(Alliance News) - On Monday, major European stock exchanges close the day in the positive except for Frankfurt, marking a mixed start to the week. Gaining the upper hand are oil stocks, buoyed by the one million barrel production cut announced as a surprise over the weekend by OPEC+ countries.

"Markets held up fairly well to the surprise OPEC+ cut, with the FTSE 100 up 40 points on the first day of the new quarter," says Chris Beauchamp, chief market analyst at online trading platform IG.

"It's been a challenging start to the second quarter as markets rush due to the OPEC+ production cut. After ending the quarter with signs of slowing inflation, investors are now rushing to react. The FTSE 100 enjoyed one of the strongest starts to the year, kept in positive territory by BP and Shell, which added more than 40 points to the index."

Thus, the FTSE Mib is in the green 0.2 percent to 27,179.37, the Mid-Cap is up 0.3 percent to 43,859.68, the Small-Cap gives up 0.4 percent to 29,890.71, and Italy Growth gains 0.1 percent to 9,392.98.

In Europe, Paris' CAC 40 closes in the green by 0.2 percent, London's FTSE 100 ends up 0.5 percent, and Frankfurt's DAX 40 ends in the red by 0.4 percent.

On the main list in Piazza Affari, oil companies lead with Saipem closing up 4.4% followed by Eni ending up 4.1% and Tenaris gaining 3.0%.

UniCredit is doing well, up 3.0%. The company announced Monday that, in implementation of the March 31, 2023 resolution, it has 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.

BPER Banca - up 0.9% - and UnipolSai Assicurazioni have signed an agreement to launch a strategic business partnership in the long-term rental sector to be achieved, among other things, through the merger by incorporation of Società Italiana Flotte Aziendali Spa, a wholly owned entity of BPER Banca, into UnipolRentalSpa, the latter company controlled by UnipolSai.

On the Mid-Cap, the board of Buzzi Unicem -- in the green by 2.2 percent -- 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.

Saras ends at the bottom and gives up 4.4 percent while Seco ends on top with an 8.0 percent gain.

On the Small-Cap, Gequity flies and closes up 36%.

Monrif advances 2.8 percent after reporting its 2022 full-year results on Monday, reporting a profit of EUR314,000 improving from a loss of EUR3.3 million reported as of Dec. 31, 2021.

Consolidated revenues amounted to EUR157.9 million compared to EUR149.5 million in the previous

fiscal year, an increase of 5.6 percent.

PLC closes down 6.0 percent. Friday reported that 2022 revenues fell to EUR60.0 million from EUR67.7 million in the previous year.

Ebitda ranged from a negative EUR6.5 million to a negative EUR7.5 million from the positive EUR9.7 million in the previous year.

Among SMEs, SCK Group through Sciuker Frames--which closes up 3.2 percent--reported on Monday that Sciuker Ecospace and Banco BPM Spa have signed a strategic partnership to sell EUR30 million in tax credits generated as a result of Super Ecobonus energy upgrades.

Promotica closes up 2.5 percent after announcing Monday that preliminary consolidated sales in 2022 are close to EUR90 million, more than twice 2021's value of EUR39.6 million.

Gismondi 1754 closes up 5.7 percent after announcing Monday that it had closed with Lombardi Srl, a company founded in Valenza in the province of Alessandria in 1951 that operates in the gold and jewelry sector and controlled by LVMH W&J Jewelry Operations Srl of the LVMH Group, on an agreement to acquire the Vendorafa brand and some of the company's assets.

The closing took place on Friday, March 31, and Gismondi 1754 took over the brand and some assets of Vendorafa Lombardi for a total value of EUR608,000.

Farmacosmo gives up 2.4 percent after approving results as of December 31, 2002, with revenues from sales of EUR65.6 million from EUR58.0 million in the same period last year.

Value of production stands at EUR66.6 million from EUR58.4 million as of Dec. 31, 2021.

In New York at the height of trading, the Dow Jones is in the green by 0.6 percent, the S&P is in the red by 0.1 percent while the Nasdaq gives up 0.9 percent.

Among currencies, the euro changes hands at USD1.0892 versus USD1.0869 at Friday's close. In contrast, the pound is worth USD1.2398 from USD1.2374 on Friday evening.

Among commodities, Brent crude is worth USD84.71 per barrel versus USD79.53 per barrel Friday night. Gold, on the other hand, trades at USD1,989.87 an ounce from USD1,979.15 an ounce at Friday's close.

On Tuesday's economic calendar, with the Shanghai Stock Exchange closed, the trade balance is expected from Germany at 0800 CET.

In Spain, also at 0800 CET, the unemployment rate will come out. At 1100 CET, the Eurozone producer price index is expected.

In the afternoon, from Canada at 1430 CET, building permits and the trade balance will come out.

At 1600 CET, data on durable goods and factory orders are expected in addition to new jobs JOLTs.

At Piazza Affari, the results of Gas Plus are expected.

By Chiara Bruschi, Alliance News reporter

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