(Alliance News) - On Wednesday, major European stock markets have little momentum on a morning that started calmly on the macro data front, while Milan -- pink jersey at the opening -- awaits those on retail sales.

Thus, the FTSE Mib is in green by 0.1 percent at 27,790.24, the Mid-Cap is in fractional red at 44,801.76, the Small-Cap is up 0.2 percent at 30,501.56, and Italy Growth is down 0.1 percent at 9,457.17.

In Europe, Paris' CAC 40 is in the red by 0.2 percent, London's FTSE 100 is down 0.3 percent, and Frankfurt's DAX 40 is just below par.

In macroeconomic news, retail sales in Germany fell 0.3 percent month-on-month in January 2023, following a 5.3 percent slump in December and compared to market forecasts of a 2.0 percent increase, as high inflation and uncertainty weigh on consumer mood.

From Japan, the service sector sentiment indicator rose 3.5 points from the previous month to 52.0 in February 2023, according to the Economy Watchers' Survey Wednesday.

This is the highest value since last June and the first improvement in four months, thanks to increases in manufacturing and employment.

On the main list, down go the oils with Tenaris doing worst of all with a 2.4 percent drop, Eni down 0.8 percent while Saipem is in the green by 1.3 percent. Of note, on the latter, Voleon Capital Management raised its short position to 0.61 percent from 0.55 percent.

Mediobanca - in the red by 0.5 percent - on Tuesday concluded the placement of a senior preferred bond with a 5-year maturity in March 2028 and a call option scheduled after 4 years for a total amount of EUR750 million.

The bond, priced at a level of 4.865 percent, corresponding to MS+137bps, registered orders of more than EUR1.75 billion during the placement.

Azimut Holding gives up 0.7 percent, after announcing Tuesday that it recorded positive net inflows of EUR1.6 billion in February 2023.

During the month, the group completed the acquisition of Kennedy Capital Management, a leading U.S. small and mid cap equity manager, to further consolidate its presence in the United States.

The acquisition contributed about EUR1.3 billion to aum, reflecting Azimut's current 35 percent share in the business.

Banca Mediolanum rises 0.5 percent after reporting Tuesday that it posted net inflows of EUR1.46 billion in February, bringing its total for the first two months of 2023 to EUR2.15 billion. Managed assets net inflows are EUR526 million, bringing the total since the beginning of the year to EUR1.01 billion, while new loans disbursed in February amounted to EUR266 million, bringing the cumulative to EUR498 million. Protection policy premiums rise to EUR14 million in February from EUR13 million in January.

On the mid-cap, Fincantieri's board of directors -- down 6.1 percent -- announced Tuesday that it had approved the draft financial statements as of Dec. 31, 2022, reporting a negative EUR324 million operating result from EUR22 million on Dec. 31, 2021, after discounting charges outside ordinary operations or nonrecurring of EUR238 million, of which EUR164 million were non-cash.

Adjusted operating income for fiscal year 2022 was a negative EUR108 million from a positive EUR92 million in 2021.

Revenue and income amounted to EUR7.48 billion from EUR6.91 billion in the same period last year.

Ascopiave's board of directors -- down 0.7 percent -- on Tuesday approved the draft financial statements for fiscal year 2022, which closed with a consolidated net result of EUR32.4 million, showing a reduction of EUR12.9 million compared to the previous year, thus a 28 percent decrease, "mainly due to the decrease in the results of the investee EstEnergy," the company specified in the released note. The board proposed the distribution of a dividend of EUR0.13 per share.

Anima Holding -- in the red by 0.1 percent -- reported Monday that net inflows of assets under management in February 2023 were positive EUR383 million, with a negative assets under management component of EUR90 million and one related to class I insurance proxies positive EUR373 million.

On the Small-Cap, the board of directors of Caltagirone Editore-which is not yet affected by trading-announced Tuesday that it had approved the draft financial statements for the year ended Dec. 31, 2022, which closed with a group net profit was EUR7 million, down from the EUR28.7 million profit in 2021. The board of directors resolved to propose a dividend of EUR0.03 for each of the 106.8 million outstanding shares.

Revenues amounted to EUR118 million from EUR122.7 million in the previous year, down 3.8 percent due to a decline in publishing revenues partly mitigated by growth in other revenues.

TXT e-solutions -- in the red by 1.1 percent -- announced Monday that it had been awarded Lot 2 of the open tender for cloud application services and demand and pmo services for central public administrations.

Among SMEs, Visibilia Editore goes to the volatility auction after a rise of about 14 percent, after it announced on Tuesday that its board of directors approved the draft financial statements and consolidated financial statements as of December 31, 2022, which closed with a loss for the year of EUR644,203, while in 2021 the loss had been EUR3.5 million.

Gismondi 1754 rises 0.8 percent after announcing on Tuesday a distribution agreement with Restivo Gioielli Spa, the Italian dealer of leading jewelry and watch houses.

By spring of this year, Gismondi 1754 jewelry will, therefore, be available in Restivo stores in Catania, Taormina and Naples.

In Asia, the Nikkei closed Wednesday up 0.5 percent to 28,444.19, the Shanghai Composite fell 0.1 percent to 3,283.25 and the Hang Seng closed down 2.4 percent to 20,051.25.

In New York, the Dow lost 1.7 percent yesterday to 32,856.46, the Nasdaq gave up 1.3 percent to 11,530.33 while the S&P 500 closed 1.5 percent in the red to 3,986.37.

Among currencies, the euro changed hands at USD1.0544 versus USD1.0579 at Tuesday's close. In contrast, the pound is worth USD1.1827 from USD1.1856 on Tuesday evening.

Among commodities, Brent crude is worth USD83.11 per barrel versus USD84.10 per barrel Tuesday night. Gold, meanwhile, trades at USD1,818.15 an ounce from USD1,820.67 an ounce at Tuesday's close.

On Wednesday's calendar, at 1000 CET comes Italian retail sales and, at 1100 CET, Eurozone Gross Domestic Product.

At 1300 CET, it will be the turn of the rate and mortgage applications from the US while, at 1415 CET, it will be the turn of the change in agricultural employment, followed, at 1430 CET, by the trade balance.

From 1600 CET onward, Federal Reserve Chairman Powell's congressional hearing will be held, while at 1600 CET there will be the interest rate decision by the Bank of Canada.

At 1630 CET the EIA and Cushing oil stocks.

Among companies, however, results from Banca Generali, Banca Monte dei Paschi di Siena, BFF Bank and Italmobiliare are expected.

By Claudia Cavaliere, Alliance News reporter

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