(Alliance News) - The Mib opens just below par, Tuesday, on a busy day from the point of view of financial results as the turmoil caused by the US Silicon Valley Bank collapse on Friday subsides and traders await US inflation data this afternoon.

As a result, the FTSE Mib is 0.1 percent in the red at 26,167.97. Among the smaller lists, the Mid-Cap is up 0.1 percent to 42,295.54, the Small-Cap picks up 0.1 percent to 29,719.82, and Italy Growth is in the green 0.4 percent to 9,303.68.

Paris' CAC 40 is up 0.4 percent, London's FTSE 100 is giving up 0.4 percent and Frankfurt's DAX 40 is in the green by 0.6 percent.

"U.S. CPI data coming out today could reshuffle the Fed's expectations of what will happen next week. Both primary and core inflation are expected to have declined in February but investors are cautious as last month's disappointment could be repeated this month, as the base effect-where we finally start comparing war months to war months-won't be in play until March," commented Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

"But the logic this time may be different than before last week. A CPI figure in line, or ideally weaker than expected, could fuel the expectation of 'no hike' from the Fed while a stronger-than-expected CPI figure might not fuel the expectation of a rate hike as many investors will urge the Fed to stop raising interest rates and be patient about the impact on inflation that might come with a delay," the analyst added.

On the main list of Piazza Affari, Italgas picks up 0.8 percent after announcing Tuesday that it has entered into exclusive negotiations with Veolia Environnement SA group for the potential acquisition of the Veolia group's holdings in some companies active in water service in the regions of Lazio, Campania and Sicily.

The planned transaction is part of the broader strategy outlined in the 2022-2028 strategic plan, which envisages strengthening the group's presence in the water sector.

Assicurazioni Generali rises 1.6 percent and ends on top after presenting accounts Tuesday. Gross premiums increased to EUR81.54 billion or 1.5 percent in 2022 from EUR72.83 billion a year earlier. The non-life segment alone posted a 9.8 percent increase in premiums to EUR28.64 billion.

Mediobanca - up 0.2 percent - on Tuesday successfully concluded the placement of a Senior Preferred Bond with a 5-year maturity - March 2028 - and a call option provided after 4 years for a total amount of EUR750 million.

The Senior Preferred Bond, priced at a level of 4.865 percent, corresponding to MS+137bps, registered orders of more than EUR1.75 billion during the placement.

Intesa Sanpaolo--in fractional red--reported that it purchased--in the period from March 6 to March 10--a total of 80.9 million shares or about 0.4 percent of its share capital.

The average purchase price per share amounted to EUR2.5290, for a total consideration of about EUR204.7 million.

CNH Industrial gives up 0.5 percent. The company announced Monday that it has acquired Augmenta with the aim of accelerating the development of its innovative Sense & Act technology.

Previously, Augmenta was an investment of CNH Industrial Ventures and a strategic partner of CNH Industrial.

Augmenta will operate within the Raven brand by integrating into the precision technology portfolio.

On the Mid-Cap, 2022 results bring Sesa close to the top with a 4.5 percent rise after it announced Monday that it had approved its management report for the first nine months to Jan. 31, reporting adjusted net income in the period of EUR76.5 million from EUR62.2 million in the same period a year earlier and up 23 percent.

Revenues amounted to EUR2.17 billion from EUR1.75 billion as of Jan. 31, 2022, an increase of 24 percent

Same for Tod's, which opens up 3.3 percent after approving the draft financial statements for the year ending December 31, 2022, with a consolidated result of EUR23.1 million and compares with a loss of EUR5.9 million in 2021.

In the fiscal year, Tod's group's consolidated sales amounted to EUR1.00 billion, up 14 percent from FY20212 and about 10 percent higher than the 2019 figure.

De' Longhi opens in the green by 1.2 percent after reporting Monday that it ended 2022 with net income almost halved from the previous year, to EUR177.4 million from EUR311.1 million.

Revenues fell 2.0 percent year-on-year, to EUR3.16 billion from EUR3.22 billion, with the net industrial margin falling to EUR1.49 billion from EUR1.60 billion.

CIR's board of directors -- in the red by 0.5 percent -- on Monday approved the group's draft annual financial statements and consolidated financial statements as of December 31, 2022 the consolidated net result was a loss of EUR200,000 compared to a profit of EUR18.0 million in 2021.

The group's consolidated revenues amounted to EUR2.23 billion, up 14 percent from 2021, with positive dynamics in both business sectors-social health care and automotive components-recovering sharply after two fiscal years heavily impacted by the effects of the Covid-19 pandemic.

Maire Tecnimont advances 0.4 percent. The company announced Monday that it has signed a new EUR150 million loan agreement, 80% of the amount of which is backed by a guarantee granted by SACE Spa, in order to further strengthen the group's financial structure.

The loan will be provided by a pool of leading Italian banks consisting of Banco BPM Spa, MPS Capital Services and Intesa Sanpaolo.

On the Small-Cap, Valsoia opens in the green by 1.0 percent after approving its FY2022 results, which closed with a net profit for the period of nearly EUR8.0 million, up from the previous year by 8.3 percent, when it amounted to EUR7.3 million.

This stands at 7.9 percent of revenues compared to 8.1 percent for the same period in 2021.

The board proposes that the shareholders' meeting allocate about EUR3.9 million to the extraordinary reserve, and a dividend of EUR0.38 per share.

At the top is Gequity, up 5.3 percent while Bialetti ends at the bottom, down 3.6 percent.

Among SMEs, FOS starts down 1.4 percent after announcing that it has approved the merger of Fos Greentech Srl into Technology and Groupware Srl, both wholly owned subsidiaries of the company.

The merger is part of the group's corporate redefinition process, already begun in 2020 with the incorporation of subsidiary Sesmat, aimed at simplifying its structure and better exploiting its operational, administrative and corporate synergies.

High Quality Food still does not trade. The board approved the draft operating and consolidated financial statements for the year ended Dec. 31, 2022, with a profit of EUR367,000 compared to the annual result of minus EUR1.0 million as of Dec. 31, 2021.

Among Asian exchanges, the Nikkei closed down 2.2 percent, the Shanghai Composite down 0.7 percent while the Hang Seng finished down 2.3 percent.

In New York on European night, the Dow closed down 0.3 percent, the Nasdaq up 0.5 percent while the S&P 500 contracted 0.2 percent.

Among currencies, the euro changed hands at USD1.0688 against USD1.073 at Monday's close. In contrast, the pound is worth USD1.2148 from USD1.2155 on Monday evening.

Among commodities, Brent crude is worth USD79.61 per barrel versus USD81.06 per barrel on Monday evening. Gold, on the other hand, trades at USD1,904.42 an ounce from USD1,906.38 an ounce at Monday's close.

On Tuesday's economic calendar, at 1000 CET it is the turn of Italian industrial production, and, also from Italy, at 1110 CET is the auction of BTPs with three- and seven-year maturities.

At 1330 CET from the US comes the CPI, at 2130 CET weekly oil stocks, and, at 2220 CET, FOMC member Bowman's speech.

In the rich corporate calendar, coming up, among many, are the results of Biesse, Cembre, Culti, MARR, Orsero, Saipem, Sanlorenzo, Servizi Italia, and Unidata.

By Chiara Bruschi, Alliance News reporter

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