(Alliance News) - On Wednesday, major European stock markets close in positive territory after a day in which renewed optimism from China was the dragging force.

Thus, the FTSE Mib closes in the green 0.4 percent to 33,885.43, the Mid-Cap gains 0.4 percent to 47,004.20, the Small-Cap loses 0.1 percent to 27,625.21, and Italy Growth ends down 0.2 percent to 8,064.07.

In Europe, London's FTSE 100 ends in the red by 0.4 percent, Frankfurt's DAX 40 gives up 0.2 percent, and Paris' CAC 40 is up 0.2 percent.

On the Mib, Leonardo does best of all, in the green by 3.5 percent. The company led the Milan list and "aims for new highs, the day after the approval of 2023 results. Revenues and orders for 2024 are solid, and the defense and security electronics segment continues to drive all the Italian public giant, controlled by the Treasury with a 30 percent stake," wrote Alliance News columnist Francesco Bonazzi.

"The first industrial plan presented by CEO Roberto Cingolani, a plan that goes up to 2028, has evidently pleased the market also because it envisages new alliances, as well as strengthening on European cooperation and warplanes."

"Leonardo intends to continue the alliance with Knds and Mbt for the land sector and with Fincantieri, today traded at EUR0.58 with a 0.17 percent upside, with which it is working in the Orizzonte Sistemi Navali joint venture and in diving. On the space front, on the other hand, forward with programs that see Leonardo engaged with the French Thales, while a new dedicated division is born."

Azimut also rises, up 3.0 percent, preceded by Eni, which closes the podium with a 2.0 percent gain. The company announced Wednesday that it had purchased 706,279 of its own ordinary shares for a total value of EUR10.2 million.

With these purchases, the Six-legged Dog has concluded its share buyback program and, as of today, holds 181.7 million of its own shares, or 5.4 percent of its share capital.

Among the bearers is ERG, which sits on the bottom and gives up 4.9 percent. The company reported Wednesday that reported group net income was EUR179 million compared with EUR379 million in 2022. The adjusted one from continuing operations was EUR226 million compared to EUR129 million in 2022.

The board proposed a dividend of EUR1.00 per share, confirming the previous year's amount.

In 2023, adjusted revenues were EUR741 million, up from 2022 when they were EUR714 million, "thanks to the contribution from the acquisitions made in the second half of 2022 and 2023, the entry into operation of the parks developed internally and entered into operation as of the second half of 2022 and the improved windiness experienced during the period in all geographies, partly offset by sharply declining market prices all countries," the story circulated reads.

On the cadet segment, Tod's rises 0.1 percent after reporting Tuesday that it ended 2023 with revenues up 12 percent year-on-year to EUR1.13 billion from EUR1.01 billion in 2022.

Diego Della Valle, chairman and CEO of the group, said, "These numbers confirm the goodness of the strategy we are following to make our products increasingly special, of great quality and very desirable. The coming years will see us committed to the consolidation of individual brands, and also for this reason we felt it strategically important to share this project with the L Catterton fund by taking the group off the stock exchange, an institution with which we have always had excellent relations."

Fincantieri - in the green by 0.3 percent - and the Qatari Navy announced Tuesday that they had signed a Memorandum of Understanding in Doha with the aim of engaging in a dialogue leading to new contracts for the provision of state-of-the-art education and training courses for Qatari Navy personnel.

The board of MARR -- the fourth-best stock with a 3.4 percent asset -- on Wednesday approved the 2023 annual financial statements today, recording a consolidated net profit of EUR47.1 million, which compares with EUR26.6 million in 2022, which "was affected by higher net financial charges of EUR9.7 million due to the increase in the cost of money as of the second half of 2022," the company wrote in the note.

The board proposed a gross dividend of EUR0.60 per share compared to EUR0.38 in the previous year.

MARR Group closes the 2023 fiscal year with total consolidated revenues at EUR2.08 billion with a growth of EUR155.0 million compared to EUR1.93 billion in 2022.

Reply does best of all by rising 6.3 percent after announcing on Wednesday that it had approved its 2023 fiscal year results, which closed with a profit of EUR186.7 million, down from EUR191.0 million as of Dec. 31, 2022.

The company announced that a dividend of EUR1 per share was approved, confirming the 2022 dividend.

Consolidated revenues stand at EUR2.12 billion from EUR1.89 billion in 2022.

Among the smallcaps, Fiera Milano stands out, rising 5.9 percent after approving the draft financial statements for fiscal year 2023, which closed with a net income of EUR45.5 million, marking a sharp turnaround from the minus EUR5.8 million recorded in 2022.

The board proposed an ex-dividend of EUR0.14 per share. This had been missing since 2020 and was EUR0.13 per share.

Consolidated revenues in 2023 stood at EUR283.8 million, putting it 29% higher than the previous year and surpassing the revenues reported in 2019, confirming that Fiera Milano has surpassed pre-pandemic levels ahead of Italian market expectations.

Mondo TV climbs 4.4 percent after announcing Tuesday the renewal of its partnership with Warner Bros. Discovery Italia thanks to the extension of the rights to MeteoHeroes Sr1, a series sold in more than 130 countries.

CY4Gate - in the red by 1.6 percent - announced Wednesday that it has been awarded a contract on decision intelligence with a foreign institutional client worth EUR850,000 for a one-year term.

Among SMEs, Deodato.Gallery--not affected by trading--reported Tuesday that the board approved a capital increase to service a convertible bond.

The aucap will be EUR1.0 million, servicing 2.0 million convertible bonds worth EUR0.50 each.

Neosperience gives up 3.0 percent after announcing Wednesday the launch of Neosperience Pulse, a solution that harnesses the power of the Digital Twin with generative artificial intelligence.

In New York, the Dow is in the green 0.4 percent to 39,157.24, the Nasdaq gives up 0.5 percent to 16,189.98 and the S&P 500 is in the red 0.1 percent to 5,165,471.61.

Among currencies, the euro changes hands at USD1.9043 against USD1.0916 recorded at Tuesday's European stock close, while the pound is worth USD1.2794 from USD1.2780 on Monday evening.

Brent crude is worth USD83.69 per barrel versus USD82.37 per barrel at Tuesday's close. Gold, meanwhile, trades at USD2,177.75 an ounce from USD2,164.98 an ounce on Tuesday evening.

Thursday's macroeconomic calendar opens at 0101 CET with the RICS statement of UK house prices.

At 0830 from Switzerland comes the producer price index and at 0900 CET the SECO economic forecast.

At the same time in Spain the consumer price index and producer price index are published.

At 1000 CET the monthly report of the IEA is expected. One hour later China publishes data on new mortgages and M2 money supply.

At 1330 CET it is the turn of the US producer price index, retail sales and continuing unemployment claims.

At 1330 CET in Canada, manufacturing sales are published and at 1445 CET the German non-seasonally adjusted current account.

Among the companies listed in Piazza Affari, results are expected from Brunello Cucinelli, Elica, Safilo Group, Tamburi Investment Partners, and Webuild, among others.

By Claudia Cavaliere, Alliance News reporter

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