(Alliance News) - European stock markets moved in a bearish trend Tuesday, with investors weighing aggressive comments from two members of the U.S. Federal Reserve.

Atlanta Fed President Bostic said a quarter-point increase should proceed "more seriously and move in that direction" if U.S. CPI data confirm that inflation has begun to slow, while San Francisco Fed President Mary Daly said rate increases of 25 and 50 basis points are "on the table."

In Japan, the core inflation rate rose more than expected to 4 percent, exceeding the central bank's 2 percent target for the seventh consecutive month. Investors are now preparing for key speeches by Fed Chair Jerome Powell and ECB board member Isabel Schnabel scheduled for later in the day.

"Fedspeak so far this year has mostly reiterated Chairman Powell's hawkish messages from the December meeting. Weighing on U.S. equity sentiment overnight, officials continued to push back against any thoughts of premature cuts this year, in an attempt to tighten financial conditions or send stocks lower, if possible," commented SPI Asset Management analyst Stephen Innes.

Thus, the FTSE Mib retreats 0.2 percent to 25,342.89.

Among the smaller listings, the Mid-Cap gives up 0.4 percent to 41,469.64, the Small-Cap gives up 0.1 percent to 28,843.84, and Italy Growth is tied at 9,456.03.

The FTSE 100 is down 0.3 percent, the CAC 40 in Paris gives up 0.3 percent as does the DAX 40 in Frankfurt.

On the main list in Piazza Affari, Nexi gives up 1.9 percent. As stated in article in Starmag magazine, "after the scam against Poste Italiane account holders, accounts of scams on Nexi customers are increasing on the web. A text message extorts data and money from the unwary. And victims are suing the Italian PayTech directly." The first hearing in a class action brought by a group of those scammed by hackers will be held in February.

STMicroelectronics, on the other hand, gives up 1.4 percent, breaking a six-session bullish trend.

Ferrari, on the other hand, gives up 0.7 percent. On the stock, it is reported that Goldman Sachs raised its target price to EUR182.00 from EUR181.00.

Among the few bullish performers, good cue from Erg, which rises 1.8 percent after eve's loss of 1.6 percent.

On the cadet segment, De'Longhi gives up 2.9%, while Dovalue retreats 2.3%.

Raised target price for Brunello Cucinelli by Societe Generale, which raises it to EUR61.00 from EUR49.00. The stock marks a decline of 2.3 percent.

SOL, on the other hand, rises 1.7 percent. It is worth mentioning that on the stock Berenberg started hedging with fair value at EUR24.40.

Sesa - down 0.6 percent - on Tuesday announced that it has signed an industrial partnership agreement, through its subsidiary Var Group Spa, to acquire a majority stake in Amaeco Srl, thus consolidating its digitalization and sustainability expertise to support the

Made in Italy's digital evolution needs.

Amaeco, based in Fiorano Modenese and employing about 15 human resources, operates in the development and design of energy monitoring systems and eco-sustainability performance through proprietary software solutions with a focus on the enterprise market and expected revenues in the year 2023 of about EUR1.5 million, with an Ebitda margin of about 20 percent and important growth prospects.

On the SmallCap, Eukedos rises 5.2 percent, taking the lead.

LVenture, on the other hand, gives up 5.4 percent, placing it at the tail end of the list, while Restart retreats 3.2 percent.

Among SMEs, Comal rises 4.4 percent to EUR2.86 with a trading volume side marking 76,000 compared to a three-month daily average of around 25,000.

Omer -- up 3.7 percent to EUR2.80 per share -- on Tuesday reported that it has signed a contract with the Alstom group to supply various interiors components for the "Line B Réseau Express Régional" project in Paris.

Among Asian exchanges, the Hang Seng gave up 0.3 percent, the Shanghai Composite gave up 0.2 percent, and the Nikkei picked up 0.8 percent.

Among currencies, the euro changed hands at USD1.0732 versus USD1.0748 at Monday's close. In contrast, the pound is worth USD1.2157 from USD1.2198 on Monday evening.

Among commodities, Brent crude is worth USD79.31 a barrel from USD80.03 a barrel last night. Gold, meanwhile, trades at USD1,872.45 an ounce from USD1,880.45 an ounce last night.

On Tuesday's economic calendar, at 0900 CET, Spain will release the country's industrial production.

Overseas, at 1200 CET, it is the turn of the U.S. small business optimism report.

At 1400 CET, again in Spain, the consumer confidence index will be released.

At 1500 CET, in the United States, Fed Chairman Powell's speech is expected.

Among companies listed on the Stock Exchange, no particular announcements are expected.

By Maurizio Carta, Alliance News reporter

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