(Alliance News) - On Wednesday, major Eurozone stock markets close the session in positive territory, with Piazza Affari returning above 34,000. In contrast, the London Stock Exchange retreats.

"Investors await news from the French government in the afternoon, meanwhile watching the year's best-performing stocks reach new highs," says Chris Beauchamp, chief market analyst at IG.

Despite the CAC40's slight rise, the gap with the DAX40, which has gained more than 20 percent this year, is stark, and according to Beauchamp, the French market's woes reflect more political and luxury sector weakness than strength in the still struggling German economy.

Thus, the FTSE Mib closes up 0.8 percent to 34,083.91, Mid-Cap rises 0.8 percent to 47,490.98, Small-Cap advances 1.7 percent to 27,827.41, and Italy Growth ends up 0.1 percent to 7,723.95.

In Europe, London's FTSE 100 closes in the red by 0.3 percent, Paris' CAC 40 ends with a gain of 0.6 percent, and Frankfurt's DAX 40 finishes ahead by 1.0 percent.

In macroeconomic news, preliminary data released Wednesday by S&P Global, the U.S. Composite PMI index rose to 54.9 in November from 54.1 in October, marking the highest level in 31 months.

Also from the U.S., overall manufacturing posted a solid monthly increase, buoyed mainly by the services sector, whose PMI rose to 56.1, the highest level since March 2022, while manufacturing output remained in contraction with a PMI at 49.7.

According to the U.S. Census Bureau, new orders for manufacturing goods in the U.S. rose 0.2 percent month-on-month in October to USD586.70 billion, in line with market expectations, after two consecutive months of decline.

Back in Milan, on the Mib, Campari does best of all, closing ahead 4.3 percent. The company announced before the open that it has chosen Simon Hunt as Chief Executive Officer of Campari Group.

Hunt will take over from current interim co-CEOs Paolo Marchesini, Chief Financial and Operating Officer, and Fabio Di Fede, Chief Legal and M&A Officer.

BPER Banca--up 0.4 percent--reported Wednesday that it has received prudential requirements from the European Central Bank to be met as of Jan. 1, 2025.

The ECB ruled that BPER will have to maintain on a consolidated basis a minimum capital ratio in terms of Common Equity Tier 1 ratio of 8.93 percent - consisting of the sum of the minimum regulatory Pillar 1 requirement of 4.5 percent, the additional Pillar 2 requirement of 1.27 percent and the Combined Buffer Requirement of 3.16 percent -, while the minimum Total Equity requirement will have to be 13.41 percent.

Eni - in the green by 0.1% - on Tuesday reported that Enilive, a company dedicated to mobility products and services, announced a new agreement with easyJet airline to supply some flights departing from Milan Malpensa airport with sustainable aviation fuel - Sustainable Aviation Fuel.

Assicurazioni Generali -- in the green by 0.4 percent -- announced Wednesday that it has reached an agreement to sell 100 percent of its stake in Generali Life Assurance Philippines, Inc. to The Insular Life Assurance Company, Ltd.

The sale will have a negligible impact on Generali's Solvency II Ratio and will generate a capital loss of approximately EUR20 million, net of taxes and minority interests, with no impact on normalized net income.

UniCredit - up 0.2 percent - announced Wednesday a partnership with Blackstone to distribute the Blackstone Private Equity Strategies Fund to its wealth clients in Italy starting Dec. 3.

Snam closes in the green by 0.4 percent. The company and VTTI on Tuesday said they had completed the acquisition of shares in Terminale LNG Adriatico Srl, the company that owns Italy's largest liquefied natural gas regasification terminal located in the waters off Porto Tolle, Rovigo.

Also going down are Nexi, Terna and Erg, down between 0.3 percent and 0.8 percent.

On the Mid-Cap, Digital Value closes up 13 percent, bringing its green for the past month to 86 percent. It is reported that Citadel Advisors raised its short position on the stock to 0.71% from 0.61%.

In light of the industry slowdown and new market estimates, simulations related to the impairment test for the 2024 financial statements were analyzed.

These simulations suggest possible write-downs of some assets, estimating a total impact between EUR70 and EUR90 million.

LU-VE--up 1.5 percent--reported Tuesday that it has inaugurated the doubling of its LU-VE Tianmen plant in China's Hubei province. The production facility has expanded from 19,000 square meters to over 43,000 square meters with 6,640 square meters dedicated to finished goods storage.

On the Small-Cap, doValue closes in the green with a 23 percent flight.

Eurotech rises 1.6 percent after it announced Wednesday that it has received the resignation effective immediately and for personal reasons of non-executive and non-independent director Alberta Gervasio.

KME Group--in the red by 1.4 percent--reported that its subsidiary KME has received approval from the German antitrust authority to acquire 100 percent of the shares of Blackhawk Holding, a German holding company that owns 100 percent of Sundwiger Messingwerk GmbH.

Closing of the transaction, which now goes through the Austrian antitrust authority, is expected in the first quarter of 2025.

Mondo Tv - in the green by 1.5 percent - reported it is in the process of signing a new agreement with German company PLAION PICTURES GmbH one of Europe's leading distributors.

Borsa Italiana reported that Bioera's stock is suspended from trading.

Among SMEs, FAE Technology -- down 2.0 percent -- on Tuesday approved a EUR2.0 million capital increase to complete the acquisition of IpTronix Srl, scheduled to be completed by Dec. 31.

The transaction, approved by the board of directors, involves the issuance of 478,468 ordinary shares at a unit price of EUR4.18, a 39% premium to market value.

Promotica gives up 2.6 percent. The company on Tuesday reported that it launched five loyalty campaigns in November for major national and international retail players such as Coop, Carrefour and the DESA group, worth a total of more than EUR24 million.

Reway Group -- in the green by 0.6 percent -- on Wednesday reported that the closing of the acquisition of a 60 percent stake in Vega Engineering S.r.l., a multidisciplinary engineering company, for an entreprise value of EUR3.6 million was completed.

In New York, the Dow is in the green by 0.6 percent, the Nasdaq rises 0.9 percent, and the S&P 500 advances 0.4 percent.

Among currencies, the euro changes hands at USD1.0529 from USD1.0507 in Tuesday's European stock close. The pound is worth USD1.2703 versus USD1.2654 on Tuesday evening.

Among commodities, Brent crude is worth USD73.31 a barrel from USD73.60 at last night's close. Gold trades at USD2,679.04 an ounce from USD2,665.44 an ounce Tuesday evening.

Thursday's macroeconomic calendar opens at 0800 CET from Germany with the factory orders data; at 0930 CET it is the turn of the construction PMI for Italy and the Eurozone.

At 1100 CET, there is anticipation for the OPEC+ summit, and at the same time the Eurozone retail sales report is due.

In the afternoon, from the U.S., at 1430 CET, continuing unemployment claims will be released, and at the same time, the trade balance figure will be released.

It closes, also from the US, at 2230 CET with the Fed's balance sheet.

No particular announcements are expected among companies listed in Piazza Affari.

By Antonio Di Giorgio, Alliance News reporter

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