(Alliance News) - Major European stock exchanges closed in positive territory Tuesday, marking a performance gap with U.S. indexes that could signal a new trend in global markets, according to Chris Beauchamp, chief analyst at IG.

"Signs of weakening inflation in Germany gave European stocks the boost they were looking for to continue yesterday's positive day, while hopes of a macro recovery helped push the FTSE 100 to a seven-month high. It is certainly too much to extrapolate from a single trading day, but investors' apparent enthusiasm for European stocks over their U.S. cousins marks a big change from pre-pandemic years. Even the ECB's rhetoric about the need for another sharp rate hike does not seem to have deterred investors, which suggests that the 2022 downturn seems to have gone a little too far."

Thus, the FTSE Mib closed up 1.2 percent to 24,436.47, the Mid-Cap gained 1.3 percent to 40,258.38, the Small-Cap rose 0.4 percent to 28,208.69, and Italy Growth finished up 0.5 percent to 9,366.83.

The FTSE 100 closed up 1.4 percent while Paris' CAC 40 rose 0.6 percent and Frankfurt's DAX 40 picked up 0.9 percent.

On the main list of Piazza Affari, which is almost all in the black, Pirelli takes the top spot followed by UniCredit. The former gathers 4.5 percent and the latter closes up 3.1 percent.

Enel picks up 2.8 percent after announcing Friday that Enel Brasil, a subsidiary through Chilean listed company Enel Américas, has finalized the sale of its entire stake in Brazilian power distribution company CELG Distribuição CELG D, amounting to about 99.9 percent of the latter's share capital, to Equatorial Participações e Investimentos, a subsidiary of Equatorial Energia.

Eni rises 2.5 percent after announcing the birth of Eni Sustainable Mobility, the new company dedicated to sustainable mobility.

As Eni explained, it is a vertically integrated company along the entire value chain, which aims to provide progressively decarbonized services and products for the energy transition, accelerating the path to zero emissions throughout their entire life cycle.

The bearish performers are Tenaris, Leonardo, Moncler, Saipem, DiaSorin, Recordati, and Prysmian, marking down between 3.5 percent and 0.1 percent.

On the Mid-Cap, also predominantly bullish, Juventus FC remains in the highs with a plus 8.7 percent.

Webuild marks a decline of 0.6 percent after informing Monday that it purchased in the week of Dec. 28 and 30, 2022 inclusive, 40,500 shares of its own common stock.

The shares were taken over at an average price of EUR1.3837 per share for a total value of EUR56,040.74.

Anima Holding is up 0.4 percent. The company announced Friday that it is continuing its partnership with the Crédit Agricole Italia Group, adapting the previous agreement linking Anima and Credito Valtellinese as necessary.

The revision, as Anima explained in a note, became appropriate following the merger of Credito Valtellinese into Crédit Agricole Italia, effective April 24, 2022.

The agreement maintains its original term through 2027. CAI and Anima intend to preserve the industrial value of the partnership, related to the stability of assets under management.

Zignago Vetro - up 0.8 percent - announced Tuesday that it has lost its Small and Medium Enterprise status as the transitional regime that changed the definition of SME, eliminating the reference to the turnover parameter, has come to an end.

On the Small-Cap side, Trevi Finanziaria Industriale is down 0.8 percent. The company announced Monday that the period for the exercise of option rights relating to the offer to shareholders of up to 79.1 million ordinary shares for a maximum total amount of EUR25.1 million has ended.

During the offer period as a result of the exercise of 110.6 million option rights, 58.0 million shares were subscribed in the offer for a total consideration of EUR18.4 million.

PLC, meanwhile, rises 4.4 percent but Landi Renzo does best of all and takes the top spot with a 5.0 percent gain.

Among SMEs, Neurosoft is still on top with a theoretical rise of 43%.

BetterThis, after closing up 15 percent and opening in the green by 4.1 percent, gives up 8.1 percent. On Friday, it reported that board chairman Jaime Torrents Rotelli bought 18,500 shares of the company's common stock.

Circle picks up 1.1 percent. It announced Monday that it has signed a new contract through the Log@Sea business network to supply advanced Gate Automation solutions to a leading Tyrrhenian multipurpose terminal.

"The order, the value of which exceeds EUR145,000, involves the implementation of a complete project of specialized hardware components and Milos software for the management of gate access control procedures for vehicles and Intermodal Transport Units. The topical moment and market confidence in the solutions behind our Connect 4 Agile Growth plan are confirmed," explained President and CEO, Luca Abatello.

Erfo Pharmaceutical Laboratory deteriorates and gives up 9.3 percent. The company reported Monday that Active Capital Investment, linked to the chairman of the board, purchased 16,000 shares of common stock.

The shares were taken over at an average price per unit of EUR1.871, for a total value of EUR29,936.00.

In New York, the Dow is down 0.6 percent, the Nasdaq gives up 1.3 percent and the S&P 500 drops 0.9 percent.

Among currencies, the euro changes hands at USD1.0545 versus USD1.0668 at Monday's close. In contrast, the pound is worth USD1.1964 from USD1.2051 on Monday evening.

Among commodities, Brent crude is worth USD82.73 a barrel from USD85.91 a barrel last night. Gold, on the other hand, trades at USD1,836.55 an ounce from USD1,823.70 an ounce Monday night.

Wednesday's economic calendar opens in Japan at 0050 CET with data on foreign bond buying and foreign investment in equities.

At 0101 CET, for the United Kingdom, the BRC index of retail prices will be released.

Back in Japan, at 0130 CET, it will be the turn of the manufacturing purchasing managers' index.

In Germany at 0800 CET, the import price index will be released while half an hour later than Switzerland, the consumer price index will be known.

Starting at 0945 CET until 1000 CET, the PMI and the purchasing managers' index for the services sector of France, Italy, Spain-along with the unemployment rate-, Germany, the UK and the Eurozone will be released.

Also in the UK, at 1030 CET, the BoE will release consumer credit, M4 money supply and mortgage data.

Overseas, at 1300 CET, from the U.S., will come data on 30-year mortgages and mortgage applications.

In the afternoon, at 1600 CET, it will be the turn of the ISM manufacturing employment index, sector prices, manufacturing purchasing managers' data and new jobs JOLTs for November.

Among companies listed on the Stock Exchange, no particular announcements are expected.

By Claudia Cavaliere, Alliance News reporter

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