(Alliance News) - Mid-day European stock markets were mixed on Thursday, while S&P Global indices measuring the state of the construction sector in major Old Continent countries recorded another month of contraction.

In the Eurozone, the construction PMI rose to 43.6 points in September from 43.4 points in August, still remaining below the 50.0 point mark that separates contraction from expansion in industry activity for the 17th month in a row.

The sharpest decline in overall construction activity was once again seen in Germany, with the HCOB PMI index falling sharply to 39.3 in September from 41.5 in August, marking the sharpest contraction since April 2020, driven mainly by a broad-based sustained decline in the housing sector.

Italy fared better, with the PMI index rising to 49.8 in September from 47.7 in August, although it remained below the 50.0 point threshold separating contraction from growth.

Thus, the FTSE Mib is down 0.2 percent to 27,389.63, the Mid-Cap is up 0.2 percent to 38,955.33, the Small-Cap is in fractional green at 25,186.54 while Italy Growth is down 0.1 percent to 8,121.13.

In Europe, Paris' CAC 40 is down 0.3 percent as is Frankfurt's DAX 40 while London's FTSE 100 rises with 0.2 percent.

On the main list of the Italian Stock Exchange, Prysmian is doing best of all with 5.0 percent after announcing Thursday its new strategy, including the reorganization of its business into four new segments. In a statement, the company also disclosed the group's financial and non-financial targets to 2027.

The group expects adjusted Ebitda to grow to EUR2 billion in 2027 from EUR1.49 billion in 2022.

Saipem rises 1.6 percent after announcing Thursday that it has signed - in consortium with National Petroleum Construction Company - a Letter of Award with ADNOC for a new contract related to package 1 of the Hail and Ghasha Development Project in the United Arab Emirates.

The value of Saipem's share is approximately USD4.1 billion.

On the bearish side, FinecoBank gives up 2.4 percent after reporting Thursday that net inflows for September were EUR446.7 million, down from EUR514.5 million in the same month a year earlier.

Pirelli gives up 0.5 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."

On the Mid-Cap, Maire Tecnimont is doing best of all with a 4.3 percent rise after making it known that Tecnimont, part of the Integrated E&C Solutions business unit, signed a letter of award with ADNOC on Thursday for the onshore treatment plant at the Hail and Ghasha project.

The total value of the EPC contract is approximately USD8.7 billion and the project is scheduled for completion during 2028.

Iren - in the green by 1.2 percent - announced Tuesday that it has finalized with Granda Energie #3 Srl and through its subsidiary Iren Green Generation, the acquisition of 100 percent of the 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.

On the Small-Cap, algoWatt rises with 7.6 percent and finishes on top, after announcing Wednesday that it has obtained a EUR255,000 financing 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 realization 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.

Unidata--up with 2.2 percent--reported Wednesday evening that its board of directors approved the plan to merge the wholly owned subsidiaries UNITWT Spa, Berenix Srl, and TWT Spa.

Immobiliare Grande Distribuzione SIIQ -- in the green by 0.5 percent -- announced Thursday that it had approved the issuance of a EUR400.0 million senior unsubordinated and nonconvertible bond.

In addition, the board decided to initiate an exchange offer of the bond issue maturing in November 2024 and an offer to repurchase the existing bonds for a cash amount on the condition that a certain amount from the repurchase is reinvested in the purchase of new bonds.

Among SMEs, Circle rises 4.2 percent after it announced Thursday that the group has won a tender issued by the European Maritime Safety Agency to carry out a feasibility study on the development of the Single Maritime Window for a group of neighboring countries that includes Algeria, Egypt, Israel, Jordan, Lebanon, Morocco, Palestine, Tunisia, Georgia, Moldova, Turkey and Ukraine.

The order is worth about EUR144,000.

EdiliziAcrobatica also did well, in the green by 2.7 percent, after announcing Wednesday that Vincenzo Polimeni is the new country manager for France and Monaco.

Almawave, in the green by 1.4 percent, reported Thursday that its subsidiary SisTer won the COMESA - Common Market for Eastern and Southern Africa tender to enhance the Africa Information Highway public data platform, which the African Development Bank makes available to all African countries and regional and subregional organizations.

Spindox still does not trade. On Wednesday, it announced the formal admission of the WICO - Water Quality Innovative Control by Artificial Intelligence - project by the Ministry of Business and Made in Italy to funding under the NRP.

Together with Archa, lead partner, CNR, Acque and Dielectrik, Spindox will develop an intelligent platform for monitoring water for human consumption. The system will target the Lower Valdarno aqueduct, which serves more than 800,000 citizens.

The total investment of the five partners is EUR5.9 million, matched by a total facility of EUR2.8 million, of which Spindox will receive about EUR1.1 million in grants.

In Asia, the Nikkei closed up 1.8 percent, the Hang Seng up 0.1 percent, and the Shanghai Composite closed in the green by 0.1 percent.

In New York, on European night, the Dow closed up 0.4 percent to 33,129.55, the Nasdaq finished in the green 1.4 percent to 13,236.01, and the S&P 500 up 0.8 percent to 4,263.75.

Among currencies, the euro changed hands at USD1.0510 against USD1.0519 recorded in Wednesday's European equities close while the pound was worth USD1.2127 from USD1.2150 on Wednesday evening.

Among commodities, Brent crude is worth USD84.98 per barrel from USD87.15 per barrel at Wednesday's close. Gold, on the other hand, trades at USD1,823.05 an ounce from USD1,824.63 an ounce on Wednesday evening.

On Thursday afternoon's macroeconomic calendar, initial unemployment claims and the trade balance will come out from the US at 1430 CEST. Note that during the afternoon FOMC members Barkin and Daly will speak between 1730 CEST and 1800 CEST.

By Chiara Bruschi, Alliance News reporter

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