(Alliance News) - Europe's major stock markets traded in the green mid-day Wednesday as Eurostat released the Eurozone unemployment rate, which fell slightly in March.

In March, the Eurozone's seasonally adjusted unemployment rate was 6.5 percent, down from 6.6 percent in February and 6.8 percent in March 2022.

The EU-27 unemployment rate was 6.0 percent in March, stable compared to February 2023 and down from 6.2 percent in March 2022.

Thus, the FTSE Mib is in the green by 0.8 percent at 26,835.78.

Among Italy's smaller lists, the Mid-Cap rises 0.2 percent to 43,050.65, the Small-Cap picks up 0.2 percent to 28,767.53, and Italy Growth climbs 0.1 percent to 9,221.04.

In Europe, Paris' CAC 40 is in the green by 0.6 percent, the FTSE 100 is up 0.2 percent and Frankfurt's DAX 40 is up 0.6 percent.

As for Italy, the unemployment rate fell against expectations in March, Istat reported on Wednesday.

Italy's unemployment rate fell to 7.8 percent in March from 7.9 percent in February -- revised from the initial 8.0 percent -- while the market was expecting a rate of 8.0 percent for March.

On the main list in Piazza Affari, UniCredit remains on top with 4.4 percent after its board of directors on Tuesday approved its results for the first quarter of 2023, calling it "the best first quarter ever and the ninth consecutive quarter of improved results in every respect."

Net accounting profit amounted to EUR2.1 billion from EUR274 million in the same period of 2022.

Total revenues are EUR5.9 billion from EUR5.0 billion in the first quarter of 2022.

Among the few bearish performers, in a list almost all tinged with green, is Stellantis, which gives up 2.0 percent after reporting Wednesday that it reported higher first-quarter revenue, with increased shipments and "strong" prices.

Revenues for the first three months of 2023 rose 14 percent to EUR47.24 billion from EUR41.48 billion in the same period a year earlier. Combined shipments rose 8.3% to 1.54 million from 1.42 million, as the owner of Citroen, Fiat and Chrysler said.

Worst of all are Telecom Italia and Saipem, in the red by 2.4 percent.

Saipem announced Wednesday that it had concluded Tuesday evening the transfer to KCA Deutag of its onshore drilling assets in Latin America corresponding to 44 rigs.

The transaction is part of the agreement for the sale of the onshore drilling business, announced on June 1, 2022, under which Saipem will transfer to KCA Deutag all of its onshore drilling assets for a total cash consideration of USD550 million in addition to a 10 percent stake in KCAD itself.

The consideration for the transfer finalized late yesterday evening is approximately USD40 million, the company note said.

The other two oil companies remain at the bottom, with Tenaris down 0.9 percent, along with Eni, which gives up 0.8 percent.

Eni's board of directors announced Friday that it had approved consolidated results for the first quarter, having reported adjusted pre-tax profit of EUR4.98 billion, down 5.0 percent from the same period last year when it was EUR5.23 billion.

Campari, in the green by 0.3%, reported Tuesday that it closed the first quarter with strong year-on-year numbers, thanks to net sales that rose to EUR667.9 million from EUR534.8 million in the same quarter a year earlier.

On the Mid-Cap, Credito Emiliano topped with a 3.0% rise followed by Brunello Cucinelli, up 2.1%, and Acea, in the green by 1.8%.

Tamburi Investment Partners -- in the red by 1.3 percent -- announced Monday that it has reached an agreement to acquire 51 percent of Investindesign Spa, a company that currently holds a majority stake in Italian Design Brands Spa. TIP, for the purchase of 50.7 percent of Investindesign's capital will invest EUR72 million, giving IDB an economic capital value of EUR220 million.

Saras gives up 2.6 percent and ends up at the bottom.

On the Small-Cap, Pierrel gives up 9.6 percent after announcing Wednesday that it has signed agreements with 3M Company, a U.S.-based company with international operations in industry, worker safety, transportation and electronics, health care and consumer goods, whose shares are listed on the New York Stock Exchange, to acquire certain local anesthesia dental products.

The signed agreements include an asset purchase agreement to be acquired by Pierrel for a purchase price of USD70 million.

The board of directors of Conafi Prestitò - which gives up 0.3 percent - approved Tuesday the financial statements as of December 31, 2022 reporting a net loss of EUR3.4 million for the full year, worsening from a net loss of EUR1.7 million in 2021.

Consolidated revenues are EUR5.9 million up from EUR2.7 million in 2021.

PLC trades in the green by 0.7 percent. On Friday the board of directors approved the operating budget to Dec. 31, 2022 reporting revenues down to EUR60.6 million from EUR67.6 million in 2021. It reported a loss of more than EUR15.8 million in 2022 from a profit of nearly EUR3.0 million in 2021.

Finally, among SMEs, Fenix Entertainment gives up 7.8 percent after closing on top with over 14 percent. On Friday, it reported first quarter 2023 production value at EUR7.5 million from EUR4.6 million in first quarter 2022.

Illa is not yet affected by trading. The company announced a deal with Bialetti Industrie, trades in the green by 0.4 percent. On Tuesday evening the companies announced a framework agreement for the sale of Bialetti's business unit, consisting of the complex of assets functional to the procurement, distribution, and marketing of "Aeternum" brand products.

The framework agreement calls for Illa to pay Bialetti EUR3.8 million on the execution date, set for July 20, 2023, of which EUR500,000.00 has already been paid as a deposit, and an additional amount of up to EUR1.5 million as an earn-out.

In Asia, the Hang Seng closed 1.2 percent in the red at 19,699.16 while stock exchanges in Japan and China are closed for holidays.

In New York, the Dow Jones closed 1.1 percent in the red at 33,684.53, the Nasdaq finished down 1.1 percent at 12,080.51, and the S&P 500 closed negative 1.2 percent at 4,119.58.

Among currencies, the euro changed hands at USD1.1040 against USD1.0959 at Tuesday's close. In contrast, the pound is worth USD1.2511 from USD1.2468 on Tuesday evening.

Among commodities, Brent crude is worth USD73.76 per barrel versus USD75.61 per barrel Tuesday evening. Gold, meanwhile, trades at USD2,017.11 an ounce from USD2,012.09 an ounce at Tuesday's close.

On Wednesday's macroeconomic calendar, the US 30-year mortgage rate is due at 1300 CEST.

From the U.S., at 1415 CEST, will come the ADP data while, at 1545 CEST, room for the tertiary sector purchasing managers' index. At 1630 CEST, it will be the turn of the EIA refinery count. Finally, at 2000 CEST, the expected FOMC decision on interest rates.

By Chiara Bruschi, Alliance News reporter

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