(Alliance News) - The main Milanese index closed lower Tuesday, with the bar at 27,400 and trading rooms monitoring both periodic corporate results and the international geopolitical situation amid possible escalation of the war in Ukraine.

Meanwhile, good economic data from the euro zone rekindled concerns about rate hikes. The services PMI rose to 53.0 points in February from 50.8 points in January, also beating estimates for an increase to 51.0 points. In contrast, the manufacturing PMI dropped to 48.5 in February from 48.8 in the previous month, contradicting forecasts of an increase to 49.3. The indicator remains below 50.0, which separates contraction from expansion in activity.

As a result, the composite PMI -- an average of manufacturing and services data -- rose to 52.3 points from 50.3 a month earlier, beating estimates of an improvement to 50.6.

Thus, the FTSE Mib closed 0.7 percent in the red at 27,409.34.

In Europe, Paris' CAC 40 gave up 0.4 percent, London's FTSE 100 fell 0.5 percent as did Frankfurt's DAX 40.

Among Italy's smaller lists, the Mid-Cap gave up 0.3 percent 44,418.06, the Small-Cap fell 0.5 percent to 30,021.96, and Italy Growth closed 0.5 percent in the red at 9,571.44.

On the main list in Piazza Affari, Banca Generali gave up 1.8 percent to EUR32.55. Of note, Citadel Advisors revised its short position on the stock to 0.7 percent from 0.69 percent previously.

Stellantis gave up 1.7 percent. As data from ACEA, the European Automobile Manufacturers' Association, showed Tuesday, the merged PSA Groupe and Fiat Chrysler Automobiles giant posted a 0.2% drop in sales in January having registered 156,553 cars compared to 156,807 in January 2021, with market share falling to 17.2% from 19.1%. The shares were taken over at an average unit price of EUR2.5146, for a total value of EUR217.4 million.

Recordati's board of directors - down 1.2 percent - reviewed and approved preliminary consolidated results for fiscal year 2022 ended with net income of EUR312.3 million, down 19 percent from 2021.

Campari Group gives up 1.0 percent. The company reported Tuesday that it ended 2022 with double-digit year-on-year sales and profit growth. The company's sales rose 24 percent year-on-year in the last fiscal year, to EUR2.70 billion from EUR2.17 billion a year earlier. Net income rose to EUR333.0 million from EUR284.8 million, up 17 percent year-on-year, while the adjusted figure marks a 26 percent increase, to EUR387.8 million from EUR307.9 million.

Among the positive notes, the segment's minority, Leonardo closed up 2.3 percent to EUR10.46, following eve's red with 2.2 percent. Earlier in the day, the stock came from eight sessions in a row on the bullish side.

On the Mid-Cap, Carel Industries--up 1.8 percent--reported Tuesday that it had signed a binding agreement to take over the entire capital of Eurotec, a distributor and systems integrator based in Auckland, New Zealand.

Banca Popolare di Sondrio, meanwhile, rallied 1.3 percent to EUR4.48 per share. Deutsche Bank raised its target price on the stock to EUR5.40 from the previous EUR4.50.

Antares Vision, on the other hand, gives up 3.7 percent, despite viewing its preliminary consolidated results for fiscal year 2022, which closed with revenues of about EUR224 million, in line with guidance and up about 25 percent year-on-year.

Red also for Monte dei Paschi, which contracted 2.8 percent, after three sessions ended higher.

On the Small-Cap, Mondo TV closed up 11 percent. The company announced Tuesday that it had issued the last two bonds of the tranche related to Atlas Capital Markets' investment, which, at the same time, requested the conversion of the last four bonds of the 28 issued between May and February this year. The conversion price was EUR0.4040 and, therefore, the bonds being converted entitle Atlas to subscribe for 2.5 million Mondo TV shares, which, however, will not be issued, but given on loan by shareholders Giuliana Bertozzi and Matteo Corradi.

Landi Renzo, on the other hand, rose 1.9 percent. The stock traded as high as unusual, at about 2.7 million, compared to the three-month daily average of about 614,000.

PLC closed up 0.7 percent. On Friday, it reported that PLC System, a group company, has signed a contract with Opdenergy Italia Srl for the turnkey construction of a utility substation serving a 25 MW photovoltaic park in Contrada "La Francesca," Benevento province. The contract - signed with another specialized partner for the execution of the necessary civil works - has a total consideration of more than EUR3 million, of which about EUR2 million pertains to PLC System.

Esprinet, on the other hand, fell 5.4 percent, placing the price at EUR6.70 and marking its third session in a row in the bearish camp.

Among SMEs, Alfonsino gives up 5.3 percent to EUR1.1140 per share, with the stock repricing after eve's green with more than 9.5 percent.

High Quality Food retreats 3.9% to EUR1.1050. The stock on a weekly phase marks a depreciation of more than 11 percent.

Eles, on the other hand, closes 1.0% in the red. The company reported Tuesday that revenues for 2022 rose 15 percent year-on-year to EUR21.9 million from EUR19 million a year earlier.

Among the bullish, minority also in this segment, Allcore brings the bar forward 6.0% with over 36,000 pieces traded against a three-month daily average of about 10,500 pieces.

In New York-with exchanges trading at full strength-the Dow is giving up 1.6 percent, the Nasdaq is down 2.0 percent, and the S&P 500 is in the red by 1.6 percent.

Among currencies, the euro changes hands at USD1.0663 versus USD1.0685 at Monday's close. In contrast, the pound is worth USD1.2116 from USD1.2035 on Monday evening.

Among commodities, Brent crude is worth USD83.02 per barrel versus USD83.32 per barrel on Monday evening. Gold, on the other hand, trades at USD1,834.09 an ounce from USD1,842.65 an ounce at Monday's close.

On Wednesday's economic calendar, the CPI from Germany is due at 0800 CET, while the same figure from Italy is due at 1000 CET. Italy is also scheduled to auction 6-month BOTs and 2-year CTZs at 1100 CET and 1130 CET, respectively.

In the US, at 1300 it is the turn of the mortgage rate report, while in the evening at 2000 CET the FOMC minutes will be released.

Among the companies listed in Piazza Affari, the results of Anima Holding, Eni, Eukedos, Pirelli and Stellantis are expected.

By Maurizio Carta, Alliance News reporter

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