(Alliance News) - European stock markets opened with bullish trends on Tuesday, confirming the market movements that preceded the ringing of the bell.

The corporate results season is increasingly occupying the agenda of trading rooms, while the release of the European Central Bank's Consumer Expectations Survey and retail sales data from the Eurozone are awaited for further indications of the single currency central bank's trajectory.

According to data released Tuesday by the Federal Statistical Office, factory orders in Germany unexpectedly rose 8.9 percent in December, compared with market forecasts and the downwardly revised figure of a flat reading in November. This was the strongest growth since June 2020, boosted by strong orders in several sectors, particularly vehicle construction up 111 percent, namely aircraft, ships and trains; metal products manufacturing up 18 percent; and electrical equipment up 39 percent.

On the domestic front, the first month of 2024 showed the fourth month-over-month increase in Italian construction activity, which was supported by another increase in new orders, in turn often linked to new contracts associated with the National Recovery and Resilience Plan. However, the January survey nonetheless observed a loss of vigor in the expansion of the Italian construction sector.

In detail, the survey conducted by Hamburg Commercial Bank and published by S&P Global on Tuesday showed that the PMI index for the construction sector in Italy stood at 51.6 in January, from its highest value in twenty months of 55.2 in December.

The FTSE Mib, therefore, advanced 0.6 percent to 31,145.45.

In Europe, London's FTSE 100 is advancing 0.1 percent, Paris' CAC 40 is in the green by 0.5 percent, and Frankfurt's DAX 40 is picking up 0.1 percent.

Among the smaller lists, the Mid-Cap is picking up 0.3 percent to 45,215.77, the Small-Cap is advancing 0.3 percent to 27,549.87, and Italy Growth is in the red 0.1 percent to 8,263.89.

On the main list in Piazza Affari, Azimut pushes well, moving ahead 1.1 percent to EUR26.12 per share after falling 0.6 percent on the eve of the meeting.

UniCredit--up 1.5 percent--following record accounts for 2023, announced Tuesday that it bought back 4.2 million of its own shares between January 29 and February 2. The shares were taken over at an average price of EUR26.6711 for a total value of EUR113.2 million.

Bernestein and RBC raised Ferrari's target price, and the Cavallino stock opened trading in the green by 0.2 percent.

Also raising the target price for Generali -- in the money with 0.6 percent -- by Jefferies and Deutsche Bank.

Among the few bearish performers, Interpump's 5.6 percent contraction followed two sessions of gains.

On the Mid-Cap, illimity Bank sprints, which is rallying 1.5 percent, on its third bullish candle in the week when the 2023 accounts will be published.

Ariston Holding, on the other hand, is advancing 1.4 percent, following eve's 3.7 percent decline.

Tamburi Investment Partners - in the green with 0.1 percent - continues steadily with its buyback program. Most recently, it announced Monday that it has bought back its own ordinary shares for a total value of about EUR241,000.

On the negative note, the list's minority, Anima Holding is giving up 1.2 percent, on the day it will release its 2023 accounts.

Alerion Clean Power--which is continuing with its buyback program--reported Monday that it bought back its own ordinary shares between January 22 and 26 for a total value of EUR212,032.50.

On the Small-Cap, rocket start for Beewize, which brings the bar up 9.2% with new price at EUR0.5580 and aiming for its fifth bullish daily candle.

Risanamento -- up 3.2 percent -- reported Monday that it closed 2023 with a net profit of EUR10.6 million, which compares with a loss of EUR53.9 million in the previous year. Revenues rose to EUR595.6 million from EUR370 million while production value rose to EUR57.1 million from EUR2.5 million.

At the tail end, Autostrade Meridionali is giving up 3.5 percent, heading for the fifth session in a row to close on a bearish trend.

Rear-ends also for SS Lazio, on its third bearish session with new price at EUR0.72 per share.

Among SMEs, H-Farm advances 3.2 percent, with price at EUR0.1135, rebounding after four sessions with bearish candle.

eVISO--up 2.0%--reported data provided by the Integrated Information System--a public body that manages information flows related to the electricity and gas markets--on the annual consumption volumes of the electricity user base in the direct channel combined with eVISO in February.

Thus, the annual consumption volumes related to direct customers paired with eVISO as of February amounted to 382 GWh and equivalent to annual revenues in excess of EUR90 million, up 19 percent from the figures reported in December 2023, when they stood at 320 GWh.

Racing Force - in the red with 1.1 percent - on Tuesday reported that it ended fiscal 2023 with consolidated revenues of EUR62.6 million, up 6.4 percent from EUR58.9 million in fiscal 2022. In the fourth quarter, consolidated revenues stood at EUR12.8 million, down slightly from EUR13.4 million in the same period last year.

Back ache for Finanza.tech, which gave up 2.2 percentafter eve's gain, albeit a tepid 0.5 percent.

In New York on Monday, the Dow Jones gave up 0.7 percent, the S&P closed down 0.3 percent, and the Nasdaq left 0.2 percent on the parterre.

Among Asian exchanges, the Shanghai Composite closed up 3.2 percent, the Hang Seng marked a plus 4.0 percent, while the Nikkei left 0.5 percent on the parterre.

Among currencies, the euro changed hands at USD1.0754 against USD1.0733 recorded in Monday's European stock close, while the pound is worth USD1.2559 from USD1.2528 on Monday evening.

Brent crude is worth USD78.30 per barrel versus USD77.38 per barrel at Monday's close. Gold, meanwhile, trades at USD2,024.58 an ounce from USD2,021.59 an ounce on Monday evening.

Tuesday's calendar includes at 1000 CET, from Italy, the business and consumer confidence index while at the same time Eurostat will release consumer inflation expectations in the euro area.

At 1030 CET in the UK is the construction purchasing managers' index while at 1100 CET from Germany will come out data on registered cars and in the eurozone retail sales.

In the afternoon, building permits will come in from Canada and at 1800 CET car registrations in Italy.

In Piazza Affari, the results of some banks - Intesa Sanpaolo, FinecoBank and Banca Popolare di Sondrio - are expected, along with those of Anima Holding and Medica, among others.

By Maurizio Carta, Alliance News reporter

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