(Alliance News) - Tuesday, major European stock markets remain below the parity line as the Mib continues its bullish opening course, just hours after the release of Italian GDP and services PMI data from major Old Continent countries.

Thus, the FTSE Mib is up 0.1 percent to 32,941.89, the Mid-Cap rises 0.2 percent to 46,061.52, the Small-Cap gives up 0.5 percent to 27,721.79 while Italy Growth is in fractional red at 8,203.08.

In Europe, Paris' CAC 40 gives up 0.2 percent, London's FTSE 100 is in the fractional red while Frankfurt's DAX 40 is down 0.2 percent.

Among the day's macros, January's Eurozone composite manufacturing PMI index, compiled by Hamburg Commercial Bank and released Tuesday by S&P Global, remains in the contraction zone in February at 49.2, at the highest reading in eight months, up from 47.9 in January. Evident was the revival of the tertiary sector, where activity levels rose for the first time since July last year, and the contraction of manufacturing, though slower, still continues to offset it.

Istat, meanwhile, reported that Italy's GDP grew by 0.2 percent in the fourth quarter of 2023, in line with flash estimates at the end of January and stable compared to the previous quarter's upwardly revised value, thus coming in at 0.2 percent from the previously calculated 0.1 percent.

On the Mib, Iveco Group does best of all and rises 2.1%, followed by Tenaris and Intesa Sanpaolo, up 1.9% and 1.8%.

DiaSorin advances 0.8 percent. The company announced that it has received 510(k) clearance from the U.S. Food and Drug Administration for its new Liaison Plex platform and its first test panel, the Liaison Plex Respiratory Flex Assay.

Liaison Plex expands and consolidates DiaSorin's position in the syndromic multiplexing market, which has a global value of about USD2.9 billion and is estimated to grow to about USD4 billion by 2027.

Banco BPM is flat after disclosing that it purchased 905,286 of its own ordinary shares on March 4.

The shares were taken over at an average price of EUR5.5231 and for a total consideration of EUR5.0 million. The company also announced that it had concluded its buyback plan.

Inwit -- in fractional red -- and Fiera Milano -- up 0.5 percent on the Small-Cap -- announced Monday that they have approved a strategic partnership that will make the Rho and Milan exhibition hubs a "Smart City."

The 15-year agreement will provide Inwit with the exclusive management and technological development of all passive infrastructures supporting mobile telecommunications at the exhibition center in Rho and the Allianz MiCo in Milan, covering a total area of more than 551,000 square meters, according to the released note.

On the cadet segment, Webuild rises 7.2 percent after announcing Tuesday that subsidiary Lane has acquired the USD299 million project to build the "Seminole Expressway/SR 417 Project" in Florida. With this contract, Webuild, through Lane, confirms a strong presence in the U.S., its second largest non-domestic market after Australia in terms of revenue.

Banca Popolare di Sondrio advances 0.2 percent after announcing Monday the launch of a cash repurchase offer of its fixed-rate subordinated bond with a total outstanding nominal amount of EUR200.0 million maturing on July 30, 2029.

The bank also announced the issuance of a fixed-rate bond called "EUR5.00 billion Euro Medium Term Note Program," intended for institutional investors in Italy and abroad excluding the US.

Piaggio -- in the red by 0.7 percent -- announced Monday that it had posted a net profit of EUR91.1 million in 2023, up 7.3 percent from EUR84.9 million in 2022. This is, the company pointed out, "the best result ever." The board will also propose a dividend balance of 8 cents per share, bringing the total dividend to 20.5 cents per share, up from 18.5 cents a year earlier.

Digital Value -- in the red by 0.7 percent -- and Teradata, a leading company in Datawarehouse solutions, announced Monday their strategic partnership for the Italian market, which includes an agreement to market Teradata's Datawarehouse and Analytics solutions, exclusively for the Finance and Public Administration sectors.

On the Small-Cap segment, KME Group, in the red by 1.4 percent, announced Monday that its subsidiary KME has signed a contract regarding the acquisition of 100 percent of the shares of Blackhawk Holding, a German holding company that owns 100 percent of Sundwiger Messingwerk.

The expected price of the acquisition will be about EUR62 million including metal stock and will be paid for EUR41 million at closing and the remainder through a three-year interest-free vendor loan.

Geox--declining 1.1 percent--reported Friday that the group had revenues of EUR719.6 million in 2023, down 2.2 percent from EUR735.5 million in 2022, but up 0.3 percent at constant exchange rates. Results for the fourth quarter were lower than the previous year with revenues from sales reaching EUR138 million, down 17% at current exchange rates.

On the podium are SS Lazio, which advanced 5.6 percent, Netweek up 3.9 percent, and Aeroporto Guglielmo Marconi in Bologna, which advanced 3.6 percent.

Among SMEs, FAE Technology rises 18 percent and the stock is locked in. The company announced Monday that it has finalized an agreement with Ray Ozzie, who takes over as the group's Technology Advisor.

The U.S.-based entrepreneur and innovator, formerly chief technical officer and chief software architect at Microsoft from 2005 to 2010 and now founder and CEO of Blues Wireless, will support the group in expanding its business model, with a focus on opportunities in the edge computing and artificial intelligence markets.

Ulysses Biomed divests 1.9 percent. The company announced Monday that it has signed, through its Hyris subsidiary, a partnership agreement with Generon for the use of certain Hyris proprietary solutions.

Relatech -- in the green by 2.9 percent -- announced Monday it had welcomed Nieco -- New Ecological Initiatives -- into DESK Membership, a long-term partnership that, in the name of innovation and digital evolution, makes available a suite of services guaranteed by the Relatech ecosystem.

Uptown sees Lindberg, up 6.0%, and Spindox, up 5.8%, while Convergence advances 6.4%.

Tweppy--flat at EUR0.98--reported Friday that the board of directors approved some preliminary management figures for December 31 reporting a value of production of EUR1.6 million, down about 17 percent from EUR1.0 million realized in 2022.

Revenues from sales and services as of Dec. 31 were EUR1.7 million, down about 4.3 percent from the same period last year of EUR1.8 million.

In New York, the Dow gave up 0.3 percent to 38,989.83, the Nasdaq lost 0.4 percent to 16,207.51, and the S&P 500 finished down 0.1 percent to 5,130.95.

Among currencies, the euro changed hands at USD1.0851 against USD1.0859 recorded in Monday's European stock close, while the pound is worth USD1.2688 from USD1.2696 on Monday evening.

Brent crude is worth USD82.90 per barrel versus USD83.25 per barrel at Monday's close. Gold, meanwhile, trades at USD2,124.59 an ounce from USD2,116.67 an ounce last night.

On Tuesday afternoon's macroeconomic calendar, from the US, coming up is the services PMI at 1545 CET, at 1600 CET space is given to factory orders, and at 2230 CET eyes on the weekly oil stocks data.

By Chiara Bruschi, Alliance News reporter

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