(Alliance News) - The FTSE Mib closed bearish on Wednesday, in line with other European exchanges, setting the bar in the 28,200 area. Trading rooms assess the less-than-optimistic outlook for global growth, as well as looking for further clues on what might be the trajectory of interest rates by major central banks.

Recent data revealed that German industrial orders -- Europe's top economy -- slumped nearly 12 percent in July, exceeding the expected 4 percent drop and marking the sharpest contraction since 2020. Attention is also focused on oil, with Saudi Arabia and Russia extended their voluntary supply cuts until the end of the year.

Thus, the FTSE Mib gives up 1.5 percent to 28,211.46, the Mid-Cap is in the red 1.5 percent to 41,390.27, the Small-Cap gives up 1.2 percent to 26,875.38 while Italy Growth gives up 0.9 percent to 8,797.31.

In Europe, Paris' CAC 40 gives up 0.8 percent, Frankfurt's DAX 40 down 0.2 percent, as does London's FTSE 100.

On the bluechip list, among the few stocks on the positive side, Leonardo advanced well, posting a plus 1.0%.

Pirelli, on the other hand, advanced 0.4%, in its third bullish session.

Prysmian - up 0.1% - on Tuesday announced that it has signed a capacity reservation agreement for a capacity reservation fee of up to about EUR90 million with Marinus Link Pty, a subsidiary of TasNetworks, Australia's transmission systems operator, for a new power interconnection between Tasmania and the state of Victoria. The agreement provides for, among other things, the Commonwealth government's guarantee of the capacity reservation fee of up to about EUR90 million and Prysmian's continued availability of capacity until the final contract is signed to be in place by July 2024.

Banca Monte dei Paschi, on the other hand, gives up 5.6 percent to EUR2.32 per share, after surging, albeit by 0.9 percent, in the previous session.

Assicurazioni Generali - in the red by 0.8 percent - placed on Tuesday a new euro-denominated Tier 2 bond maturing in September, issued in a "green" format under its Sustainability Bond Framework.

On the Mid-Cap, Banca Popolare di Sondrio advanced well, posting plus 1.5 percent, rearing its head again after four bearish sessions.

Antares, on the other hand, rallied 1.3 percent to EUR6.50 per share, after a 0.8 percent gain on the eve.

Anima Holding--down 0.7 percent--reported Wednesday that net inflows from assets under management in August were positive at EUR256 million. Taking into account Branch I insurance proxies, negative EUR1.12 billion, total net inflows for the month were negative EUR866 million, and negative EUR742 million since the beginning of the year. At the end of August, the group's total assets under management stood at about EUR188.2 billion up from EUR182.8 billion recorded on August 31, 2022.

Safilo, on the other hand, gave up 6.7 percent. The company on Tuesday morning announced that, following previous communications from the company, it confirms that the minutes of agreement for the future of the Longarone plant was signed this morning in the Veneto Region.

De Longhi, on the other hand, gave up 7.1 percent to EUR22.90, after a 0.6 percent loss on the eve of the meeting.

On the Small-Cap, Olidata takes the top spot with a 25 percent rise after reporting Tuesday that it was awarded an Enel contract worth about EUR5.0 million through its subsidiary Sferanet. The contract is for a digitization and document management solution, Olidata points out in a statement.

Beewize, on the other hand, picked up 4.1 percent, rebounding after three bearish sessions.

Servizi Italia, meanwhile, advances 0.4 percent to EUR1.29 per share, in its third bullish session.

Piquadro advances 2.7% to EUR2.32, after touching a 52-week high at EUR2.35. The company, which is continuing with its buyback program, most recently disclosed on Monday that it bought back its own shares in the period between August 28 and September 1 for a total value of about EUR67,000.

Netweek, on the other hand, gave up 5.9 percent, with price at EUR0.3220, in its third bearish session.

Immsi closed 1.0 percent in the red, after a 1.5 percent gain on the eve of the session. The company reported Tuesday that its board of directors approved its half-year report as of June 30, reporting a net profit of EUR47.1 million, up 27 percent from EUR24.4 million in the same period of 2022. Revenues amounted to EUR1.28 billion, up from EUR1.07 billion in the first half of 2022.

Among SMEs, good trades on Finanza.Tech, which posted a plus 1.9% at EUR0.7460 rearing its head after three sessions in a bearish trend.

The buy side also prevails on 4AIM Sicaf, which marked a plus 4.1% after four bearish sessions.

Digital360 closed flat EUR5.34, despite the fact that the company announced Tuesday that it had concluded through its Spanish subsidiary Digital360 Iberia SL, the acquisition of a 51 percent stake in Omnitel Comunicaciones SL, and 55 percent in AdjudicacionesTic SL, both based in Madrid, with the possibility of acquiring the remaining shares in 2026, in conjunction with the approval of the budget for the year 2025.

Italia Independent closed down 4.2 percent, ranking in the rear with price at EUR0.57.

Estrima, on the other hand, left 4.0 percent on the parterre after a 5.5 percent gain on the eve.

Among U.S. exchanges, the Dow Jones trades in the red by 0.6 percent, the S&P is down 0.8 percent, and the Nasdaq finished down 1.1 percent.

Among currencies, the euro changes hands at USD1.0715 to USD1.0715 in Tuesday's European equities close while the pound is worth USD1.2502 to USD1.2565 Tuesday evening.

Among commodities, Brent crude is worth USD90.19 per barrel versus USD90.78 per barrel at Tuesday's close. Gold, on the other hand, trades at USD1,916.47 an ounce from USD1,927.00 an ounce Tuesday evening.

On Thursday's economic calendar, China's trade balance is due at 0500 CEST, while at 0800 CEST from the UK it will be the turn of Germany's Halifax index of house prices and industrial production. At 1000 CEST, Italy's retail sales figure is released.

At 1100 CEST, from the Eurozone comes the employment, current account and GDP data.

From the U.S., at 1430 CEST, there are claims for unemployment benefits, at 1730 CEST the crude oil stocks figure and the Cushing inventory in addition to the 4- and 8-week Treasury auctions.

At 2255 CEST, however, a speech by FOMC memebro Bowman is scheduled.

On the corporate calendar, upcoming half-yearly reports from Equita Group, Eurotech, Gas Plus, MutuiOnline Group, Intermonte Partners SIM, IVS Group, LU-VE, MeglioQuesto, Neodecortech, SOL and Italian Sea Group.

By Maurizio Carta, Alliance News reporter

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