(Alliance News) - Major European exchanges mark a bearish opening Wednesday, with oil prices continuing to fall following weak Chinese trade data, adding to a weak demand outlook.

Weakness also seen on Asian bourses, where the Nikkei has given up 0.3 percent, the Hang Seng is giving up 0.4 percent, and the Shanghai Composite is marking a 0.2 percent contraction.

In the absence of new catalysts to boost market sentiment, investors are weighing the potential trajectory of interest rates amid a steady stream of weak economic data.

On the corporate front, before the bell rang, Monte dei Paschi di Siena released its results for the first nine months, which closed with a profit of EUR929 million compared to a loss of EUR334 in the same perid of last year, as well as confirming a series of progress on several accounting indicators.

The FTSE Mib, therefore, after closing down 0.7 percent at 28,395.90 last night, is down 57.50 points.

In Europe, London's FTSE 100 is giving up 27.00 points, Paris' CAC 40 has contracted 26.50 points, and Frankfurt's DAX 40 is marking a loss of 68.00 points.

Among the smaller lists last night, the Mid-Cap closed up 0.1 percent at 40,005.72, the Small-Cap in fractional red at 25,148.00, and Italy Growth finished down 0.4 percent at 7,638.90.

On the main list of Piazza Affari on Tuesday, CNH Industrial gave up 7.5 percent with price at EUR9.80 after the presentation of accounts. Net income was USD570 million, with a diluted earnings per share of USD0.42 while net income was USD559 million in the third quarter of 2022, with a diluted earnings per share of USD0.41.The company has now announced that Borsa Italiana has approved the company's request to delist its ordinary shares from Euronext Milan, and has ordered the delisting effective Jan. 2, 2024.

Tenaris, on the other hand, left 3.1 percent on the parterre, after 2.4 percent green on eve.

FinecoBank -- up 2.8 percent in letters -- reported Tuesday that net income doubled to EUR454.2 million in the first nine months of the year compared to the same period last year, when it amounted to EUR302.7 million. As of Sept. 30, revenues were EUR916.7 million, up 34 percent from 2022 when they were EUR684.1 million.

Azimut Holding--up 0.1 percent--reported Tuesday that it recorded positive net inflows of EUR391 million in October, reaching EUR5.4 billion since the beginning of the year. The company's full-year target is in the range of EUR6 billion to EUR8 billion.

Recordati also did well after the accounts, closing in the green by 2.1 percent and standing as the best of the day. The group achieved results in the first nine months that exceeded expectations and thus expected to exceed the 2025 revenue and profit targets set last February. As of September 30, the group reported net income at EUR304.5 million, up 26 percent from EUR241.5 million in the same period of 2022.

On the Mid-Cap, head of the list for Zignago Vetro, in the green by 5.5 percent. The company reported Tuesday that it closed the first nine months with revenues up 18 percent year-on-year to EUR545.9 million from EUR464.3 million in the same period last year.

Good buys also on Ariston Holding after good accounts, up 4.3 percent after closing the first nine months with a net profit of EUR206.1 million compared to EUR122.0 million recorded last year.

The board of directors of Banca Popolare di Sondrio -- in the red by 0.6 percent -- on Tuesday approved the consolidated interim report as of Sept. 30, which closed with a consolidated net of EUR348.6 million compared to EUR151.3 million in the comparison period. This result comes from a consolidated gross profit of EUR507 million, from which taxes of EUR158.4 million must be deducted, corresponding to a tax rate of 31 percent.

Danieli &C, on the other hand, closed on the bottom line with a 3.8 percent loss at EUR25.30 per share, after the eve's green with 0.4 percent.

Saras, on the other hand, left 2.8 percent on the parterre, with new price at EUR1.36 in the wake of eve's red with 0.8 percent.

On the small-cap, Mondo TV rallied 8.0%. There was high trading volume on the stock, with more than 1 million pieces changing hands compared to a three-month daily average of about 243,000.

Sogefi, on the other hand, rallied 3.3 percent after a 4.7 percent loss on the eve of trading.

Civitanavi Systems -- in the green with 0.5 percent -- on Tuesday approved revenues for the nine months ended Sept. 30, which closed at EUR32.6 million compared to EUR19.8 million recorded in the first nine months of 2022.

Among the negative, majority-listed notes, Softlab left 6.7 percent on the parterre, the subject of profit taking after two sessions in which it gathered an aggregate of more than 27 percent.

Risanamento, on the other hand, gave up 5.2 percent, after eve's profit taking of 5.0 percent.

Among SMEs, ATON Green Storage rallied 4.4 percent to EUR5.24 per share, after eve's decline of 2.0 percent.

Also on the bullish side was CrowdFundMe, which posted a plus 3.6% after two sessions ended with bearish candles.

Caribbean Company, on the other hand, gave up 5.7%, with new price at EUR3.30 per share after two bullish sessions.

Intred -- in the money by 1.0 percent -- reported Tuesday that it had reviewed turnover as of September 30, which came in at EUR36.8 million, up 8.0 percent from the same period a year earlier. The increase in turnover was mainly supported by sales of fiber-optic connections of EUR22.2 million, up 13 percent from the same period last year.

In New York on European night, the Dow rallied 0.2 percent, the S&P 0.3 percent, and the Nasdaq rallied 0.9 percent.

Among currencies, the euro changed hands at USD1.0682 against USD1.0688 recorded at Tuesday's European stock close, while the pound was worth USD1.2273 from USD1.2304 last night.

Among commodities, Brent crude is worth USD81.54 per barrel from USD82.54 per barrel at yesterday's close. Gold, meanwhile, trades at USD1,967.85 an ounce from USD1,965.78 an ounce last night.

On Wednesday's macroeconomic calendar, at 1000 CET Italy's retail sales are released followed at 1100 CET by those of the Eurozone.

At 1300 CET comes the US mortgage rate, at 1515 CET a speech by Federal Reserve Chairman Powell is scheduled, and at 1630 CET are crude oil stocks, Cusghing inventory, and the EIA report.

Among the many corporate results coming up are those of Almawave, BPER Banca, Buzzi, Telecom Italia and Tod's.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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