(Alliance News) - Major European marketplaces open lower on Tuesday as traders await Jerome Powell's statements this evening, which could give further indications on the directions the Fed will take in fighting inflation.

Thus, the FTSE Mib, opens in the fractional red at 27,936.77, the Mid-Cap gives up 0.2 percent to 45,054.29, the Small-Cap advances 0.2 percent to 30,575.22, while Italy Growth rises 0.1 percent to 9,516.51.

In Europe, London's FTSE 100 is in the fractional red, Paris' CAC 40 retreats 0.3 percent while Frankfurt's DAX 40 is down 0.1 percent.

Meanwhile, orders to German factories saw a slowdown in the pace of monthly growth in January, Destatis reported Tuesday.

Factory orders in Germany rose 1.0 percent month-on-month in January after an upwardly revised 3.4 percent increase in December and exceeding market forecasts of a 0.9 percent decline.

In Asia, China's trade surplus increased to USD116.88 billion in January-February 2023 from USD109.7 billion in the same period a year earlier, according to data released Tuesday by the General Administration of Customs.

The figure is well above market forecasts of USD81.8 billion as exports fell 6.8 percent year-on-year while imports declined at a faster pace of 10.2 percent amid a slowing global economy and weak domestic demand.

On the main list, Nexi starts on top with 2.9 percent after approving on Monday its consolidated financial results as of December 31, 2022, reporting revenues of EUR3.26 billion and up 7.1 percent from EUR1.61 billion in 2021.

Net income amounted to EUR693.2 million, up 15 percent from EUR602.4 million in 2021.

Banco BPM - up 0.6 percent - reported that it purchased 2.4 million of its own ordinary shares between February 28 and March 6.

The shares were taken over at an average unit price of EUR4.13, for a total value of about EUR10.0 million.

Intesa Sanpaolo rises 1.3 percent after reporting Monday that it purchased 63.6 million of its own ordinary shares between Feb. 27 and March 3.

The shares were taken over at an average unit price of EUR2.5455, for a total value of EUR162.0 million.

On the Mid-Cap, Anima Holding - in the red by 0.1 percent - reported Monday that net inflows from assets under management in February 2023 were positive by EUR383 million, with a negative assets under management component of EUR90 million and one related to class I insurance proxies positive by EUR373 million.

CIR starts in the red by 0.6 percent after announcing Monday that it purchased 1.2 million of its own ordinary shares between February 27 and March 3.

The shares were taken over at an average unit price of EUR0.4324, for a total value of EUR521,206.19.

Juventus FC is among the best performers, up 1.2 percent.

On the Small-Cap, TXT e-solutions - in the green by 1.8 percent - announced on Monday that it had been awarded Lot 2 of the open-process tender for the procurement of cloud application services and demand and pmo services for central public administrations.

At the top is Mondo Tv, up 3.1 percent, followed by Sole 24 Ore, which opens with a theoretical rise of 3.1 percent.

PLC still not trading. The company reported that PLC System, a group company, has signed a contract with Cantieri Italiani Srl for the turnkey construction of a utility substation-including supplies related to high and medium voltage cable ducts and the construction of the sorting cabins-serviced by two photovoltaic plants located in Augusta, Syracuse province, with a capacity of more than 100 MW.

Among the SMEs, the board of Health Italia - up 1.4 percent - on Monday reviewed consolidated revenues as of December 31, 2022, which amounted to EUR42.5 million, up 4.8 percent from EUR40.5 million in the same period last year.

TMP Group is not yet trading. The company reported Monday that the board of directors reviewed the unaudited consolidated production value as of December 31, 2022, which came in at EUR6.5 million, up 14 percent from EUR5.7 million pro forma in 2021.

GPI announced Monday that the temporary grouping of companies it leads won the tender aimed at implementing telemedicine processes in Friuli Venezia Giulia.

The four-year contract is worth about EUR2.1 million, with GPI's share being about EUR1 million, and involves the delivery of a telemedicine software platform capable of responding to the care needs of citizens by involving doctors and other healthcare personnel throughout the Friuli Venezia Giulia regional territory.

ESI opens 6.6 percent in the red after announcing Monday that its board of directors has approved a capital increase for a total maximum amount of EUR3.5 million by issuing ordinary shares to be offered under option to shareholders.

Among Asian exchanges, the Hang Seng closed 0.3 percent in the red, the Nikkei rallied 0.3 percent, and the Shanghai Composite gave up 1.1 percent.

In New York on European night, the Dow rose 0.1 percent to 33,431.44, the Nasdaq gave up 0.1 percent to 11,675.74, while the S&P 500 closed in the green 0.1 percent to 4,048.42.

Among currencies, the euro changed hands at USD1.0672 versus USD1.0677 at Monday's close. In contrast, the pound is worth USD1.2018 from USD1.2031 on Monday evening.

Among commodities, Brent crude is worth USD86.19 per barrel versus USD85.93 per barrel on Monday evening. Gold, on the other hand, trades at USD1,846.96 an ounce from USD1,850.70 an ounce at Monday's close.

On Tuesday's calendar, at 1600 CET, there will be a congressional hearing of Federal Reserve Governor Jerome Powell, while at 2230 CET weekly oil stocks data will be due.

Among companies in Piazza Affari, results from Ascopiave, Banca Mediolanum, Caltagirone Editore, Fincantieri, Matica Fintec, and Visibilia Editore are expected.

By Chiara Bruschi, Alliance News reporter

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