(Alliance News) - Major European stock markets closed in positive territory on Tuesday as U.S. exchanges remained closed for Martin Luther King Day and the focus shifted to the currency market.

"The start of the week for the U.S. dollar was quiet, although the Japanese yen began to come under some pressure ahead of the Bank of Japan's rate decision on Wednesday. Earlier in the day the yen touched its highest level since May last year in anticipation of a possible policy change by Japanese policymakers after last month's change in yield curve control policy settings," commented Michael Hewson, chief market analyst at CMC Markets.

Thus, the FTSE Mib closed up 0.5 percent at 25,901.33, as did the Mid-Cap at 42,244.27, the Small-Cap rose 0.7 percent to 29,449.76, and Italy Growth finished up 0.3 percent at 9,523.31.

The FTSE 100 closed in the green by 0.29 percent, Paris' CAC 40 finished up 0.3 percent and Frankfurt's DAX 40 gained 0.4 percent.

On the main list in Piazza Affari, Banco BPM made its way up 4.2 percent and took the lead. On the stock it is reported that Redburn which raised its recommendation on the stock to 'buy'.

In addition, the company announced Monday that it has signed a EUR5 million financing agreement to benefit Mare Group, a company that has been in business for more than 20 years and is focused on innovation through new industry-enabling technologies.

The financing is in addition to transactions already underway to support Mare Wave, the multi-year growth plan designed to enable investments of up to EUR80 million and which, already underway, is rapidly accelerating Mare Group's evolution domestically through acquisitions, organic growth and the introduction of a new scalable business model.

Telecom Italia -- up 3.3 percent -- announced Monday that Vivendi SA ceo Arnaud De Puyfontaine has resigned as a member of TIM's board of directors, effective immediately.

Arnaud De Puyfontaine, reads a company note, explained "how, at this stage of constructive dialogue between TIM's main shareholders and the institutions under the leadership of the new government, it is essential that all parties are free to work constructively and transparently in the interest of the company and all its shareholders."

Saipem also did well, rising 2.7 percent, while parent company Eni, on the other hand, gave way, down 0.7 percent. The Six-legged Dog announced over the weekend a major new gas discovery in the Nargis-1 exploration well in the "Nargis Offshore Area" concession in the eastern Mediterranean Sea, offshore Egypt. The Nargis-1 well, drilled in 309 meters of water by the Stena Forth drillship, encountered about 61 meters of Miocene and Oligocene sandstones containing gas. The discovery may be developed by taking advantage of its proximity to existing Eni infrastructure.

Snam, meanwhile, advances 1.5 percent to EUR4.93. On the stock, it is reported that Deutsche Bank raised its target price to EUR5.20 from EUR5.00.

On the cadet segment, WIIT -- in the green by 2.9 percent -- reported Monday that its German subsidiary myLoc managed IT has signed an agreement to purchase 100 percent of the share capital of Global Access Internet Services.

The enterprise value is about EUR6.2 million, subject to adjustments related to the company's net financial position and working capital as of Dec. 31, 2022. Eighty percent of the amount due was paid at closing while the remaining 20 percent was deposited in an escrow account to secure the adjustments expected after the 2022 closing.

Alerion stretches 2.7 percent bringing the price to EUR32.35 per share. The company took over 6,021 treasury shares from January 9 to January 13, 2023 for a total value of EUR189,628.91.

Webuild -- in the money with 3.6 percent -- reported Monday that its U.S. subsidiary Lane was awarded a USD218 million contract to increase capacity and improve mobility and safety at the intersection of Interstate 4 (I-4) and Sand Lake Road (State Road 482) in Orange County, Florida. The intersection is part of the well-known Orlando tourism corridor that connects some of Central Florida's most important attractions, such as Universal Studios, Sea World, and Walt Disney World.

LU-VE Group -- up 0.2 percent -- on Monday reported key results for the year 2022, reporting revenues generated as of December 31, 2022 of EUR605 million, up 25 percent from December 31, 2021. On a like-for-like basis, the growth would have been 2.3%.

In addition, the company reported that the order backlog as of December 31, 2022 amounted to EUR188.8 million, up 4.8 percent from December 31, 2021. On a like-for-like basis there would have been a decrease of 4.5 percent

Salvatore Ferragamo also rises, marking a plus 1.3 percent to EUR17.75. On the stock, Bank of America raised its fair value to EUR14.00 from EUR12.00.

On the Small-Cap, GPI rises 0.7 percent after it announced that the company-led Temporary Grouping of Companies won the tender for the implementation of the Region of Lombardy's regional electronic medical records.

The EUR32.7 million contract, the company explained in a note, calls for the supply of the EHR application solution based on a single technology platform extended to all 19 Lombardy Regional Health Authorities. GPI's 38 percent share is worth about EUR12.4 million.

Also moving on the uptowns is algoWatt, in the green by 3.8 percent at the close. The company announced Monday that it has obtained a EUR275,000 grant for activities as a digital energy solution provider and system integrator under the Thumbs Up project "Thermal energy storage solUtions to optimally Manage BuildingS and Unlock their grid balancing and flexibility Potential."

Among the bearish, Bastogi takes a step backward by 0.6 percent. There is high trading volume on the stock, marking over 21,000 against a three-month average of about 7,300.

Among SMEs, Digital Magics - in the green by 1.8 percent - announced Monday that it has obtained international "Benefit corporation" or B-Corp certification.

DBA Group - in the black by 1.0 percent - announced Monday that it has begun a share buyback program of up to 350,000 shares.

The purchases are to be made by Dec. 28, 2023, and will be used by the company to equip itself with a package of shares useful for industrial or extraordinary finance transactions.

Among currencies, the euro changed hands at USD1.0823 against USD1.0818 at Friday's close. In contrast, the pound is worth USD1.2204 from USD1.2199 on Friday evening.

Among commodities, Brent crude is worth USD84.03 per barrel from USD84.43 per barrel Friday night. Gold, meanwhile, trades at USD1,917.95 an ounce from USD1,911.08 an ounce last session.

Tuesday's economic calendar opens at 0300 CET in China, with data on GDP, December industrial production, unemployment rate and retail sales.

In the Old Continent, at 0800 CET, data on the unemployment rate, average incomes and change in unemployment claims arrive from the United Kingdom.

At the same time, the consumer price index for December is published in Germany.

An hour later, the consumer price index for Italy is released, while at 1100 CET, again in Germany, it is the turn of the ZEW index of German economic conditions. At the same time, the ZEW confidence sentiment for the Eurozone is released.

At 1300 CET, the OPEC monthly report is due.

In the afternoon, data on inflation, foreign bond buying, and foreign bond buying arrive from Canada.

Among the companies listed in Piazza Affari, the results of Gibus are expected.

By Claudia Cavaliere, Alliance News reporter

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