(Alliance News) - European stock exchanges are expected to open higher Tuesday, according to IG futures, after recovering yesterday afternoon from morning losses in a session that began with much tension in banking stocks over the takeover of Credit Suisse Group AG by UBS Group AG announced Sunday.

U.S. markets also "ended the day strong, building on the gains we saw last week with the Dow and the S&P500 closing near the highs of recent days. This positive finish saw Asian markets rise to the upside and also looks set to translate into a positive European opening this morning," commented Michael Hewson, Chief Market Analyst at CMC Markets UK.

"With the Federal Reserve's rate meeting scheduled to begin later today, markets have become increasingly divided on what the FOMC might do tomorrow when it comes to interest rates, with opinions split between another 25 basis point hike, a pause and a 25 basis point rate cut."

Thus, the FTSE Mib is expected to rise 207.0 points or 0.8 percent after closing up 1.6 percent at 25,899.57.

In Europe, London's FTSE 100 is expected to open up 34.3 points or 0.5 percent, Paris' CAC 40 is given in the green by 49.5 points or 0.7 percent while Frankfurt's DAX 40 is expected up 137.5 points or 0.9 percent.

Among the smaller lists Monday evening, the Mid-Cap closed in the green 2.1 percent to 42,429.64, the Small-Cap was up 0.5 percent to 29,577.56, while the Italy Growth is closed in the green 0.1 percent to 9,197.51.

On the main list in Piazza Affari, Banco BPM closed marching ahead by 3.9 percent after Friday's 0.2 percent red.

Intesa Sanpaolo, on the other hand, picked up 3.7 percent after Friday's red with 2.5 percent.

FinecoBank, on the other hand, brings home a green of 3.7 percent. On the stock, it is reported that Marshall Wace raised its short position on the stock to 0.83 percent from 0.72 percent

Banca Monte Paschi di Siena - in its first session on the Mib replacing Buzzi Unicem, which closed 2.8% green on the Mid - put up 1.8% after three sessions ended among the bearish.

Among the few bearish performers, DiaSorin gave up 4.3 percent. The company announced Friday that it has received approval from the U.S. Food and Drug Administration for the Simplexa Covid-19 & Flu A/B Direct test. The test detects and differentiates influenza type A and B and SARS-CoV-2 viruses, providing physicians with the information they need to determine the most appropriate course of treatment for a patient.

On the Mid-Cap, El.En. ended at the bottom, down 5.1 percent. The stock closed the session with high trading volume at 390,000, compared with a three-month daily average of about 63,000. Also on the stock, Beremberg cut its target price to EUR15.30 from EUR16.10.

On the list soared Iren, which closed ahead 8.1 percent at EUR1.68 pending results due to be published on Thursday.

Mutuionline, on the other hand, advanced 6.2%, rearing its head again after three sessions ended among the bearish.

Fincantieri was also among the best and gained 4.8 percent after announcing on Friday that it had initiated a new share buyback program to service the company's existing approved incentive plans and in particular the 2021 incentive plan. The plan will target a maximum number of 10 million shares, corresponding to 0.6 percent of the company's share capital, and will last until April 6, 2023.

On the Small-Cap, Softlab closed up 2.9 percent after approving on Friday its consolidated and draft financial statements as of December 31, 2022 reporting revenues up 25 percent to EUR23.7 million from EUR18.9 million a year earlier. Net income of EUR3.2 million is in line with EUR3.1 million in 2021, after reporting net financial management income of EUR239,000 and operating income taxes of EUR939,000.

Piquadro, meanwhile, advanced 1.2 percent to EUR1.67 per share. The company -- which is continuing with its buyback plan -- reared its head again after three bearish sessions.

Fidia gave up 3.1 percent after announcing Friday that it had approved financial statements as of December 31, 2022, having reported net revenues of EUR24.4 million from EUR23.8 million in 2021. Net income amounted to EUR5.8 million from a loss of EUR3.5 million as of Dec. 31, 2021.

Aquafil gave up 5.6 percent after two sessions in the green. The company reported last Thursday that it ended 2022 with a net profit nearly tripled to EUR29.2 million from EUR10.7 million a year earlier.

Among SMEs, Fenix Entertainment advanced more than 18 percent, following a 3.8 percent red on Friday night and bringing the price to EUR0.2860.

DHH, on the other hand, took home 8.6 percent as it awaits results due for release on Tuesday.

Intermonte Partners SIM gave up 0.9 percent, after reporting that it ended 2022 with net income down from 2021, to EUR7.6 million from EUR8.7 million. Net interest and other banking income dropped to EUR38.3 million from EUR43.9 million, net income from financial operations fell to EUR38.2 million from EUR43.9 million, and pretax profit fell to EUR7.6 million from EUR8.7 million.

Culti Milano left the parterre 9.3 percent at EUR20.50 per share, after closing the previous two sessions in the black.

In New York, the Dow closed in the green 1.2 percent to 32,244.58, the Nasdaq rallied 0.4 percent to 11,675.54 while the S&P 500 closed in the green 0.9 percent to 3,951.57.

In Asia, the Nikkei closed down 1.4 percent to 26,945.67, the Hang Seng was in the green 1.3 percent to 19,254.20, while the Shanghai Composite rallied 0.6 percent to 3,255.65.

Among currencies, the euro changed hands at USD1.0708 against USD1.0722 at Monday's close. In contrast, the pound is worth USD1.2253 from USD1.2265 on Monday evening.

Among commodities, Brent crude is worth USD73.33 per barrel versus USD72.09 per barrel on Monday evening. Gold, on the other hand, trades at USD1,974.00 an ounce from USD1,977.22 an ounce at Monday's close.

On Tuesday's economic calendar, at 1100 CET, comes of the ZEW index of economic conditions in Germany and the Eurozone. For the latter, the construction output figure will also be released.

At 1330 CET, a speech by ECB President Lagarde is also scheduled, while at 1500 CET from the US the figure on existing home sales is expected.

At 2130 CET, there will be the data on weekly oil inventories.

On the corporate calendar, results from B&C Speakers, Gambero Rosso, HERA, Piovan, Primsi, and Telesia are among the many scheduled.

By Chiara Bruschi, Alliance News reporter

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