(Alliance News) - Major European stock exchanges open slightly higher on Tuesday, contradicting futures that this morning predicted a down start to the day, ahead of important economic data in the US and Eurozone later in the week.

As a result, the FTSE Mib opens up 0.3 percent to 32,650.23, the Mid-Cap gives up 0.3 percent to 45,992.57, the Small-Cap is flat at 28,285.47, and Italy Growth rises 0.3 percent to 8,231.40.

Paris' CAC 40 is in fractional green at 7,931.17 as is Frankfurt's DAX 40 at 17,433.15 while London's FTSE 100 advances 0.2% to 7,697.20.

Among the morning macros, it is reported that the GfK consumer sentiment indicator for Germany rose to minus 29.0 in the forecast for March from February's 11-month low of 29.6, in line with market expectations, according to data released Tuesday.

On the Mib, Prysmian rises 0.6 percent. It announced Tuesday that it had finalized the contract for the order worth about EUR1.9 billion awarded by Eastern Green Link 2 Limited, a joint venture between SSEN Transmission and National Grid Electricity Transmission PLC, owners of the electric transmission systems in the UK.

Ayvens, a global leader in sustainable mobility, and Stellantis -- in the red by 0.4 percent -- on Monday reached "a multibillion-dollar framework agreement of strategic importance," as detailed in a note.

The deal will see Ayvens affiliates purchase up to 500,000 vehicles for its long-term leasing fleet across Europe over the next three years, the companies explained in a note.

Edison Rsp -- in the green by 1.3 percent -- and Snam -- up by 0.7 percent -- announced the start of exclusive negotiations for the purchase and sale of 100 percent of Edison Storage.

The exclusivity follows the competitive process launched last October by Edison to enhance the subsidiary's value, the company explained in a note.

Edison Storage contributes to the security of the national energy system through three natural gas storage facilities that are located in Cellino, Collalto and San Potito and Cotignola and have a total capacity of about 1 billion cubic meters per year.

Moncler recovers after closing down 2.2 percent and opens in the green by 0.7 percent. On Saturday, it announced--on behalf of Double R, Ruffini Partecipazioni Holding and Grinta--that the latter, a Rivetti family vehicle, has served notice of withdrawal from Double R.

Grinta holds a stake of about 16.473 percent in Double R, while Double R in turn holds about 23.721 percent of Moncler's share capital.

For the purposes of the withdrawal, the joint note says, Double R will assign to Grinta a number of Moncler ordinary shares "coinciding in transparency with the Moncler shares to which it is entitled." The Rivetti family will, therefore, own through Grinta its investment in Moncler shares.

On the Mid-Cap, Maire Tecnimont opens in the red by 0.1 percent. It reported Monday evening that NextChem through its nitrogen technology licensor Stamicarbon has been awarded a license and equipment supply contract for a state-of-the-art urea synthesis and granulation plant in Egypt on behalf of El-Nasr Company for Intermediate Chemicals.

Ariston Holding--green by 1.0 percent--reported that it has finalized an agreement to acquire a production site located in the Oct. 6 Municipality Industrial Park near Cairo, Egypt, from Universal Group, a historic Egyptian manufacturing company founded by Youssri Kotb.

PharmaNutra opens in the red by 0.5 percent after reporting Monday that the board approved plans to merge Junia Pharma Srl and Alesco Srl into PharmaNutra.

The two companies are wholly owned subsidiaries of PharmaNutra.

Among the smallcaps, Mondo TV, flat at EUR0.23, announced Monday that it has signed a new agreement with Warner Bros. Discovery to license in Italy the animated series Maca&Roni, produced by the Korean Acommz and aired on the K2 group's kids channel.

Tesmec is down 1.1 percent after reporting preliminary operating data for fiscal year 2023 and letting it know that it revised its closing estimate due to a slowdown in Trencher business.

Preliminary revenues then came in the EUR252-258 million range compared to EUR245.2 million as of Dec. 31, 2022, and against the forecast of expected revenues in the EUR270-280 million range.

IGD gives up 1.1 percent after announcing on Friday that it has signed an agreement with Sixth Street and subsidiaries of Starwood Capital and Prelios SGR, among the leading real estate management and services companies in Italy, to sell a portfolio consisting of 13 assets, valued at EUR258 million, broadly in line with the book value as of December 31, 2023. The transaction will close by April 2024.

Sogefi opens up 0.4 percent after closing in the green by 36 percent. It reported Friday that it closed 2023 with a profit of EUR57.8 million, up 95 percent from EUR29.6 million in 2022.

Consolidated revenues grew 5.5 percent to EUR1.62 billion from EUR1.54 billion in 2022. Ebitda of EUR221.4 million increased 14 percent from EUR195.1 million, with an Ebitda margin of 13.6 percent from 12.6 percent, driven by growth in volumes and contribution margin.

Among SMEs, Digital Magics opens up 0.5 percent and LVenture Group advances 2.0 percent. The companies released their preliminary 2023 results in a joint statement on Monday, following the approval by their respective shareholders' meetings last December of the merger of Digital Magics into LVenture.

Digital Magics ended 2023 with a loss of between EUR5.5 million and EUR5.1 million, compared to a loss of EUR1.2 million in 2022. LVenture Group, on the other hand, as shown in its preliminary results approved on January 12, closed 2023 with a loss between EUR3.2 million and EUR2.9 million.

Marzocchi Pompe--up 0.5 percent--reported Monday that it had finalized the purchase of a new plant for an amount of about EUR1.0 million, thus taking "another step in its strategic plan to enlarge the Zola Predosa complex."

Circle still does not trade. The company announced Monday that it has won a EUR400,000 contract through its subsidiary Magellan Circle.

The Across project is funded by the European Defense Fund with a total budget of about EUR14.5 million and is to develop revolutionary technologies and solutions for adaptive camouflage.

Omer gives up 6.2 percent after reporting Monday that it ended 2023 with a value of production of EUR66.8 million, up 6 percent from EUR63.3 million in 2022.

This increase was mainly driven by growth in production volumes at parent company Omer.

In Asia, the Nikkei closed fractionally in the green at 39,239.52, the Hang Seng closed in the green by 0.9 percent at 16,790.80, and the Shanghai Composite gained 1.3 percent to 3,015.48.

In New York on Monday, the Dow Jones closed in the red 0.2 percent to 39,069.23, the S&P finished down 0.4 percent to 5,069.53, and the Nasdaq closed down 0.1 percent to 15,976.25.

Among currencies, the euro changed hands at USD1.0859 against USD1.0850 recorded in Monday's European stock close while the pound was worth USD1.2688 from USD1.2678 on Monday evening.

Brent crude is worth USD82.76 per barrel versus USD82.06 per barrel at Monday's close. Gold, meanwhile, trades at USD2,037.46 an ounce from USD2,029.65 an ounce on Monday evening.

Tuesday's calendar features data on the Eurozone money supply and loans to individuals at 1000 CET. At 1110 CET, eyes on the six-month BOT auction in Italy while, at 1200 CET, the focus will be on data on job seekers in France.

Durable goods orders at 1430 CET and house prices at 1500 CET will be the main catalysts as far as the U.S. is concerned, where speeches by several membersrid of the Federal Reserve are also scheduled.

Among the companies in Piazza Affari, Anima Holding, Banco BPM, Campari, IGD, and MeglioQuesto will release their fiscal year 2023 accounts.

By Chiara Bruschi, Alliance News reporter

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