(Alliance News) - On Wednesday, major European stock markets opened mixed, with Milan and Frankfurt the only ones up, ahead of the release of a series of macroeconomic data.

Thus, the FTSE Mib opens in the green by 0.3 percent to 34,421.96, the Mid-Cap is in the red by 0.2 percent to 47,459.23, the Small-Cap rises by 0.4 percent to 28,260.26, while Italy Growth is in the fractional red at 8,085.19.

In Europe, Paris' CAC 40 is in the red by 0.9 percent, London's FTSE 100 is down by 0.2 percent, while Frankfurt's DAX 40 is in the green by 0.1 percent.

On the Mib, FinecoBank is in the lead, up 3.9 percent, followed by Banco BPM, up 1.7 percent, after reporting Wednesday that rating agency Moody's Investors Service confirmed all of the bank's major ratings and assessments in the investment grade category.

Among them, the long-term deposit rating was confirmed at Baa1, the long-term senior unsecured debt rating at Baa2, and the Baseline Credit Assessment at baa3.

Propelling at the start was the banking sector, with UniCredit and Banca Popolare di Sondrio gaining 1.5 percent and 1.2 percent, respectively.

Snam -- in the green by 0.2% -- announced Tuesday that Fabrizio Rutschmann is the company's new Chief People & Corporate Services Officer, an executive with strategic responsibilities reporting directly to the CEO, Stefano Venier.

Among the bearish performers are Iveco Group, at the bottom with a 1.6 percent decline, preceded by Ferrari, down 1.3 percent, and Saipem, in the red by 0.7 percent.

On the cadet segment, OVS rises 3.3 percent after announcing Tuesday that it has signed a binding investment agreement with the aim of reaching control and then 100 percent of Goldenpoint in several stages.

The agreement provides for an initial investment of EUR3 million, intended to underwrite a convertible bond and the acquisition of 3 percent of Goldenpoint's share capital. By July 31, 2025, OVS will have the option to increase to 51 percent.

The remaining 49% of the share capital can be acquired by OVS through the exercise of put & call options, in a time window between August 1, 2026 and July 31, 2029.

Iren - in the red by 2.0 percent - announced that it has signed a binding investment agreement to acquire a 50 percent stake in the share capital of a NewCo, into which the operating branches of EGEA, EGEA Commercial and EGEA Production and District Heating will be transferred.

The NewCo will be 50 percent owned by Iren through a EUR85 million capital increase that it will underwrite and release at the closing of the transaction, and the other 50 percent by a MidCo, whose share capital will be wholly owned by EGEA.

Among smallcaps, Seri Industrial gives up 1.4 percent after reporting that it closed 2023 with a net loss of EUR6.3 million, which compares with a net loss of EUR3.4 million in 2022.

Revenues rose to EUR200.1 million from EUR199.6 million while Ebitda increased to EUR22.9 million from EUR17.4 million.

Fidia rises 1.9 percent. The company announced Thursday that Monica Donzelli has resigned from the company's board, where she served as a nonexecutive and nonindependent member.

Exprivia is flat at EUR1.67 per share. The company reported that the board of directors approved the plan to merge Exprivia into Abaco3.

Among SMEs, CY4Gate -- up 9.2 percent -- announced Wednesday that it has signed a contract worth a total of more than EUR6.5 million for the execution of a series of projects in the defense sector with ELT Group, a leading European company in Electronic Defense for more than 70 years and a major shareholder of Cy4Gate Group.

SolidWorld Group rises 6.7 percent after announcing Wednesday that its subsidiary SolidFactory has entered into a new contract with a North American player for the complete supply of an innovative line for the production of advanced technology solar panels.

With this order, SolidFactory's backlog stands at EUR4.9 million at the end of March, according to unaudited company management data.

TraWell Co rises 0.3 percent after announcing Tuesday that it has signed a letter of intent that includes a three-month exclusive to take over a company active in traveler services in northern Europe.

The target company--whose name was not disclosed by TraWell--has revenues of EUR3 million to EUR3.5 million, an adjusted Ebitda margin of 13 percent and a positive cash position.

In Asia, the Nikkei gave up 1.0 percent, the Hang Seng was 1.3 percent in the red, and the Shanghai Composite closed down 0.2 percent.

In New York, the Dow closed down 1.0 percent to 39,170.24, the Nasdaq gave up 1.0 percent to 16,240.45 and the S&P 500 finished down 0.7 percent to 5,205.81.

Among currencies, the euro changed hands at USD1.0765 from USD1.0765 in Tuesday's European stock close while the pound was worth USD1.2571 from USD1.2566 last night.

Among commodities, Brent crude is worth USD89.10 a barrel from USD89.05 last night while gold trades at USD2,293.80 from USD2,259.15 Tuesday night.

Wednesday's economic calendar features Italian unemployment, due at 1000 CET. An hour later, room for Eurozone inflation and unemployment rate while at 1115 CET the outcomes of the OPEC+ meeting are expected.

In the afternoon, at 1300 CET, mortgage data will arrive from the US while nonfarm employment data will be released at 1415 CET. US PMIs will be released at 1600 CET, half an hour before crude oil stocks. Also prominent among the various Federal Resserve members who will speak on Wednesday is the speech by U.S. central bank President Jerome Powell at 1810 CET.

Among the companies in the Piazza Affari, Zucchi's results are expected.

By Claudia Cavaliere, Alliance News reporter

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