(Alliance News) - Futures point to an upward opening for major European indexes ahead of services and composite PMIs from major European economies and after declines in yesterday's close.

The FTSE Mib is given up 170.0 points or 0.5 percent after closing 1.1 percent in the red at 34,276.02 on Tuesday's session.

London's FTSE 100 is indicated up 56.2 points or 0.7 percent, Paris' CAC 40 is expected up 47.3 points or 0.6 percent and Frankfurt's DAX 40 is expected up 97.5 points or 0.5 percent.

Last night in Milan, the Mid-Cap gave up 0.6 percent to 47,566.17, the Small-Cap closed down 0.7 percent to 29,301.05 while the Italy Growth finished the session in the red 0.1 percent to 8,180.80.

On the Mib, good performance by Brunello Cucinelli, which rose 2.3% to EUR95.35 per share - best among blue chips - on the heels of eve's gain of 1.2%.

STMicrolectronics also did well, rising 1.9% to EUR95.40 per share.

Generali, on the other hand, closed just above par at EUR23.65 per share. Citigroup raised its target price for Generali to EUR28.70 from EUR23.36, with a 'buy' recommendation.

BPER Banca gave up 3.2 percent with a new price at EUR4.78 per share, following the eve's 0.2 percent rise.

UniCredit, on the other hand, gave up 4.2 percent with price at EUR35.29 after eve's 1.2 percent rise. The bank disclosed Tuesday that it bought back 5.8 million shares between May 27 and 31. The shares were taken over at an average price of EUR36.2431 for a total value of EUR209.3 million.

On the Mid-Cap, Ariston Holding moved well, rising 5.6 percent. Of note, Citigroup confirmed its target price on the stock at EUR5.80, upgrading its recommendation to 'buy'.

Juventus FC, on the other hand, rose 1.2 percent to EUR1.94 per share, rearing its head again after two sessions among the bearish.

Webuild - down 0.1 percent - reported on Monday that it bought 20,000 of its own ordinary shares at an average unit price of EUR2.1045 for a total value of EUR42,090 during the period May 27-31. The total number of treasury shares held by the company is thus 24.4 million, representing 2.4 percent of the ordinary share capital.

Philogen, on the other hand, gave up 4.7 percent to EUR20.50 per share, breaking a seven-session bullish trend.

On the Small-Cap, Exprivia rose 0.9 percent to EUR1.65 per share, following eve's gain of 0.3 percent.

In contrast, Fidia rose 2.8 percent to EUR0.73, rebounding after two sessions closed among the bearish.

Conafi, on the other hand, fell 3.7 percent, in its second consecutive bullish session.

Among PMIs, Impianti rose 9.0% to EUR0.38 after two bearish sessions.

Ambromobiliare rose 6.1%, after two sessions closed in the red.

Pasquarelli Auto--up 5.8%--reported Tuesday that it has signed a contract with Car Mobility Srl for the concession to sell vehicles from Chinese manufacturer Dongfeng Motor Corporation.

The contract, which went into effect Monday and has a five-year term, stipulates that Pasquarelli Auto will distribute Dongfeng Motor Corporation's vehicles-electric cars, ICEs and Hybrids-and provide all pre-sales and after-sales services, as well as ensure routine and extraordinary servicing of the cars.

Cyberoo - up 1.5 percent to EUR3.40 - announced Tuesday that as of June 10, operations will also be launched in Spain and Portugal. "A little more than a year after the opening of the Warsaw office, the company continues its strategy of expansion abroad, this time focusing on the Iberian Peninsula, a market in constant development," reads the company note.

In Asia, the Nikkei is down 1.1 percent to 38,417.70, the Shanghai Composite gives up 0.6 percent to 3,073.67 and the Hang Seng rises 0.3 percent to 18,497.26.

In New York, at Tuesday's close, the Dow gained 0.4 percent to 38,711.29, the Nasdaq rose 0.2 percent to 16,857.05 and the S&P 500 was up 0.2 percent to 5,291.34.

Among currencies, the euro changed hands at USD1.0879 from USD1.0886 on Monday in European equities closing while the pound was worth USD1.2782 from USD1.2788 on Monday evening.

Among commodities, Brent crude is trading at USD77.10 per barrel from USD78.43 per barrel on Monday. Gold, on the other hand, trades at USD2,325.84 an ounce from USD2,341.10 an ounce on Monday evening.

On Wednesday's macroeconomic calendar, Italy's services PMI is due at 0945, followed by those of Germany, France and the Eurozone. At 1100 CEST, the Eurozone producer price index will be released instead.

At 1300 CEST, the U.S. mortgage market report is expected while at 1415 CEST will come the nonfarm employment report, followed at 1545 CEST by the U.S. services PMI.

At 1630 CEST, the oil stocks report, the Cushing inventory and the EIA report will be released.

On the corporate calendar, Giglio Group results are coming up.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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