(Alliance News) - On Wednesday, the Mib closed in a bearish trend, despite a good morning performance in which the buy side prevailed, reflecting a cautious mood on par with other major financial markets in the face of the escalating conflict in the Middle East. Traders kept their attention high on Joe Biden's arrival in Israel.
A mission that couldn't have gotten off to a worse start with the entire area inflamed by news and images of the destroyed hospital in Gaza, with accusations exchanged between Hamas and the Israeli army. Meanwhile, as protests ramped up, Abu Mazen canceled his meeting with Biden, with the same choice made by the Jordanian government, thus blowing up the four-way summit in the Jordanian city of Amman.
The FTSE Mib therefore, closed down 0.8 percent to 28,135.79, the Mid-Cap closed 1.2 percent in the red to 38,430.10, the Small-Cap gave up 0.7 percent to 25,069.27 while Italy Growth advanced 0.2 percent to 7,944.40.
In Europe, London's FTSE 100 closed 1.1 percent in the red, Paris' CAC 40 gave up 0.9 percent, and Frankfurt's DAX 40 retreated 1.0 percent.
On the main list of Piazza Affari, Nexi closed ahead with a 13 percent gain, following rumors from the Bloomberg agency about a possible interest in the Italian company by private equity fund CVC capital.
Strength also on Saipem, which advanced with 3.7 percent after a 1.1 percent gain on the eve.
Parent company Eni also did well, up with a more modest 0.7 percent. The six-legged dog reported Wednesday that it had bought back 4.2 million of its own ordinary shares between October 9 and 13, for a total value of EUR63.3 million.
Among the bearers, Mediobanca closed down 3.9 percent. The company reported that Compass, the group's consumer credit company, has finalized the acquisition of 100 percent of HeidiPay Switzerland AG, a Swiss fintech specializing in Buy Now Pay Later. The deal signed last June strengthens the partnership with HeidiPay AG, a holding company specializing in the development of fintech platforms to support BNPL in the world of e-commerce and for physical points of sale, in which Compass already holds a 19.5 percent stake as of August 2022.
In addition, DBS cut its target price to EUR10.30 from EUR11.30, downgrading the stock to 'sell' from 'hold'.
Interpump, on the other hand, left 3.9 percent on the parterre, bringing its price to EUR40.51, on the heels of eve's 1.1 percent loss.
Italgas, on the other hand, retreated 2.0%, after two sessions ended with bullish candles. The company announced Monday that it had completed the acquisition from Veolia Environnement SA Group of the business unit to which the concessions held in Italy in the water sector belong. For the purchase, the company will be able to pay the Veolia group a total of up to EUR115 million - in terms of equity value -, partly contingent on the achievement of certain targets of the operating companies.
On the Mid-Cap, Tod's did well, with the stock advancing 0.5 percent to EUR31.56 per share, breaking a five-session downtrend.
Good buys were also made on De'Longhi, which closed up 3.7 percent -- doing better than anyone in the segment -- on the heels of Tuesday's gain in which it picked up a plus 1.1 percent.
Banca Popolare di Sondrio marked a 2.1 percent red after announcing Tuesday that it had successfully placed a new covered bond issue with institutional investors for a benchmark amount of EUR500 million and 5-year maturity. The placement was made as part of the EUR5 billion covered bond program backed entirely by residential mortgages.
LU-VE went down 3.0%, closing at EUR19.88. On the stock it is mentioned that it touched a sound new 52-week low at EUR19.22 per share earlier in the day.
Carel Industries, on the other hand, gave up 9.5 percent, bringing its price to EUR19.86 per share, after a 1.4 percent gain on the eve of the day.
On the Small-Cap, Softlab advanced 4.3 percent with new price at EUR1.5650 after eve's decline of 4.8 percent.
TXT-Solution, on the other hand, marked a plus of 2.0 percent, bringing its price to EUR15.00
Among the bearish performers, Fidia posted a minus 4.4 percent, after ending two sessions with a positive balance.
Bastogi, on the other hand, gave up 3.2%. Italy's longest-running listed company was priced in the EUR0.54 area at the end of the day.
Among SMEs, ATON Green Storage closed in the money by 5.4 percent, after declining 1.5 percent on the eve.
Franchi Umberto Marmi, on the other hand, advanced 5.2 percent to EUR6.92 per share. There was an unusually high trading volume on the stock, with more than 39,000 pieces changed hands compared to a three-month daily average of about 1,900.
ESI, on the other hand, was down 2.8 percent after a 9 percent gain on the eve of trading. On Monday evening, it approved its industrial development plan for the period 2024-2026, "aimed at capturing the strong growth trend in installed PV capacity globally, and with the objective of continuing to create value for the company and shareholders," the released note said. Upon completion of the plan, ESI expects to achieve a value of production of EUR69.3 million, with a CAGR (2022A-2026E) of 23 percent. Expected Ebitda at the end of 2026 is EUR6 million with an Ebitda margin of 8.7 percent.
Emma Villas left 8% on the parterre, with the stock marking its 11th consecutive bearish candle.
In New York, with stock exchanges trading at full strength, the Dow is giving up 0.6 percent, the Nasdaq 0.9 percent, and the S&P 500 is posting a 0.8 percent loss.
Among currencies, the euro changes hands at USD1.0530 against USD1.0582 recorded in Tuesday's European stock close, while the pound is worth USD1.2145 from USD1.2190 on Tuesday evening.
Among commodities, Brent crude is worth USD91.11 per barrel from USD89.77 per barrel at yesterday's close. Gold, meanwhile, trades at USD1,944.55 an ounce from USD1,925.01 an ounce last night.
On Thursday's macroeconomic calendar, Japan's trade balance will be due at 0150 CEST. In the morning, it will also be the turn of the current account balance from the Eurozone.
From the U.S., at 1430 CEST, unemployment benefit claims are due while, at 1600 CEST, the existing home sales report will arrive. At 1800 CEST, eyes on Federal Reserve Chairman Jerome Powell's speech, while another speech by FOMC member Harker will close the day.
On the corporate calendar, coming up are the nine-month results of Brunello Cucinelli, Gismondi 1754, Racing Force and Salvatore Ferragamo.
By Maurizio Carta, Alliance News reporter
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