(Alliance News) - Major European stock markets are continuing the bullish path they have been on since the bell rang. The Milanese index is no exception, taking the point bar above 27,800 and approaching the 14-month highs tested last week. Dragging the lists are banking stocks, with the Milanese segment rising 1.6 percent, outperforming the Mib and putting nearly 24 percent on the chopping block since the start of 2023.

Dragging the trading rooms on the buying side-among other things-economic data from China. The world's second-largest economy grew 4.5 percent in the first quarter, accelerating from the previous reading of 2.9 percent and easily beating forecasts for 4 percent growth.

Thus, the FTSE Mib advanced 0.5 percent to 27,834.59 and taking the 2023 surplus back to over 17 percent.

Among the smaller listings, the Mid-Cap advances 0.3% to 44,062.91, the Small-Cap is up 0.3% to 30,071.95, and Italy Growth picks up 0.1% to 9,341.39.

In Europe, London's FTSE 100 rises 0.2 percent, Frankfurt's DAX 40 advances 0.3 percent and Paris' CAC scores a plus 0.4 percent.

On the main list in Piazza Affari, good buying on Iveco, leading the stock to soar 2.7% green with price at EUR8.45, following up on the previous two bullish sessions.

Banca Monte dei Paschi, which advances with 2.1% with price at EUR2.15. The Sienese bank on the weekly frame brings assets into double digits, slightly exceeding 10%.

It does even better UniCredit, which advances with 2.1 percent and brings the price bar to EUR19.43. The company announced Tuesday that it bought back 10.9 million of its own ordinary shares between April 11 and 14. The shares were taken over at an average unit price of EUR18.7129, for a total value of EUR203.8 million.

BPER Banca, on the other hand, advances 2.6 percent, pointing its snout toward the third session to end on the bullish side. The banking group brings its assets since the beginning of the year to nearly 35 percent.

On the negative note - the list's minority - ERG and Saipem, on the other hand, are stepping back 1.9 percent placing themselves at the tail end of the list.

On the Mid-Cap, illimity Bank is advancing well, taking the price to EUR6.78 thanks to a 1.6 percent rise. Citadel Advisors on Monday revised its short position to 0.51% from 0.49% previously.

Banca Popolare di Sondrio did even better, posting a plus 1.7 percent, allowing it to soar in the cadet list. Cassa Depositi e Prestiti announced Monday that it has financed the bank with EUR150 million to help Italian companies grow.

Banca Ifis, on the other hand, advances 1.6 percent, after 0.5 percent on the eve.

Webuild -- in the money with 1.1.% -- announced Tuesday that its U.S. joint venture subsidiary Lane has been selected preferred bidder to exclusively carry out the study that will define the implementation of the project, to date estimated at USD1 billion in total value, for the modernization of "Tampa's Westshore Interchange."

Among the few bearish performers, Saras instead gives up 1.5 percent to EUR1.2655, following up the previous two sessions on the bearish side.

On the small-cap segment, Eukedos advances 6.7 percent, rebounding after falling more than 14 percent in the past two sessions.

The top of the list, however, is for Autostrade Meridionali, which advancing by nearly 11 percent sets the new price at EUR23.80 per share. There is a high trading volume of over 197,000 on the stock, compared to the three-month daily average of about 59,000 pieces.

In the bearish group - a minority on this list as well - Enervit takes a step back 1.9 percent with price at EUR3.14 after a 1.3 percent gain on the eve of the day.

The tail of the list, however, is occupied by Bioera, which marking a minus 6.2% fix brings the price to EUR0.1060.

Among SMEs, the high quarters see Datrix, which advances with 2.3 percent after three sessions in which selling prevailed.

Also advancing well is expert.ai, up 4.6 percent and boasting more than 11 percent on a weekly basis.

Svas Biosana, on the other hand, is flat, with price firm at EUR9.08. Analysts at Banca Profilo Spa have placed the target price of Svas Biosana Spa under revision, leaving the 'buy' recommendation on the stock unchanged, following the 2022 accounts published by the company in recent days. "Considering the results that overall exceeded those of 2021, we confirm our 'buy' recommendation but revise our 12-month target price to refine our estimates and include our view on the path of interest rates in the DCF model," reads the report on the stock.

In New York overnight Europe, the Dow Jones rallied 0.3 percent, as did the S&P and Nasdaq.

Among currencies, the euro changed hands at USD1.0964 versus USD1.0915 at Monday's close. By contrast, the pound is worth USD1.2423 from USD1.2359 last night.

Among commodities, Brent crude is worth USD84.80 per barrel versus USD84.98 per barrel on Monday evening. Gold, meanwhile, trades at USD2,000.49 an ounce from USD1,990.12 an ounce at yesterday's close.

On Tuesday's economic calendar, in the afternoon, from the U.S. coming in building permits while from Canada, the index of major consumer prices.

At 1800 CEST, meanwhile, UK labor productivity data are expected.

By Maurizio Carta, Alliance News reporter

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