(Alliance News) - Mid-day Wednesday, European markets remain in contraction, following the release of data on Eurozone industrial production, which fell more sharply than expected in July.

The new data from Eurostat thus show further signs of a slowdown in the Eurozone economy on the eve of the ECB's interest rate decision on Thursday.

In detail, seasonally adjusted industrial production in July fell 1.1 percent on a monthly basis, following a 0.4 percent increase in June. The figure was worse than the market consensus cited by FXStreet, which expected a 0.7 percent decline.

On a yearly basis, industrial production fell 2.2 percent, after a 1.1 percent decline in June. This figure was significantly worse than the consensus, which expected a 0.3 percent decline.

Thus, the FTSE Mib gives up 0.7 percent to 28,370.44, the Mid-Cap is down 0.7 percent to 40,903.14, the Small-Cap advances 0.2 percent to 26,574.90, and Italy Growth is in the red 0.4 percent to 8,718.44.

In Europe, London's FTSE 100 gives up 0.2 percent, Paris' CAC 40 is in the red 0.5 percent and Frankfurt's DAX 40 is down 0.7 percent.

On the main index in Piazza Affari, Banca Monte dei Paschi di Siena remains on top with 1.7 percent, followed by Iveco Group with 1.6 percent and BPER Banca with 1.0 percent. The latter, together with Intesa Sanpaolo -- in the red by 0.3 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.

Also among the few bullish performers were ERG and Eni, both up 0.3 percent.

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

El.En. remains among the worst performers and gives up 2.4 percent after announcing Tuesday evening that, as of June 30, it reported consolidated revenues of EUR345.6 million up 6.0 percent from EUR326.9 million as of June 30, 2022. Group net income was EUR25.8 million down 9.3% from EUR28.4 million in the first half of 2022.

Tamburi Investment Partners remains in the upper quarters with 1.3 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 -- down 1.8 percent -- 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 3.6 percent after rising 3.1 percent on the eve of the meeting, following 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%.

Brembo gives up 1.4 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 12 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, LLC.

Esprinet rises 3.9 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 1.2 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, suspended after a drop of 15%, announced Tuesday evening that it had entered into a sale and purchase agreement with M Group Sàrl, 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 divests 4.5 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 5.5 percent after closing 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 on European night, the Dow closed fractionally in the red, the Nasdaq down 1.0 percent and the S&P 500 down 0.6 percent.

Among currencies, the euro changed hands at USD1.0730 versus USD1.0726 at Tuesday's European equity close, while the pound was worth USD1.2462 from USD1.2478 Tuesday night.

Among commodities, Brent crude is worth USD92.59 per barrel versus USD92.09 per barrel at Tuesday's close. Gold, on the other hand, trades at USD1,933.60 an ounce from USD1,912.50 an ounce Tuesday evening.

On Wednesday afternoon's economic calendar, mortgage details will come in from the US at 1300 CEST while monthly and annual CPI will come in at 1430 CEST.

At 1630 CEST crude oil stocks will come out.

In Piazza Affari, the half-year results of Alkemy, Caleffi, CY4Gate, Fine Foods & Pharmaceuticals NTM, Franchetti, IRCE, Mondo TV, Orsero and Toscana Aeroporti are expected.

By Chiara Bruschi, Alliance News reporter

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