(Alliance News) - The Mib advanced in the 28,400 area on Wednesday, outperforming other European exchanges, with Nexi acting as the locomotive after news spread that British fund CVC Capital Partners is considering a potential bid for the group.

However, the prevailing sentiment in Europe remains cautious due to the escalation of the conflict in the Middle East on the day of Joe Biden's arrival. A mission that could not have gotten off to a worse start with the entire area inflamed by the news and images of the destroyed hospital in Gaza, with accusations exchanged between Hamas and the Israeli army. Certainly the dead are numbered in the hundreds, with protests running rampant. Abu Mazen thus canceled his meeting with Biden, and so did the Jordanian government.

On the macro data side, the euro area's annual inflation rate was 4.3 percent in September, down from 5.2 percent in August. A year earlier, the rate was 9.9 percent. The figure records the lowest since October 2021. The data are published Wednesday by Eurostat, the European Union's statistical office. The core inflation rate -- which filters out volatile food and energy prices -- was also confirmed at 4.5 percent in September, marking its lowest point since August 2022.

Thus, the FTSE Mib is advancing 0.2 percent to 28,426.27, the Mid-Cap is in the red 0.5 percent to 38,711.69, the Small-Cap is giving up 0.1 percent to 25,237.79, while Italy Growth is advancing 0.1 percent to 7,934.76.

In Europe, London's FTSE 100 is in the red by 0.3 percent, Paris' CAC 40 is giving up 0.2 percent, and Frankfurt's DAX 40 is retreating with 0.3 percent.

On the main list of Piazza Affari, Nexi is pushing ahead more than 15 percent, as mentioned at the opening, 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 advances with 4.7 percent after a 1.1 percent gain on the eve. Also doing well is parent company Eni, up with 1.3%, and Tenaris in the green by 0.9%.

Moncler, on the other hand, advances 1.6% to EUR53.84, on the heels of eve's gain, albeit with 0.1%.

Among the bearish, Mediobanca sits on the bottom giving up 2.5%. 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'.

Italgas, on the other hand, retreats with 1.1 percent, after two sessions ended with bullish candle. 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, strength on Tod's, with the stock advancing 1.5 percent to EUR31.88 per share, breaking a five-session downtrend.

First wagons also for Sanlorenzo, which marks a plus 1.3 percent to EUR36.25 per share after a 1.1 percent gain on the eve of the session.

Banca Popolare di Sondrio marks a 0.2% red after announcing Tuesday that it successfully placed a new covered bond issue with institutional investors for a benchmark amount of EUR500 million and 5-year term. The placement was made as part of the EUR5 billion covered bond program, backed entirely by residential mortgages.

Carel Industries, on the other hand, is giving up 7.3 percent, bringing its price down to EUR20.35 per share. after a 1.4 percent asset gain on the eve of the meeting.

On the Small-Cap, Softlab is advancing 4.3 percent with new price at EUR1.5650 after eve's 4.8 percent decline.

TXT-Solution, on the other hand, marks a plus 4.1%, bringing its year-to-date assets to over 32%.

Among the bearish, Eurotech marks a minus 2.7 percent, after Tuesday's gain of 2.3 percent.

Bastogi, on the other hand, gives up 2.2 percent. The longest-lived Italian company listed on the Italian stock exchange is priced monent in the EUR0.54 area.

Among SMEs, TraWell Co is up 7.4 percent after announcing Tuesday that following its strong first-half performance, the board of directors approved an update to the 2023-2027 Business Plan. Specifically, expected full-year revenues rise to EUR31.1 million from EUR23.6 million, an increase of 32 percent. Ebitda is expected at EUR10.60 million from EUR4.60 million, the of the expected value in October 2022.

ESI, on the other hand, marks a rise of more than 14% after a 9% profit on the eve of the meeting. 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.

Destination Italia is surrendering 4.4 percent, after eve's 6.4 percent gain that broke three sessions of losses.

G Rent also retreats 4.4%, with price at EUR0.7650. The stock on a monthly basis marks minus 18 percent.

In New York on European night, the Dow closed in fractional green at 33,997.65, the Nasdaq gave up 0.3 percent to 13,533.75 while the S&P 500 finished below par at 4,373.20.

Among currencies, the euro changed hands at USD1.0562 against USD1.0582 recorded in Tuesday's European equities close, while the pound was worth USD1.2189 from USD1.2190 on Tuesday evening.

Among commodities, Brent crude is worth USD92.44 per barrel from USD89.77 per barrel at yesterday's close. Gold, meanwhile, trades at USD1,943.44 an ounce from USD1,925.01 an ounce last night.

On Wednesday's macroeconomic calendar, in the afternoon, as usual, will come US mortgages at 1300 CEST and building permits at 1430 CEST.

At 1630 CEST, US oil stocks will come out.

By Maurizio Carta, Alliance News reporter

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