(Alliance News) - Europe's major stock markets open higher on Tuesday, meeting forecasts after the big sell-off at the end of last week, while the banking sector angst of recent days has eased slightly, as Michael Hewson, Chief Market Analyst at CMC Markets, comments.

"One thing of note yesterday was that a number of ECB policymakers, while continuing to argue that inflation was still too high, began to temper their remarks with hints of financial stability concerns, with Spain's De Cos and Portugal's Centeno referring to these issues when making future policy decisions," the analyst points out.

"This more nuanced approach was welcomed in contrast to ECB President Lagarde's rather muted comments last week that there was no trade-off between financial stability and price stability," Hewson concluded.

Thus, the FTSE Mib is in the green by 0.7 percent to 26,387.85, the Mid-Cap is up 0.3 percent to 42,437.08, the Small-Cap is up 0.3 percent to 29,708.22 as Italy Growth at 9,360.18.

In Europe, Paris' CAC 40 is in the green by 0.9%, London's FTSE 100 is up 0.5%, and Frankfurt's DAX 40 is up 0.8%.

On the Mib, DiaSorin rises with 2.0% after announcing Monday that the board of directors approved 2022 results reporting a net profit of EUR240.1 million down from the EUR310.7 million recorded in 2021. In contrast, adjusted profit amounted to EUR318.7 million down from EUR356.9 million in 2021.

The board approved, inotre, the proposed distribution of an ordinary dividend totaling EUR61.5 million, or EUR1.10 per share.

Banking and oil stocks rallied, with Tenaris picking up 2.6 percent and Eni and Saipem up 2.0 percent and 1.6 percent, respectively.

Also in the highs are UniCredit, Mediobanca, FinecoBank, and Banca Monte dei Paschi di Siena, which open with gains between 2.0% and 1.0%.

Intesa Sanpaolo -- up 1.1 percent -- reported Monday that it had purchased 128.2 million of its own ordinary shares between March 20 and March 24.

The shares were taken over at an average price per share of EUR2.3054, for a total value of EUR295.6 million.

On the mostly bullish Mid-Cap, CIR leads, up 3.1 percent followed by MutuiOnline, up 2.6 percent.

Juventus Football Club gives up 0.3 percent. On Friday, the company reviewed and approved the consolidated half-year financial report as of Dec. 31, 2022 reporting revenues of EUR276.2 million up from EUR223.1 million in the same half of 2021/2022.

Loss amounted to EUR29.5 million down from a loss of EUR112.1 in the first half of last year.

On the Small-Cap, Beghelli gives up 4.4 percent and ends up at the bottom. The company reported Friday that its board of directors approved the draft budget as of December 31, 2022 reporting consolidated sales at EUR145.9 million down from EUR148.0 million in 2021.

At the top, however, is Next Re, up 5.9 percent, followed by Alkemy and Aquafil, up 3.5 and 3.4 percent respectively.

Itway--up 1.4 percent--reported Monday that it closed 2022 with a net profit of EUR230,000 from EUR330,000, while the value of production stood at EUR3.1 million from EUR2.4 million in the same period last year.

Among SMEs, Gismondi 1754 starts with a 5.4 percent uptick, on the strength of its 2022 results, which include a net profit of EUR1.6 million up 364 percent from EUR351,000 in 2021.

Consolidated production value is EUR15.2 million up 52% from EUR10 million in 2021.

Pattern - down 1.9 percent - announced on Monday that it had signed a binding framework agreement to sell to Burberry Limited - or another Burberry group entity designated by Burberry Limited - the business unit of the Turin plant dedicated to the design and production of Burberry brand products, through the sale of shares in a newly formed corporate vehicle, at a price of EUR21 million.

SolidWorld finishes at the bottom with a 5.4 percent decline after approving on Monday its draft operating and consolidated financial statements for 2022 reporting a EUR100,000 profit in improvement from a EUR200,000 loss reigistered as of Dec. 31, 2021.

Production value amounted to EUR60.8 million up 4.4 percent from EUR58.2 million in 2021.

OSAI Automation System gives up 1.3 percent after reporting a net income of EUR950,000 in 2022 slightly up from EUR910,000 recorded in 2021.

Production value amounted to EUR42.5 million up from EUR32.6 million in the previous year. Order intake recorded EUR44.8 million, up 20 percent from the same figure in 2021.

Circle rises 2.6 percent after it announced Monday that its board of directors approved figures for the year ending Dec. 31, 2022, reporting a consolidated production value of EUR10.9 million, up 17 percent from EUR9.3 million in 2021.

Net income amounts to EUR830,000 from EUR550,000 in 2021.

Rocket Sharing Co rises 0.4 percent. It announced Monday that it had approved results for the year ended Dec. 31 with a loss of EUR1.0 million from a loss of EUR239,349 in the same period a year earlier.

Sales revenue amounted to EUR3.0 million from EUR1.8 million as of Dec. 31, 2021.

In Asia, the Nikkei closed in the green 0.2 percent to 27,518.25, the Shanghai Composite closed in the red 0.2 percent to 3,245.38, and the Hang Seng was up 1.1 percent to 19,781.82.

In New York on Monday, the Dow Jones closed in the green 0.6 percent to 32,432.08, the S&P gained 0.2 percent to 3,977.53, and the Nasdaq was down 0.5 percent to 11,768.84.

Among currencies, the euro changed hands at USD1.0817 against USD1.0784 at Monday's close. In contrast, the pound is worth USD1.2321 from USD1.2273 on Monday evening.

Among commodities, Brent crude is worth USD77.90 per barrel versus USD76.47 per barrel on Monday evening. Gold, on the other hand, trades at USD1,953.59 an ounce from USD1,956.52 an ounce at Monday's close.

On Tuesday's economic calendar, coming up is the Italian business and consumer confidence data at 1000 CET.

From the US, at 1430 CET the goods-only trade balance, while at 1600 CET it will be the turn of the consumer confidence report. At 1900 CET the 5-year Treasury auction and weekly oil stocks.

On the corporate calendar, Alfonsino, Copernicus, Fope, Grifal, Illa, MeglioQuesto, Nusco, Omer Philogen, and Zucchi are among the many results.

By Chiara Bruschi, Alliance News reporter

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