(Alliance News) - Major European stock markets opened higher on Tuesday, with forecasts for the new year overshadowed by statements from the International Monetary Fund.

"The IMF predicts that one-third of the world economy will be in recession this year as the United States, the EU and China slow down. The good news for the U.S. is that Americans could avoid recession, but the bad news for Europeans is that the EU is unlikely to be so lucky," commented Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank.

The FTSE Mib, therefore, opens in the green by 0.8 percent at 24,350.14.

In Europe, London's FTSE 100 starts the year up 2.0 percent, Paris' CAC 40 is in the green by 0.6 percent, and Frankfurt's DAX 40 is up 0.8 percent.

No better news comes from China, with China's Caixin manufacturing PMI falling the most in 3 months, to 49 in December from 49.4. It was slightly better than expected, but it was the fifth consecutive month of decline in Chinese factory activity. Production, new orders and export sales all fell. Employment declined for the ninth month and there was no sign of recovery.

China, for Ozkardeskaya, will also face a "difficult year," with "the sudden U-turn from Covid zero policy that will not be enough to revive growth."

Among Italy's smaller lists, the Mid-Cap opens up 0.8 percent to 40,077.33, the Small-Cap is in the green 0.1 percent to 28,140.49, and Italy Growth is up 0.2 percent to 9,345.06.

On the main list in Piazza Affari, Pirelli is on top with a plus 1.9%.

Also doing well is Saipem, which after a 5.0% rise on eve gathers 1.8% and ranks second.

Eni rises 1.3% 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.

Eni Sustainable Mobility will develop biorefining, biomethane and the sale of mobility products, services and solutions, in Italy and abroad, on a path that will see it evolve into a multi-service and multi-energy company. The company includes biorefining and biomethane assets, which include the Venice and Gela biorefineries and the development of new projects such as Livorno and Pengerang, in Malaysia, which are now being evaluated.

Enel picks up 0.5 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.

Among the few bearish, Terna and Hera give up 0.6 percent, Italgas loses 0.4 percent, and Snam opens down 0.2 percent.

On the Mid-Cap, Juventus FC does best of all with a 2.5 percent rise.

Webuild opens up 0.7 percent after informing Monday that it purchased in the week of Dec. 28 and Dec. 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 0.9 percent. The company announced Friday that it is continuing its partnership with the Crédit Agricole Italia Group, adapting as necessary the previous agreement linking Anima and Credito Valtellinese.

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.

On the Small-Cap, Eems picks up 2.3 percent. Beghelli also did well, in the green by 4.3 percent.

Trevi Finanziaria Industriale, however, is down 0.3 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 offering period as a result of the exercise of 110.6 million option rights, 58.0 million shares were subscribed in the offering for a total consideration of EEUR18.4 million.

Among SMEs, Neurosoft opens with a theoretical rise of 43 percent.

Also doing well is MeglioQuesto, which, after closing up 15 percent, opens in the green by 4.1 percent. On Friday, it reported that board chairman Jaime Torrents Rotelli bought 18,500 shares of the company's common stock.

Circle opens up 0.8 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 begins the day in the red by 2.3 percent. The company reported Monday that Active Capital Investment, linked to the chairman of the board, bought 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 Asia, with Tokyo still closed for holidays, the Shanghai Composite finished in the green by 0.9 percent at 3,116.51 and the Hang Seng closed up 1.8 percent at 20,145.29.

Among currencies, the euro changed hands at USD1.0562 versus USD1.0668 at Monday's close. In contrast, the pound is worth USD1.19345 from USD1.2051 on Monday evening.

Among commodities, Brent crude is worth USD86.30 per barrel from USD85.91 per barrel last night. Gold, on the other hand, trades at USD1,847.96 an ounce from USD1,823.70 an ounce Monday night.

On Tuesday's macroeconomic calendar, the UK manufacturing PMI is expected at 1030 CET.

The same indicator will come for the US at 1545 CET, anticipated at 1400 CET by Germany's inflation.

On the bond front, three- and six-month T-Note auctions will be held at 1730 CET.

Among the companies in the Piazza Affari, no particular events are planned.

By Chiara Bruschi, Alliance News reporter

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