(Alliance News) - Major European stock markets are expected to open with mixed trends on Tuesday, with Milan just above parity, as investors consider developments in the Middle East situation.

"European markets have started the week cautiously but upbeat in the absence of an escalation of tensions over the weekend, although you can be sure that investors will be keeping an eye on events in the Middle East as Israel assesses its next move," said CMC Markets Michael Hewson.

FTSE Mib, thus, advances 10.00 points, after closing up 1.2 percent at 27,810.61 last night. The Mid-Cap, last night, was up 0.8 percent to 39,176.04, the Small-Cap was up 0.3 percent to 25,210.61, and Italy Growth closed slightly higher at 8,096.67.

In Europe, London's FTSE 100 is giving up 11.00 points, Paris' CAC 40 is near the parity line, and Frankfurt's DAX 40 is advancing 5.00 points.

On the main list of Piazza Affari last night, UniCredit did best of all, taking the top spot by climbing 2.6 percent, followed by BPER Banca and ERG in the green by 2.3 percent.

Italgas gained 1.4 percent. The company announced Monday that it had completed the acquisition from the Veolia Environnement SA group of the business unit to which the concessions held in Italy in the water sector belong.

For the purchase, the company will be able to pay the Veolia group a total of up to EUR115 million -- in terms of equity value --, partly contingent on the achievement of certain targets of the operating companies.

Recordati - up 0.5 percent - announced the appointment of Milan Zdravkovic as Executive Vice President of Research & Development.

Among the bearish performers were oil-related stocks, with Saipem giving up 1.4 percent and Tenaris dropping 0.7 percent.

Doing worst of all was Telecom Italia, in the red by 6.2 percent. The widely expected submission of the binding offer by KKR does not boost the stock of the former state-owned telephone giant. In fact, it appears to sink it. The decision to separate Telecom Sparkle and the words of Minister Giancarlo Giorgetti, who is very cautious about the success of the deal, weigh heavily.

"The market is trying to decipher the words of the Minister of Economy, marked by the utmost caution, but perhaps also interpreted as a bit cold. During the press conference to present the Manoeuvre 2023, to a question about the offer of the U.S. fund for the network, Giorgetti first called the issue "complex," recalling that in the first instance the board of directors and shareholders' meeting must express themselves. Then he said, "Let's see the final outcome and especially if the proposal will be accepted, otherwise we will think of something else," wrote Francesco Bonazzi, a columnist for Alliance News.

Among midcaps, Salvatore Ferragamo -- up 0.8 percent -- reported that it has been admitted to the collaborative compliance regime.

Iren rose 0.6 percent after announcing Wednesday that it had finalized the acquisition of control of Semia Green, a company active in the circular economy, through its subsidiary Iren Ambiente Toscana.

The remaining share capital is held by Sienambiente, already a shareholder of Semia Green and in which the Iren group has a 40 percent stake.

On the Small-Cap, Itway closed up 5.9 percent after announcing Monday that it has signed a strategic partnership with One Identity in identity governance.

The Itway group expects revenues of about EUR4 million in the next two years by operating in the banking and insurance, healthcare, energy, education and public administration sectors.

Among SMEs, Almawave closed 7.8 percent in the red after announcing Monday that Davide Diotallevi has taken over as the group's chief financial officer and investor relations manager.

Jonix closed 2.3 percent in the red after reporting Friday that it closed the first nine months with revenues of EUR960,000, down from EUR2.0 million in the same period last year. Revenues from abroad amounted to EUR300,000 from EUR530,000; revenues from Italy dropped to EUR660,000 from EUR1.5 million.

In New York on European night, the Dow rallied 0.9 percent, the Nasdaq closed up 1.2 percent, and the S&P 500 advanced 1.1 percent.

Among the Asian exchanges, however, the Nikkei closed ahead 1.1 percent, the Shanghai Composite just above parity, while the Hang Seng is marking plus 0.6 percent.

Among currencies, the euro changed hands at USD1.0542 against USD1.0549 recorded in Monday's European stock close, while the pound is worth USD1.2191 from USD1.2195 on Monday evening.

Among commodities, Brent crude is worth USD89.67 per barrel from USD90.26 per barrel at Monday's close. Gold, meanwhile, trades at USD1,917.47 an ounce from USD1,934.75 an ounce on Monday evening.

On Tuesday's macroeconomic calendar, at 1100 CEST from both Germany and the Eurozone comes the ZEW index of German economic conditions and confidence sentiment in Europe.

At 1200 CEST the ECOFIN meeting gets underway.

Overseas, at 1430 CEST comes US retail sales data for September. At the same time from Canada comes inflation.

Still from the U.S., at 1515 CEST data on industrial and manufacturing production for September are released.

No particular announcements are expected among companies listed on the Stock Exchange.

By Maurizio Carta, Alliance News reporter

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