(Alliance News) - Major European stock markets closed in negative territory Wednesday, except for the London Stock Exchange, with stocks weakening after negative data from the United States.

"Sometimes markets go up when data are negative, because it means rate cuts are coming, and sometimes they go down, because recession fears are rising. Today traders seem to have chosen the latter option," commented Chris Beauchamp, chief market analyst at IG.

"Today's ADP loss--private firms in the U.S. created 145,000 jobs in March, below February's upwardly revised 261,000 and forecast of 200,000--means that Friday's payrolls report will be crucial for stocks. The worst outcome would be a lower jobs number but rising wages, which could overturn rising expectations of a Fed pause in May. Such a development would put equities at risk of losing recent gains."

Thus, the FTSE Mib closes down 0.6 percent to 26,867.39, the Mid-Cap down 0.4 percent to 43,494.47, the Small-Cap gives up 0.5 percent to 29,704.90, while Italy Growth loses 0.1 percent to 9,416.46.

In Europe, London's FTSE 100 is in the green 0.4 percent to 7,662.94, Paris' CAC 40 gives up 0.4 percent to 7,316.30 and Frankfurt's DAX 40 is down 0.5 percent to 15,520.17.

On the main list in Piazza Affari, Snam does best of all, rising 2.7 percent after it announced that the sale of 11.5 million ordinary shares of Industrie De Nora to institutional investors has been completed.

The shares were sold at a unit price of EUR17.08, for a total consideration of EUR196 million. Initially, there were 10 million shares to be sold, but due to high investor demand, this number was increased to 11.5 million.

Also picking up is the entire energy sector, with Terna rising 2.3 percent, Hera gaining 2.2 percent, and Italgas up 2.1 percent.

Among the bearers are Interpump Group, down 6.5 percent, Iveco in the red 5.7 percent, and Pirelli & C down 4.6 percent on the day the accounts are due.

On the Mid-Cap, Iren does well, taking the lead with 4.2% after receiving a EUR150 million loan from the EIB.

The board of Technogym -- in the green by 0.3% -- reported last week that the company in 2022 reported an adjusted profit of EUR66.1 million, up EUR14.9 million from EUR51.2 million in 2021. The board also proposed the distribution of a dividend of EUR0.25 per share for a total of EUR50 million. During the previous fiscal year, the dividend was EUR0.16 per share.

Total consolidated revenues were EUR721 million from EUR611 million in 2021.

Down goes Buzzi Unicem, in the red by 2.6 percent. The company last week reported earnings of EUR458.8 million down from EUR542.3 million in 2021. The board also approved a proposed dividend of EUR0.45 per share, effective May 24, 2023 with an ex-dividend date of May 22, 2023 and "record date" May 23, 2023.

Consolidated sales increased to EUR4.00 billion from EUR3.44 billion in 2021. The positive price effect, the company points out, "more than offset the generalized weakness in sales volumes."

On the Small-Cap, SS Lazio advanced well, posting a plus 3.2 percent following up on the previous two bullish sessions. On the Capitoline club, it is reported that it has announced that it has definitively acquired the right to the sports performance of footballer Diego Luis Gonzalez Alcaraz, from FC Celaya, affiliated with the Mexican Football Federation. The definitive sale includes fixed consideration of EUR1.1 million to be paid in two installments. Premiums, capped at EUR1.5 million will be paid to FC Celaya upon the occurrence of agreed sports conditions.

The Gas Plus board of directors -- down 1.2 percent -- approved the 2022 consolidated financial statements, which closed with a net profit of nearly EUR3.4 million compared to EUR3.1 million in the previous year.

Revenues for 2022 reached EUR235.4 million compared to EUR84.8 million in 2021 with 178% growth.

Monrif is in the green by 1.3 percent after reporting that it approved on Monday its results for the year 2022 reporting a profit of EUR314,000 improving from a loss of EUR3.3 million reported as of Dec. 31, 2021.

Consolidated revenues amounted to EUR157.9 million compared to EUR149.5 million in the previous year, an increase of 5.6 percent.

Vincenzo Zucchi gives up 0.8 percent, after announcing that it has closed the sale of its retail business to its subsidiary Bassetti Italia Srl.

The business unit includes a complex of assets, namely assets and liabilities referring to stores, outlets and outlets, employees, contracts and other legal relations, and its value was determined on the basis of the assets and liabilities of the business unit as of Dec. 31, 2022, and amounts to EUR6.4 million.

Among SMEs, Redelfi gives up 0.4 percent after announcing on Wednesday that it sold a 49 percent stake in Piano Green Srl through its Swiss subsidiary Green Earth SA to Santagata 1907 Spa, which was also a founding partner of Piano Green.

Redelfi, through Green Earth, remains a partner with 10 percent in Piano Green while Santagata 1907 rises to 62.5 percent, FOS Spa remains at 24 percent, and Fabienne Moretta holds the remaining equity stake of about 3 percent.

Retaining a minority stake reflects, however, "the conviction about the goodness of the project carried out by Piano Green, whose aim is to contribute to a more sustainable and productive future, in line with the ESG values shared by Redelfi," Redelfi explained.

Sebino - up 15 percent - reported that Sebino Holding, a vehicle controlled by Seta Holding, has signed a preliminary agreement to take over 85 percent of Sebino.

Subject to the completion of the takeover, a mandatory full takeover bid will be launched on the remaining outstanding shares of Sebino, for a consideration per share of EUR7.20.

Seta Holding is an investment company born from the initiative of international entrepreneurs and investors with more than 30 years of experience in the private equity world, whose current portfolio of Italian companies includes interests in Panini and Golmar Italia, companies that specialize, respectively, in technological solutions for the improvement of banking processes and identity verification, and in professional hygiene products for business customers.

In New York, at the height of trading on Wednesday, the Dow is up 0.2 percent, the Nasdaq gives up 1.3 percent while the S&P 500 is in the red by 0.4 percent.

Among currencies, the euro changes hands at USD1.0922 versus USD1.0955 at Tuesday's close. In contrast, the pound is worth USD1.2474 from USD1.2500 on Tuesday evening.

Among commodities, Brent crude is worth USD84.89 per barrel versus USD83.98 per barrel on Tuesday evening. Gold, on the other hand, trades at USD2,038.75 an ounce from USD2,021.55 an ounce at Tuesday's close.

U.S. crude oil inventories fell by 3.7 million barrels in the week ended March 31, 2023, more than market expectations of a 2.3 million barrel decline, according to the latest U.S. Energy Information Administration report released Wednesday.

In addition, crude oil inventories at the Cushing delivery hub in Oklahoma fell by 970,000 barrels, after a decrease of 1.6 million in the previous period.

On Thursday's economic calendar, data on Japan's foreign investment in equities are due at 0150 CEST.

At 0345 CEST it is the turn of the PMI - Caixin manufacturing index from China and the purchasing managers' index from the services sector.

At 0745 CEST comes the Swiss unemployment rate.

Fifteen minutes later it is the turn of German industrial production, while at 0930 CEST comes data on the construction sector in Italy, Germany, France, the Eurozone and the UK.

Overseas, at 1430 CEST it is the turn of continuing unemployment claims.

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

By Claudia Cavaliere, Alliance News reporter

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