(Alliance News) - On Monday, Milan opens in positive territory on a quiet day in terms of macroeconomic data but eventful on the corporate results front in Piazza Affari, dragging the other European lists as well with Frankfurt doing better than all in the opening before data on German business expectations.

Thus, the FTSE Mib is in the green 1.4 percent to 26,263.68, the Mid-Cap is up 0.7 percent to 42,564.38, the Small-Cap is up 0.8 percent to 29,750.56, and Italy Growth is up 0.5 percent to 9,348.63.

In Europe, Paris' CAC 40 is in the green by 1.3 percent, London's FTSE 100 is up 0.9 percent, and Frankfurt's DAX 40 is up 1.4 percent.

However, frictions in the banking system are not abating. "With ECB President Christine Lagarde insisting that there is no trade-off between financial stability and price stability, fears are growing that the ECB may be on the verge of making another policy mistake, which could make the situation worse, as in 2008," commented Michael Hewson, chief ma0rket analyst at CMC Market.

"At the start of a new week, investors and markets in general are undoubtedly much more concerned about the health of banks than they were a few weeks ago, and the main question is what will happen next, given that the ability of central banks to rush to the rescue this time is limited by still high levels of inflation. Fears of further tightening will be put to the test later this week with the latest flash CPI data for March from Germany and the EU, with a focus on the core CPI."

On the main list in Piazza Affari, despite the black crisis in banks in recent weeks, banks are doing well, with UniCredit rising 2.0 percent and FinecoBank following up 1.8 percent.

The oil majors also move into positive territory--as does everything else on the list--with Tenaris advancing 0.8% and Eni up 0.3%.

Unipol rises 1.3% after announcing Friday that it has approved its 2022 accounts, confirming preliminary figures released in February, which showed a net profit of EUR866 million, up from EUR796 million a year earlier.

Banca Monte Paschi Siena -- in its second week on the Mib -- rises 6.4 percent after announcing Thursday that board chairwoman Patrizia Grieco has resigned upon the renewal of her term, after taking a new position at another listed company.

DiaSorin is the only list down -- down 0.4 percent -- on the day the company's accounts are expected.

On the Mid-Cap, UnipolSai gains 1.1 percent after reporting Friday that it has confirmed preliminary accounts for 2022, released in February, which showed a consolidated net profit of EUR651 million down from EUR723 million a year earlier.

Iren rises 0.2 percent. The board of directors on Thursday, along with the 2022 financial results, also approved an update of the business plan to 2030, with which the company "confirms the strategic vision" but "strengthens investments," which will amount to EUR10.5 billion over the next eight years up EUR200 million compared to the 2021-2030 Plan.

Juventus Football Club's board of directors -- up 1.0 percent at the opening - reviewed and approved Friday the consolidated half-yearly financial report as of December 31, 2022 reporting revenues of EUR276.2 million up from EUR223.1 million in the same six-month period of 2021/2022.

The loss amounted to EUR29.5 million down from a loss of EUR112.1 in the first half of last year. This improvement stems partly from the fading of the negative effects of the pandemic, especially with regard to tender revenues, and partly from revenue development and cost rationalization actions set in previous periods and continued in the current one, the company explains.

On the Small-Cap, Mondo TV gives up 1.0 percent after reporting that it closed 2022 with a loss of EUR69.3 million versus a profit of EUR5.5 million in the previous year.

The figure discounts an extraordinary impairment of EUR73.4 million net of which it would have been EUR4.1 million positive.

Production value rises 6 percent year-on-year to EUR37.8 million from EUR35.6 million a year earlier.

Beghelli gives up more than 11 percent, after announcing on Friday that its board of directors approved the draft budget as of December 31, 2022 reporting consolidated sales at EUR145.9 million down from EUR148.0 million in 2021.

The company reported a net loss of EUR10.2 million versus a profit of EUR3.1 million in 2021. Also contributing to the deterioration was the recognition of nonrecurring tax items with a negative impact of EUR1.4 million mainly attributable to the write-down of taxes on tax losses for fiscal year 2022.

Immsi -- in the green by 1.5 percent -- reported Thursday that it ended 2022 with "the best results ever, setting new records for all indicators," according to the official note. As of Dec. 31, 2022, the company reported a net profit of EUR63.9 million from EUR35.4 million in 2021. The board also proposed a dividend of EUR3.9 cents per share from EUR3 cents in the previous fiscal year.

Revenues rose 24 percent to EUR2.12 billion, up from EUR1.70 billion in 2021, an all-time high for the company.

Among SMEs, Finanza.tech's board of directors -- down 2.8 percent -- announced Monday that it had approved its financial statements for the year ended Dec. 31, 2022, which closed with a net profit of EUR100,000 from EUR465,462 in the same period last year.

Revenues amounted to EUR3.6 million from EUR3.1 million as of Dec. 31, 2021.

Magis rises 2.9 percent, after reporting that it ended 2022 with revenues up 34 percent year-on-year to EUR94.1 million from EUR70.3 million in 2021.

This significant increase can be attributed to the company's ability to have increased the selling prices of its products as a result of the general increase in the purchase costs of raw materials from early 2021 and partly to the increase in square meters of finished products sold compared to the previous year.

Maps is up 0.8 percent, after announcing that it approved its main results for the year ended Dec. 31, 2022, and reported a profit of EUR2.7 million, up 8.0 percent from EUR2.5 million in the same period last year.

Revenues were EUR24.7 million, up 25 percent from EUR21.5 million in 2021, with a major contribution from the Healthcare Business Unit.

In Asia, the Nikkei rose 0.3 percent today to 27,476.87, the Shanghai Composite lost 0.4 percent to 3,251.40, and the Hang Seng dropped 1.3 percent to 19,661.31.

In New York on Friday, the Dow closed up 0.4 percent to 32,237.53, the Nasdaq gained 0.3 percent to 11,823.96 while the S&P 500 rose 0.6 percent to 3,970.99.

Among currencies, the euro changed hands at USD1.0765 against USD1.0760 at Friday's close. In contrast, the pound is worth USD1.2224 from USD1.2229 at the previous close.

Among commodities, Brent crude is worth USD75.39 per barrel versus USD74.46 per barrel on Friday night. Gold, meanwhile, trades at USD1,987.80 an ounce from USD1,985.13 an ounce at the last close.

On Monday's economic calendar, the IFO index on business confidence in Germany is due at 1000 CET, and at 1000 CET the ECB will release the M3 Money Supply index.

At 1200 CET the data on job seekers in France is expected, and at 1800, in the UK, Bank of England Governor Andrew Bailey is scheduled to speak.

Among the companies listed in Piazza Affari, the results of several companies including Cairo Communication, DiaSorin, Giglio Group, Radici, and Gismondi 1754 are expected.

By Claudia Cavaliere, Alliance News reporter

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