(Alliance News) - Major European stock markets were still down Wednesday, on a day when uncertainty over banks still weighed on Milan, which finished in the tail.

Thus, the FTSE Mib is down 0.6 percent to 27,086.16, the Mid-Cap is down 0.4 percent to 43,151.87, as is the Small-Cap to 28,924.82, and Italy Growth is down 0.2 percent to 9,240.02.

In Europe, Paris' CAC 40 is down 0.7 percent, London's FTSE 100 is in the red by 0.3 percent, and Frankfurt's DAX 40 gives up 0.5 percent.

In Milan, on the main list of Piazza Affari, topping the list is Pirelli & C in the green by 1.1 percent.

Also doing well is the oil sector with Tenaris and Eni both up 0.9%.

First are the utilities, with Enel gaining 0.2 percent as did A2A and Hera, up 0.8 percent.

At the bottom of the list is Banco BPM, down 4.0%, preceded by BPER Banca in the red by 3.4%. UniCredit, which already closed in the tail down 2.7% on Tuesday, loses 2.1%. The bank announced Tuesday that it had purchased 10.2 million of its own shares between April 17 and April 21, 2023. The shares were purchased at an average price of EUR19.4380 for a total value of EUR199.0 million.

The banking sector is all in the red, with Intesa, Monte dei Paschi, FinecoBank, BPER, and Medionalum down between 1.7 percent and 0.5 percent.

Moncler gives up 1.7 percent.

On the Mid-Cap, the fashion sector is down with Brunello Cucinelli giving up 1.3% and Salvatore Ferragamo in the red by 1.1%. Tod's after a red start, reverses course and rises 0.3%.

Juventus FC gives up 3.6% after falling 7.6% on Tuesday on reports that UEFA, whatever the outcome of the sports trial in Italy, is considering exclusion from European cups for the Bianconeri for next season.

Maire Tecnimont is in the red by 0.9 percent. The company announced Friday that its subsidiary NextChem, part of the Sustainable Technology Solutions business unit, after completing the advanced engineering study for methanation for the Salamandre project in Normandy, has been awarded a new contract by Storengy to perform an additional advanced engineering study for the gasification of wood waste and the purification of synthesis gas system to produce biomethane.

Arnoldo Mondadori Editore--declining 0.2 percent--reported last week that it had executed a contract to sell its 18.45 percent stake in Società Europea di Edizioni, publisher of the daily newspaper Il Giornale, to PBF.

On the Small-Cap, algoWatt gives up 2.9 percent. The company announced Monday that it has entered into an "important framework agreement with a leading Italian credit institution," for the evolutionary and corrective maintenance of remote control solutions for technological systems and management of maintenance teams at offices throughout Italy.

Bioera gives up 0.8 percent after announcing Friday evening that the board of directors approved the financial statements as of December 31, 2022, reporting a group loss of EUR4.1 million compared to a profit of EUR15.3 million in fiscal year 2021. On the other hand, revenues amounted to EUR626,000 compared to EUR19.8 million in the previous year.

Among SMEs, UCapital24 is still on top with 36 percent, having closed up 58 percent on Tuesday after letting it be known that the board of directors approved its 2022 results, reporting a net loss of EUR744,000 an improvement of 43 percent from a EUR1.3 million loss in FY2021.

The board also approved a 2023-2025 development plan, indicating total revenues between EUR5.0 and EUR6.0 million. The Ebitda margin is expected to be in the range of 33 percent to 38 percent in 2025, and the Net Financial Position as of 2025 is expected to be cash in the range of EUR1.5 million to EUR2.0 million.

Farmacosmo gives up 2.3 percent, after announcing on Monday that in the first quarter of 2023 it recorded an increase in all major indicators starting with revenues, which rose to EUR18.8 million, up 6.0 percent compared to the same period in 2022.

Portale Sardegna is not yet trading, but it reported Monday night that 2022 ended with a value of production of EUR8.9 million, up from EUR6.4 million in 2021.

In fact, the board of directors approved the consolidated financial statements as of December 31, 2022 reporting a worsened net loss to EUR500,000 from EUR230,000 in 2021.

Destination Italy rises 0.4 percent. On Monday evening, it reported that it had improved all indicators in 2022, with the loss narrowing 52 percent to EUR950,000 from EUR2.0 million in 2021.

Revenues soared, rising 266% to EUR27.1 million from EUR7.4 million in 2021.

Esautomotion gives up 2.7 percent. Saturday informed that it has signed a EUR10.0 million investment agreement and shareholders' agreement to acquire the business of Sangalli Servomotori, a company active in the electric motors market, through the purchase of the entire share capital of a newly established company.

In Asia, the Nikkei closed 0.7 percent in the red at 28,416.47 and the Hang Seng rose 0.7 percent to 19,757.27, while the Shanghai Composite finished fractionally in the red at 3,264.10.

In New York on Tuesday, the Dow Jones closed 1.0% in the red at 33,530.83, the S&P lost 1.6% to 4,071.63, while the Nasdaq was down 2.0% to 11,799.16.

Among currencies, the euro changed hands at USD1.1048 versus USD1.0983 at Tuesday's close. In contrast, the pound is worth USD1.2444 from USD1.2401 on Tuesday evening.

Among commodities, Brent crude is worth USD80.94 per barrel USD80.86 per barrel Tuesday evening. Gold, on the other hand, trades at USD2,007.40 an ounce from USD1,986.61 an ounce at Tuesday's close.

Crude oil inventories in the United States released Tuesday evening by the American Petroleum Institute fell by 6.0 million barrels in the week ended April 21, exceeding market expectations of a 1.667 million drop and following the previous week's 2.675 million barrel drop, according to data from API's weekly statistical bulletin.

Wednesday's macroeconomic calendar includes the release of data on job seekers in France at 1200 CEST.

For the U.S., data on the mortgage market at 1300 CEST, data on goods orders at 1430 CEST and data on crude oil stocks at 1630 CEST will be released. The day will end with a five-year T-Note auction at 1900 CEST.

By Claudia Cavaliere, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.