(Alliance News) - On Wednesday, major European stock markets move into negative territory as they open the day when Eurozone inflation data is expected to be released.

Thus, the FTSE Mib is in the red 0.1 percent to 27,874.61, the Mid-Cap is down 0.2 percent to 44,056.58, the Small-Cap gives up 0.4 percent to 30,046.31, and Italy Growth is down 0.2 percent to 9,298.65.

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

In macroeconomic news, the annual increase in UK consumer prices slowed slightly to 10.1 percent in March from 10.4 percent in February. This was a smaller slowdown than expected, with the market consensus cited by FXStreet predicting a decline in UK inflation below 10 percent to 9.8 percent.

Car registrations in the European Union surged 29 percent year-on-year to a three-year high of 1.0 million units in March 2023, the eighth consecutive month of increase.

On the main list in Piazza Affari, before the opening Saipem, which now trades in the green by 0.8 percent, reported that it was awarded by Eni -- down 0.6 percent -- a two-year contract extension for the use of the Santorini drillship.

The contract extension, which will give continuity to the current activity, will take effect from August 2023 and is worth about USD280 of million. This amount will be supplemented by additional income related to investment in improvements to the facility of about USD15 million.

Telecom Italia opens just below par after reporting Tuesday evening that it received improved offers for its network from Cassa Depositi e Prestiti Spa-Macquarie Infrastructure and Real Assets (Europe) and Kohlberg Kravis Roberts & Co.

In detail, CDP-Macquarie raised its bid from the initial EUR18 billion to EUR19.3 billion while KKR raised its bid on TIM's network to EUR19 billion plus possible EUR2 billion earn-out in case of a merger of TIM's and Open Fiber's networks.

Now, the ball is in the former monopolist's board, convened for May 4, which will have to decide which bid to accept. Vivendi, among TIM's largest shareholders, is not represented on the board, which continues to demand a network valuation of EUR31 billion and, according to rumors, could drop to no more than EUR26 billion.

FinecoBank is down 0.5 percent, after announcing Tuesday that the S&P Global Ratings agency confirmed its long-term 'BBB' rating with stable outlook, while maintaining its short-term 'A-2' rating.

On the Mid-Cap, Maire Tecnimont gives up 1.2 percent after reporting on Wednesday that some companies that are part of the Sustainable Technology Solutions business unit, directly controlled by Nextchem Holding, have been awarded several new contracts for technology licenses and engineering services worth a total of about USD90 million.

MFE-MediaForEurope published results for 2022, having reported revenues falling to EUR2.80 billion from EUR2.91 billion in 2021.

Net income declines in the period, to EUR216.9 million from EUR374.1 million but still higher than the last pre-Covid figure in 2019 of EUR190.3 million. Adjusted net income, on the other hand, was EUR247.5 million. Despite this, the board thus decided to propose the distribution of a dividend of EUR0.05 per class A and B ordinary share. The former are in the green by 1.1 percent, while the latter are not yet affected by trading.

Acea -- in the green by 1.1 percent -- announced Tuesday that the shareholders' meeting appointed the new board of directors, which will serve for three fiscal years, namely until the approval of the financial statements for the year 2025.

Thus, Barbara Marinali - later confirmed as chairman of the board -, Fabrizio Palermo, Nathalie Tocci, Angelo Piazza, Elisabetta Maggini, Alessandro Picardi, Luisa Melara, Thomas Devedjian, Vincenza Patrizia Rutigliano, Alessandro Caltagirone, Massimiliano Capece Minutolo Del Sasso, Antonino Cusimano and Antonella Rosa Bianchessi were elected.

Webuild -- in the red by 0.6 percent -- reported Tuesday that its U.S. joint venture subsidiary Lane has been selected preferred bidder to exclusively carry out the study that will define the implementation of the project, to date estimated at USD1 billion in total value, for the modernization of "Tampa's Westshore Interchange."

On the Small-Cap segment, Eems Italia gives up 0.4 percent, after announcing that it has approved its main results for the year ended Dec. 31, 2022, having reported a net loss of EUR2.3 million, from a loss of EUR287,000 in the same period of the previous year.

The operating loss amounted to EUR2.2 million from a loss for EUR990,000 in 2021.

Elica - not yet affected by trading - announced Tuesday that it has entered into a strategic partnership with Ilve, an Italian company specializing in cooking systems, which will allow the company to grow in the world of home cooking by also marketing induction ovens and hobs.

Mondo TV gives up 0.4 percent, after announcing Monday that it has reached a preliminary agreement to sign a pre-sale agreement with Italian TV station Rai Kids for the Agent 203 series, commissioned by German TV Super RTL and co-produced with Toon2Tango.

The agreement includes a seven-year license for Free TV and VOD rights for the Italian territory, and its value corresponds to about 8 percent of the parent company's revenues for 2023.

Leading the list is Bioera, in the green by 8.1 percent at EUR0.11 per share, while Autostrade Meridionali's positive momentum continues, up 5.2 percent.

Among SMEs, Shedir Pharma -- flat at EUR4.82 per share -- reported Tuesday that it posted consolidated net revenues of EUR14.2 million in the first quarter of 2023, up 44 percent from the same period a year earlier, when they amounted to EUR9.9 million.

Defence Tech Holding gives up 0.5 percent, after announcing the entry of Tinexta - in the red by 0.6 percent on the Mid - as a new strategic partner in its shareholding structure, which today finalized the purchase of a 20 percent stake in Defence Tech through its own wholly owned vehicle.

The transfer of the shareholding to Tinexta was finalized upon the fulfillment of all conditions precedent stipulated in the relevant binding agreement, including Golden Power authorization and obtaining confirmation from the Panel of Borsa Italiana that there is no need to promote a takeover bid as a result of the mere subscription of the Tinexta Call," the company's note reads.

In Asia, the Nikkei 225 closed Wednesday down 0.2 percent to 28,606.76, the Shanghai Composite gave up 0.7 percent to 3,370.13 and the Hang Seng was down 1.1 percent to 20,414.04.

In New York at Tuesday's close, the Dow closed just below par at 33,976.63, the Nasdaq fell slightly to 12,153.41 and the S&P 500 gained 0.9 percent to 4,154.87.

Among currencies, the euro changed hands at USD1.0970 versus USD1.0962 at Tuesday's close. In contrast, the pound is worth USD1.2466 from USD1.2425 last night.

Among commodities, Brent crude is worth USD84.34 per barrel USD84.75 per barrel Tuesday evening. Gold, meanwhile, trades at USD2,006.70 an ounce from USD2,020.85 an ounce at yesterday's close.

On Wednesday's economic calendar, at 1000 CEST, the Eurozone's non-seasonally adjusted current and current account are due. An hour later, also for the eurozone, will come inflation data.

From overseas, at 1300 CEST, it will be the turn of U.S. mortgage data.

At 1430 CEST, Canada makes us data on new construction sites and the industrial goods price index, while two hours later the US releases crude oil stocks volumes.

Among the companies listed in Piazza Affari, results from Covivio, Estrima, Gismondi 1754, OVS, Renergetica and Saipem are expected.

By Claudia Cavaliere, Alliance News reporter

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