(Alliance News) - The major European indexes continue to fall but recover some of their losses from the start of the session after the release of some macroeconomic data relevant to the main Eurozone areas.

The Eurozone Composite PMI index for September registered below 50.0 for the fourth consecutive month, standing at 47.2 and up slightly from 46.7 in August, again reporting a moderate contraction in activity levels in the Eurozone private sector economy.

Italy's services PMI rose to 49.9 points in September from 49.8 points in August, approaching the 50.0 point mark that separates contraction from expansion in sector activity. The composite PMI -- an average of manufacturing and services -- rose to 49.2 points in September from 48.2 in August, but remained in contraction territory.

Also for Italy, Istat reported that Italy's Gross Domestic Product decreased 0.4 percent in the second quarter on a quarterly basis, after increasing 0.6 percent in the first quarter compared to the last quarter of 2022. Istat's last estimate was for a 0.4 percent decline, released Sept. 1. On an annual basis, the increase was revised to 0.3 percent from 0.4 percent in the second quarter while, in the first quarter, annual growth had been 1.9 percent.

Thus, the FTSE Mib is in the red by 0.1 percent to 27,452.82, the Mid-Cap gives up 0.4 percent to 38,856.96, the Small-Cap is in the red by 0.5 percent to 25,312.72 while Italy Growth is down 0.3 percent to 8,145.54.

In Europe, Paris' CAC 40 is up 0.1 percent to 7,002.47, Frankfurt's DAX 40 gives up 0.1 percent to 15,057.00 while London's FTSE 100 rises 0.1 percent to 7,480.68b.

On the main list of the Italian stock exchange, Stellantis gives up 0.3 percent after the company reported third-quarter sales of 380,563 vehicles, down 1 percent from the same period last year.

Pirelli gives up 1.0 percent after signs of Chinese disengagement. "Last September 29, the shareholders' agreement on a 5 percent stake in Pirelli shares held by Silk Road Fund and entered into with Sinochem expired. In total, Beijing's shareholders have 46 percent, but after the Italian government exercised its Golden Power, they have lost virtually all concrete power over Bicocca," as Alliance News columnist Francesco Bonazzi commented.

"At current prices, then, 9 percent of Silk Road Fund would be worth EUR400 million and 37 percent of Sinochem would be worth EUR1.65 billion. The Chinese, who are directly controlled by the state and the Communist Party, had entered Pirelli in 2015 by investing about EUR7 billion (including EUR4 billion in debt taken over). Marco Tronchetti Provera, who has always maintained the lead despite the fact that his Camfin had just 14 percent, with Beijing's capital was able to repay a large part of the debt with Italian banks and prevent Pirelli from being taken over by locust funds."

Prysmian fared poorly, down 1.3 percent. The company announced Thursday that it had won new orders worth a total of about EUR1.1 billion awarded by 50Hertz, a transmission network operator in Germany.

As part of 50Hertz's tender for "long-term EPCI contracts for high-voltage DC cables," Prysmian won an order for Lot 2, which includes EPCI contracts for the NOR-11-1 submarine cable and DC31 terrestrial cable project, and for Lot 7.

On the Mid-Cap, Acea rises 0.6 percent, but fellow energy company Iren gives up 0.4 percent. The company announced Tuesday that it has finalized with Granda Energie #3 and through its subsidiary Iren Green Generation, the acquisition of 100 percent of the special purpose vehicle WFL.

The value of the 100 percent stake acquired by Iren is EUR2.2 million in addition to the repayment of the shareholder loan made by Granda Energie #3 to WFL for the implementation of the investment.

Piaggio & C--down 0.2 percent--reported Wednesday that it had successfully placed the EUR250.0 million senior high-yield bond, maturing in seven years. The bond has a fixed annual interest rate of 6.5 percent and an issue price of 100 percent.

PharmaNutra--in the green by 0.6 percent--confirmed Tuesday the operational start of its U.S. subsidiary PharmaNutra USA, incorporated on Dec. 12, 2022.

Among the bullish performers are Caltagirone and Eurogroup Laminations, in the green by 1.9 percent and 1.2 percent, respectively.

On the Small-Cap, algoWatt rises 1.8 percent after reporting Wednesday that it has been awarded a EUR255,000 grant for digital energy solution provider & system integrator activities on the ResilMesh project, funded under the Horizon Europe program.

In the ambitious context of holistic protection of critical infrastructures, the ResilMesh project will develop a set of innovative tools for the implementation of a Security Orchestration and Analytics Platform Architecture - SOAPA founded on the concept of cybesecurity awareness to improve the resilience of digital infrastructures through the achievement of several objectives.

Triboo rises 2.3 percent. The company announced last Friday that it closed the first half of the year with a loss of EUR468,000 from a profit of EUR930,000 recorded in the same period last year. As of June 30, total revenues stood at EUR42.1 million from EUR48.3 million in the first half of 2022.

SAES Getters gives up 0.2 percent after announcing Monday the closing of the transaction to sell the Nitinol business and, in particular, its U.S. subsidiaries Memry Corporation and SAES Smart Materials to the U.S. company Resonetics. The divestment price is USD900 million.

Safilo Group drops 1.8 percent. The company announced Friday that contracts have been signed for the sale of business units related to the Longarone plant to sector companies Thélios and Innovatek. The closing of the transactions, subject to the fulfillment of conditions precedent, is scheduled for late October.

Among SMEs, Sicily by Car gives up 0.3 percent after it announced on Tuesday the launch of "SBCplus Plurimesto 6-12 months," the new service dedicated to all customers--private and corporate--and active from today throughout the country.

eVISO gives up 0.4 percent after reporting Tuesday that data provided by the Integrated Information System showed double-digit growth in electricity volumes managed by the company.

In fact, electricity volumes managed by eVISO, both in terms of direct customers and resellers, have risen 17 percent in the past three months.

Fenix Entertainment ranks at the bottom by giving up 22 percent. The company on Tuesday reported that the auditing firm BDO Italia Spa issued its limited audit report on the interim consolidated financial statements as of June 30 stating that it "is unable to express an opinion due to significant uncertainties on the financial front that could have an impact on the going concern in the near future," the company explained in a note.

In Asia, the Nikkei closed down 2.3 percent at 30,526.88, the Hang Seng gave up 0.8 percent to 17,195.84 while Shanghai is still closed for a national holiday.

In New York last night, the Dow closed down 1.3 percent to 33,002.38, the Nasdaq gave up 1.9 percent to 13,059.47 while the S&P 500 lost 1.4 percent to 4,229.45.

Among currencies, the euro changed hands at USD1.0493 against USD1.0453 recorded in Tuesday's European equities close while the pound was instead worth USD1.2105 from USD1.2066 on Tuesday evening.

Among commodities, Brent crude is worth USD90.00 per barrel from USD90.86 per barrel at Tuesday's close. Gold, on the other hand, trades at USD1,837.65 an ounce from USD1,832.31 an ounce Tuesday evening.

On Wednesday's macroeconomic calendar, from the US, at 1300 CEST, focus on the mortgage market report while, at 1545 CEST, the US services PMI will be released, followed 15 minutes later by durable goods and factory orders data.

At 1630 CEST, the crude oil stocks data will be released, as well as the Cushing inventory and EIA report.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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