(Alliance News) - On Tuesday, major European stock markets are expected to be in negative territory on a quiet day on the corporate and macroeconomic front as markets await data on inflation and US GDP in a few days.

Thus, IG futures give the FTSE Mib in the red by 0.1 percent or down 37.5 points, after closing down 0.4 percent at 32,557.81.

Paris' CAC 40 is expected down 0.1 percent or down 10.7 points, Frankfurt's DAX 40 is given in the red 0.1 percent or down 20.3 points, and London's FTSE 100 is expected down 0.2 percent or down 11.3 points.

"But the concerns are not about the strength of U.S. growth, but about the trajectory of inflation. The U.S. economy is expected to have grown 3.3 percent in the fourth quarter -- lower than the 5 percent recorded a quarter earlier, but still very strong growth for an economy that has experienced the most aggressive rate hike cycle in its modern history," commented Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

"In addition, core PCE-which excludes food and energy prices-is expected to rise by a lot in one year. Three- and six-month inflation, both of which have fallen below the Fed's 2 percent target, are also expected to rise above this 2 percent level. A rise in inflation is not good news for Fed doves, who have already abandoned the expectation that the Fed would cut rates by March, and then by May, and are now scaling back expectations of a June cut. The expectation of a Fed cut in June has a probability of about 60 percent before this week's inflation data are released. This probability was around 70 percent just yesterday."

Among the smaller Milanese listings on Monday, the Mid-Cap rose 0.3 percent to 46,128.25, the Small-Cap gained 1.2 percent to 46,128.25, and the Italy Growth rose 0.2 percent to 8,211.13.

On the Mib on Monday, Tenaris rose 0.9 percent after announcing results for the fourth quarter and year ended Dec. 31, a year that ended with a 5 percent increase in revenues on a sequential basis, "supported by a high level of shipments to the Middle East and for offshore pipeline projects," the company wrote in the note.

At the top is Leonardo, up 5.2 percent, followed by BPER Banca and Banco BPM, up 3.1 percent and 1.2 percent, respectively.

At the bottom ends Moncler, down 2.2 percent, after announcing Saturday--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, Ariston Holding--in the red by 0.1 percent--reported that it has finalized an agreement to acquire a production site located in the industrial park of the Oct. 6 municipality near Cairo, Egypt, from Universal Group, a historic Egyptian manufacturing company founded by Youssri Kotb.

Seco topped the list, up 9.3 percent, followed by Ferretti, up 4.5 percent.

At the other end, Philogen gave up 3.6 percent and Salvatore Ferragamo closed down 2.6 percent.

Among smallcaps, Tesmec lost 1.3 percent after reporting preliminary operating data for fiscal 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 is up 4.2 percent after announcing 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 Dec. 31, 2023. The transaction will close by April 2024.

FNM - flat at EUR0.4470 - announced the completion of the closing for the acquisition of 80 percent of the share capital of Viridis Energia, an independent power producer, from Lagi Energia 2006 and HNF, as previously anticipated.

The acquisition was finalized through the payment of EUR80 million.

Compagnia Immobiliare Azionaria gave up 14 percent after opening up 6.7 percent. On Friday, the company informed that it had approved plans to merge CIA into Compagnie Fonciére Du Vin.

Sogefi rose 36 percent after announcing 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.

Antares Vision - in the red by 0.9 percent - reported Friday that its board of directors reviewed preliminary results as of December 31, 2023 reporting full-year revenues of EUR215 million to EUR220 million. Adjusted Ebitda "is expected to be," the company wrote, between EUR13 and EUR15 million.

Among SMEs, Palingeo closed at parity after opening up 4.5 percent. One week after its debut on the Milan Stock Exchange, the stock rose to EUR5.60 from its placement price of EUR5.00.

Generalfinance rose 4.5 percent after reporting that it closed 2023 with a 38 percent increase in profit to EUR15.1 million from EUR10.9 million as of December 31, 2022.

Net interest income in 2023 stood at EUR9.0 million from EUR7.3 million in the previous year.

Net interest and other banking income was EUR36.2 million from EUR30.9 million as of December 31, 2022.

Visibilia Editore--up 50 percent after a full day's stop due to volatility--reported on Friday that Visibilia Concessionaria Srl made a payment of EUR50,000 to Editrice last Feb. 15 in favor of the capital increase up to EUR1 million approved by its subsidiary Visibilia Editrice Srl.

Visibilia Concessionaria had previously indicated its willingness to underwrite part of Visibilia Editore's capital increase up to a maximum of EUR600,000.

In Asia, the Nikkei closed in fractional green at 39,239.52, the Hang Seng is in the green by 0.7 percent at 16,745.25 and the Shanghai Composite gains 1.3 percent to 3,015.48.

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

Among currencies, the euro changed hands at USD1.0858 against USD1.0850 recorded in Monday's European stock close while the pound was worth USD1.2685 from USD1.2678 on Monday evening.

Brent crude is worth USD81.89 per barrel versus USD82.06 per barrel at Monday's close. Gold, meanwhile, trades at USD2,044.15 an ounce from USD2,029.65 an ounce on Monday evening.

Tuesday's calendar features French consumer confidence at 0845 CET and Eurozone money supply and lending to individuals data at 1000 CET. At 1110 CET, eyes on Italy's six-month BOT auction while, at 1200 CET, the focus will be on data on job seekers in France.

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 membersrid of the Federal Reserve are also scheduled.

Among the companies in Piazza Affari, Anima Holding, Banco BPM, Campari, IGD, and MeglioQuesto will release their fiscal year 2023 accounts.

By Claudia Cavaliere, Alliance News reporter

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