(Alliance News) - European stock markets mark a mixed trend according to the futures market on Wednesday, with Piazza Affari bearish after a good performance by Asian stock markets.

The Nikkei 225 index in Tokyo is up 1.0 percent, the Shanghai Composite index marks a plus 0.5 percent, and Hong Kong's Hang Seng index is in the green by 0.9 percent.

China surprised markets with a stimulus boost to equities, unveiling plans for USD137 billion in additional debt to boost infrastructure spending. These funds are to be distributed to local governments to support growth. The move will bring the fiscal deficit ratio for 2023 to about 3.8 percent of gross domestic product, the official Xinhua news agency said Tuesday, well above the 3 percent usually considered Beijing's limit.

The FTSE Mib, therefore, is trading down 30.00 points, after picking up 0.1 percent to 27,572.74 last night.

In Europe, London's FTSE 100 is advancing 7.80 points, Paris' CAC 40 is giving up 9.30 points, and Frankfurt's DAX 40 is advancing 23.00 points.

Among the smaller lists on Tuesday, the Mid-Cap closed just above par at 38,220.91, the Small-Cap up 0.5 percent to 24,420.47 and Italy Growth in the red 0.1 percent to 7,748.85.

On the main list of Piazza Affari last night, ERG advanced well, picking up 2.1 percent, rearing its head after three bearish sessions.

UniCredit, on the other hand, advanced 1.3 percent. On Tuesday morning the board of directors approved "record results" for the first nine months of the year, during which the group made a profit of EUR6.70 billion, up nearly 68 percent from EUR4.00 billion in the same period of 2022. In the third quarter, the group realized revenues of EUR6.00 billion, up 24 percent from EUR4.82 billion in the third quarter of 2022. Net interest income amounted to EUR3.60 billion, up 45 percent from EUR2.48 billion in the same period of 2022, mainly due to higher interest rates and good management of deposit pass-through.

Enel rallied 1.4 percent after announcing Monday that it has signed an agreement with Ormat Technologies Inc. through its wholly owned subsidiary Enel Green Power North America Inc. to sell a portfolio of renewable assets in the US. The sale will be for a total consideration of USD271 million, subject to the usual adjustments for this type of transaction. The portfolio consists of about 150 MW of geothermal and solar plants in operation.

Iveco Group, on the other hand, gave up 0.1 percent. On Monday it reported that it purchased 160,180 of its own ordinary shares between Oct. 16 and Oct. 20. The shares were taken over at an average unit price of EUR8.4847, for a total value of EUR1.3 million.

Also on the bearish side, Nexi left 2.0 percent on the parterre, with new price at EUR6.30 and on the heels of the eve's loss closed below 2.9 percent.

On the cadet segment, Salcef rallied 4.4 percent, following Monday evening's 2.0 percent gain as it continues its buyback program. Most recently, it reported Monday that it bought back 27,703 of its own ordinary shares between Oct. 16 and Oct. 20, for a total value of EUR620,000 or so.

Intercos, on the other hand, advanced 2.5 percent to EUR13.10 per share after a 5.1 percent gain in the previous session.

Bullish cue also for Brunello Cucinelli, which closed with a 2.6 percent bullish candle, on its fourth session in a row in surplus.

Technogym left 0.8 percent at EUR7.13 per share on the platter, following a 3.0 percent red finish in the previous session.

Caltagirone closed 0.8 percent in the red, with new price at EUR3.87 per share, following the previous session's 3.0 percent loss.

Fincantieri contracted 1.2%. The company on Monday announced that Vard, among the world's top companies in specialty shipbuilding and part of the Fincantieri Group, and the Windward Offshore consortium have signed a contract for the design and construction of two hybrid Commissioning Service Operation Vessels. The contract also includes an option for two additional vessels. First delivery is scheduled in the second quarter of 2025.

Maire Tecnimont -- down 1.5 percent -- announced Monday that it has been awarded new contracts worth a total of about USD60 million in its Sustainable Technology Solutions business unit. Specifically, the company points out in a note, STS was awarded licensing and equipment supply contracts for an "Ultra Low Energy" urea plant in China for client Shandong Lianmeng Chemical Company.

On the Small-Cap, SIT gave up 6.8 percent, after a 4.2 percent loss on the eve and new price at EUR2.35.

Somec, on the other hand, gave up 4.6 percent to EUR24.80, per share continuing the downtrend seen in recent sessions.

Esprinet - in the red by 0.9% - announced that it will distribute Garanteasy in Italy, a cloud service built around consumer needs that makes it easy to manage any type of warranty on consumer goods by connecting all players in the warranty ecosystem: stores, e-commerce, manufacturers, insurance companies, service centers and payment systems.

Sogefi gave up 0.7 percent, on the heels of a 1.5 percent decline on the eve of the day. The company said Monday that it reported net income for the first nine months of the year of EUR45.8 million, up 39 percent from EUR33.0 million in the same period last year. Revenues stood at EUR1.25 billion, up 8.1 percent from EUR1.15 billion in the first nine months of 2022.

Piquadro -- up 1.0 percent -- on Tuesday reported consolidated sales figures for the first half of fiscal 2023/24 ended Sept. 30 for its Piquadro, The Bridge and Lancel brands of EUR85.9 million, up 7.1 percent from the same period last year that ended at EUR80.2 million including the effect of exchange rate changes. At constant exchange rates, the increase was 8.1 percent.

Aquafil, on the other hand, picked up 10 percent, rearing its head again after two bearish sessions with price at EUR2.29.

Among SMEs, Take Off posted a rise of more than 12 percent. It reported Monday that it reported core revenues of EUR22.2 million for the first nine months of the year, up 12 percent from EUR19.6 million in the same period a year earlier.

Health Italia, meanwhile, rose 5.7 percent, priced at EUR1.48 per share, breaking a three-session bearish mini-trend.

Altea Green Power stretched 6.1%, following the active trend of the eve that closed with a plus 3.7%.

Datrix gave up 2.4 percent after reporting Monday that subsidiary ByTek reported positive results from its collaboration with Lancôme, a L'Oréal SA group company.

In New York--on European night--the Dow advanced 0.6 percent, the Nasdaq picked up 0.9 percent, and the S&P 500 marked a plus 0.7 percent.

Among currencies, the euro changed hands at USD1.0597 against USD1.0590 recorded in Tuesday's European stock close while the pound was worth USD1.2160 from USD1.2166 last night.

Among commodities, Brent crude is worth USD87.49 per barrel from USD88.05 per barrel at yesterday's close. Gold, meanwhile, trades at USD1,974.64 an ounce from USD1,967.77 an ounce last night.

On Wednesday's macroeconomic calendar, the Ifo index on business confidence in Germany is due at 1000 CEST. At 1000 CEST it is the turn of the Eurozone M3 money supply, while at 1110 CEST an auction of Italian 10-year BTPs.

At 1300 CEST, from the US comes the weekly mortgage report, while at 1400 CEST it is the turn of building permits. At 1630 CEST the EIA report and Cushing inventory is released, while at 1900 CEST an auction of 5-year Treasury bonds is scheduled.

A speech by Federal Reserve Number One Powell is scheduled at 2235 CEST.

Among the companies listed on the Milan Stock Exchange, the publication of the reuslts of Compagnia dei Caraibi, Saipem, and STMicroelectronics are noted.

By Maurizio Carta, Alliance News reporter

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