(Alliance News) - Mid-session Tuesday, major European stock markets veer lower after the release of some important macro economic data.

Thus, the FTSE Mib trades in the red by 0.3 percent to 34,185.490, the Mid-Cap is in the red by 0.3 percent to 47,440.02, the Small-Cap gives up 0.1 percent to 29,050.72, while Italy Growth is in fractional green at 8,226.85.

In Europe, Paris' CAC 40 is in the red 0.2 percent, London's FTSE 100 is up 0.5 percent, while Frankfurt's DAX 40 is down 0.4 percent.

In macroeconomic news, in the first quarter, Eurostat reports, Eurozone GDP expanded 0.3 percent from the previous quarter, well above market expectations of 0.1 percent, while the bloc's inflation avoided a slowdown and remained stable at 2.4 percent.

The data supported the hawks on the ECB Governing Council, aligning with Vice President de Guindo's warning about upside inflation risks for the year.

Moving to Italy, inflation slowed in April on an annual basis to 0.9 percent from 1.2 percent in March, while on a monthly basis it accelerated slightly to 0.2 percent from the previous month's flat reading.

As for GDP, Istat reported 0.3 percent growth in the first quarter compared to the previous quarter when it grew 0.1 percent, revised from 0.2 percent. In trend terms, the Italian economy grew 0.6 percent in the first quarter from a 0.7 percent increase in the fourth quarter.

On the Mib, FinecoBank remains on top and gains 1.0%, followed by Banca Mediolanum and Moncler, both up 0.7%.

Tenaris gives up 0.4%. On Thursday the company reported results for the first quarter of the year, which ended with a profit of USD750 million, down from USD1.13 billion in the first quarter of 2023. Revenues increased to USD3.44 billion from USD4.14 billion in the same period.

Among the bearish, Iveco Group--in the red by 1.6 percent--reported Monday that FPT Industrial has signed a global partnership agreement with Longen Power on the export of engines to different regions of the world, starting a new chapter of cooperation.

FPT Industrial is an Iveco Group brand dedicated to the design, manufacture and sale of powertrains and solutions for on-road and off-road vehicles, as well as marine and power generation applications.

Amplifon gives up 1.1 percent. The company disclosed Monday that it has completed the acquisition of Hearing Instruments, and Precision Hearing Aid, two companies owned by one of Miracle-Ear's major franchisees to which it reports about 35 stores in the U.S., the world's largest hearing care market.

The acquired stores are located in Pennsylvania, generate annual sales of about USD20 million and employ about 80 people.

Stellantis remains at the bottom and gives up 2.8 percent while Saipem loses 1.8 percent and Nexi 1.7 percent.

On the cadet segment, Zignago Vetro -- down 0.5 percent -- reported Monday that net income in the first quarter of the year fell to EUR11.8 million from EUR29.7 million as of March 31, 2023.

Revenues in the period stood at EUR158.3 million from EUR198.0 million, down 20 percent from 2023

Lottomatica Group rises 1.9 percent after it reported Tuesday that it closed the first quarter with revenues of EUR8.7 billion, up 20 percent from EUR7.3 billion as of March 31, 2023.

Revenues in the period stood at EUR440.1 million, up 4.0% to EUR422.3 million in the previous year.

Webuild - in the red by 0.8 percent - announced Monday that its U.S. subsidiary Lane has been awarded the USD110 million contract in the U.S. for the construction of the Newsport News section of the "I-64 HREL highway project in the city of Hampton, Virginia.

The new contract follows the recent announcement of the acquisition in Florida of the USD299 million project, also 100% Lane, to widen the Seminole Expressway/SR 417.

Among smallcaps, Monrif -- up 0.5 percent -- reported Monday that it reported consolidated revenues of EUR147.3 million in 2023 from EUR157.9 million in the year ended Dec. 31, 2022.

Group operating loss stood at EUR1.7 million from a profit of EUR314,000.

Itway - in the green by 1.9 percent - ended 2023 with a pretax loss of EUR481,000 from one of EUR362,000 as of Dec. 31, 2022, while net loss was EUR330,000 from one of EUR348,000.

Revenues for the period stood at EUR49.1 million from EUR46.7 million in 2022.

Going to the bottom, giving up 21 percent, Autostrade Meridionali.

Among SMEs, TraWell Co - in the green by 2.0% - reported that it ended 2023 with a profit of EUR3.3 million from EUR1.3 million as of December 31, 2022, up 159%.

Revenues were EUR30.3 million from EUR26.3 million, up 15 percent.

Digital Value -- in the green by 2.3 percent -- reported that it ended fiscal year 2023 with revenues of EUR847.4 million, up 20 percent from EUR708.5 million as of Dec. 31, 2022.

Profit in the period amounted to EUR38.6 million from EUR34.0 million in FY2022.

FAE Technology rises 3.6 percent after announcing Tuesday that it closed FY2023 with pro forma consolidated revenues of EUR71.6 million and value of production of EUR74.8 million.

Ebitda for the period stood at EUR7.6 million, a margin of 10.1 percent, while pro forma full-year consolidated net income for the period stood at EUR3.6 million

In Asia, the Nikkei closed in the green by 1.2% at 38,405.66, the Hang Seng closed in the fractional green at 17,763.03, and the Shanghai Composite closed in the red by 0.3% at 3,104.82.

In New York on Monday, the Dow Jones closed in the green by 0.4 percent at 38,386.09, the S&P finished in the green by 0.3 percent at 5,116.17, and the Nasdaq closed up 0.4 percent at 15,983.08.

Among currencies, the euro changed hands at USD1.0726 from USD1.0716 on Monday in European equities closing while the pound was worth USD1.2546 from USD1.2551 on Monday evening.

Among commodities, Brent crude is worth USD88.53 a barrel from USD87.22 a barrel Monday evening and gold trades at USD2,328.50 an ounce from USD2,317.20 an ounce Monday evening.

Tuesday afternoon's macroeconomic calendar features housing price data at 1500 CEST.

By Chiara Bruschi, Alliance News reporter

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