(Alliance News) - Piazza Affari is Europe's black jersey in mid-day trading Wednesday, with the Mib sunk by volatility-locked banks and oil stocks continuing to suffer as overseas Brent crude fell below USD 78.00 a barrel.

The FTSE Mib is thus 3.4 percent in the red at 25,896.56. Among the smaller listings, the Mid-Cap is down 2.8 percent to 41,892.36, the Small-Cap gives up 2.2 percent to 29,679.78, and Italy Growth gives up 0.9 percent to 9,308.41.

Paris' CAC 40 gives up 2.6 percent, London's FTSE 100 is giving up 2.2 percent and Frankfurt's DAX 40 is in the red 2.1 percent.

Of note, industrial production rose 0.7% month-on-month in January after falling 1.3% in December and increased 0.9% after falling 2.0% in the previous month.

In Italy, on the other hand, Italian general government debt was EUR2,756.5 billion in January, down EUR6.0 billion from December, the Bank of Italy reported Wednesday.

The decrease from December's figure reflects lower Treasury liquidity of EUR8.8 billion, to EUR34.7 billion, partially offset by the requirement of EUR1.8 billion and the effect of issuance and redemption discounts and premiums, the revaluation of inflation-indexed securities and the change in exchange rates of EUR1.0 billion.

On the main list in Piazza Affari, there are fewer bullish stocks, limited now to ERG, in the green by 1.9 percent boosted by its accounts, Enel up 0.6 percent, and Telecom Italia, which advances 0.4 percent.

ERG on Tuesday approved draft financial statements as of December 31, 2022 reporting a net profit of EUR383.0 million up from EUR174.0 million in 2021. The board also proposed dividend of EUR1.00 up from EUR0.90 in 2021.

Revenues for 2022 are EUR714.0 million up from EUR601.0 million in 2021.

Ebitda is EUR499.0 million from EUR397.0 million in the previous year.

Bankers end up at the tail again, with Banco BPM in the red by 5.5 percent, BPER Banca, Banca Generali, and Banca Mediolanum stuck due to volatility as they all lose about 4.7 percent.

Also among the worst performers are FinecoBank, Intesa Sanpaolo, and Nexi, which give up 2.9%, 2.1%, and 2.0%, respectively.

Things are no better in the oil sector as the price of Brent continues to fall: Tenaris gives up 3.3 percent, Saipem 2.5 percent, and Eni 1.5 percent.

On the Mid-Cap, Banca Popolare di Sondrio gives up 4.3 percent after a positive opening. It reported Tuesday that the agency Scope Ratings, upon completion of its annual rating review process, upgraded the issuer rating assigned to the bank to investment grade "BBB" from the previous investment grade "BBB-."

The outlook was revised to "stable" from "positive."

Other bankers also suffered, with Credem down 4.9 percent and Banca Monte dei Paschi di Siena stuck by volatility at minus 6.6 percent.

Intercos Group - up 4.6 percent - is still among the best performers after approving on Tuesday its draft financial statements for fiscal year 2022 and consolidated financial statements as of December 31, 2022, reporting a net profit of EUR45.0 million, almost doubled from 2021 when it was EUR26.5 million.

Better does only MARR, which after opening up 7.6 percent, jumps to 10 percent.

Sanlorenzo advances 1.2 percent after reviewing and approving on Tuesday its consolidated and draft financial statements as of December 31, 2022, reporting a net income of EUR74.7 million up from EUR51.4 million in 2021.

Net revenues amounted to EUR740.7 million up 26 percent from EUR585.9 million in the previous year.

In addition, the company on Wednesday approved the new 2023-2025 plan that is based on high single-digit revenue growth, increase in Ebitda margin to 19.5 percent or more and investments of maximum EUR155 million.

On the small-cap side, LVenture is still down 2.2 percent after reporting that it closed 2022 with a loss of EUR2.7 million, which compares with net income of EUR1.7 million in the previous year.

Revenues and other income amounted to EUR6.5 million, up 24 percent from EUR5.3 million as of Dec. 31, 2021.

Landi Renzo is flat at EUR0.56 per share after opening in the red with a 1.4 percent decline. The company saw revenues grow in 2022 but losses widen, with the net loss of EUR14.3 million comparing with net income of EUR502,000 in 2021.

Gabetti Property Solutions advances 1.7 percent after announcing Tuesday that, through its Gabetti Home Value division and on-site partner Gabetti Middle East, it has signed an agreement with Ellington Properties to market to Italian clients eight properties located in Dubai worth more than EUR100 million.

Orsero drops 3.3% after accounts. The board approved the financial report as of December 31, 2022, which closed with a net profit of EUR32.5 million with a considerable increase of EUR14.0 million compared to EUR18.5 million in fiscal year 2021. The board also proposed the distribution of a dividend of EUR0.35 per share, up nearly 17 percent on 2021.

The board of directors of Aeroporto Guglielmo Marconi di Bologna -- down 2.2 percent -- on Tuesday approved the draft financial statements for the year and the consolidated financial statements as of December 31, 2022, reporting a profit of EUR31.1 million compared to a loss of EUR6.7 million in 2021 and a profit of EUR20.9 million in 2019.

In 2022, consolidated revenues will stand at EUR134.6 million with a growth of EUR76 million compared to 2021, marking a growth of 130 percent, and 7.5 percent compared to 2019.

The board of directors of Biesse -- in the red by 7.7 percent -- on Tuesday approved the financial report for 2022, which ended with a net profit of EUR30.3 million, compared to EUR34.2 million in 2021, representing a net profit per share of EUR1.11. The board also proposed the payment of a gross dividend of EUR0.33 per share.

Consolidated net revenues were EUR822.4 million, up nearly 11 percent from 2021 and more than 28 percent from 2020. In 2021, the figure was EUR742.2 million.

Among SMEs, Cover 50 salde 0.8 percent after reporting Wednesday that 2022 revenues and Ebitda were up double-digit percent from the previous year's figures.

Revenues rose 24 percent to EUR30.1 million from EUR24.3 million in 2021. The men's line still accounts for the vast majority of sales: PT Torino about 58 percent of revenues, PT Torino Denim about 26 percent while the women's line about 9 percent of total revenues. Sales of the "total look," at about 7% of revenues, also contributed to the excellent performance for the period.

High Quality Food rises 4.0 percent after reporting Tuesday that the board approved the draft operating and consolidated financial statements for the year ended Dec. 31, 2022, with a profit of EUR367,000 compared to the annual result of minus EUR1.0 million as of Dec. 31, 2021.

Almawave is flat at EUR4.70 per share after approving on Tuesday the consolidated financial statements as of December 31, 2022, which ended with a profit of EUR4.8 million, up from EUR3.4 million in 2021. Revenues were EUR47.9 million, up 46 percent from 2021 when they were EUR32.8 million.

Ebitda for 2022 rises to EUR115.9 million from EUR82.9 million, thus up 40 percent.

In New York on European night, the Dow closed in the green 1.1 percent to 32,155.40, the Nasdaq up 2.1 percent to 11,428.15 while the S&P 500 rallied 1.7 percent to 3,919.29.

Among currencies, the euro changed hands at USD1.0638 versus USD1.0715 at Tuesday's close. In contrast, the pound is worth USD1.2079 from USD1.2153 on Tuesday evening.

Among commodities, Brent crude is worth USD77.49 per barrel versus USD78.66 per barrel on Tuesday evening. Gold, meanwhile, trades at USD1,907.88 an ounce from USD1,906.39 an ounce at Tuesday's close.

On Wednesday's economic calendar, 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.

By Chiara Bruschi, Alliance News reporter

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