(Alliance News) - On Wednesday, after the Christmas break, major European stock markets are showing a positive trend, with Saipem doing best in Piazza Affari, while banks and energy fell.

The FTSE Mib on Wednesday is up 0.2 percent to 30,416.51, the Mid-Cap rises 0.6 percent to 44,714.59, as does the Small-Cap to 28,095.24, and Italy Growth marks a 0.4 percent increase to 8,154.19.

In Europe, London's FTSE 100 is up 0.6 percent to 7,744.40, Paris' CAC 40 is in the green 0.3 percent to 7,588.91, as is Frankfurt's DAX 40 at 16,748.89.

On Milan's largest-capitalization list, Saipem is doing best of all, up 3.3 percent. Also up is Tenaris, in the green by 0.6 percent.

Iveco, up 1.5 percent, also did well, reporting Friday that it bought back 165,056 of its own ordinary shares between Dec. 18 and 20. The shares were taken over at an average price per share of EUR7.9320, for a total consideration of EUR1.3 million.

Prysmian -- up 0.8 percent -- on Wednesday reported that it had tested the inter-array cable system for the Fécamp offshore wind farm, located in the English Channel, about 24 km off the French coast in Normandy, in the Seine Maritime department.

The Fécamp offshore wind farm consists of 71 wind turbines with a total capacity of nearly 500 MW, capable of generating an amount of clean electricity equal to the energy needs of more than 770,000 people.

With these purchases, the first EUR55.0 million tranche of the buyback program announced in April this year closed.

Among the bearers are banks and energy, with Banco BPM and BPER Banca both dropping 0.4 percent, while A2A and Snam go down 0.3 percent.

On the Mid-Cap, Fincantieri rises 1.3 percent after announcing Wednesday that it has signed an agreement to take over the entire capital of Remazel Engineering Spa from Advanced Technology Industrial Group.

The deal - financed entirely with equity - is expected to close by the first quarter of 2024. The transaction goes through for a consideration based on an enterprise value of EUR78 million.

Juventus rises 1.2 percent. The company has received notification of the conclusion of the investigation by the Rome Public Prosecutor's Office.

The trial on capital gains and market manipulation-as well as other charges-was transferred to the capital prosecutor's office because the Court of Cassation ruled that the Turin prosecutor's office lacked jurisdiction over this investigation. The club now has 20 days to be able to view the documents and prepare a defense.

Acea gains 0.7 percent after its board approved the definizio and presentation to Roma Capitale of a project financing proposal for the conessione of the management of the network and public lighting service in the capital.

The presentation of the spontaneous proposal to Roma Capitale, a related party of Acea as the controlling entity, represents the introductory act of an articulated procedure, also characterized by a possible and preliminary phase of dialogue with the Capitoline administration, aimed at assessing the feasibility of the proposal.

Among small-cap companies, Trevifin rises 8.7 percent after extending its 2022-2026 business plan by another year, to 2027.

Targets remain confirmed, which include average annual revenue growth of 5 percent over the plan period, a recurring Ebitda margin above 13 percent at the end of the plan from the 12 percent expected this year, and increasing cash generation due to the positive contribution of both business divisions, favoring the achievement of the ratio of Net Financial Position to recurring Ebitda at a level below 2 times, as early as the end of 2026.

As of November 30, 2023, the group's backlog was EUR757 million, up 28 percent or EUR170 million from December 31, 2022. Group order intake amounted to EUR700 million, 6 percent higher than the group's annual target expected at EUR659 million, thanks to the Trevi division, which exceeded the annual target by 21 percent.

Revenues at the end of the plan are expected at EUR716 million from EUR565-585 million projected for this year; recurring Ebitda is forecast at EUR96 million from EUR68-72 million in the current year; the ratio of NFP to recurring Ebitda is indicated at 1.3 times in 2027 from 2.9-3.2 in the year that is ending.

FNM gives up 1.3%. The company announced that it has signed a second application contract with Alstom Ferroviaria for the supply of two hydrogen trains - in addition to the first six already contracted and ordered - for EUR27.5 million.

In addition, FNM acquired a 30.8 percent stake in Mbility, a company that facilitates the availability and increases the supply of transportation services, including accompanied transportation, for frail or disabled people through its proprietary digital platform.

Mbility's equity investment is made through the subscription and payment of a share capital increase reserved for FNM amounting to EUR1 million.

CY4Gate rises 1.3 percent after winning contracts for EUR1.6 million in cybersecurity and EUR750,000 for decision intelligence solution.

The supply, with a total value of just over EUR2.3 million for the duration of one year, is for leading institutional and corporate entities operating in both the Italian and foreign markets. In the cybersecurity field, CY4Gate has concluded agreements for the sale of three different Cyber Hybrid Digital Twins for training, testing & validation activities and for deception activities of potential attackers through the creation of honey nets, all to harden the cyber resilience of its clients.

Among the SMBs in Piazza Affari, the good performance of Cloudia Research continues, which, after putting up 50 percent on its stock market debut, rises by the same percentage on its second day of trading in Milan.

Vantea SMART is doing well, up 12 percent after the Ministry of Enterprise and Made in Italy received a positive financial and technical report from MPS Capital Services for the Cyberlens project.

The approved amount is EUR6.3 million, which is matched by a EUR3.7 million facility, including EUR2.6 million in the form of an expenditure contribution and EUR1.1 million in subsidized financing.

Neosperience -- in the green by 3.7 percent -- reported Wednesday that the USD1 million capital increase of its subsidiary Neosperience Health has been completed.

In addition, a filing to apply for the subsidiary's listing on Nasdaq has been filed with the US Securities and Exchange Commission.

The aim of this transaction is to place, by the first quarter of 2024, as previously announced in May, a 15-20% stake in NH's capital increase, so as to raise financial resources to accelerate NH's growth in a highly innovation-driven market.

In Asia, the Nikkei closed Wednesday up 1.1 percent to 33,681.24, the Shanghai Composite gained 0.5 percent to 2,914.61 and the Hang Seng rose 1.7 percent to 16,624.84.

In New York, the Dow closed last night up 0.4 percent to 37,545.33, the Nasdaq rose 0.5 percent to 15,074.57 and the S&P 500 gained 0.4 percent to 4,774.75.

Among currencies, the euro changed hands at USD1.1056 against USD1.1021 recorded in Friday's European stock close while the pound is worth USD1.2717 from USD1.2726 on Friday evening.

Brent crude is worth USD80.30 per barrel versus USD80.18 per barrel at Friday's close. Gold, on the other hand, trades at USD2,075.65 an ounce from USD2,060.52 an ounce Friday night.

On Wednesday's macroeconomic calendar, on the bond front, three-, six-, and 12-month French BTF auctions are published in France at 1500 CET. From the U.S., at 1900 CET, it is the turn of five-year Treasury bond auctions while, at 2230 CET, weekly oil stocks will be released.

By Claudia Cavaliere, Alliance News reporter

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