EUR46.00. However, the stock opened up 1.0% to EUR40.37 per share.
On the cadet segment, Fincantieri advances well, bringing the price bar up 1.8% to EUR0.6920 per share.
Seco, meanwhile, marks a plus 2.8 percent, in its third bullish session.
At the tail end, Buzzi is stepping back 1.9 percent after good numbers released for 2023, with a net profit of EUR967 million comparing with EUR459 million in the previous year. The board proposed the distribution of a dividend of 60 cents per share, up from the 455 cents paid last year.
The segment is closed by Brunello Cucinelli, which trades minus 2.1 percent at EUR103.80 after last session's 2.5 percent green.
On the Small-Cap, strength on algoWatt, which moves ahead 7.2% on its sixth bullish candle.
Giglio Group, meanwhile, marks a 6.1% gain, with new price at EUR0.4170.
Seri Industrial - up 1.9% - reported that it closed 2023 with a net loss of EUR6.3 million, which compares with a net loss of EUR3.4 million in 2022. Revenues rose to EUR200.1 million from EUR199.6 million while Ebitda increased to EUR22.9 million from EUR17.4 million.
At the tail end, Ratti is stepping back 7.0% to EUR2.00, a new 52-week low.
Among SMBs, boost on DBA Group, which marks a plus 9.8% on its third bullish session.
Clabo advances 4.8%, with price at EUR2.62 per share, following up on its previous three bearish sessions.
For Circle, on the other hand, the rise is 4.1 percent to EUR6.40 per share, in position for its fifth bullish session after good numbers for 2023. Indeed, net income stands at EUR1.7 million from EUR800,000.
Among the bearish, numerous on the list, Gismondi 1754 marks an 8.0 percent decline to EUR3.66 per share, at 52-week lows.
In New York, the Dow gave up 0.6 percent, the Nasdaq rose 0.1 percent, and the S&P 500 closed down 0.2 percent.
In Asia, the Hang Seng is picking up 2.2 percent, the Shanghai Composite gives up 0.1 percent, while the Nikkei picked up 0.1 percent.
Among currencies, the euro changes hands at USD1.0736 versus USD1.0801 recorded at last Thursday's stock close, while the pound is worth USD1.2552 from USD1.2640 at Milan's last close.
Among commodities, Brent crude is worth USD88.43 per barrel versus USD86.54 per barrel at Thursday's close. Gold, meanwhile, trades at USD2,255.27 an ounce from USD2,218.96 an ounce last night.
Tuesday's macroeconomic calendar has Germany's inflation data at 1400 CET while from the States, the US durable goods and factory orders data will be released at 1600 CET.
Between 1800 CET and 1930 CET, meanwhile, speeches by FOMC mebers Williams, Mester and Daly will be held, while the weekly oil stocks data will close the day.
Among companies, no particular announcements are expected.
By Maurizio Carta, Alliance News senior reporter
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