(Alliance News) - At mid-day Tuesday, Piazza Affari beats a retreat after a bullish opening, along with Frankfurt, while London remains in the red as this morning and Paris holds just above par.

Thus, the FTSE Mib is in the red by 0.2 percent to 25,766.90, the Mid-Cap is down 0.1 percent to 43,124.33, the Small-Cap gives up 0.2 percent to 29,712.84, and Italy Growth is the only one up, by 0.4 percent to 9,604.21.

In Europe, Paris' CAC 40 rises 0.1 percent, London's FTSE 100 gives up 0.4 percent, and Frankfurt's DAX 40 gives up 0.2 percent.

A downward trend, then, despite flash data released by Markit Economics on Tuesday, according to which the seasonally adjusted S&P Global PMI composite index of Eurozone manufacturing in January rose for the third consecutive month, marking an uptick to 50.2 from 49.3 in December, thus surpassing the no-change threshold of 50.0 and thus indicating the first expansion in economic activity, albeit marginal, since last June.

In Germany, S&P Global's preliminary composite PMI stands at 49.7 in January 2023 from 49.0 in December 2022 according to flash estimates released Tuesday by Markit Economics.

Although contracting for the seventh consecutive month, the latest reading is the highest in this sequence and marks the third consecutive monthly increase.

In Milan, on the main list of Piazza Affari, Terna picks up 0.3 percent, after announcing Monday that board member Ernesto Carbone has resigned with immediate effect following his appointment by the joint session of Parliament as a member of the Superior Council of the Judiciary.

FinecoBank-which at 1.5 percent in the red is among the worst-announced Monday that the board of directors will ask shareholders for authorization to purchase up to 246,015 of its own ordinary shares.

The shares, amounting to less than 0.1 percent of its share capital, will be used to actualize the "System 2023 PFA" plan for financial advisers identified as the most relevant personnel.

Worse is only Saipem, down 1.9 percent.

Also hurting is Eni, which leaves 1.1 percent on the parterre. The company announced Monday that CEO, Claudio Descalzi, and Sonatrach CEO, Toufik Hakkar, signed strategic agreements in Algiers outlining future joint projects in energy supply, energy transition and decarbonization.

Tenaris, the third-largest oil stock on the Mib, is also at the bottom, losing 1.0 percent.

Telecom Italia reverses course and, after opening up 1.4%, now gives up 0.1%. Following approval by the board of directors on January 18, and upon completion of bookbuilding activities, TIM placed an EUR850 million fixed-rate unsecured bond offered to institutional investors.

Proceeds from the new issue will be used to optimize and refinance existing debt maturities, the company explained in a note.

On the Mid-Cap, Webuild is among the best performers, rising 1.9 percent. The company informed Monday that on Jan. 20, 2022, it purchased 39,294 shares of its own common stock.

The shares were taken over at an average price of EUR1.3819 per share for a total value of EUR54,302.26.

Purchases were also made by Brunello Cucinelli, down 0.1 percent. The company reported Monday that it bought back 7,242 of its own ordinary shares during the period from January 16 to January 19, 2023.

The shares were taken over at an average price of EUR69.3792 for a total value of EUR502,444.08.

Juventus FC gives up 1.3 percent after opening up 0.6 percent following the 15-point penalty collected Friday night by the Federcalcio's federal appeals court.

Maire Tecnimont - in the green by 0.5 percent - on Monday announced its expansion, through its subsidiary NextChem Holding, into the markets for high value-added derivatives and biodegradable plastics intermediates with the acquisition of an 83.5 percent stake in Conser, a Rome-based proprietary technology and process engineering company.

Autogrill-flat at EUR6.65 per share-announced Monday evening the resignation of six of the company's directors. In addition, Paolo Roverato announced that he is stepping down as chairman of Autogrill's board of directors, effective upon the appointment of a new chairman by the board.

CIR is up 1.2 percent. On Monday it reported that it purchased 626,538 prorie ordinary shares between Jan. 16 and Jan. 20.

The shares were taken over at an average price per share of EUR0.4306, for a total value of EUR269,769.20.

On the Small-Cap, I Grandi Viaggi is still not trading. Of note, the company reported last week that the board approved the draft financial statements as of October 31, 2022, and reviewed the group's consolidated results between November 1, 2021, and October 31, 2022, reporting a net loss of EUR140,000 from a net loss of EUR1.4 million as of October 31, 2021.

Askoll EVA announced on Monday that it has received a new order from Esprinet - down 0.4 percent - for 500 Askoll ULTRA C90A and 500 Sigma Smart Control Center motors that will be mounted on the new K2 MID e-mountain bike model from Nilox, a brand of the Esprinet Group that is among the best-known and most popular in the outdoor technology market.

Delivery is scheduled by the first half of 2023, with a total value of about EUR245,000.

Among SMEs, Marzocchi Pompe jumps 5.6 percent after sharing some preliminary figures for fiscal year 2022 on Tuesday, reporting consolidated net revenues of EUR48.4 million, up 19 percent from the 2021 figure of EUR40.5 million.

Gismondi 1754 remains in negative territory and trades in the red by 3.5 percent, placing it among the worst performers. On Monday evening the company released its consolidated operating results for the last quarter of 2022, during which the company reported sales of EUR4.4 million, up 10 percent from EUR4.0 million in the 2021 period.

The growth also covers the full year, during which the company generated total revenues of EUR14.0 million up 44 percent from EUR9.7 million in the 2021 period.

Finlogic trades at parity. The company reported Tuesday that as of Dec. 31, 2022, consolidated revenues stood at around EUR69.7 million and registered an increase of EUR18.5 million, or 36 percent, compared to the same period last year when they amounted to EUR51.2 million.

It should be noted that the figure as of December 31, 2022 consolidates the revenues of the two companies acquired in June 2022, which in total amount to about EUR7.1 million. Without the two acquisitions, revenue growth would have stood at 22 percent.

Cofle gives up 2.2 percent. The company announced Tuesday that it had reviewed its as-yet unaudited 2022 revenues of EUR53.7 million, up 3 percent from 2021, when they were EUR52.2 million.

In New York overnight Europe, the Dow Jones closed in the green by 0.8 percent at 33,629.56, the S&P finished up 1.2 percent at 4,019.81, and the Nasdaq finished up 2.0 percent at 11,364.41.

Among currencies, the euro changed hands at USD1.0864 versus USD1.0860 at Monday's close. In contrast, the pound is worth USD1.2315 from USD1.2365 on Monday evening.

Among commodities, Brent crude is worth USD88.09 per barrel from USD88.64 per barrel on Monday evening. Gold, meanwhile, trades at USD1,937.78 an ounce from USD1,922.18 an ounce last session.

On Tuesday's economic calendar, at 1545 CET, focus on the manufacturing and services PMI from the US. The day closes at 2230 CET with weekly oil stocks from the States.

By Chiara Bruschi, Alliance News reporter

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