(Alliance News) - Stock markets start Tuesday's session with a bullish opening, with investors awaiting preliminary Eurozone inflation data for October and gross domestic product for the third quarter, as well as from Italy, where the Mib brings the point bar upward to the 27,500 area.

However, caution also reigns ahead of monetary policy decisions by the U.S. Federal Reserve and the Bank of England this week, which are expected to confirm current interest rates.

The BoJ has taken one of the final steps to end its seven-year policy of restraining long-term interest rates, setting the stage for bigger changes while sharply raising its inflation outlook.

The board made a near-unanimous decision Tuesday to allow 10-year Japanese government bond yields to rise above 1 percent, revising its so-called yield curve control policy for the second time in three months. The bank said the 1 percent ceiling on 10-year yields will be considered "a benchmark," stressing that a strict limit on long-term interest rates could lead to "large side effects." The BoJ had previously said it would offer to buy 10-year bonds at 1 percent in fixed-rate operations after raising the cap from 0.5 percent in July.

The FTSE Mib, therefore, marks a 0.8 percent rise to 27,558.69.

London's FTSE 100 advances 0.1 percent, Paris' CAC 40 advances 0.4 percent, and Frankfurt's DAX 40 advances 0.3 percent.

Among the smaller lists, the Mid-Cap advances 0.8 percent to 37,174.26, the Small-Cap picks up 0.4 percent to 24,162.42, and Italy Growth is in the green 0.2 percent to 7,611.95.

On the main list of Piazza Affari, good start for Prysmian, which is rising 2.2 percent. It announced Monday that it has signed an agreement worth about EUR900 million with Clean Path New York to provide submarine and terrestrial cable systems for one of the largest transmission infrastructure projects in the United States. Under the agreement, Prysmian Group will be responsible for the design, fabrication, installation, and testing of a 400-kV single-core high-voltage direct current (HVDC) cable system with XLPE insulation, subject to Clean Path New York issuing its notice to proceed in spring 2024.

Amplifon, on the other hand, advances 2.1 percent, with new price at EUR25.92, despite a price cut by Barclays and JP Morgan.

Banco BPM is also doing well, rising 1.5 percent and repricing at EUR4.79 per share, on the heels of eve's 0.9 percent gain.

On a negative note, Eni is giving up 0.3%. Of note, Societe Generale raised its target price to EUR18.00 from EUR16.50.

Tenaris, on the other hand, closes the list with price at EUR14.85, on a negative balance of 0.6% after eve's green with 1.0%.

On the MidCap, Goldman Sachs raised Technogym's tp to EUR9.50 from EUR9.20. The stock, up 3.6%, is priced at EUR7.33 per share.

Tamburi Investment Partners - up 1.5 percent - on Monday reported that it bought 72,349 of its own ordinary shares for a total value of EUR568,000 in the period from October 23 to October 27.

Piaggio's board of directors -- in the green by 2.6 percent -- on Monday approved its interim report for the nine months ended September 30, showing net income of EUR85.7 million, the highest recorded for the period, up 21 percent from EUR70.9 million as of September 30, 2022. The group's consolidated net revenues were EUR1.62 billion in line with revenues as of Sept. 30 last year.

The board of Lottomatica Group -- in the red by 1.7 percent -- Tuesday approved the condensed interim consolidated financial statements for the first nine months ended Sept. 30. Revenues were EUR1.19 billion in the first nine months of 2023, compared to EUR1.06 billion in the same period of 2022 pro forma, an increase of 12 percent pro forma.

On the SmallCap, good start for Mondo TV, which scores a plus 5.4 percent rearing its head after four bearish sessions.

Seri Industrial, meanwhile, advances 4.2%, with new price at EUR2.74 per share.

CIR advances ineve with 0.3%. The company reported that it bought 906,621 of its own shares in the period from October 23 to 27, for a total value of EUR347,000 or so.

At the tail end, Exprivia, on the other hand, is retreating 4.4 percent to EUR1.62 per share, after a 1.4 percent green light on the eve of the meeting.

Among SMEs, good buying on Exper.AI, which marks a plus 2.7 percent and new price at EUR0.76 per share after three bearish sessions.

Health Italia, on the other hand, marks a plus 2.5 percent after two down sessions.

G Rent, on the other hand, drops 6.2%, subject to profit taking after four sessions closes with bullish candle.

In New York overnight euroea, the Dow advanced 1.6 percent, while the S&P closed up 1.2 percent as did the Nasdaq.

Among Asian exchanges, the Nikkei rallied 0.5 percent, the Shanghai Composite gave up 1.0 percent, while the Hang Seng is floating down 1.6 percent.

Among currencies, the euro changed hands at USD1.0604 against USD1.0608 recorded in Monday's European equities close, while the pound is worth USD1.2146 from USD1.2146 on Monday.

Among commodities, Brent crude is worth USD86.75 per barrel from USD88.30 per barrel at Monday's close. Gold, meanwhile, trades at USD1,995.00 an ounce from USD2,000.50 an ounce on Monday evening.

Tuesday's economic calendar has Italy's Gross Domestic Product at 1000 CET, followed at 1100 CET by Italy's and the Eurozone's inflation rates.

At 1110 CET, an auction of BTPs with 5- and 10-year maturities is scheduled while, at 1200 CET, eyes on Italy's producer price index.

From the US, at 1400 CET, focus on the house price index and at 2130 CET on weekly oil stocks.

On the corporate calendar, coming up are the results of BasicNet, Carel Industries, NVP, Relatech and Stellantis.

By Maurizio Carta, Alliance News reporter

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