(Alliance News) - European stock markets are positioned an opening higher Tuesday as investors await key U.S. inflation data this week to gauge the outlook for interest rates.

Fed Governor Michelle Bowman said over the weekend that despite more modest inflation numbers in May and June, inflation remains above the FOMC's 2 percent target. Markets have therefore downgraded their positioning on Federal Reserve rate cuts, seeing a greater likelihood of a 25 basis point cut in September than a larger 50 basis point cut.

Analysts still expect a total Fed cut of more than 100 basis points this year.

The FTSE Mib-after closing up 0.% 31,928.32 last night-is marking a green of 87.50 points.

Among the smaller listings, the Mid-Cap rose 0.4 percent to 45,121.58, the Small-Cap gave up 0.2 percent to 27,851.20, and Italy Growth gained 0.4 percent to 7,870.09.

In Europe, London's FTSE 100 is in the green by 4.00 points, Paris' CAC 40 rises 17.00 points, and Frankfurt's DAX 40 advances 43.40 points.

On the Mib, utilities lead the gains, with A2A gaining 0.9 percent and Snam rising 0.6 percent.

Better than all, however, did Azimut Holding, up 1.4 percent, and Banca Monte dei Paschi di Siena, up 2.3 percent.

Good buying also on Banca Mediolanum, up 1.3% to EUR10.23, on the heels of a 2.0% rise in the previous session. Of note, Jefferies cut its target price to EUR13.10 from EUR10.90.

Mediobanca gained 0.9%. Worth mentioning that Jefferies increased target price to EUR14.80 from EUR12.60 with 'hold' recommendation.

Poste Italiane - up slightly - reported that it bought 710,802 of its own shares in the period from August 7 to August 9. The average price per unit was EUR11.78, with a total value of EUR8.3 million.

Come on Brunello Cucinelli, down 1.0%, after three sessions closed with bullish candle.

On the Mid-Cap, Industrie De Nora gives up 2.5% and records the steepest decline on the list.

MFEs also hurt, with Type A shares down 1.1% and Class B shares in the red by 1.8%.

In contrast, Anima Holding gained 2.2 percent, with the company proceeding steadily with its buyback plan. Most recently, it reported on Friday that - in the week of Aug. 5 to Aug. 9 - it bought back its own shares worth about EUR1.7 million.

Ariston Holding -- up 0.7 percent -- announced on Friday that it had purchased 686,712 of its own ordinary shares at an average price of EUR3.6448 for a total consideration of EUR2.5 million. The transactions were carried out between August 2 and August 9.

Technoprobe rose 1.1 percent, rearing its head again after two bearish candles. Of note, on the stock Beremberg cut its target price to EUR7.30 from EUR7.50.

On the Small-Cap, AbitareIn closed up 1.2% to EUR4.40 per share, after Friday's 2.0% decline.

Also doing well was Il Sole 24 Ore, which posted a plus 1.7 percent after a 0.6 percent rise in the previous session.

At the back of the pack, Bestbe Holding and EPH give up 20 percent apiece and Netweek drops 8.1 percent.

Among SMEs, expert.ai rose 7.3 percent, following up the previous session's 3.2 percent green.

Bellini Nautica, on the other hand, fell 1.4 percent to EUR2.92, reversing course after the previous three bullish sessions.

Cloudia Research, on the other hand, lost 6.8 percent, the subject of profit taking after four sessions of gains.

Finally, Gismondi 1754 gave up 4.1 percent.

In New York on the European evening, the Dow gave up 0.4 percent, the Nasdaq picked up 0.2 percent, and the S&P 500 closed at a parity.

Among Asian exchanges, the Shanghai Composite gave up 0.1 percent, the Hang Seng was in the green by 0.1 percent, while the Nikkei closed ahead 3.1 percent.

Among currencies, the euro changed hands at USD1.0936 versus USD1.0933 in Monday's European stock close while the pound was worth USD1.2799 from USD1.2788 on Monday evening.

Among commodities, Brent crude is trading at USD81.66 per barrel versus USD80.54 per barrel at Monday's close. Gold, on the other hand, trades at USD2,462.61 an ounce from USD2,448.24 an ounce on Friday evening.

Tuesday's macroeconomic calendar includes the release of the ZEW index of German and Eurozone economic conditions at 1100 CEST, coming at the same time as China's money supply data.

In the afternoon, at 1430 CEST, focus on U.S. producer prices. The day will close with weekly U.S. crude oil inventories.

Among the companies in the Piazza Affari, no particular corporate events are expected.

By Maurizio Carta, Alliance News reporter

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