(Alliance News) - On Tuesday, major European stock markets open trading higher on a macroeconomically eventful day ahead of data on Italian inflation, Eurozone GDP and employment, and the ZEW index of sentiment on the German economy.

Thus, the FTSE Mib is in the red 0.2 percent to 27,199.68, the Mid-Cap is down 0.4 percent to 43,024.62, the Small-Cap is down 0.8 percent to 27,837.57, and Italy Growth is in the green 0.2 percent to 9,130.68.

In Europe, Paris' CAC 40 is down 0.3 percent, Frankfurt's DAX gives up 0.2 percent, and London's FTSE 100 is in fractional green.

In macroeconomic news, growth in industrial production and retail sales in China in April accelerated, albeit at a slower pace than expected. The National Bureau of Statistics said industrial production grew 5.6 percent year-on-year in April, faster than March's 3.9 percent. However, this was below the market consensus of 11 percent, as quoted by FXStreet.

Tuesday's data comes on top of last week's economic data, which painted a weaker picture of China's economic recovery.

Back in Italy, on the Mib, at the top are STMicroelectronics and Interpump both up 1.5 percent.

The latter reported Monday that its board of directors approved results as of March 31, 2023, reporting profit up to EUR86.0 million from EUR66.1 million. Revenues also rose, to EUR592.3 million from EUR488.7 million in the first quarter of 2022. Detailing the group's operating segments, the Oil division grew by 22 percent while the Water division grew by about 18 percent.

Utilities also did well, with Enel and Hera up 0.8 percent.

Goes on the bottom Telecom Italia, down 5.2 percent. Cassa Depositi e Prestiti and Macquarie will not submit an improved bid for TIM's network, leaving KKR as the sole bidder, according to sources close to the two companies reported by Bloomberg News.

CDP and Macquarie, which had offered EUR19.3 billion for TIM's network, have not yet made an official decision. According to some analysts, CDP's withdrawal would pave the way for a joint bid between CDP, Macquarie and KKR but the Australian group does not seem intent on wanting to bid together with KKR.

According to sources close to the dossier, CDP and Macquarie considered their latest bid for the network to be congruous and do not believe TIM's most coveted asset could be worth more than that amount.

On the Mid-Cap, Tamburi Investment Partners -- in the red by 0.2 percent -- on Monday approved its consolidated interim report as of March 31, having closed the first three months with a pro forma profit of EUR19.6 million, compared to EUR3.3 million in like-for-like earnings as of March 31, 2022.

Consolidated shareholders' equity as of March 31, 2023 is approximately EUR1.26 billion, compared to EUR1.17 billion as of December 31, 2022.

The board of directors of GVS -- in the green by 0.2 percent -- approved the interim report as of March 31, 2023, reporting revenues up 28 percent to EUR104.0 million from EUR81.1 million in the first quarter of 2022, thanks to the contribution of the latest acquisitions made during the previous year of the STT and Haemotronic groups. Net income amounted to EUR2.5 million from EUR13.0 million in the same period of 2022.

The board of directors of El.En. - in the red by 0.1 percent - on Monday approved the interim report for the period ended March 31, 2023, with earnings before taxes showing a positive balance of EUR16.6 million or so and registering a decrease of 5.3 percent from EUR17.5 million as of March 31, 2022.

Consolidated sales were EUR161.4 million compared to EUR144.4 million in the first quarter of 2022.

MARR gives up 1.6 percent. On Friday, it announced that it reported total consolidated revenues of EUR426.6 million in the first quarter of the year, up from EUR325.8 million as of March 31, 2022. Profit stands at EUR1.5 million from a loss of EUR2.9 million in 2022.

Cembre is flat after good numbers for the first quarter. The company reported a profit of EUR10.9 million up 32 percent from EUR8.2 million in Q1 2023. Sales revenues amounted to EUR57.8 million up 19 percent from EUR48.6 million in Q1 2022.

On the Small-Cap, Eurotech - in the green by 4.5 percent - reported that it approved consolidated revenues at EUR24.9 million from EUR17.4 million as of March 31, 2022, up 46 percent.

Profit amounts to EUR100,000 from a loss of EUR2.4 million in Q1 2022.

Class Editori rises 25 percent after reporting first quarter revenues of EUR19.6 million, up 13 percent from the first quarter of the previous year.

This improvement is attributable to the development of the digital area and the activities of Gambero Rosso Spa in addition to the partial recovery of advertising sales compared to the same period in 2022.

The board of directors of Esprinet--which cedes about 19 percent--reported that it had approved additional periodic information as of March 31, whereby revenues from contracts with customers in the first quarter amounted to EUR1.01 billion, down 11 percent from EUR1.13 billion in the same period last year.

Net income for the period was EUR5.9 million, down 41 percent from EUR10.1 million as of March 31, 2022. Net income per share is EUR0.12 down 40 percent from EUR0.10 in 2022.

Among SMEs, ReeVo--not yet affected by trading--reported on Tuesday that Nebula Aurea BidCo Spa has launched a tender offer to take over the entire capital of ReeVo and aimed at delisting the shares from Piazza Affari.

The offer will be EUR17.60 per share, representing a 21 percent premium over yesterday's closing of EUR14.57, for a total consideration if the takeover bid is fully subscribed of EUR86.7 million.

OSAI Automation System - not yet affected by trading - announced that it has acquired from an established multinational client, a strategic industrial player in the automotive sector, the assignment for a significant project worth a total of EUR6.8 million for an assembly and testing line destined for a leading European carmaker.

Renergetica does not yet trade, but announced Thursday that it had approved results for the year ended Dec. 31, 2022, which reported a net profit of EUR2.5 million from EUR2.7 million a year earlier and a value of production of EUR10.9 million from EUR11.9 million in 2021.

In Asia, the Nikkei closed up 0.7 percent to 29,842.99, the Shanghai Composite dropped 0.6 percent to 3,290.99, and the Hang Seng was down 0.1 percent to 19,945.71.

In New York last night, the Dow fell 0.1 percent to 33,348.60, the Nasdaq rose 0.7 percent to 12,365.21 and the S&P 500 is up 0.3 percent to 4,136.28.

Among currencies, the euro changed hands at USD1.0880 versus USD1.0874 at Monday's close. In contrast, the pound is worth USD1.2497 from USD1.2523 last night.

Among commodities, Brent crude is worth USD75.14 per barrel, unchanged from Monday evening. Gold, on the other hand, trades at USD2,012.65 an ounce from USD2,017.44 an ounce at Monday's European equities close.

On Tuesday's macroeconomic calendar, at 1000 CEST, the Italian inflation figure is due, while an hour later, from the Eurozone, comes GDP and trade balance.

At 1430 CEST, from the US, retail sales are released while at 1515 CEST the figure from industrial production is due, followed 45 minutes later by manufacturing production.

At 1600 CEST, a speech by ECB President Christine Lagarde is scheduled, while, at 2230 CEST, from the U.S., the weekly oil stocks figure will arrive.

Among the companies in the Square Business, the results of Beewize, Circle, and Innovatec are expected.

By Claudia Cavaliere, Alliance News reporter

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