(Alliance News) - European stock markets remain above parity at mid-session on Tuesday, with Campari's stock pushing the Mib, buoyed by its newly disclosed 2023 results.

The FTSE Mib then rises 0.2 percent to 32,635.59, the Mid-Cap gives up 0.5 percent to 45,905.81, the Small-Cap is in the red 0.1 percent to 28,257.70, and Italy Growth retreats 0.1 percent to 8,202.35.

Paris' CAC 40 is in fractional green at 7,930.66, Frankfurt's DAX 40 gains 0.5 percent to 17,504.98 while London's FTSE 100 is just above par at 7,685.13.

On the Mib, Campari takes the top spot with a 6.4 percent rise after announcing net income of EUR332.5 million for 2023, up slightly from EUR3315 million in 2022. Revenues rise to EUR2.91 billion from EUR2.69 billion in 2022.

STMicroelectronics, ERG, and Ferrari follow, advancing 1.9 percent, 1.6 percent, and 1.5 percent, respectively.

Weighing down the list are banking and insurance stocks, with Banca Generali dropping 1.7 percent and doing worse than everyone else. Also in the red are FinecoBank, Assicurazioni Generali, Unipol, Mediobanca, and Banco BPM, among others, all with declines between 1.3% and 0.6%.

Prysmian rises 0.1 percent. On Tuesday it announced that it had finalized the contract for the order worth about EUR1.9 billion awarded by Eastern Green Link 2 Limited, a joint venture between SSEN Transmission and National Grid Electricity Transmission PLC, owners of the electric transmission systems in the UK.

Edison Rsp - up 2.8 percent - and Snam - up 0.4 percent - announced the start of exclusive negotiations for the purchase and sale of 100 percent of Edison Storage.

The exclusivity follows the competitive process launched last October by Edison to enhance the subsidiary's value, the company explained in a note.

Moncler recovers after closing down 2.2 percent and now gains 0.8 percent. On Saturday it disclosed--on behalf of Double R, Ruffini Partecipazioni Holding, and Grinta--that the latter, a Rivetti family vehicle, has served notice of withdrawal from Double R.

Grinta holds a stake of about 16.473 percent in Double R, while Double R in turn holds about 23.721 percent of Moncler's share capital.

For the purposes of the withdrawal, the joint note says, Double R will assign to Grinta a number of Moncler ordinary shares "coinciding in transparency with the Moncler shares to which it is entitled." The Rivetti family will, therefore, own through Grinta its investment in Moncler shares.

On the Mid-Cap, Tinexta did well, advancing 1.9% followed by Gruppo MutuiOnline and Salvatore Ferragamo, up 1.4% and 1.3%.

At the other end of the list, Technogym is 4.0% in the red and Seco loses 2.6%.

Maire Tecnimont - flat at EUR5.13 per share - on Monday evening reported that NextChem through its nitrogen technology licensor Stamicarbon has been awarded a license and equipment supply contract for a state-of-the-art urea synthesis and granulation plant in Egypt on behalf of the El-Nasr Company for Intermediate Chemicals.

Ariston Holding--green by 1.0 percent--reported that it has finalized an agreement to acquire a production site located in the Oct. 6 Municipality Industrial Park near Cairo, Egypt, from Universal Group, a historic Egyptian manufacturing company founded by Youssri Kotb.

PharmaNutra is in the red by 1.3 percent after reporting Monday that the board approved plans to merge Junia Pharmae Alesco into PharmaNutra.

The two companies are wholly owned subsidiaries of PharmaNutra.

Among smallcaps, Eurotech and Softlab occupy the top positions with rises of 6.5 percent and 3.5 percent, respectively.

Mondo TV, up 0.2 percent, announced Monday that it has signed a new agreement with Warner Bros. Discovery to license in Italy the animated series Maca&Roni, produced by the Korean Acommz and aired on the K2 group's kids channel.

Tesmec is down 1.1 percent after reporting preliminary operating data for fiscal year 2023 and letting it know that it revised its closing estimate due to a slowdown in Trencher business.

Preliminary revenues then came in the EUR252-258 million range compared to EUR245.2 million as of Dec. 31, 2022, and against the forecast of expected revenues in the EUR270-280 million range.

IGD gives up 1.3 percent after announcing on Friday that it has signed an agreement with Sixth Street and subsidiaries of Starwood Capital and Prelios SGR, among the leading real estate management and services companies in Italy, to sell a portfolio consisting of 13 assets, valued at EUR258 million, broadly in line with the book value as of December 31, 2023. The transaction will close by April 2024.

Sogefi is in the red by 0.4 percent after closing in the green by 36 percent. It reported Friday that it closed 2023 with a profit of EUR57.8 million, up 95 percent from EUR29.6 million in 2022.

Consolidated revenues grew 5.5 percent to EUR1.62 billion from EUR1.54 billion in 2022. Ebitda of EUR221.4 million increased 14 percent from EUR195.1 million, with an Ebitda margin of 13.6 percent from 12.6 percent, driven by growth in volumes and contribution margin.

Among SMEs, Almawave leads the list with a 7.3% rise.

Digital Magics is up 0.5 percent and LVenture Group advances 2.0 percent. The companies released their preliminary 2023 results in a joint statement on Monday, following the approval by their respective shareholders' meetings last December of the merger of Digital Magics into LVenture.

Digital Magics ended 2023 with a loss of between EUR5.5 million and EUR5.1 million, compared to a loss of EUR1.2 million in 2022. LVenture Group, on the other hand, as shown in its preliminary results approved on January 12, closed 2023 with a loss between EUR3.2 million and EUR2.9 million.

Marzocchi Pompe--up 0.5 percent--reported Monday that it had finalized the purchase of a new plant for an amount of about EUR1.0 million, thus taking "another step in its strategic plan to enlarge the Zola Predosa complex."

Circle gives up 0.8 percent. The company announced Monday that it has won a EUR400,000 contract through its subsidiary Magellan Circle.

The Across project is funded by the European Defense Fund with a total budget of about EUR14.5 million and is to develop revolutionary technologies and solutions for adaptive camouflage.

Omer gives up 7.5 percent after reporting Monday that it ended 2023 with a value of production of EUR66.8 million, up 6 percent from EUR63.3 million in 2022.

This increase was mainly driven by growth in production volumes at parent company Omer.

In New York on Monday, the Dow Jones closed 0.2 percent in the red at 39,069.23, the S&P finished down 0.4 percent at 5,069.53, and the Nasdaq closed down 0.1 percent at 15,976.25.

Among currencies, the euro changed hands at USD1.0859 against USD1.0850 recorded in Monday's European stock close while the pound was worth USD1.2688 from USD1.2678 on Monday evening.

Brent crude is worth USD82.76 per barrel versus USD82.06 per barrel at Monday's close. Gold, meanwhile, trades at USD2,037.46 an ounce from USD2,029.65 an ounce on Monday evening.

Tuesday's calendar features data on job seekers in France at 1200 CET.

Durable goods orders at 1430 CET and house prices at 1500 CET will be the main catalysts as far as the U.S. is concerned, where speeches by several Federal Reserve members are also scheduled.

By Chiara Bruschi, Alliance News reporter

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