(Alliance News) - On Thursday, major European stock markets are expected to be in negative territory on a quiet day in macroeconomic terms.

"European markets fell yesterday as the political temperature in the Middle East rose further in the wake of the Gaza hospital bombing.

Although evidence has emerged that Israel was probably not responsible for the blast, the reality is that the truth of who it is no longer matters and only serves to reinforce people's already entrenched positions," commented Michael Hewson, chief market analyst at CMC Markets.

"With Iran calling for an oil embargo, the region is becoming even more uncertain. U.S. markets also fell sharply, with the S&P500 giving up all of its gains this week and closing at one-week lows. In the absence of a positive catalyst in the coming days, there is a risk of seeing further weakness if tensions intensify. For now, European markets look set to open slightly lower, while Asian markets are also down sharply this morning."

Thus, IG futures give the FTSE Mib in the red by 0.8 percent or down 212.5 points after closing down 0.8 percent at 28,135.79.

Paris' CAC 40 is expected to be in the red 0.8 percent or down 56.8 points, Frankfurt's DAX 40 is given down 0.7 percent or down 98.0 points, and London's FTSE 100 is expected to be down 36.0 points or 0.5 percent.

Among other listings in Milan on Wednesday, the Mid-Cap closed 1.2% in the red at 38,430.10, the Small-Cap gave up 0.7% to 25,069.27 while Italy Growth advanced 0.2% to 7,944.40.

On the main list of Piazza Affari, Nexi closed ahead with a 13 percent gain after 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, a Swiss fintech specializing in Buy Now Pay Later. The deal signed last June strengthens the partnership with HeidiPay, 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 also on De' Longhi, which closed up 3.7 percent--doing best of all 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 on Wednesday it touched a sound new 52-week low at EUR19.22 per share.

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.

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 2.0%, bringing its price to EUR15.00.

Among the bearers, 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 photovoltaic 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 Asia, the Nikkei gives up 1.8% to 31,475.34, the Hang Seng is in the red 2.0% 17,375.66, and the Shanghai Composite gives up 1.2% to 3,023.63.

In New York on Wednesday, the Dow Jones closed 1.0% in the red at 34,575,533,665.08, the S&P finished down 1.3% at 4,314.60, while the Nasdaq closed 1.6% in the red at 13,314.30.

Among currencies, the euro changed hands at USD1.0530 against USD1.0530 recorded in Wednesday's European equities close, while the pound was worth USD1.2114 from USD1.2145 on Wednesday evening.

Among commodities, Brent crude is worth USD91.00 per barrel from USD91.11 per barrel at Wednesday's close. Gold, meanwhile, trades at USD1,957.95 an ounce from USD1,944.55 an ounce on Wednesday evening.

On Thursday's macroeconomic calendar, the current account balance from the Eurozone is due at 1000 CEST.

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 and Salvatore Ferragamo.

By Claudia Cavaliere, Alliance News reporter

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