(Alliance News) - The Mib on Wednesday continued on the bullish path it has been on since the bell rang, bringing the point bar ever closer to the 26,600 mark, with banks consolidating gains after last week's sharp sell-off across the credit segment and with fears regarding the entire financial sector continuing to ease.

On the war front in the Russian-Ukrainian theater, after a three-day trip to Russia to discuss with Vladimir Putin and present his peace plan and openings for dialogue with Volodymyr Zelensky, Xi Jinping received a formal invitation to Kiev. The Chinese president currently presents himself as the main mediator between the warring parties, surpassing what Erdogan, long credited as the point of contact between Russia and Ukraine, initially did.

Thus, the FTSE Mib trades in the green by 0.4 percent at 26,592.53 points.

In Europe, Paris' CAC 40 advances 1.4 percent, London's FTSE 100 rises 0.7 percent, and Frankfurt's DAX 40 is in the green by 0.9 percent.

Among the smaller listings on Tuesday, the Mid-Cap advances 0.7% to 42,551.11, the Small-Cap rises 0.7% to 29,757.21, and Italy Growth advances 0.3% to 9,364.20.

On the Mib, STMicroelectronics confirms its lead by advancing 5.7 percent to EUR47.07 per share after contracting with 2.9 percent on the eve.

High quarters also for Monte dei Paschi, which advances 4.6 percent bringing the price to EUR1.91 following the eve's green, albeit with 1.0 percent.

Among banks, still in the high quarters, Banco BPM is picking up 1.4 percent, positioning its snout toward its third bullish close.

Moncler, on the other hand, is stretching 1.2%. On the stock, it is reported that Citadel Advisors Europe raised its short to 0.50% from 0.47%.

Amplifon, on the other hand, marks a green of 1.6 percent, on which Marshall Wace instead cut its short to 0.53 percent from the previous 0.63 percent.

Among the bearish few, Leonardo is leaving 1.0% on the parterre, following up eve's red with 1.0%.

On the cadet segment, GVS marks a plus 5.7%, with price at EUR5.582 per share and weekly marking a 25% stretch.

Industrie De Nora advances 3.5% to EUR17.76, bringing the 2023 market cap increase to 24%.

Tod's, on the other hand, rises 2.9% to EUR35.02, following eve's red with 0.1%, although on the weekly it marks a slight contraction.

Intercos, on the other hand, marks a contraction of 5.2% to EUR13.41. On the week, Jefferies raised the target price to EUR16.00 from EUR13.00 with a 'buy' recommendation.

Seco, on the other hand, gives up 3.2 percent on the heels of the eve's red.

On the Small-Cap, Greenthesis advances with 2.9 percent to EUR9360, following eve's contraction with 0.4 percent.

The board of ePrice -- up 1.8 percent -- on Tuesday reviewed and approved the 2022 budget, reporting a net profit of EUR11.9 million, an improvement from the EUR20.2 million loss in 2021.

King of the list, however, is KME Group, despite declining numbers. Of note, however, is the arrival of the green light from the corporate board for takeover bid for ordinary shares, savings shares and warrants. In fact, the stock is advancing more than 21 percent. The company reported that it ended 2022 with an operating profit that fell to EUR7.4 million from EUR67.9 million in the previous year. Significant declines were also recorded for pre-tax profit, which fell to EUR4.3 million from EUR63.9 million, and net income, which fell to EUR5.2 million from EUR65.3 million. The board proposed a dividend of EUR0.2172 per savings share, with payment starting May 24, ex-dividend date May 22 and record date May 23.

At the tail end, Bioera instead gives up 8.6 percent, with price at EUR0.1408 heading for the fourth session to end on the bearish side.

Among SMEs, Allcore gives way with 1.6 percent. The company on Wednesday reported that the board approved its draft budget for 2022, which closed with a net profit of EUR2.6 million, up 104 percent to the 2021 figure of EUR1.3 million. The corporate executive proposed the distribution of a dividend of EUR0.10 per share The value of production as of December 31, 2022 stood at EUR36.1 million, up 32 percent from the December 31, 2022 figure of EUR27.5 million.

Farmaé, on the other hand, gives up 4.4 percent to EUR10.80. The board Tuesday approved the financial report for 2022, which closed with a loss of EUR900,000 compared to a loss of EUR100,000 in 2021.

Go Internet advances 9.1 percent. The stock trades as high as unusual, with more than 189,000 changing hands compared to a three-month average of about 61,500.

Grifal's board of directors on Tuesday approved the financial report for the year ended Dec. 31, 2022, which closed with a net profit of EUR432,047, compared to a loss of EUR836,502 in the previous year. The stock thus advances 4.2 percent.

In New York on the European night, the Dow Jones closed in the red by 0.1 percent, the S&P gave up 0.2 percent while the Nasdaq closed in the red by 0.5 percent.

Among currencies, the euro changed hands at USD1.0856 versus USD1.0845 at Tuesday's close. In contrast, the pound is worth USD1.2349 from USD1.2345 on Tuesday evening.

Among commodities, Brent crude is worth USD79.37 per barrel versus USD79.02 per barrel on Tuesday evening. Gold, meanwhile, trades at USD1,966.49 an ounce from USD1,967.25 an ounce at Tuesday's close.

On Wednesday's economic calendar, at 1300 CET, from the U.S., eyes on the 30-year mortgage rate, at 1630 CET on crude oil stocks, the EIA refinery report, and the Cushing inventory.

At 1900 CET, an auction of seven-year US Treasury bonds is scheduled.

By Maurizio Carta, Alliance News reporter

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