(Alliance News) - On Wednesday, major European stock markets are expected to be in positive territory according to IG futures on a morning that is expected to be quiet in terms of the release of macroeconomic data and while gold is back trading above USD2,000.

Thus, futures give the FTSE Mib in the red by 0.5 percent or up 132.5 points after closing down 1.0 percent at 27,253.48.

Paris' CAC 40 is expected to be in the red by 40.8 points or 0.6 percent, Frankfurt's DAX 40 is given in the red by 0.4 percent or down 69.0 points, while London's FTSE 100 is expected to be down 0.3 percent or 24.5 points.

On Tuesday, the Mid-Cap gave up 0.7 percent to 43,342.41, the Small-Cap fell 0.7 percent to 29,025.30, and Italy Growth closed down 0.3 percent to 9,253.82.

In Milan, only Inwit, up 1.2 percent, Enel, up 0.5 percent, Campari, up 0.8 percent, and Tenaris, up 0.2 percent, were saved on the main list in Piazza Affari on Tuesday.

At the bottom of the list, UniCredit closed down 2.7 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.

Banca Monte dei Paschi di Siena fell 1.1 percent, reflecting a negative day for the entire banking sector.

Iveco Group also hurt, down 1.8 percent, in the wake of declines across the Agnelli-Elkann galaxy.

Interpump Group, in the red by 0.5 percent, announced the acquisition of a 70 percent stake in I.Mec. The value of the transaction was set at about EUR14 million.

On the Mid-Cap, at the bottom was Juventus FC, which gave up 7.6 percent 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.

Webuild fell 0.7 percent and Tamburi Investment Partners fell 0.9 percent, both coming off purchases related to their respective buyback plans.

Maire Tecnimont rose 0.4 percent. The company announced 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, has been 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.

Arnoldo Mondadori Editore--declining 0.1 percent--reported last week that it had executed a contract to sell its 18.45 percent stake in Società Europea di Edizioni, publisher of the daily Il Giornale, to PBF.

Among the bullish, who were the minority, OVS was up 1.6 percent and Brunello Cucinelli up 0.5 percent.

On the Small-Cap, algoWatt was up 4.6 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 management of maintenance teams at locations throughout Italy.

Bioera is down 3.9 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. Revenue, on the other hand, was EUR626,000 compared to EUR19.8 million in the previous year.

Among SMEs, UCapital24 closed on top with a 58 percent gain after announcing Monday night that the board of directors approved its 2022 results, reporting a net loss of EUR744,000 an improvement of 43 percent from a EUR1.3 million loss in FY2021.

The board also approved a 2023-2025 development plan, indicating total revenues between EUR5.0 and EUR6.0 million. The Ebitda margin is expected to be in the range of 33 percent to 38 percent in 2025, and the Net Financial Position as of 2025 is expected to be cash in the range of EUR1.5 million to EUR2.0 million.

Farmacosmo dropped 1.9 percent after announcing Monday that in the first quarter of 2023 it reported an increase in all major indicators starting with revenues, which rose to EUR18.8 million, up 6.0 percent from the same period in 2022.

Portale Sardegna gave up 2.0 percent after announcing Monday night that 2022 ended with a value of production of EUR8.9 million, up from EUR6.4 million in 2021.

In fact, the board of directors approved the consolidated financial statements as of December 31, 2022 reporting a worsened net loss to EUR500,000 from EUR230,000 in 2021.

Destination Italia dropped by 2.7 percent. On Monday evening, it reported that it had improved all indicators in 2022, with the loss narrowing 52 percent to EUR950,000 from EUR2.0 million in 2021.

Revenue soared, rising 266 percent to EUR27.1 million from EUR7.4 million in 2021.

Esautomotion gained 2.1 percent. Saturday informed that it signed a EUR10.0 million investment agreement and a shareholders' agreement to acquire the business of Sangalli Servomotori, a company active in the electric motors market, through the purchase of the entire share capital of a newly established company.

Take Off gave up 2.4 percent after reporting first quarter revenues of EUR8.3 million, up more than 34 percent from EUR6.2 million as of March 31, 2022.

In Asia, the Nikkei closed in the red 0.6 percent to 28,435.48 and the Hang Seng is rising 1.1 percent to 19,829.76, while the Shanghai Composite is in the green 0.1 percent to 3,269.06.

In New York on Tuesday, the Dow Jones closed in the red 1.0 percent to 33,530.83, the S&P lost 1.6 percent to 4,071.63, while the Nasdaq was down 2.0 percent to 11,799.16.

U.S. President Joe Biden announced Tuesday that he will run for reelection in 2024 "to finish the job."

"Every generation has a time when it has had to defend democracy. To defend their basic freedoms," Biden wrote on Twitter, along with a video. "I believe this is ours. That's why I'm running for re-election as president of the United States. Join us. Let's finish the job."

Biden has no real challenger within the Democratic Party but, in a campaign that could result in a 2020 election rematch against Donald Trump, he is expected to face constant "scrutiny of his age."

Among currencies, the euro changed hands at USD1.0987 versus USD1.0983 at Tuesday's close. In contrast, the pound is worth USD1.2426 from USD1.2401 on Tuesday evening.

Among commodities, Brent crude is worth USD81.13 per barrel USD80.86 per barrel Tuesday evening. Gold, on the other hand, trades at USD2,006.45 an ounce from USD1,986.61 an ounce at Tuesday's close.

Wednesday's macroeconomic calendar includes the release of the French household confidence index at 0845 CEST and data on job seekers in France at 1200 CEST.

For the US, mortgage market data will be released at 1300 CEST, goods order data at 1430 CEST, and crude oil stocks data at 1630 CEST. The day will end with a five-year T-Note auction at 1900 CEST.

Among companies listed on the Milan Stock Exchange, only Mittel's results are expected.

By Claudia Cavaliere, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.