(Alliance News) - On Tuesday, major European stock markets are expected to rise, according to IG futures, following the strong performance of U.S. markets while China and Hong Kong are still closed for Chinese New Year.

The FTSE Mib, therefore, is expected to rise 57.5 points or 0.2 percent after closing Monday's trading in the green by 0.2 percent at 25,821.45.

In Europe, London's FTSE 100 is expected to open up 5.0 points or 0.1 percent, Paris' CAC 40 is expected up 9.4 points or 0.1 percent while Frankfurt's DAX 40 is expected to be in the green 21.0 points or 0.2 percent.

"The outperformance in the U.S. tech sector-where Spotify joined the companies that announced a workforce cut, ed-seems to indicate a growing belief among investors that the Fed will soon have to look to cut rates before the end of the year, although looking at bond markets yesterday, yields also rose, with money flowing out of the treasury markets," commented Michael Hewson, chief market analyst at CMC Markets.

"Today's European market opening is likely to be much more lukewarm, suggesting perhaps that investors in Europe do not share the same enthusiasm for the economic outlook, despite the reopening of the Chinese economy, which may help provide increased demand. This increase in optimism is likely to be reflected in today's January flash PMI numbers, which have already seen a pickup in economic activity in recent months due to the sharp decline in energy prices from the peaks in August and September," the expert added.

In macroeconomic news, the GfK consumer sentiment indicator in Germany released Tuesday rose to minus 33.9 in February 2023 from a marginally revised minus 37.6 in January, compared with market expectations of minus 33.0.

The latest reading marked the fourth consecutive month of improved sentiment amid falling energy prices, with both income expectations and economic conditions rising significantly.

Meanwhile, in Asia, Japan's private sector returned to growth in January, led by the services sector, according to preliminary survey results released Tuesday.

Au Jibun Bank's latest services purchasing managers' index rose to 52.4 points in January from 51.1 in the previous month, according to the flash reading. This figure was higher than the consensus of 51.4, as cited by FXStreet.

Among Italy's smaller lists Monday evening, the Mid-Cap closed up 0.9 percent to 43,184.81, the Small-Cap gained 0.6 percent to 29,766.51, and Italy Growth finished in the green 0.2 percent to 9,562.44.

On the main list in Piazza Affari, good buying on Intesa Sanpaolo, with the stock closing up 2.7 percent. UBS raised its target price on the stock to EUR2.70 from EUR2.60.

Also buying session on STMicrolectronics, which finished up 2.6 percent at EUR39.06.

Enel, on the other hand, gave up 3.3 percent, at the ex-dividend and ending for the third session in a row on the bearish side.

Also going under, among others, was Snam, which contracted for the third session in a row also struggling with "dividend-day." The stock gave up 2.7 percent.

On the Mid-Cap, Juventus FC gave up 5.1 percent after the 15-point penalty collected Friday night by the Federcalcio's federal appeals court.

As Francesco Bonazzi explains on Alliance News, "that of sports justice does not directly impact the club as much as the criminal one, which questions the correctness of financial statements and communications to the market, but can depress the club's turnover in case of relegation or exclusion from the European cups. Within ten days, the reasons for Friday night's verdict will be announced, and Juventus will have 30 days to file an appeal.

Technogym, on the other hand, gave up 3.0% to EUR8.48. On the stock it is reported that Stifel downgraded the stock to 'hold' from 'buy,' with a target price at EUR8.50

Maire Tecnimont - up 1.6 percent - on Monday announced its expansion, through its subsidiary NextChem Holding, into the markets for high value-added derivatives and biodegradable plastics intermediates with the acquisition of an 83.5 percent stake in Conser, a Rome-based proprietary technology and process engineering company.

Credem, on the other hand, rose 5.1 percent on the heels of Friday's 4.6 percent gain. Unusual trading volume was recorded on the stock, with more than 895,000 traded against a three-month daily average of just over 207,000.

On the Small-Cap, I Grandi Viaggi closed up 3.3 percent. Of note, the company reported last week that the board approved the draft financial statements as of October 31, 2022 and reviewed the group's consolidated results between November 1, 2021 and October 31, 2022, reporting a net loss of EUR140,000 from a net loss of EUR1.4 million as of October 31, 2021.

CIA gave up 0.3 percent after much of the session in the positive and ending for the third session in the negative.

ePrice, on the other hand, closed down 4.3 percent, although it should be noted that the share price is EUR0.0135. The stock-which has not detached a dividend since 2017-shows annual volatility at 115.

Enervit also closed in the red by 4.3 percent. The stock registered volume of more than 29,000, compared with the daily average for the past three months of about 3,500.

Among SMEs, on the other hand, Allcore moved up 6.2 percent to EUR2.15.

Alfonsino rose more than 12 percent to EUR1.17. The stock is showing unusually high volume, with more than 459,000 pieces traded against a three-month daily average of about 37,000. Last week the company reported revenues of EUR4.6 million in 2022, up 17 percent from EUR3.9 million a year earlier. Orders, on the other hand, rose 20 percent year-on-year to 550,000.

Among the bearers, DHH gave up 4.5 percent instead, bringing its price down to EUR14.80. The stock - on the MarketScreener platform - is listed as neutral in the short, medium and long term.

In New York on European night, the Dow Jones closed in the green by 0.8 percent at 33,629.56, the S&P finished up 1.2 percent at 4,019.81, and the Nasdaq finished up 2.0 percent at 11,364.41.

Among currencies, the euro changed hands at USD1.0889 versus USD1.0860 at Monday's close. In contrast, the pound is worth USD1.2400 from USD1.2365 on Monday evening.

Among commodities, Brent crude is worth USD88.06 per barrel from USD88.64 per barrel on Monday evening. Gold, meanwhile, trades at USD1,939.07 an ounce from USD1,922.18 an ounce last session.

On Tuesday's economic calendar, the French composite PMI will be released at 0915 CET and 15 minutes later will come the German one, half an hour before the Eurozone figure and an hour before the British one.

At 1545 CET, focus on the manufacturing and services PMI from the US. The day closes at 2230 CET with weekly oil stocks from the States.

On the corporate calendar, however, results from Energy, Finlogic, Grifal and Italian Sea Group are expected.

By Chiara Bruschi, Alliance News reporter

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