(Alliance News) - On Tuesday, the Mib Index closed higher, moving above 27,100 Tuesday, with trading rooms "scouring" both economic and corporate data, with companies gradually releasing results.

Meanwhile, the focus has been on several speeches by senior ECB officials and Fed Chairman Jerome Powell at the Economic Club in Washington D.C. throughout the day, particularly with the number one Eccles Building likely to provide important insights into the direction of the Federal Reserve's monetary policy.

As for Frankfurt, the latest figure shows how the Eurotower's total assets now amount to EUR7.875 trillion, a decrease of about EUR18.62 trillion from the previous week.

In contrast, on the possible path of the Federal Reserve, in the CME Group platform's FedWatch Tool - using futures also based on the actual federal funds rate or EFFR - the main rate hike for the March 22 meeting has a 94 percent probability of confirmation on the current range of 475/500 bps. In contrast, the probability of an increase in the 500/525 bps area is at 6%. The current target is between 450 and 475 bps.

Thus, the FTSE Mib closed in the green by 0.4 percent at 27,118.74.

In Europe, Paris' CAC 40 closed in the red by 0.1 percent, London's FTSE 100 up 0.4 percent, %, while Frankfurt's DAX 40 closed in the red by 0.2 percent.

Among Italy's smaller listings, then, the Mid-Cap closed in the red 0.2% to 44,459.38, the Small-Cap up 0.4% to 30,210.00, while Italy Growth closed in the green 0.7% to 9,963.83.

On the Mib, Saipem closed as the best on the list by closing up 5.2%, reflecting a good session for the oil sector.

As Francesco Bonazzi points out on Alliance News, "with oil up, Piazza Affari today rewards oil and energy infrastructure stocks. But there is also great attention to how the Mattei Plan is progressing, a plan that is about to enter the PNRR and be the main economic policy dossier of the government led by Giorgia Meloni."

Eni - parent of Saipem - closed up 1.5 percent, while Tenaris rallied 0.8 percent.

Also seen in the highs was Telecom Italia, which moved ahead 2.3 percent. The company informed Monday at Consob's request that, in relation to press reports about the non-binding offer on TIM's fixed infrastructure submitted by KKR, unless otherwise agreed between the parties, the offer has a duration of 4 weeks from the date of sending - last Feb. 1 - and TIM's board of directors will meet on Feb. 24 to discuss it and make a decision, thus before the offer's duration deadline.

Intesa Sanpaolo - up 0.9 percent - announced that the EUR1.70 billion buyback plan will be kicked off on February 13, for a number of shares not exceeding 1.63 billion.

FinecoBank -- up 1.7 percent -- announced Tuesday that it had approved its results as of Dec. 31, 2022, reporting a record net profit of EUR428.8 million from EUR349.2 million in the same period last year and an increase of 23 percent. The board of directors approved the proposed distribution of a unit dividend of EUR0.49 per share.

Among the minority of the bearish, Amplifon does worse than all, giving up 2.5 percent, the subject of profit-taking after four bullish sessions.

On the Mid-Cap, a bullish session for Seco, which advances 4.9%, rearing its head after two bearish sessions.

In tow on the good form of the oil segment, Saras rises 2.9 percent, reversing course after a three-session bearish mini-trend.

The board of directors of Banca Popolare di Sondrio -- flat at EUR4.56 -- on Tuesday approved the preliminary consolidated economic and financial results for fiscal year 2022, which ended with a net profit of EUR251.3 million, down from EUR268.6 million a year earlier. The bank also confirmed the payout ratio of just under 50 percent, as per the business plan.

Sesa trades in the red by 1.3 percent, after announcing Tuesday that it has acquired through its subsidiary Var Group a majority stake in Assist Informatica, thus consolidating its expertise in software solutions for the agribusiness segment.

Alerion, on the other hand, gives up 2.7 percent to EUR32.00. The company-which is continuing its buyback plan-most recently announced that it has purchased its own ordinary shares for a total value of about EUR238,000.

On the Small-Cap, Tesmec rose 9.4 percent. The stock marks high trading volume, with more than 30 million pieces changed hands compared to a three-month daily average of 2.6 million.

algoWatt appreciates 5.9 percent. The company reported Tuesday that it was awarded a grant of about EUR500,000 for digital energy solution provider and system integrator activities on the Masterpiece project - Multidisciplinary approaches and software technologies for engagement, recruitment and participation in innovative energy communities in Europe - funded under the Horizon Europe program.

Also doing well was d'Amico, which stretched 4.4 percent, closing on the bullish side for the third time in a row.

Servizi Italia closed 1.4 percent in the red, profit taking after three bullish sessions.

Beghelli, on the other hand, gave up 2.6 percent, after eve's gain of 1.2 percent.

Among SMEs, expert.ai advanced more than 23%, taking the price to EUR0.7440.

Arterra, on the other hand, advances 6.6 percent, after eve's 2.0 percent loss.

Growens, on the other hand, gives up 2.5%. On Friday, the board approved the signing of a binding agreement to sell Growens' MailUp business unit and its holdings in Contactlab, Acumbamail, MailUp Nordics and its subsidiary Globase International to TeamSystem for a total consideration of EUR70 million on a cash/debt free basis.

Take Off - in a 4.1 percent letter - on Tuesday informed that it had received notice from shareholder AcomeA SGR that it had exceeded the 5 percent shareholding materiality threshold. AcomeA SGR thus declared that it holds a stake in the company of more than 1.45 million shares, or 9.30 percent of the share capital.

In New York, the Dow Jones is giving up 0.1 percent, the S&P is in the green by 0.1 percent, and the Nasdaq closed up 0.4 percent.

Among currencies, the euro changed hands at USD1.0704 against USD1.0724 at Monday's close. By contrast, the pound is worth USD1.2018 from USD1.2011 on Monday evening.

Among commodities, Brent crude is worth USD83.40 per barrel versus USD80.36 per barrel on Monday evening. Gold, on the other hand, trades at USD1,876.10 an ounce from USD1,868.44 an ounce at Monday's close.

On Wednesday's macroeconomic calendar, at 1000 CET, will come Italian retail sales.

At 1300 CET, space will be given to the 30-year mortgage rate from the U.S., while at 1630 CET, the crude oil inventory figure, the Cushing inventory figure, and the EIA weekly stocks figure will be released.

At 1945 CET, a speech will be given by Federal Reserve's Waller.

Among the companies in the Piazza Affari, the results of Banca Mediolanum, BPER Banca, Cementir Holding and FOS are expected.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.