(Alliance News) - The Piazza Affari indexes opened up in the second session of the week, still lacking in macro data but with traders looking ahead to Jackson Hole and tomorrow's PMIs before making moves from their desks.

The FTSE Mib opened Tuesday up 0.6 percent to 28,160.02, the Mid-Cap is up 0.3 percent to 28,160.02, the Small-Cap gains 0.4 percent to 26,862.95, and Italy Growth rises 0.3 percent to 8,868.45.

In Europe, London's FTSE 100 rises 0.1 percent to 7,263.67, Paris' CAC 40 is up 0.6 percent to 7,238.61 and Frankfurt's DAX 40 is up 0.7 percent to 15,716.23.

On the blue chip list, Prysmian starts immediately up, up 4.0% shortly after announcing that it has been selected by TSO Amprion, one of Europe's leading transmission system operators, as preferred bidder for the two offshore grid connection systems BalWin1 and BalWin2 and the DC34 onshore cable project.

The preferred bidder agreement includes an obligation for the parties to negotiate in good faith the yet-to-be-defined points of the projects, with the goal of entering into final contracts by January 15, 2024. Prysmian has committed to reserve the required production and installation capacity until that date. The contracts have a total value of about EUR4.5 billion.

These three projects are part of Germany's overall plan to install 70 GW of offshore wind power by 2045 and will allow power generated in the North Sea to be transmitted to consumers in the country's western and southern regions.

In a bullish-prevailing list--except for Telecom Italia and Tenaris, down 0.5 percent and 0.4 percent, respectively--STMicroelectronics is up 1.6 percent and doing better than Enel, up 1.1 percent.

On the buyback front, Iveco rises 1.0% after buying back EUR1.1 million worth of its own shares; UniCredit gains 0.4% after buybacks of EUR78.1 million; and Inwit marks a 0.1% rise after taking back EUR3 million worth of its own shares.

On the Mid-Cap, Sesa leads the list with a 1.9 percent rise, followed by Piaggio, up 1.4 percent and grappling with the appointment of a new chairman and CEO after the passing of Roberto Colaninno late last week.

The most traded, however, are the A shares of MFE-MediaForEurope, up 230,000, but down 1.0 percent, and those of Juventus FC, up 0.5 percent and with 196,000 shares changing hands.

Among the lower-capitalization companies, SS Lazio rises 2.1 percent after closing some market transactions that overshadowed its debut league defeat at home to Lecce.

Bioera gains 1.0 percent after reporting that, at the request of Golden Eagle Capital Advisors, five convertible bonds that were part of the first tranche of the convertible bond cum warrant subscribed by the investor were subject to conversion.

The first tranche of the POC consisted of 50 convertible bonds with a total value of EUR500,000, and following the conversion, two bonds within the first tranche still remain to be converted.

Doing best of all at the start is Compagnia Immobiliare Azionaria, up 5.9 percent and with 27,000 shares changing hands since the bell rang.

Among Milan-listed SMEs, Visibilia Editore leads the list, up 21 percent, doing even better than Notorious Pictures, up 18 percent.

Illa is also doing well, accomplishing an 8.1 percent rise, with 338,000 shares traded in a few minutes.

Circle does not trade after signing a contract with yet another leading port in the eastern Mediterranean Sea. The value of the order is about EUR135,000 and the duration of the assignment is nine months.

"Building on its know-how in the last port mile, Circle will support the port in question in the development of new Port Community Services aimed at optimizing the intermodal and trucking component," the company said.

Innovatec gives up 0.8 percent despite the fact that Modefinance, an Italian rating agency registered with ESMA, has confirmed a public 'B1+' rating to its creditworthiness.

"This rating - equivalent, on the basis of the current mapping, to the 'BBB+' rating of the main international rating agencies - represents a higher score than the minimum required to consider the company's issues investment grade," the company explained in a note.

In Asia, the Nikkei closed Tuesday up 0.9 percent to 31,856.71, the Shanghai Composite rose 0.9 percent to 3,120.33, and the Hang Seng gained 1.1 percent to 17,813.07.

In New York, the Dow Jones closed Monday's session down 0.1 percent to 34,463.69, the Nasdaq gaudagned 1.6 percent to 13,497.59 and the S&P 500 rose 0.7 percent to 4,399.77.

Among currencies, the euro changed hands at USD1.0921 versus USD1.0887 in Monday's closing European equities while the pound was worth USD1.2786 from USD1.2735 on Monday evening.

Among commodities, Brent crude is worth USD84.35 per barrel versus USD85.39 per barrel at Monday's close. Gold, meanwhile, trades at USD1,897.92 an ounce from USD1,889.12 an ounce on Monday evening.

On Tuesday's economic calendar, the Eurozone current account balance will be released at 1000 CEST.

At 1330 CEST, from the U.S., it will be the turn of FOMC member Barkin's speech, then at 1600 CEST the sale of existing homes will follow while at 2030 CEST the Fed's Bowman speech is scheduled to take place, in conjunction with the release of weekly oil stocks data.

On the corporate calendar in the Piazza Affari, no particular announcements are scheduled.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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