(Alliance News) - On Wednesday, Piazza Affari closed in the red, still holding the 27,100-point level, with European trading rooms continuing to assess important corporate quarterlies and weighing the possibility of a slowdown in global growth.

In addition, uncertainty over the ECB's next moves kept market sentiment fragile, where even in Milan - especially in the banking sector - the selling side prevailed as we await the Eurotower's next meeting, preceded by the Federal Reserve next week.

Thus, the FTSE Mib closed in the red 0.5 percent to 27,107.51, the Mid-Cap down 0.3 percent to 43,214.18, the Small-Cap gave up 0.3 percent to 28,931.49 and Italy Growth down 0.4 percent to 9,219.62.

In Europe, Paris' CAC 40 closed down 0.9 percent, London's FTSE 100 in the red by 0.5 percent while Frankfurt's DAX 40 gave up 0.5 percent.

In Milan, on the main list of Piazza Affari, among the best was Pirelli & C, in the green since the bell rang, which finished up 0.8 percent.

Also among the few bullish performers is Amplifon, which posted a plus 1.2% closing at EUR33.45.

At the bottom of the list, as anticipated, large presence of banks. Banco BPM gives up 5.3%, losing for the third consecutive session.

BPER Banca, on the other hand, closes in the red by 6.8 percent, positioning itself as the list's worst performer.

UniCredit, which already closed in the tail down 2.7 percent on Tuesday, loses 2.0 percent. The bank announced Tuesday that it had purchased 10.2 million of its own shares between April 17 and April 21, 2023. The shares were purchased at an average price of EUR19.4380 for a total value of EUR199.0 million.

On the Mid-Cap, decline for PharmaNutra, which closed down 4.2 percent. There was high trading volume on the stock, with 18,800 pieces changing hands compared to a three-month daily average of about 6,000.

Juventus FC gives up 3.3 percent after falling 7.6 percent on Tuesday on reports that UEFA, whatever the outcome of the sports trial in Italy, is considering exclusion from European cups for the Bianconeri for next season.

Maire Tecnimont closed in the green by 0.9 percent. The company reported Friday that its subsidiary NextChem, part of the Sustainable Technology Solutions business unit, after completing the advanced engineering study for methanation for the Salamandre project in Normandy, was awarded a new contract by Storengy to perform an additional advanced engineering study for gasification of wood waste and purification of synthesis gas system to produce biomethane.

Marr, on the other hand, closed on a positive note, rising 2.3 percent after the previous session's gain, albeit by 0.1 percent.

Alerion also did well, bringing home a plus 0.8% after four bearish sessions.

On the Small-Cap side, positive note for Fila, which rises 5.8% and rears its head again after four sessions on the bearish side.

algoWatt gives up 6.5 percent. The company announced Monday that it has entered into an "important framework agreement with a leading Italian credit institution," for the evolutionary and corrective maintenance of remote control solutions for technological systems and the management of maintenance teams at locations throughout Italy.

Borgosesia, on the other hand, brings home 4.7 percent, with the stock at EUR0.80. The stock on the MarketScreener platform has a target price-expressed by a single analyst-of EUR1.50.

Bioera gives up 8.0 percent after announcing Friday evening that the board of directors approved the financial statements as of December 31, 2022, reporting a group loss of EUR4.1 million compared to a profit of EUR15.3 million in fiscal year 2021. On the other hand, revenues amounted to EUR626,000 compared to EUR19.8 million in the previous year.

Autostrade Meridionali, on the other hand, retreats more than 15 percent, bringing its weekly liabilities to more than 35 percent.

Among SMEs, ILBE closed ahead 4.7 percent after a 0.6 percent loss on the eve.

High Quality Food also had a good session, posting a modest 0.9%, but rearing its head after eight bearish sessions.

Farmaé contracted 7.6 percent, following up on the previous session's 3.3 percent loss that closed.

In New York, the Dow Jones is just below par, the S&P is picking up 0.3 percent, and the Nasdaq is up 1.2 percent.

Among currencies, the euro changes hands at USD1.1052 versus USD1.0983 at Tuesday's close. In contrast, the pound is worth USD1.2486 from USD1.2401 on Tuesday evening.

Among commodities, Brent crude is worth USD80.75 per barrel USD80.86 per barrel Tuesday evening. Gold, on the other hand, trades at USD1,994.05 an ounce from USD1,986.61 an ounce at Tuesday's close.

Crude oil inventories in the U.S. released Tuesday evening by the American Petroleum Institute fell by 6.0 million barrels in the week ended April 21, beating market expectations for a drop of 1.667 million and following the previous week's drop of 2.675 million barrels, according to data from API's weekly statistical bulletin.

Thursday's macroeconomic calendar includes, at 1000 CEST, the release of Italian business confidence data while, at 1100 CEST, the same data will come for the Eurozone. At 1100 CEST, an auction of five- and 10-year BTPs will be held.

From the US, at 1430 CEST, eyes on Gross Domestic Product and unemployment claims data. At 1815 CEST, a speech by Panetta of the ECB is scheduled.

Among the companies in the Piazza Affari, results from Elica, Eni, Franchi Umberto Marmi, Next Re, STMicroelectronics and TraWell are expected.

By Maurizio Carta, Alliance News reporter

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