(Alliance News) - Piazza Affari is expected to extend recent bearish momentum into Wednesday's opening of trading on a day marked by the arrival of services PMIs from major world economies.

The FTSE Mib is given down 120.0 points or 0.4 percent after closing 1.3 percent in the red at 27,482.21 on Tuesday's session.

London's FTSE 100 is expected to be down 21.9 points or 0.3 percent, Paris' CAC 40 is given down 19.3 points or 0.3 percent, and Frankfurt's DAX 40 is indicated down 61.5 points or 0.4 percent.

In Milan last night, the Mid-Cap gave up 1.1 percent to 38,996.33, the Small-Cap closed 1.1 percent in the red to 25,446.52 while the Italy Growth lost 0.7 percent to 8,172.87.

On the main list of the Italian Stock Exchange, among the few bullish performers was Banca Monte dei Paschi, which closed the session up 1.1 percent, its fourth session in a row on the bullish side.

Amplifon, on the other hand, gained 0.9 percent after falling by the same amount on the eve of the session.

Eni, on the other hand, gave up 1.2 percent despite announcing a major gas discovery made from the Geng North-1 well drilled in the North Ganal license, about 85 km off the east coast of Kalimantan, Indonesia. Preliminary estimates indicate total volumes of 5 trillion cubic feet of gas-equivalent to about 140 billion cubic meters-with condensate content up to about 400 million barrels. The data acquired will allow the study of options for accelerated development.

Moncler closed 0.8 percent in the red, with new price at EUR53.88 per share. Of note, UBS cut its target price to EUR70.00 from EUR73.50.

At the bottom, Prysmian closed down 5.2% at EUR36.26 per share, in profit taking after a string of four bullish sessions. In fact, Prysmian PowerLink SRL -- part of Prysmian Group Spa -- announced Thursday that it had won new contracts 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, Digital Value lost 5.4 percent, settling back to EUR47.50 per share and closing with a bearish candle for the ninth consecutive session.

Sales also prevailed on Maire Tecnimont, down 3.8 percent in the wake of Monday's 2.8 percent red.

Iren -- down 2.9 percent -- announced Tuesday that it had finalized with Granda Energie #3 Srl and through its subsidiary Iren Green Generation, the acquisition of 100 percent of special purpose vehicle WFL Srl. 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 realization of the investment.

Piaggio & C--down 2.3 percent--reported on Wednesday that it had successfully placed a 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.

UBS cut its target price on Brunello Cucinelli to EUR95.00 from EUR101.00. The stock closed up 2.2% at EUR70.75 per share.

The same Swiss bank also reduced its target price on Tod's to EUR55.00 from EUR50.00, with the stock closing down 3.5% to EUR32.76.

Webuild's buyback plan continues, closing down 2.4 percent. The company most recently reported having purchased 40,000 of its own ordinary shares between September 25 and 27, for a total value of EUR67,000 or so.

On the Small-Cap, Triboo gave up 8.6 percent to EUR0.70. 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 lost 1.9 percent after announcing Monday the closing of the transaction to sell the Nitinol business to the U.S. company Resonetics and, in particular, its U.S. subsidiaries Memry Corporation and SAES Smart Materials. The divestment price is USD900 million.

Safilo Group is down 0.8 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 the bullish, KME Group, up 7.5 percent to EUR1.1440, updating its 52-week high of EUR1.1480 earlier in the day.

Also doing well was Bialetti, up 3.4 percent to EUR0.3040, in its third bullish session in a row.

Among PMIs, Altea Green Power gained 7.3%, after two sessions closed with bearish trends.

Health Italia was up 2.7 percent to EUR1.7150 per share, following up the previous session's gain of 7.1 percent.

Doxee closed up 2.9 percent after reporting that it closed the first half with a net loss of EUR3.2 million from net income of EUR300,000 in the same period last year. Revenues were EUR12.1 million, up from EUR11.1 million as of June 30, 2022. Infinica contributed EUR1.8 million to consolidated revenue generation.

Fope, on the other hand, lost 6.7 percent, with price at EUR27.80 per share, rearing its head after two sessions in a row among the bearish.

In Asia, the Nikkei is down 2.3% to 30,526.87, the Hang Seng gives up 1.2% to 17,128.64 while Shanghai is still closed for a national holiday.

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

Among currencies, the euro changed hands at USD1.0466 against USD1.0453 recorded in Tuesday's European equities close while the pound was instead worth USD1.2069 from USD1.2066 on Tuesday evening.

Among commodities, Brent crude is worth USD90.72 per barrel from USD90.86 per barrel at Tuesday's close. Gold, on the other hand, trades at USD1,821.29 an ounce from USD1,832.31 an ounce Tuesday evening.

On Wednesday's macroeconomic calendar, service sector PMIs from Spain, Italy, France, Germany, the Eurozone and the UK are due between 0915 CEST and 1030 CEST.

At 1000 CEST, from Italy, the Gross Domestic Product figure will be due while, an hour later, eyes on Eurozone retail sales.

From the U.S., at 1300 CEST, focus on the Mortgage Market Report while, at 1545 CEST, the U.S. 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.

No particular corporate events are expected on the corporate calendar for the Piazza Affari.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

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