(Alliance News) - On Wednesday, major European stock markets are expected by IG futures to be in positive territory ahead of the release of some macroeconomic data for France, Germany, Spain, Italy, the Eurozone and the UK.

Thus, futures give the FTSE Mib up 140.0 points or up 0.5 percent after rising 0.2 percent to 27,478.37 Tuesday evening.

Paris' CAC 40 is expected to be in the green by 6.5 points or 0.1 percent, as is Frankfurt's DAX 40 up 33.5 points or 0.2 percent, while London's FTSE 100 is expected to be in the green by 0.4 percent or 31.5 points.

Among Italy's smaller stock markets on Tuesday, the Mid-Cap gave up 0.1 percent to 44,839.79, the Small-Cap gained 0.3 percent to 30,305.60, and Italy Growth was down 2.7 percent to 9,365.43.

In macroeconomic news, China's Caixin General Manufacturing PMI index rose to 51.6 in February from 49.2 in January, exceeding the market consensus of 50.2.

This was the first increase in factory activity since last July and the highest figure in eight months after a change in Covid-19 management policy. Manufacturing grew for the first time in six months, with the highest rate of expansion since June 2022.

In Japan, au Jibun Bank's manufacturing PMI fell to 47.7 in February from 48.9 in January, slightly revising upward the preliminary estimate of 47.4 but indicating the sharpest deterioration in the state of the sector since September 2020.

This was the fourth consecutive month of contraction, as both production and new orders posted the largest decline in more than two and a half years.

On the highest-capitalization list in Piazza Affari good buying on Poste Italiane, which rose 2.0 percent to EUR10.20 per share, on the heels of the eve's green closed up 1.4 percent.

The board of directors of Saipem -- in the green by 2.8 percent -- announced Monday that it had reviewed preliminary figures for fiscal year 2022, reporting a net loss of EUR209 million from one for EUR2.46 billion in 2021. Revenues as of Dec. 31, 2022 are EUR9.98 billion from EUR6.52 billion, while adjusted EBITDA is EUR595 million from a loss for EUR1.27 billion in 2021. Technical investments amount to EUR523 million from EUR246 million in 2021. Post-IFRS 16 Net Financial Position is negative EUR264 million from negative EUR1.54 billion as of Dec. 31, 2021.

Buying session also on UniCredit and Intesa Sanpaolo, up 1.4 percent to 1.1 percent respectively. On Intesa it should be mentioned that JPMorgan raised the target price to EUR3.20 from EUR2.90 with an 'overweight' recommendation.

Also doing well was Nexi, which gained 0.5 percent after signing an agreement for a long-term partnership in the Spanish market with Banco Sabadell. The agreement calls for Nexi to take over 80 percent of Banco Sabadell's merchant acquiring business, following the spin-off of the asset to PayComet, a subsidiary of the Spanish institution, for an upfront cash consideration of EUR280 million, reflecting an enterprise value of EUR350 million for the entire capital of the asset.

Among the declines, Snam gave up 2.2 percent, ending a three-session bullish mini-trend.

Tenaris, on the other hand, retreated 2.4 percent after Monday's 2.5 percent gain.

On the Mid-Cap, LU-VE rose, closing in the green by 0.3 percent with trading volume at 264,000, against a three-month daily average of about 16,000.

Also up in the high quarters was Saras, up 1.5 percent after the eve's 1.7 percent decline.

On a negative note, Italmobiliare gave up 0.8 percent after Monday night's 1.3 percent gain. The stock had previously come from four sessions in the red.

AXA announced Tuesday that it had sold 100.0 million shares in Banca Monte dei Paschi di Siena--which gave up 8.1 percent--representing about 7.9 percent of the bank's share capital. The shares were sold at a price of EUR2.33 per share, totaling EUR233 million, in an accelerated bookbuyulding operation reserved for institutional investors. Following the expected completion of the offering, AXA retains a percentage close to 0 of MPS's share capital, or 8,907 shares in the bank.

In the Small-Cap segment, KME Group gained 11 percent after its board approved guidelines for an OPAS on the company's 100.0 million treasury shares and warrants to 2024. For the 100.0 million shares, representing 31 percent of the company's capital, EUR0.90 per share will be offered; for the warrants, on the other hand, the offer is for a voluntary exchange in the ratio of one ordinary share for every 2.3 warrants brought in.

Specifically, the company will pay each bidder a total consideration per unit consisting of EUR0.50 for each ordinary share of KME, for a total value of EUR50 million; and 0.0174 shares of Culti Milano - for each ordinary share of KME, for a total maximum amount of 1.7 million shares of Culti Milano - up 0.9% on Italy Growth -, with a unit value of EUR0.40.

Good purchases also on Geox, which brought the bar up by 5.7 percent. Trading volumes exceeded 2.8 million, against a three-month daily average of about 478,000.

Sogefi, on the other hand, gave up 3.4 percent, after eve's green with 0.9 percent.

Among SMEs, Bifire advanced 4.1 percent, with the company proceeding steadily with its buyback program.

Digitouch, on the other hand, rallied 3.5 percent to EUR2.64, after Monday's 1.2 percent loss.

Jonix -- up 3.1 percent -- on Tuesday approved its draft operating budget to December 31, 2022, reporting a sharp drop in profit to EUR8,000 from EUR960,000. Also down was revenue for the period, which amounted to EUR4.4 million in 2022 from EUR6.8 million in 2021. "2022 sees a market no longer driven by the pandemic effect, in which sensitivity to environmental issues and awareness of the importance of using sanitization and air quality improvement systems have not yet permeated society. This is compounded by an international environment hurt by geopolitical and economic events such as the Russian-Ukrainian conflict and rising interest rates and inflation," the company explains in a note.

Among several negative notes, Technoprobe, on the other hand, gave up 14 percent despite good corporate numbers. The board on Monday approved draft financial statements for the year ended December 31 that closed with a consolidated net profit of EUR148 million, up 24 percent on the previous year.

Consolidated revenues as of Dec. 31, 2022 stood at EUR549 million, up 40 percent from 2021 as a result of the group's expansion in its target market partly due to the development of new technologies that have strengthened its leadership position.

In Asia, the Nikkei closed in the green by 0.3 percent at 27,516.53, the Shanghai Composite gained 1.0 percent to 3,312.35, and the Hang Seng is rising 3.8 percent to 20,548.13.

In New York on Tuesday, the Dow Jones closed down 0.7 percent to 32,656.70, the S&P lost 0.3 percent to 3,970.15, and the Nasdaq was down 0.1 percent to 11,455.54.

Among currencies, the euro changed hands at USD1.0612 against USD1.0613 at Tuesday's close. In contrast, the pound is worth USD1.2050 from USD1.2116 on Tuesday evening.

Among commodities, Brent crude is worth USD84.07 per barrel versus USD83.82 per barrel on Tuesday evening. Gold, meanwhile, trades at USD1,841.35 an ounce from USD1,837.13 an ounce at Tuesday's close.

On Wednesday's macroeconomic calendar, at 0945 CET, the manufacturing PMI is due from Italy. At 0955 CET, Germany's manufacturing PMI and unemployment rate will be released.

At 1300 CET, from the US, the mortgage market report is due. At 1630 CET, the EIA refinery count.

On the corporate calendar, results from Amplifon, Innovatec, Maire Tecnimont, and Reti are scheduled.

By Claudia Cavaliere, Alliance News reporter

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