(Alliance News) - On Wednesday, major European stock markets closed in negative territory, with the only exception of Paris, after the release of higher-than-expected U.S. inflation data and while waiting for the European Central Bank's interest rate decision.

Thus, the FTSE Mib closed down 0.4 percent to 28,481.77, the Mid-Cap down 0.3 percent to 41,086.54, the Small-Cap up 0.5 percent to 26,649.14, and Italy Growth down 0.9 percent to 8,670.58.

In Europe, London's FTSE 100 ends on the parity line, Paris' CAC 40 gives up 0.4 percent and Frankfurt's DAX 40 closes in the red by 0.3 percent.

"Although U.S. prices have risen at a stronger pace over the past month, stocks still took comfort from the decline in annual core inflation. Nervousness leading up to the report's release was very strong, with stocks in fragile shape, but a more confident tone emerged, at least in the US. European stocks remain in negative territory as we await tomorrow's ECB decision, with a rate hike back on paper after Tuesday's late-night appearance of the ECB's mythical 'stories,'" commneted Chris Beauchamp, chief market analyst at IG.

On the main index in Piazza Affari, Banca Monte dei Paschi di Siena remains on top with 2.9 percent.

Then does well energy A2A, in the green by 2.0 percent, while BPER Banca with an asset of1.7 percent closes the podium. The latter, together with Intesa Sanpaolo -- in the red by 0.5 percent -- and Homepal, made it known that they have formed a strategic and commercial partnership to create "a real estate operator that will aim to enhance and develop activities in real estate, a sector in which the companies have concluded about 10,000 real estate purchase and sale transactions since launch."

The initial investment by Intesa Sanpaolo and BPER Banca will total EUR15 million, to enhance services and communication.

On the Mid-Cap, Salcef Group is 1.5 percent in the red. It reported Wednesday morning that group companies recently signed contracts totaling EUR105 million with domestic clients.

El.En. gives up 4.6 percent after announcing Tuesday evening that, as of June 30, it reported consolidated sales of EUR345.6 million up 6.0 percent from EUR326.9 million as of June 30, 2022. Group net income is EUR25.8 million down 9.3% from EUR28.4 million in the first half of 2022.

Tamburi Investment Partners rises 0.6 percent after reporting a pro forma half-year profit at the consolidated level of EUR64.7 million up sharply from EUR24.2 million in the same period last year.

Maire Tecnimont - in the green by 0.4% - announced Tuesday that its board of directors approved the issuance of a fixed-rate, unrated Senior Unsecured Sustainability-Linked Non-Convertible Bond for a minimum of EUR120 million and a maximum of EUR200 million.

Seco gives up 0.1 percent after half-year results that showed a profit of EUR10.0 million up from EUR6.8 million in the same period last year.

Adjusted net income rises to EUR12.6 million from EUR8.6 million, an increase of more than 46 percent.

Brembo gives up 0.4 percent. SGL Carbon and Brembo have agreed to expand the production capacity of the Brembo SGL Carbon Ceramic Brakes joint venture, a statement announced Tuesday.

The two companies, together with BSCCB itself, have defined the project that will lead the JV to invest about EUR150 million until 2027 to expand production activities by more than 70 percent at its sites in Meitingen, Germany, and Stezzano, Italy.

On the Small-Cap, SAES Getters gains more than 13 percent. On Tuesday it reported consolidated half-year revenues of EUR122.3 million, up 1.7 percent from EUR120.2 million in the first half of 2022.

Consolidated gross industrial profit stood at EUR53.5 million, up 0.5% from EUR53.2 million as of June 30, 2022

In addition, the company received a favorable opinion from the Federal Trade Commission on the transaction to sell the Nitinol business for medical applications to the U.S. company Resonetics.

Esprinet rises 5.8 percent after finishing the day trailing 21 percent. Tuesday's board ah reported adjusted half-year profit fell 65% to EUR6.4 million from EUR18.3 million in the same period last year.

In the coming days the parties will define the technical modalities and timing for reaching the closing of the transaction.

Giglio Group advances 1.0 percent after its half-yearly report approved Tuesday, in which it reported a close-to-balance result--a loss of EUR30,000--a strong improvement from a loss of EUR252,000 in the first half of 2022.

Revenues were down, to EUR15.7 million from EUR19.6 million in the same period last year.

Among SMEs, Circle climbs 2.8 percent after announcing Tuesday that it achieved a 35 percent increase in value of production in the first half to EUR7.0 million from EUR5.2 million in the same period of 2022.

Italia Independent Group divests 27 percent after announcing Tuesday evening that it has entered into a sale and purchase agreement with M Group, which controls Alessandro Lanaro's Modo Group, for the sale of the "Italia Independent" brand, owned by its subsidiary Italia Independent Spa, for a consideration of EUR1 million.

The sale of the trademark is in the context of the activities envisaged by the restructuring agreements reached with the creditors of IIG and I-I and also includes a commitment by the company to change its corporate name and that of its subsidiary company to words other than "Italia Independent."

TMP Group gives up 7.3 percent. The company announced Tuesday evening that it had signed a strategic agreement with contracted revenues for TMP Group worth EUR500,000, which will be invoiced by the end of the year.

The partnership was signed with INDI Agency, a Milan-based company started in 2023 by experienced entrepreneurs with the aim of providing the value chain with a new and unique Communication, Sustainability and Innovation Hub, the company specified in a note.

Finanza.tech gives up 6.1 percent after it closed on top with an 18 percent rise following Tuesday's approval of its half-year report as of June 30, which shows a strong growth trend, with a triple-digit increase in net income to EUR804,464 from EUR330,588 in the first half of 2022.

Consolidated revenues amounted to EUR7.5 million from EUR2.1 million, also up triple digits from H1 2022.

In New York at the height of trading on Wednesday, the Dow is in the green by 0.2 percent, the Nasdaq rises 0.4 percent, and the S&P 500 gains 0.3 percent.

Among currencies, the euro changes hands at USD1.0743 versus USD1.0726 in Tuesday's European equities close, while the pound is instead worth USD1.2499 from USD1.2478 Tuesday evening.

Among commodities, Brent crude is worth USD92.14 per barrel versus USD92.09 per barrel at Tuesday's close. Gold, on the other hand, trades at USD1,935.05 an ounce from USD1,912.50 an ounce Tuesday evening.

On Thursday's economic calendar at 0101 CEST comes RICS data on housing prices in the UK.

From Japan at 0150 CEST, it is the turn of data on main machinery orders.

In Europe, at 0820 CEST the Swiss producer price index for August is released.

At 1415 CEST, it is the ECB's turn with monetary policy statements and interest rate decisions. At 1430 CEST there will be a press conference.

Overseas, at 1430 CEST are data on unemployment claims from the US, the producer price index and retail sales.

At Piazza Affari, the half-year results of Bialetti Industrie, I Grandi Viaggi, Integrade System Credit Consulting Fintech, Italian Wine Brands, LVenture, Next Re, Sesa and Softec 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.