(Alliance News) - On Wednesday, major European stock markets close in positive territory -- except for the FTSE 100 for the second day in a row -- while U.S. stock markets open lower again, weighed down by weak retail sales data.

"Markets are well pleased to see inflation fall, but weaker U.S. retail sales is hardly music to their ears. With earnings season just beginning, such weak economic data bodes ill for corporate performance, at least in the coming quarters. Moreover, Fed member Bullard's comments suggest that we have not yet seen the end of the 50 basis point rate hike and that perhaps it is best to err on the side of caution," commented Chris Beauchamp, chief market analyst at IG.

"Stocks continue to wonder what the next driver of the rebound will be. For the time being, it seems investors continue to focus on inflation. But with allocations to U.S. stocks at two-decade lows, there is a chance for a rebound at least in the first half of the year if earnings are better than expected overall."

The FTSE Mib closed up 0.3 percent to 26,052.39, the Mid-Cap up 1.1 percent to 42,901.55, the Small-Cap was up 0.6 percent to 29,687.74, and Italy Growth rallied 0.2 percent to 9,581.13.

In Europe, London's FTSE 100 fell 0.3 percent, Paris' CAC 40 gained 0.1 percent and Frankfurt's DAX 40 was in fractional green.

On the main list in Piazza Affari, oil stocks lead the way, with Tenaris and Saipem up 4.2% and 7.1%, respectively. Oil prices posted strong gains Wednesday on the back of hopes of an economic recovery in China, one of the world's largest energy consumers, and showing traders' good mood about the improved global economic outlook.

Also keeping the Agnelli family's affairs in the news. Members of Juventus Football Club -- on the Mid-Cap -- have appointed new members to the company's board of directors, the club announced Wednesday after Andrea Agnelli also resigned from the boards of Exor and Stellantis.

Fioranna Vittoria Negri, Maurizio Scanavino, Gianluca Ferrero, Diego Pistone and Laura Cappiello join the board. Negri and Cappiello are independent directors. The board of directors meeting after the shareholders' meeting then appointed Gianluca Ferrero as chairman of the board and Maurizio Scanavino as chief executive officer.

Just among the Agnelli Galaxy stocks we see Ferrari in the green by 0.6, CNH Industrial up 0.7 percent, Iveco gaining 1.7 percent, and Stellantis in the red by 0.7 percent.

On the latter, recall that car sales in December ran counter to the performance of the European market, where registrations were up about 13 percent. As data from ACEA, the European Automobile Manufacturers' Association, showed Tuesday, the merged giant of PSA Groupe and Fiat Chrysler Automobiles posted a 10 percent drop in sales in December, having registered 159,425 cars compared to 177,712 in December 2021, with market share falling to about 15 percent from about 19 percent.

Azimut Holding -- in the black by 0.2 percent -- said Wednesday that based on preliminary results and early forecasts, it expects to close fiscal year 2022 with a net profit of between EUR395 million and EUR405 million, in line with the target provided to the market of at least EUR400 million under normal market conditions, despite the difficult environment throughout the year.

Total net inflows for 2022 amount to EUR8.5 billion, exceeding the upper limit of the guidance set at the beginning of the year of EUR6-8 billion.

On the Mid-Cap, good buying on Webuild, which raises 8.1 percent. Mirabella Financial Services initiates a short position at 0.68% on the stock.

Tinexta marks a decline of 0.5 percent. The company announced Wednesday the signing of a binding agreement to acquire a 65 percent stake in Ascertia through its subsidiary InfoCert.

The transaction involves the purchase of 65 percent of Ascertia's capital for a consideration of EUR18.3 million plus Net Financial Position, which corresponds to an enterprise value of the company of EUR28.2 million.

OVS gives up 0.1 percent. The company presented an investment project concerning the creation of a technological innovation hub and a multifunctional center with a view to sustainability and circular economy.

On the Small-Cap, with regard to the tender offer launched by Nova for its own shares, DeA Capital announced Monday that Morrow Sodali will act as Global Information Agent in order to provide information regarding the offer to all holders of DeA Capital's ordinary shares. The company's stock closes flat at EUR1.48 per share.

algoWatt gives up 1.8 percent after announcing Monday that it has obtained a EUR275,000 financing for activities as a digital energy solution provider and system integrator under the Thumbs Up project "Thermal energy storage solUtions to optimally Manage BuildingS and Unlock their grid balancing and flexibility Potential."

Among SMEs, Fope closes unchanged at EUR30.00 per share after reporting that 2022 revenues rose 54 percent year-on-year to EUR62.2 million from EUR40.3 million a year earlier.

The figure marks even greater growth when compared with that of the last fiscal year before the arrival of Covid-19, 2019, recording a 78 percent improvement in revenues from EUR35.5 million.

Gibus gives up 3.0 percent despite the board of directors approving consolidated operating results as of Dec. 31, 2022, reporting revenues of EUR84.0 million, up about 16 percent from EUR72.7 million in the same period last year.

Alfonsino, on the other hand, rises more than 28 percent. The company reported Tuesday that it reported revenues of EUR4.6 million in 2022, up 17 percent from EUR3.9 million a year earlier. Orders, on the other hand, rose 20 percent year-on-year to 550,000.

In New York, at the height of trading, the Dow is down 1.0 percent to 33,565.77, the Nasdaq is down 0.6 percent to 11,028.85, and the S&P 500 gives up 0.8 percent to 3,960.82.

Among currencies, the euro changes hands at USD1.0817 versus USD1.0806 at Tuesday's close. In contrast, the pound is worth USD1.2362 from USD1.2277 last night.

Among commodities, Brent crude is worth USD87.14 per barrel from USD85.58 per barrel last night. Gold, meanwhile, trades at USD1,913.85 an ounce from USD1,914.15 an ounce last session.

Thursday's economic calendar opens in Asia at 0050 CET with data on Japan's seasonally adjusted trade balance, data on exports and imports, foreign bond buying, and foreign investment in equities.

At 0101 CET, in the UK, it is the turn of the RICS housing price balance.

In Europe, at 0830 CET, comes the producer price index for Switzerland, while at 0900 CET, meetings of the World Economic Forum in Davos begin.

At 1000 CET, the Spanish trade balance is expected, while at the same time Eurozone current account and seasonally adjusted current account data are released.

Again, in the UK, at 1030 CET, comes the BoE's credit conduction survey and labor productivity data.

At 1130 CET, ECB President Lagarde is scheduled to speak, while two hours later the European Central Bank publishes the minutes of the meeting concerning monetary policy decisions.

Overseas, at 1430 CET, data on continuing unemployment claims, data on building permits and the opening of new construction sites are expected.

Between 1630 CET and 1700 CET, data on natural gas storage, crude oil stocks and crude oil imports arrive.

Among companies listed on the Stock Exchange, no special events are expected.

By Claudia Cavaliere, Alliance News reporter

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