(Alliance News) - European exchanges, according to the futures market, are expected to open lower on Tuesday. Maximum focus on what happens in Japan, where the yen, in trading against the dollar, is trading in the JPY128.86 area, down slightly from the previous day.

The Japanese currency is weakening ahead of a key monetary policy announcement by the Bank of Japan on Wednesday, in which there is speculation that the BoJ may suspend its yield curve control policy. The BoJ bought more than JPY2 trillion--about USD15.6 billion--of government bonds Monday ahead of its meeting, the Nikkei reported.

The yield on the 10-year government bond rose above the BoJ's target of 0.5 percent. It was the second consecutive day that the yield strayed above the central bank's target.

In macro news, China's economy unexpectedly showed no growth in the three months ended December, compared with market consensus of a 0.8 percent contraction and after a 3.9 percent expansion in the third quarter. The data were released Tuesday by the National bureau of statistics China. The latest result underscored Beijing's sudden economic reopening in December after rare protests against tight restrictions in several major cities, including Beijing and Shanghai.

Thus, futures on the FTSE Mib are giving up 15.00 points after closing up 0.5 percent at 25,901.33 Monday evening.

Among other European exchanges, London is marking a 3.50-point red, Paris is retreating 5.20 points while Frankfurt is marking a minus 9.50 points.

Among the smaller listings Monday night, the Mid-Cap rose 0.5 percent to 42,244.27, the Small-Cap gained 0.7 percent to 29,449.76 and Italy Growth finished up 0.3 percent to 9,523.31.

The FTSE 100 closed in the green by 0.29 percent, Paris' CAC 40 finished up 0.3 percent and Frankfurt's DAX 40 gained 0.4 percent.

On the main list in Piazza Affari, Banco BPM led the way, up 4.2% closing at the top of the list. On the stock, it is reported that Redburn which raised its recommendation on the stock to 'buy'. In addition, the bank announced Monday that it has signed a EUR5 million financing agreement to benefit Mare Group, a company that has been in business for more than 20 years and focuses on innovation through new industry-enabling technologies.

The financing is in addition to transactions already underway to support Mare Wave, the multi-year growth plan designed to enable investments of up to EUR80 million and which, already underway, is rapidly accelerating Mare Group's evolution domestically through acquisitions, organic growth and the introduction of a new scalable business model.

Telecom Italia -- up 3.3 percent -- announced Monday that Vivendi CEO Arnaud De Puyfontaine has resigned as a member of TIM's board of directors, effective immediately.

Arnaud De Puyfontaine, reads a company note, explained "how, at this stage of constructive dialogue between TIM's main shareholders and the institutions under the leadership of the new government, it is essential that all parties are free to work constructively and transparently in the interest of the company and all its shareholders."

Also doing well was Saipem, up 2.7 percent, while parent company Eni, on the other hand, gave way, down 0.7 percent. The Six-legged Dog announced over the weekend a major new gas discovery in the Nargis-1 exploration well in the "Nargis Offshore Area" concession in the eastern Mediterranean Sea, offshore Egypt. The Nargis-1 well, drilled in 309 meters of water by the Stena Forth drillship, encountered about 61 meters of Miocene and Oligocene sandstones containing gas. The discovery may be developed by taking advantage of its proximity to existing Eni infrastructure.

Snam, on the other hand, advanced 1.5 percent to EUR4.93. Deutsche Bank raised its target price on the stock to EUR5.20 from EUR5.00.

On the cadet segment, WIIT -- in the green by 2.9 percent -- reported Monday that its German subsidiary myLoc managed IT has signed an agreement to purchase 100 percent of the share capital of Global Access Internet Services.

The enterprise value is about EUR6.2 million, subject to adjustments related to the company's net financial position and working capital as of Dec. 31, 2022. Eighty percent of the amount due was paid at closing, while the remaining 20 percent was deposited in an escrow account to secure the adjustments expected after the 2022 closing.

Alerion stretched 2.7 percent bringing the price to EUR32.35 per share. The company took over 6,021 treasury shares from January 9 to 13, 2023 for a total value of EUR189,628.91.

Webuild -- in the money with 3.6 percent -- reported Monday that its U.S. subsidiary Lane was awarded a USD218 million contract to increase capacity and improve mobility and safety at the intersection of Interstate 4 (I-4) and Sand Lake Road (State Road 482) in Orange County, Florida. The intersection is part of the well-known Orlando tourism corridor that connects some of Central Florida's most important attractions, such as Universal Studios, Sea World, and Walt Disney World.

LU-VE Group -- up 0.2 percent -- on Monday reported key results for the year 2022, reporting revenues generated as of December 31, 2022 of EUR605 million, up 25 percent from December 31, 2021. On a like-for-like basis, the growth would have been 2.3%.

In addition, the company reported that the order backlog as of December 31, 2022 amounted to EUR188.8 million, up 4.8 percent from December 31, 2021. On a like-for-like basis there would have been a decrease of 4.5%.

Salvatore Ferragamo also rose, marking a plus 1.3 percent to EUR17.75. On the stock, Bank of America raised its fair value to EUR14.00 from EUR12.00.

On the Small-Cap, GPI rose 0.7 percent after it reported that the company-led Temporary Grouping of Companies won the tender for the implementation of the Lombardy Region's regional electronic medical record.

The EUR32.7 million contract, the company explained in a note, calls for the supply of CCE's application solution based on a single technology platform extended to all 19 Lombardy Regional Health Authorities. GPI's 38 percent share is worth about EUR12.4 million.

Also moving on the uptowns is algoWatt, in the green by 3.8 percent at the close. The company announced Monday that it has obtained a EUR275,000 grant for activities as a digital energy solution provider and system integrator under the Thumbs Up project "Thermal energy storage solUtions to optimally Manage BuildingS and Unlock their grid balancing and flexibility Potential."

Among the bearish, Bastogi slipped 0.6 percent. There was high trading volume on the stock, marking over 21,000 against a three-month average of about 7,300.

Among SMEs, Digital Magics - in the green by 1.8 percent - reported Monday that it has obtained international "Benefit corporation" or B-Corp certification.

DBA Group - in the black by 1.0 percent - announced Monday that it has begun a share buyback program of up to 350,000 shares.

The purchases are to be made by Dec. 28, 2023, and will be used by the company to equip itself with a package of shares useful for industrial or extraordinary finance transactions.

Among Asian exchanges, the Hang Seng is giving up 1.2 percent, the Shanghai Composite has left 0.2 percent on the parterre, while the Nikkei is up 1.2 percent.

Among currencies, the euro changed hands at USD1.0818 versus USD1.0823 at Monday's close. In contrast, the pound is worth USD1.2192 from USD1.2204 on Monday evening.

Among commodities, Brent crude is worth USD84.60 per barrel from USD84.03 per barrel last night. Gold, meanwhile, trades at USD1,908.47 an ounce from USD1,917.95 an ounce last session.

Tuesday's economic calendar continues with the consumer price index for Italy, due at 1000 CET, while at 1100 CET, it is the turn of the ZEW index of German economic conditions in Germany. At the same time, the ZEW confidence sentiment for the Eurozone is released.

At 1300 CET, the OPEC monthly report is expected.

In the afternoon, data on inflation, foreign bond buying, and foreign bond buying will arrive from Canada.

Among the companies listed in Piazza Affari, the results of Gibus are expected.

By Maurizio Carta, Alliance News reporter

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