(Alliance News) - The Mib closed Wednesday's session on a downward trend around 45,500, following the over 20-year highs reached in the previous session. The upward segment of the index was mainly driven by defensive stocks and the utility sector, buoyed by ongoing sector rotation in a context of a modest decline in oil prices.
The drop in crude oil followed rumors of a possible supply of up to 50 million barrels of Venezuelan oil to the US market, easing pressure on energy prices.
On the macroeconomic front, PMI data showed a further deterioration in the Italian construction sector in December, with the sharpest contraction since last August, confirming persistent weaknesses in domestic growth.
Thus, the FTSE Mib closed down 0.3% at 45,558.68, the Mid-Cap finished up 0.7% at 60,519.49, the Small-Cap rose 0.6% to 37,618.27, while Italy Growth advanced 0.1% to 8,842.92.
London's FTSE 100 fell 0.7%, Paris's CAC 40 ended just below parity, while Frankfurt's DAX 40 advanced 0.9%.
On the Mib, Eni ended the day down 4.7% at EUR15.69, following Tuesday's 0.9% decline.
Tenaris dropped 3.5% after two bullish sessions, closing around EUR16.84 per share.
Italgas showed strength, advancing 5.4% to EUR10.37 per share, topping the index.
Telecom Italia - up 5.8% and the best performer on the index - announced Wednesday that it has reached a preliminary agreement with Fastweb + Vodafone to start cooperation in the development of mobile access networks through a Radio Access Network sharing model, aiming to accelerate the expansion of 5G in Italy. The agreement paves the way for the signing of a definitive contract, expected by the second quarter of 2026.
Enel, meanwhile, advanced 0.8% to EUR9.27 per share. Notably, Goldman has raised its price target on the stock to EUR11.00 from EUR10.00 per share.
Diasorin ended the day down 0.6%. Barclays has cut its target price on the stock to EUR60.00 from the previous EUR105.00.
Saipem closed down 3.5% at EUR2.52 after four consecutive bullish sessions.
On the MidCap, Salvatore Ferragamo closed down 2.7% at EUR8.43, after gaining 6.4% on Tuesday.
LU-VE - at the bottom of the segment - dropped 2.8% to EUR38.85, following Tuesday's 1.1% decline.
Pirelli also fell 1.1%. The Italian government is considering intervention on the Pirelli dossier, possibly up to freezing the voting rights of Chinese shareholder Sinochem, which holds 34%, to protect the business in the USA. The news was first reported by the Financial Times, with no official comment from Sinochem or the company. The US market accounts for about 20% of the group's revenues and 40% of high-value tire sales.
On a positive note, Caltagirone advanced 4.3% to EUR9.76 per share, after a 0.4% loss on Tuesday.
Acea also advanced 2.6% to EUR23.06 per share. During trading, the stock set a new 52-week high at EUR23.26 per share.
On the Small-Cap, Seri Industrial gained 3.8%, turning upward after two consecutive losing sessions.
Fidia rose 2.3% to EUR0.1228 after a flat session on Tuesday.
Trevi Finanziaria Industriale saw solid buying, up 3.9% to EUR0.74, marking its sixth consecutive bullish session.
Enervit also advanced 3.1%, rebounding after Tuesday's 1.0% drop.
Aeffe, lagging behind, fell 5.1% after a 2.1% decline in the previous session.
Among others, selling also prevailed on Landi Renzo, which dropped 3.5%, marking its fifth consecutive bearish session.
Among SMEs, Farmacosmo advanced 3.6% to EUR0.6960, marking its sixth consecutive positive session.
Casta Diva - up 5.7% - acquired the events division of Prodea Group, as reported by Milano Finanza on Wednesday. The deal was carried out through its subsidiary Nautilus 6 and is part of the negotiated crisis resolution procedure for Prodea Group. The transaction was authorized at the end of December by the Turin Court and at the beginning of January by the board of directors of Casta Diva.
Cofle dropped 3.1% to EUR3.09 per share, after a 0.3% gain on Tuesday.
Estrima closed down 6.7% at EUR0.1280, after two consecutive positive sessions.
In New York, the Dow Jones is down 0.2%, the Nasdaq is up 0.6%, while the S&P 500 is marking a 0.2% gain.
On the currency front, the euro is trading at USD1.1686 from USD1.1688 at Tuesday's close in European equities, while the pound is trading at USD1.3471 from USD1.3498 last night.
Among commodities, Brent is trading at USD60.08 per barrel from USD61.63 per barrel at Tuesday's close in European equities, while gold is valued at USD4,467.05 an ounce from USD4,484.32 an ounce last night.
On Thursday's economic calendar, at 0800 CET the UK Halifax house price index is due, followed at 0800 CET by German factory orders. At 1000 CET, the Italian unemployment rate will be released.
At 1100 CET, Eurozone business and consumer confidence data is due, along with the unemployment rate.
From the US, at 1430 CET, jobless claims and the trade balance data are expected.
At 2230 CET, the Federal Reserve's weekly balance sheet will be published.
No major announcements are expected from companies listed on Piazza Affari.
By Maurizio Carta, Alliance News reporter
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