(Alliance News) - On Tuesday, major European stock markets trade lower after an avalanche of macroeconomic data released during the morning that saw the Italian economy contract in the fourth quarter.

Thus, the FTSE Mib trades in the red by 0.1 percent to 26,299.36, the Mid-Cap is on the parity line at 43,087.48, the Small-Cap gives up 0.6 percent to 29,416.31, and Italy Growth gives up 0.7 percent to 9,528.35.

In Europe, London's FTSE 100 is in the red by 0.7 percent, Paris' CAC 40 gives up 0.6 percent, as does Frankfurt's DAX 40.

In macroeconomic news, in the fourth quarter of 2022, seasonally adjusted GDP increased by 0.1 percent in the euro area and remained stable in the EU. In the third quarter of 2022, GDP had grown by 0.3 percent in both the euro area and the EU.

This was the weakest pace of expansion since the first three months of 2021, as demand and activity were hit by high inflation and rising financing costs, as well as supply chain bottlenecks.

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 1.9 percent in the eurozone and 1.8 percent in the EU in the fourth quarter of 2022, following a 2.3 percent increase in the eurozone and 2.5 percent in the EU in the fourth quarter of 2022.

In Italy, gross domestic product in the fourth quarter of 2022 is estimated to have declined by 0.1 percent from the previous quarter, when it was up by 0.5 percent.

In trend terms, fourth-quarter GDP grew by 1.7 percent less than in the same period of 2021, when it had accelerated by 2.7 percent.

Also in Italy, the unemployment rate remained stable at 7.8 percent in December 2022 compared to the previous month and in line with market expectations, while the youth rate dropped 0.5 point to 22 percent, Istat reported Tuesday morning.

On the main list of Piazza Affari, UniCredit jumps 8.5 percent after announcing a profit for the year 2022 excluding Russia to EUR5.4 billion from EUR3.3 billion in the previous year, "the best result in over a decade," as pointed out by CEO Andrea Orcel.

A2A - in the red by 0.5 percent - announced that it had placed a new EUR500 million "Green Bond" with an 11-year term. The issue registered great interest, receiving orders for about EUR2.2 billion, about 4 times the amount offered.

Campari is up 0.9 percent. The company bought 570,239 of its own ordinary shares between Jan. 23 and Jan. 27 at an average price per share of EUR9.6582, for a total consideration of EUR5.5 million.

On the Mid-Cap, MFE-MediaForEurope--with A and B shares trading in the green by 3.2 percent and 0.1 percent--reported Monday evening that the boards of directors of MFE and its subsidiary Mediaset España Comunicación SA have approved and agreed to sign the joint plan for the cross-border merger by incorporation of MES into MFE.

From a strategic, operational and industrial point of view, this merger, the company explains in a note, "is aimed at the strategic and operational integration of the participating companies, which until now have operated independently in their respective territorial areas, resulting in the creation of a pan-European group active in the media and entertainment market."

Webuild is in the red by 2.3 percent. The company announced Monday that it has been awarded the EUR208 million construction contract for the doubling and modernization of Lot 1 of the Ragusa-Catania highway.

Brunello Cucinelli gives up 0.4 percent after going 0.8 percent red on the eve. The company announced on Friday that it purchased 15,883 of its own ordinary shares between January 23 and 26, 2023. The shares were purchased at an average price of EUR73.4120 for a total value of about EUR1.2 million.

Juventus Football Club - in the red by 1.0 percent - announced on Monday that it had reached an agreement with Leeds United Football Club for the sale, on a temporary basis until June 30, 2023, of the rights to the sports performance of footballer Weston McKennie for a consideration of EUR1.25 million, plus bonuses of up to a maximum of EUR250,000 upon the occurrence of certain sporting goals.

On the Small-Cap, Il Sole 24 Ore rises 2.1 percent. The socity said Monday that its board of directors approved the appointment of Emilio Bernacchi, head of administration, budget, finance and treasury at the 24 ORE group, as interim manager in charge of preparing corporate accounting documents.

Civitanavi Systems - up 0.6 percent - and PV-Labs, a Canada-based company engaged in the design and manufacture of gyro-stabilized gimbals and advanced ISR&T imaging systems, announced the signing of a binding agreement for CNS to purchase a 30 percent minority stake in PV-Labs for USD2.5 million.

Caleffi--in the red by 1.8 percent--reported Friday that its board of directors resolved to purchase from Giuliana Caleffi the remaining 30 percent of the share capital of its subsidiary Mirabello Carrara, a company specializing in the production, purchase and sale of home textiles under its own brands and under license from authoritative fashion brands, and to sign the related purchase and sale agreement.

Among SMEs, Esautomotion gives up 1.6 percent after announcing Tuesday that group revenues as of Dec. 31, 2022 were EUR34.0 million, up 19 percent from 2021 when they were EUR28.6 million.

Clabo gives up 6.3 percent. On Monday it reported that the board of directors reviewed some management data for fiscal year 2022, reporting total consolidated revenues of EUR58.8 million, up 16 percent from the previous year when they amounted to EUR50.8 million.

Tecma Solutions gives up 3.9 percent. The company announced that it has signed a loan agreement with Intesa Sanpaolo in the amount of EUR2.5 million, with a term of six years and an initial grace period of 18 months.

The loan agreement, in line with the best market conditions, does not include covenants or guarantees other than the benefit of the guarantee from the InvestEU Fund.

Casta Diva Group - unchanged at EUR0.70 per share - on Monday reported that its board of directors reviewed the preliminary consolidated revenue figure for fiscal year 2022, not yet audited, which closed at EUR82 million, up 175 percent from EUR29.7 million in 2021.

The board of directors of expert.ai - unchanged at EUR0.61 per share - resolved to partially exercise the proxy given to it by the shareholders' meeting, increasing the share capital for cash and in divisible form, for a total amount, including share premium, of EUR239,974.00, one tranche of which was assigned to Walt Mayo - the company's ceo - by issuing 393,400 new ordinary shares with regular dividend entitlement, with no indication of the par value expressed at a price of EUR0.61 per share.

In New York on European night, the Dow closed 0.8 percent in the red at 33,717.09, the Nasdaq gave up 2.0 percent to 11,393.81, and the S&P 500 fell 1.3 percent to 4,017.77.

Among currencies, the euro changed hands at USD1.0826 versus USD1.0867 at Monday's close. In contrast, the pound is worth USD1.2326 from USD1.2374 on Monday evening.

Among commodities, Brent crude is worth USD83.51 per barrel from USD85.24 per barrel on Monday evening. Gold, meanwhile, trades at USD1,904.40 an ounce from USD1,923.90 an ounce last session.

On Tuesday's calendar in the afternoon are GDP data from Canada.

By Claudia Cavaliere, Alliance News reporter

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