(Alliance News) - On Monday, contrary to forecasts, major European stock markets open an eventful morning on the macroecomic front with manufacturing PMI releases from major countries and for the Eurozone in positive territory.

Thus, the FTSE Mib is in the green by 0.4 percent to 27,224.18, the Mid-Cap is up 0.1 percent to 43,739.67, the Small-Cap gives up 0.2 percent to 29,940.66 and Italy Growth gains 0.4 percent to 9,420.84.

In Europe, Paris' CAC 40 is in the green by 0.2 percent, London's FTSE 100 is up 0.6 percent, and Frankfurt's DAX 40 is down 0.1 percent.

Saudi Arabia's decision to lead OPEC+ toward a coordinated production cut by the major oil powers, despite pressure from the United States to pump more crude, saying it is aiming for market stability, has been felt.

"The reality is that inflation is unlikely to abate anytime soon, barring an economic collapse, and with OPEC+'s unexpected announcement over the weekend to cut production by 1.1 million barrels per day starting next month, the economic boost provided by the recent drop in energy prices could begin to fade if this morning's surge in oil prices picks up steam and starts heading toward $100 a barrel," commented Michael Hewson, chief market analyst at CMC Markets.

"At such a fragile stage of the recent upswing in optimism, it is hard to imagine a riskier strategy, even though prices have hit their lowest levels in 15 months in the wake of last month's bank alert. It now appears that OPEC+ would prefer prices near USD90 per barrel rather than USD80, which may be fine for them but could make inflationary pressures for everyone else much harder to contain. Bond yields rose because of the weekend move by OPEC+."

"As a result, interest rates could remain higher for much longer, especially if labor markets continue to show few signs of stress. Unemployment rates continue to remain at multi-decade lows, along with decent vacancy rates, and wage growth shows no signs of slowing."

Therefore, on the main list of Piazza Affari, oil companies take the top spot, with Saipem doing best of all, in the green by 4.9 percent, followed by Tenaris in the green by 4.1 percent, while Eni, in the green by 3.5 percent, closes the podium.

Also doing well is UniCredit, up 1.9%, which, in implementation of the March 31, 2023 resolution, defined the implementing procedures for the execution of the first tranche of the share buyback program for a maximum amount of EUR3.34 billion, which the company intends to execute in two tranches, the first of which is for EUR2.34 billion.

Terna rises 0.1 percent. The company announced Thursday that it had signed contracts with the European Investment Bank for the second and third tranches of the EUR1.9 billion financing for the Tyrrhenian Link, the undersea electricity link that will unite the Italian peninsula with Sicily and the latter with Sardinia.

At the other end of the list are Iveco Group, which gives up 2.3 percent and sits on the bottom, anticipated by Interpump, which drops 1.8 percent.

On the Mid-Cap, Buzzi Unicem rises 0.9 percent. The board met Wednesday to approve the statutory and consolidated financial statements for the year ended Dec. 31, 2022, in which the company reported a profit of EUR458.8 million down from EUR542.3 million in 2021. The board also approved a proposed dividend of EUR0.45 per share, effective May 24, 2023 with an ex-dividend date of May 22, 2023 and "record date" May 23, 2023.

The board of Technogym -- in the red by 0.2 percent -- on Wednesday reviewed and approved the consolidated annual financial report that closed with an adjusted profit of EUR66.1 million, up EUR14.9 million from EUR51.2 million in 2021. The board also proposed the distribution of a dividend of EUR0.25 per share totaling EUR50 million. During the previous fiscal year, the dividend was EUR0.16 per share.

On the Small-Cap, Bialetti Industrie--not yet affected by trading--approved its financial statements for the year ended Dec. 31, 2022, which ended with a loss of EUR4.0 million, compared to a positive result of EUR5.8 million in 2021, "impacted by the positive effects resulting from the effectiveness of the restructuring agreement," the company specifies.

ePrice gives up 0.9 percent. On Tuesday, the board of directors reviewed and approved the 2022 financial statements, reporting a net profit of EUR11.9 million, an improvement from a loss of EUR20.2 million in 2021. This result is from discontinued operations or assets held for sale, attributable to the deconsolidation of subsidiaries, of EUR13.0 million approximately compared to a negative EUR13.7 million in 2021 restated on an IFRS basis.

The management board of SS Lazio -- in the green by 3.8 percent -- approved the consolidated half-year financial report as of December 31, 2022. The company closed with a loss of EUR21.5 million compared to a profit of EUR4.6 million in the previous year for the same period.

Among SMEs, Datrix gives up 6.2 percent after Friday's approval of its 2022 consolidated results, which include a net loss of EUR2.7 million worsening from the EUR2.4 million loss in 2021.

Revenues for 2022 amounted to EUR16.8 million up 46 percent from the previous year when they were EUR11.5 million.

Caribbean Company gives up 2.0%. The company reported that it ended fiscal year 2022 with an adjusted net profit of EUR3.5 million, up 32% from EUR2.6 million as of December 31, 2021.

Revenues amounted to EUR56.1 million, up about 31 percent from EUR43.0 million in 2021.

SG Company Benefit Company - down 4.6 percent - approved its annual financial statements for 2022, which closed with a consolidated operating profit of EUR219,000 compared to a consolidated operating loss of EUR120,000 as of December 31, 2021.

Revenues were EUR16.9 million, up 47 percent from EUR11.4 million in fiscal year 2021.

Neosperience -- in the red by 1.9 percent -- reported group net income of EUR675,000 in the year ended Dec. 31, 2022, up 13 percent from EUR597,000 in 2021.

Revenues for the period stood at EUR21.0 million compared to EUR18.2 million and up 16 percent.

expert.ai rises 1.0% after approving on Thursday the consolidated economic?financial results for 2022 reporting a loss of EUR23.8 million worsening from the loss of EUR15.7 million recorded as of December 31, 2021.

Value of production is EUR40.5 million, compared to EUR39.6 million realized in fiscal year 2021. Total revenues amounted to EUR31.7 million up from EUR31.1 million.

In Asia, the Nikkei closed in the green 0.6 percent to 28,199.37 and the Hang Seng is giving up 0.2 percent to 20,361.94 as Shanghai is closed for the Ching Ming holiday.

In New York on Friday, the Dow Jones closed in the green 1.3 percent to 33,274.15, the S&P gained 4.4 percent to 4,109.31, and the Nasdaq was up 1.7 percent to 12,221.91.

Among currencies, the euro changed hands at USD1.0833 versus USD1.0869 at Friday's close. In contrast, the pound is worth USD1.2319 from USD1.2374 on Friday evening.

Among commodities, Brent crude is worth USD84.19 per barrel versus USD79.53 per barrel Friday night. Gold, on the other hand, trades at USD1,976.20 an ounce from USD1,979.15 an ounce at Friday's close.

On Monday's economic calendar, with the Shanghai Stock Exchange closed, the Italian manufacturing purchasing managers' PMI index will be released at 0945 CET followed at five-minute intervals by the French, German and euro area PMIs.

In the afternoon, at 1600 CET the PMI index will also come from Canada while the ISM index will come out from the US.

In Piazza Affari, the results of Monrif are expected.

By Claudia Cavaliere, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.