(Alliance News) - Business Square Tuesday closed higher in the second session of the week, setting the bar high at 26,800, with trading desks assessing the latest U.S. CPI report. The data showed that inflation is still rising but at a slower pace.

The rate reached 6 percent in February, slowing for the eighth consecutive month and marking the lowest level since September 2021. The data were released Tuesday by the U.S. Bureau of Labor Statistics.

The figure was in line with market forecasts and compares with January's 6.4 percent.

In the CME Group platform's FedWatch Tool, however, - using futures also based on the actual federal funds rate, or EFFR - the main rate hike for the March 22 meeting has a 23 percent probability priced in for confirmation in the 475/500 bps range. In contrast, the probability of an increase in the 475/500 bps area is at 77%.

The FTSE Mib, therefore, closed in the green by 2.4 percent at 26,800.98. Among the smaller listings, the Mid-Cap closed up 2.0 percent to 43,088.62, the Small-Cap rose 2.2 percent to 30,332.53, and Italy Growth closed in the green 1.3 percent to 9,390.93.

In Europe, Paris's CAC 40 rallied 1.8 percent, London's FTSE 100 advanced 1.0 percent, and Frankfurt's DAX 40 moved ahead 1.8 percent.

On the main list in Piazza Affari, Interpump Group rose 4.3% to EUR51.25 per share, rearing its head again after five sessions ended among the bearish.

Best operating result ever, growing premiums with strong boost from non-life and increased dividend. That, in a nutshell, is the 2022 of Assicurazioni Generali, which presented its accounts Tuesday. Net income improved 2.3 percent year-on-year to EUR2.91 billion from EUR2.85 billion and earnings per share rose 4.4 percent to EUR1.85 from EUR1.78. The stock closed up 3.6 percent.

JP Morgan cut its target price on FinecoBank to EUR18.20 from EUR18.60. The stock closed the session in the green by 1.7 percent to EUR14.09.

Intesa Sanpaolo -- up 3.4 percent -- on Monday evening reported that it had purchased in the period from March 6 to March 10, a total of its own shares for a total value of EUR204.7 million or so.

On the cadet segment, Datalogic contracted 2.3 percent, closing for the third session in a row on the bearish side.

Reply -- up 2.8 percent -- on Tuesday announced that it had approved draft financial statements as of December 31, 2022, having reported group net income of EUR192.2 million from EUR150.7 million in the same period last year. The board also approved the distribution of a dividend of EUR1.00 per share.

OVS -- up 2.2 percent -- on Tuesday reported that it purchased -- in the period between March 7 and March 13 -- 424,453 ordinary shares, or 0.146 percent of the share capital. The average unit price was EUR2.5595 for a total value of just under EUR1.1 million or so.

MARR -- in the money with 2.7 percent -- reported Tuesday that it had reported an increase in net income in 2022, to EUR26.6 million from EUR35.1 million in the previous year. The board proposed a dividend of EUR0.38 per share from EUR0.47 a year earlier.

Leading the way was Tod's, which pushed ahead 7.0 percent in the aftermath of the release of its accounts. The company reported a consolidated result of EUR23.1 million and compares with a loss of EUR5.9 million in 2021.

On the Small-Cap, Trevi Finanziaria Industriale closed ahead 6.7 percent, after a 6.5 percent setback on the eve.

Esprinet's board of directors -- up 5.9 percent -- on Tuesday approved the consolidated financial statements as of December 31, 2022, which closed with a net profit of EUR47.3 million, up 7 percent from EUR44.1 million in 2021. The board resolved to propose to the shareholders' meeting to distribute a dividend of EUR0.54 per share, unchanged from those paid in 2022 and 2021.

Results also came in for Biesse, which stretched by 4.7 percent. In 2022, the company finished with a net income of EUR30.3 million, compared to EUR34.2 million in 2021, representing a net income per share of EUR1.11. The board also proposed the payment of a gross dividend of EUR0.33 per share.

Among SMEs, Comer Industries moved ahead 11 percent to EUR34.00 per share after the eve's red with 2.9 percent.

Ecosuntek closed in the green by 5.4 percent to EUR19.70 after Monday's 3.1 percent red at the close.

Unidata--flat at EUR39.20--reported Tuesday that it had reviewed and approved its draft financial statements for the year to Dec. 31, 2022, reporting a profit of EUR7.5 million from EUR7.8 million in the same period a year earlier and marking a decline of 4.0 percent. The company proposed a dividend of EUR0.10 per share for a total of EUR251,075.00.

Culti Milano, on the other hand, closed in the red by 6.2 percent, with price at EUR22.70. The company announced Tuesday that it had approved its fiscal year 2022 results, having reported a consolidated net income of EUR2.3 million from EUR2.7 million as of Dec. 31, 2021. The board proposed the distribution of a dividend of EUR0.10 per share.

In New York, the Dow is rallying 1 percent, the Nasdaq 2.2 percent, and the S&P 500 is marking plus 1.7 percent.

Among currencies, the euro changes hands at USD1.0715 versus USD1.073 at Monday's close. In contrast, the pound is worth USD1.2153 from USD1.2155 on Monday evening.

Among commodities, Brent crude is worth USD78.66 per barrel versus USD81.06 per barrel on Monday evening. Gold, on the other hand, trades at USD1,906.39 an ounce from USD1,906.38 an ounce at Monday's close.

On Wednesday's economic calendar, at 0300 CET, China's industrial production and retail sales data is expected, as well as the unemployment rate. At 0800 CET, from Germany it will be the turn of the wholesale price index. At 0845 CET, from France will be coming inflation, while at 1100 CET, from the Eurozone, it will be the turn of industrial production.

At 1200 CET, from the US comes the mortgage report, at 1330 CET it is the turn of the producer price index and retail sales. At 1530 CET the EIA report is released, as well as the Cushing's inventory report.

On the corporate calendar, among the many upcoming results are those of Aeffe, Brunello Cucinelli, Eurotech, I Grandi Viaggi, Saras, Snam, Tamburi, Telecom Italia, and Zignago Vetro.

By Maurizio Carta, Alliance News reporter

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