(Alliance News) - Piazza Affari marks a bullish path Tuesday, following the long Easter weekend and with the Mib index moving around 27,440, the highest in a month.

On the domestic front, Italy expects to cut its economic growth forecast for 2024 in the wake of rising interest rates and difficulties in spending funds available with the European NRP.

Eurozone retail sales fell on both a monthly and annual basis in April, Eurostat reported Tuesday. Eurozone retail sales fell 0.8 percent on a monthly basis in February after rising 0.8 percent in January.

On a year-on-year basis, February's 3.0 percent decline followed a 1.8 percent decrease in the previous month.

In the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate, or EFFR, the main rate hike for the May 3 meeting has a 33% probability priced in for confirmation in the 475/500 bps range. In contrast, the probability of an increase in the 500/525 bps area, an increase equivalent to 25 bps, is at 67%. The current target is between 475 and 500 bps.

Consumer price inflation in China fell below 1.0 percent in March, official data showed Tuesday, reflecting weak demand as the World's second-largest economy tries to recover from the crisis caused by the pandemic. The March consumer price index, the main indicator of inflation, stood at 0.7 percent, down from the 1.0 percent recorded a month earlier, according to the country's National Bureau of Statistics.

Thus, the FTSE Mib is up 0.8 percent to 27,427.34.

In Europe, London's FTSE 100 is advancing 0.4 percent, Paris' CAC 40 is in the green by 1.0 percent, and Frankfurt's DAX 40 is advancing with 0.6 percent.

Among the smaller lists, the Mid-Cap is in the green with 0.5 percent to 47,766.50, the Small-Cap is up 0.3 percent to 29,914.18 while Italy Growth is in the green with 0.6 percent to 9,446.05.

On the main list in Piazza Affari, Saipem confirms its bullish stance and gains 3.6 percent to EUR1.49, bringing its month-on-month assets over 18 percent after closing the previous two sessions among the bearish.

High quarters also for CNH Industrial, which rises 3.4 percent. The company reported that its subsidiary CNH Industrial Capital completed its USD600 million bond offering, with a coupon of 4.550% and maturity in 2028, with an issue price of 98.9%. Net proceeds from this offering were approximately USD588 million, after payment of the offering and other related expenses.

The 'buy' side also prevails well on Stellantis, which advances 2.5 percent to EUR16.65 per share.

Hera, on the other hand, gives up 1.0 percent to EUR2.69, reversing course after two sessions in the green.

Among the few negative notes is also Inwit, which retreats with 1.0 percent after two bullish sessions.

On the Mid-Cap, Seco advances 2.2% to EUR5.17 per share, also trending up on the weekly with 6.4%.

Brembo, on the other hand, picks up 2.6 percent, bringing the price to EUR13.68 after having closed negative in the previous two sessions.

Intercos, on the other hand, rises 2.4 percent to EUR14.48 per share, positioning the snout toward its third bullish session in a row.

Selling prevails--among the few bearish investors--on Salcef, which retreats 1.6 percent and closes down the list. The stock, however, registers a gain of more than 17 percent over the past month.

On the Small-Cap, among the best is SS Lazio, which advances 4.9%, although on the weekly it scores just below par.

Trevi, on the other hand, picks up 4.6 percent, following last session's 0.9 percent loss.

Good purchases also on Banca Profilo, which moves ahead 2.8% with price at EUR0.2190 after last session's 0.5% loss.

Newlat Food retreats 4.5%, reversing course after three bullish sessions.

On the SME list, however, Bellini Nautica rises well, posting a plus 7.8% at EUR2.48.

Casta Diva, on the other hand, advances 5.6 percent, with price at EUR0.9780 toward its third session to end on an uptrend.

First positions also for Convergenze, which with a green of 3.5 percent floats the price to the EUR2.36 area.

At the tail end, among the few on a negative note, Gibus is giving up 3.6 percent to EUR13.40 per share.

Alfonsino, on the other hand, gives up 4.0% with price at EUR0.7120 monthly marking minus 25%.

In New York on European night, the Dow closed up 0.3%, the Nasdaq gave fractionally, and the S&P 500 picked up 0.1%.

Among currencies, the euro changed hands at USD1.0915 versus USD1.0924 at Thursday's close. In contrast, the pound is worth USD1.2441 from USD1.2450 on Thursday evening.

Among commodities, Brent crude is worth USD84.75 per barrel versus USD85.04 per barrel on Thursday evening. Gold, meanwhile, trades at USD2,003.72 an ounce from USD2,010.84 an ounce at yesterday's close.

Tuesday's economic calendar at 1200 CET will feature the UK mortgage rate along with the U.S. small business optimism report.

By Maurizio Carta, Alliance News reporter

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