(Alliance News) - Piazza Affari continues the flat trend recorded at the start and, at mid-session, there are no particular shocks due to the few macro data released in the morning.

Thus, the FTSE Mib is at parity at 34,694.22, the Mid-Cap rises 0.4 percent to 48,206.38, the Small-Cap gains 0.3 percent to 28,383.19 while Italy Growth is up 0.3 percent to 8,099.61.

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

In macroeconomic news, the European Commission on Wednesday reported that the Eurozone's economic sentiment indicator rose to a three-month high of 96.3 in March, marking an increase from February's revised figure of 95.5 and aligning with market expectations.

In particular, the indicator measuring producer confidence rose to minus 8.8, reaching its highest level since September 2023, while consumer confidence rose to minus 14.9, hitting its highest point since February 2022.

On the Mib, Leonardo does best of all, rising 1.9 percent. Azimut Holding follows, up 1.2 percent.

Hera is up 1.2% the day after the release of its 2023 data. Indeed, the company reported Tuesday that it ended 2023 with a net profit of EUR417.0 million, up 12 percent from EUR372.3 million in 2022.

Hera Group's 2023 revenues came in at EUR14.90 billion, down from EUR20.08 billion in 2022 or 26%, mainly due to normalization of energy commodity prices and gas volumes, lower brokerage activities, and mild weather in the first part of the year.

Campari -- up 0.2 percent -- announced Tuesday that its EUR550 million 2.375 percent senior unsecured convertible bonds maturing in 2029 were admitted to trading at Euronext Access Milan, the multilateral trading system managed by Borsa Italiana.

Intesa Sanpaolo rises 0.4 percent. The bank announced the launch of its EUR120 billion program through 2026 entitled "Your Future is Our Business."

Among the bearers is Banca Monte dei Paschi di Siena, down 0.1% after Italy's Ministry of Economy and Finance launched an accelerated procedure to sell 12.5% of MPS on Tuesday.

The Mef put 157.5 million shares of the world's oldest bank on the market, kicking off its plan to exit the Siena-based credit institution.

On the Mid-Cap, Rai Way -- up 1.4 percent -- reviewed its draft individual financial statements for the year ended Dec. 31, 2023, which closed with a net profit of EUR86.7 million, up nearly 18 percent from fiscal year 2022, when it was EUR73.7 million.

The board proposed the distribution of a dividend of EUR0.32 per share, up from EUR0.27 in the previous year.

The company also approved the business plan to 2027, which forecasts core revenues at EUR316 million, with a CAGR in the 2023-27 period of 3.8 percent, due to the contribution of inflation and the aforementioned development initiatives.

Italian Sea Group goes to the bottom, giving up 7.0%. GC Holding sold all 4.6 million of the company's shares put up for sale Tuesday evening through an accelerated bookbuilding transaction.

The shares -- amounting to 8.7 percent of the company's share capital -- were sold at a unit price of EUR10.10, for a total value of EUR46.5 million. GC Holding now holds 28.4 million shares in TISG, accounting for 53.6 percent of the latter's capital.

GC Holding initiated the transaction to allow for an increase in free float and liquidity and made a 90-day lock-up commitment.

Among smallcaps, Conafi -- down 1.4 percent -- reported a consolidated net loss of EUR1.9 million in 2023 from one of EUR3.4 million as of Dec. 31, 2022. Revenues stood at EUR3.0 million from EUR5.9 million in 2022.

Aeffe rises 1.1 percent after announcing Tuesday that it has exercised its planned "incremental" call option to buy an additional 15 percent of Moschino Kids.

In addition, Aeffe consequently proceeded to purchase the relevant shares, at a price equal to the nominal value of EUR1,500. Moschino Kids is, therefore, as of today, owned by Moschino and Altana with a 55 percent and 45 percent stake, respectively.

PLC rises 2.8 percent after announcing Tuesday that it has signed an agreement with Bester New Energy Italia to build a utility substation attached to a Terna switching station.

The project involves a high-voltage underground cable duct serving two photovoltaic sites of more than 80 MWp, in the province of Reggio Calabria. The consideration for the deal is EUR3 million, and PLC System - a subsidiary of PLC - plans to execute the contract with its own resources by the first half of 2025.

Honeywell International announced Wednesday its intention to take over Civitanavi Systems - up 13 percent - in a EUR6.30 per share cash tender offer.

The company's equity value at Tuesday's close is EUR200 million. The offered price represents a 27 percent premium to the average price over the past 30 days of trading in Civitanavi, whose controlling shareholder--which holds 66 percent--has already given a commitment to divest its stake.

Among SMEs, Energy gives up more than 10 percent after reporting that it ended 2023 with revenues halved to EUR63.3 million from EUR126.5 million a year earlier.

Maps - up 0.3 percent - reported that it ended 2023 with a value of production of EUR30.2 million compared to EUR27.5 million a year earlier.

Revenues rose to EUR27.5 million from EUR24.7 million, with recurring royalty revenues coming in at 41.1 percent from 39.2 percent a year earlier, at EUR11.0 million from EUR9.4 million.

In New York at Tuesday's close, the Dow gave up 0.1 percent to 39,282.33, the Nasdaq lost 0.4 percent to 16,315.70, and the S&P 500 fell 0.3 percent to 5,203.58.

Among currencies, the euro changed hands at USD1.0832 against USD1.0830 recorded in Tuesday's European stock close while the pound is worth USD1.2633 from USD1.2630 last night.

Among commodities, Brent crude is worth USD85.72 per barrel versus USD86.27 per barrel at Tuesday's close. Gold, meanwhile, trades at USD2,193.30 an ounce from USD2,179.14 an ounce last night.

Wednesday's macroeconomic calendar includes, in the afternoon, the U.S. crude oil stocks data, due at 1530 CET.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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