(Alliance News) - On Wednesday, as oil prices move further lower, major European stock markets close in positive territory on another day that puts them well above the U.S. in early 2023, according to Chris Beauchamp, chief market analyst at IG.

"One session is a fluke but two could be a trend. At least, that's what many investors are hoping for regarding the relationship between U.S. and European equities. After years when it was madness to buy only U.S. stocks, there are signs that non-U.S. stocks are making a comeback. Although U.S. stocks were held in check today because of the Fed minutes and employment data, it appears that investors are much more likely to put their money on this side of the Atlantic."

"Another day of heavy losses for oil prices as well, as it appears that OPEC actually increased production in December. This seems to be totally at odds with the broad expectation of a recession this year, and although we will find out who was right in due course, it certainly does not do much for those hoping for an oil recovery. Much depends on tonight's Fed minutes and the rest of the week's U.S. data; if the end result is a weakening dollar, oil could get another boost."

Thus, the FTSE Mib closed up 1.7 percent to 24,860.56, the Mid-Cap gained 1.0 percent to 40,673.88, the Small-Cap rose 0.3 percent to 28,299.98, and Italy Growth finished up 0.3 percent to 9,398.14.

The FTSE 100 closed up 0.4 percent while Paris' CAC 40 rose 2.4 percent and Frankfurt's DAX 40 picked up 2.1 percent.

On the main list in Piazza Affari, Telecom Italia took the lead, up 4.2 percent, followed by UniCredit, the best among banks, which marked a 3.7 percent gain.

Also doing well are Enel and Hera, both in the green by 3.6 percent.

In the red, however, the oil sector, with Tenaris the tail-end and down 7.1 percent. Saipem gives up 3.1 percent while ERG drops 2.8 percent. Eni closes 1.5 percent in the red.

Also on the Mid-Cap, the color green continues to prevail, with Juventus FC again confirmed in the high quarters and closing up 1.6 percent.

PharmaNutra rises 2.4 percent after announcing the signing of three new international commercial agreements for the distribution of products from the SiderAL® and Cetilar® lines in the Indonesian Republic, Kuwait, and Mexico.

With the signing of these new contracts, the PharmaNutra Group currently has 47 distributors in 70 countries across Europe, Asia, Latin America and Africa.

Webuild picks up 2.1 percent after the 0.6 percent red on eve. On Monday it disclosed that in the week of Dec. 28 and Dec. 30, 2022, inclusive, it purchased 40,500 shares of its own common stock.

The shares were taken over at an average price of EUR1.3837 per share for a total value of EUR56,040.74.

Anima Holding picks up 1.7 percent. The company announced Friday that it is continuing its partnership with the Crédit Agricole Italia group, adapting as necessary the previous agreement linking Anima and Credito Valtellinese.

The revision, as Anima explained in a note, became appropriate following the merger of Credito Valtellinese into Crédit Agricole Italia, effective April 24, 2022.

The agreement maintained the original term to the end of 2027. CAI and Anima intend to preserve the industrial value of the partnership, related to the stability of assets under management.

Zignago Vetro - up 2.5 percent - announced Tuesday that it has lost its Small and Medium Enterprise status as the transitional regime that changed the definition of SME, eliminating the reference to the turnover parameter, has come to an end.

On the Small-Cap, Trevi Finanziaria Industriale gives up 0.3 percent after closing down 0.8 percent. The company announced Monday that the period for the exercise of option rights relating to the offer to shareholders of up to 79.1 million ordinary shares for a maximum total amount of EUR25.1 million has ended.

During the offering period following the exercise of 110.6 million option rights, 58.0 million shares were subscribed in the offering for a total consideration of EUR18.4 million.

BasicNet also did well, in the green by 0.4 percent. The company reported on Friday that it purchased 16,500 of its own ordinary shares between December 27 and 30.

The shares were taken over at an average price per share of EUR5.4810, for a total value of EUR90,440.50.

As of today, the company holds 3.9 million treasury shares, accounting for 7.2 percent of its share capital.

Civitanavi Systems gives up 0.2 percent. The company announced that it has signed a ruling agreement with the Internal Revenue Service that will allow the company to have access to the Patent Box tax benefit for intellectual property for patents and know-how.

The tax benefit for the five-year period 2017-2021 will be accounted for in the 2022 annual financial statements, and quantification will take place when the financial statements are prepared.

Among SMEs, Poligrafici Printing -- in profit by 2.3 percent -- announced Wednesday that it has reached an agreement with Cooperativa Editoriale Giornali Associati Spa through its subsidiary Centro Stampa Poligrafici for the printing of the daily newspaper "Corriere Romagna."

This agreement, effective Jan. 1, 2023, will run for four years and provides for the printing of all editions of the daily Corriere Romagna in CSP's production facilities.

Circle closes on a tie. It announced Monday that it has signed a new contract through the Log@Sea business network to supply advanced Gate Automation solutions to a leading Tyrrhenian multipurpose terminal.

"The order, the value of which exceeds EUR145,000, involves the implementation of a complete project of specialized hardware components and Milos software for the management of gate access control procedures for vehicles and Intermodal Transport Units. The topical momentum and market confidence in the solutions behind our Connect 4 Agile Growth plan are confirmed," explained president and CEO, Luca Abatello.

In New York, the Dow is up 0.6 percent, the Nasdaq gains 1.1 percent as does the S&P 500.

Among currencies, the euro changes hands at USD1.0619 versus USD1.0545 at Tuesday's close. In contrast, the pound is worth USD1.2048 from USD1.1964 last night.

Among commodities, Brent crude is worth USD78.34 per barrel from USD82.73 per barrel last night. Gold, on the other hand, trades at USD1,865.60 an ounce from USD1,836.55 an ounce Tuesday night.

On Thursday's economic calendar, at 0245 CET, from China comes the services sector purchasing managers' index.

At 0800 CET, Germany's non-seasonally adjusted German current account, exports, trade balance, and construction PMI will be released at 0930 CET, along with those from Italy, France, and the Eurozone. An hour later, for the UK, comes the composite PMI and the services sector PMI.

Back in Italy, at 1100 CET, it is the turn of the consumer price index for December and, from the Eurozone, that of producer prices.

Overseas, at 1430 CET, come data on exports, imports and unemployment claims.

Among companies listed on Piazza Affari, no particular announcements are expected.

By Claudia Cavaliere, Alliance News reporter

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