(Alliance News) - Piazza Affari is expected to be down at the start of Wednesday's trading session on a day with few macro and corporate cues, with only Eurozone inflation leading the way in the morning.

The FTSE Mib is given down 90.0 points or 0.3 percent after closing Tuesday down 0.2 percent at 27,198.87.

In Europe, Paris' CAC 40 is expected down 28.0 points or 0.4 percent, Frankfurt's DAX 40 is listed down 22.0 points or 0.1 percent while London's FTSE 100 is given down 26.0 points or 0.3 percent.

In Milan last night, the Mid-Cap closed flat at 43,187.95, the Small-Cap finished down 0.6 percent at 27,884.84 and Italy Growth gave up 0.1 percent to 9,105.35.

On the Mib, among the positive notes was Banca Monte dei Paschi, which closed up 4.2 percent with a price of EUR2.21 after falling 0.3 percent on the eve.

Also doing well was Interpump Group, which rose 0.4 percent. The company reported Monday that its board of directors approved results as of March 31, 2023, reporting profit up to EUR86.0 million from EUR66.1 million. Revenues also rose to EUR592.3 million from EUR488.7 million in the first quarter of 2022. Detailing the group's operating segments, the Oil division grew by 22 percent while the Water division grew by about 18 percent.

On the bottom Telecom Italia, down 2.2 percent due to reports that CDP would no longer submit a bid to take over TIM's network.

Instead, the CEO of Cassa Depositi e Prestiti, Dario Scannapieco, denied speculation that CDP would withdraw from the race to take over Telecom Italia's network and confirmed that it was working together with Macquarie to submit a new bid.

"We are working with Macquarie to answer the questions posed by the TIM board and to review the bid for the network," Scannapieco said in an interview with Bloomberg TV, but he did not comment on the news that Macquarie was not willing to submit a joint bid with KKR.

Sales also prevailed on Amplifon, among others, which gave up 2.3 percent to EUR34.92. Bernstein initiated coverage on the stock with an 'outperform' recommendation and target price of EUR41.50.

On the Mid-Cap, Seco gave up 3.3 percent, trailing the eve's red with 1.0 percent.

OVS, equally at the back of the pack, on the other hand, contracted by 2.7 percent, ending on the losing side for the third consecutive session.

Tamburi Investment Partners - flat at EUR8.79 - on Monday approved its consolidated interim report as of March 31, having ended the first three months with a pro forma profit of EUR19.6 million, compared to EUR3.3 million in like-for-like earnings as of March 31, 2022. Consolidated shareholders' equity as of March 31, 2023 is about EUR1.26 billion, compared to EUR1.17 billion as of December 31, 2022.

Among bullish traders, doValue led the price up 11 percent to EUR4.48, rebounding after six sessions ended in negative balance. On the stock it is mentioned that Citadel Advisors raised its short position to 0.86 percent from 0.68 percent.

Intercos, on the other hand, brought home a 3.8% gain, with price now at EUR15.90. On the MarketScreener platform, the stock -- out of an average of six analysts -- shows a target price of EUR15.90 thus underestimated by about 15 percent.

On the Small-Cap, Eurotech - up 8.8 percent - reported that it approved consolidated revenues at EUR24.9 million from EUR17.4 million as of March 31, 2022, up 46 percent. Profit amounted to EUR100,000 from a loss of EUR2.4 million in the first quarter of 2022.

Orsero, on the other hand, took home 8.3 percent. The board of directors on Monday approved consolidated results as of March 31, reporting a net profit of EUR13.0 million, up 55 percent from the EUR8.4 million recorded in the first quarter of 2022.

In the red was Esprinet, which gave up more than 15 percent after the accounts were published. The board said it had approved additional periodic information as of March 31, whereby revenues from customer contracts in the first quarter amounted to EUR1.01 billion, down 11 percent from EUR1.13 billion in the same period last year. Net income for the period was EUR5.9 million, down 41 percent from EUR10.1 million as of March 31, 2022. Net income per share is EUR0.12 down 40 percent from EUR0.10 in 2022.

Among SMEs, Gambero Rosso pushed up 9.0%, ending its 10th straight session on the bullish side.

ReeVo -- up 18 percent to EUR17.25 -- announced Tuesday that Nebula Aurea BidCo has launched a tender offer to take over the entire capital of ReeVo and aimed at delisting the shares from Piazza Affari. The offer will be EUR17.60 per share, representing a 21 percent premium over yesterday's closing of EUR14.57, for a total consideration if the takeover bid is fully subscribed of EUR86.7 million.

Eurocommercial Properties listed yesterday on the Milan Stock Exchange-it is already listed in Amsterdam and Brussels-with a market capitalization of EUR1.1 billion. The stock closed up 2.5 percent at EUR21.86.

Askoll Eva, on the other hand, gave up 8.3 percent, echoing the eve's red close of 6.9 percent.

In Asia, the Nikkei is up 0.8 percent to 30,083.82, the Shanghai Composite falls 0.4 percent to 3,278.56 and the Hang Seng flexes 1.1 percent to 19,756.09.

In New York, the Dow closed Tuesday down 1.0 percent to 33,012.14, the Nasdaq gave up 0.2 percent to 12,343.05 and the S&P 500 fell 0.6 percent to 12,343.05.

Among currencies, the euro changed hands at USD1.0854 against USD1.0864 at Tuesday's close. In contrast, the pound is worth USD1.2456 from USD1.2492 last night.

Among commodities, Brent crude is worth USD74.45 per barrel versus USD75.06 per barrel Tuesday evening. Gold, on the other hand, trades at USD1,988.03 an ounce from USD1,998.29 an ounce at Tuesday's European stock closing

On Wednesday's macroeconomic calendar, at 1000 CEST will come the Italian trade balance. At 1100 CEST, eyes will be on Eurozone inflation.

At 1300 CEST, room for the U.S. mortgage market data, at 1430 CEST for building permits, and at 1630 CEST for the EIA report on refineries. At the same time, will come the Cushing inventory numbers.

At 1900 CEST, an auction of 20-year US Treasury bonds is scheduled.

Among the companies in the Square of Business, no results are expected.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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