(Alliance News) - The main Milanese index moves lower Tuesday, catching its breath after a four-day rally that took the index to its highest level since last February.

Trading rooms are assessing a number of important economic data from China and the Eurozone. Among them, inflation in Italy slowed only slightly in December, confirming Istat's initial forecasts and remaining among the highest in the eurozone. As Istat released Tuesday, consumer prices in Italy rose 11.6 percent in December after increasing 11.8 percent in November, in line with initial estimates by the national statistics office and the market.

Germany's, on the other hand, was 8.6 percent in December, the lowest in four months and in line with the preliminary estimate.

Thus, the FTSE Mib is giving up 0.6 percent to 25,758.00.

Among other European exchanges, London marks a red 0.2 percent as do Paris and Frankfurt.

Among the smaller listings, the Mid-Cap is up 0.1 percent to 42,292.94, the Small-Cap is giving up 0.3 percent to 29,337.52 while Italy Growth is giving up 0.3 percent to 9,497.09.

On the main list of Piazza Affari, among the few stocks resisting the bearish current, Leonardo jumps to the top, advancing 4.0% to EUR8.57. On the stock it is reported that Goldman Sachs raised its recommendation to 'buy' from 'neutral' with fair value at EUR11.70.

Tenaris, on the other hand, rises 1.9%, rearing its head again after two bearish sessions. The stock is valued at EUR17.34 out of an average of 11 analysts on the MarketScreener platform, making it 12 percent underpriced.

Among the bearish, Banco BPM in the tail is giving up 2.8 percent, after closing at the top of the list in the previous session with a 4.2 percent gain. On the stock it is reported that Redburn which raised its recommendation on the stock to 'buy'. In addition, the bank announced Monday that it has signed a EUR5 million financing agreement to benefit Mare Group, a company that has been in business for more than 20 years and is focused on innovation through new industry-enabling technologies.

The financing is in addition to operations already underway to support Mare Wave, the multi-year growth plan designed to enable investments of up to EUR80 million and which, already underway, is rapidly accelerating Mare Group's evolution domestically through acquisitions, organic growth and the introduction of a new scalable business model.

Another banker, FinecoBank, also gives way, retreating 2.3 percent to EUR16.33. On the stock it is mentioned that JP Morgan raised its target price to EUR18.00 from EUR16.70.

On the cadet segment, Juventus FC advances, up 3.6 percent after eve's green with 0.8 percent.

Also seen in the high quarters is Webuild, which is rallying 1.8 percent to EUR1.55 as it continues its buyback program. Most recently, it informed Monday that it bought back 15,000 of its own ordinary shares from January 9 to 13.

Seco, on the other hand, advances 0.5 percent. Axelera AI on Tuesday announced that it has selected Seco as the sole European developer of edge AI solutions based on its MetisTM AI platform, a high-performance, cost-effective and user-friendly platform that combines hardware and software to accelerate computer vision on the edge. Seco will gain privileged access to Axelera AI technology and complete the design of a development board and module based on a standard form factor.

In contrast, Alerion, on the other side of the list, gives up 1.9 percent after last night's 2.7 percent green.

Not far behind, Italmobiliare, on the other hand, gives up 1.8 percent after a 2.5 percent gain on the eve of the day. The stock was previously coming off a bearish quaternary.

On the Small-Cap, Openjobmetis advances 3.6 percent, pointing to its third session on the bullish side.

PLC, on the other hand, marks a 2.6 percent gain, still marking a slight loss from the start of 2023.

Orsero, on the other hand, rises 2.3 percent, heading for its fifth session to end on the bullish side.

At the tail end, Bastogi retreats 2.6 percent, on the heels of eve's 0.6 percent loss.

Among the SMBs, good buying on Grifal, pushing the stock ahead 3.1 percent following up on the double-digit rise-over 14 percent-in the eve. Unusually high trading volume is reported on the stock at 61,000 against a daily average of 15,6000 recorded over the past three months.

Alfonsino - up 6.2 percent to EUR0.5330 - reported Tuesday that it had posted revenues of EUR4.6 million in 2022, up 17 percent from EUR3.9 million a year earlier. Orders, on the other hand, rose 20 percent year-on-year to 550,000.

Among the bearish G Rent gives up 5.2% to EUR2.01. However, the stock has made a good start to 2023, with assets marking plus 13%.

Fenix Entertainment, on the other hand, gives up 4.8 percent, after eve's green with 1.6 percent.

Among currencies, the euro changes hands at USD1.0813 versus USD1.0823 at Tuesday's close. In contrast, the pound is worth USD1.2201 from USD1.2204 on Monday evening.

Among commodities, Brent crude is worth USD85.30 a barrel from USD84.03 a barrel last night. Gold, meanwhile, trades at USD1,904.72 an ounce from USD1,917.95 an ounce last session.

Tuesday's economic calendar, at 1300 CET, OPEC's monthly report is due.

In the afternoon, data on inflation, foreign bond buying and foreign bond buying will come from Canada.

By Maurizio Carta, Alliance News reporter

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