(Alliance News) - Wednesday, the Mib veers lower in mid-session as London continues to grind out gains after the release of inflation data that slowed to 3.9 percent in November, more than the 4.4 percent forecast by FxStreet.

Also in the morning, Eurostat reported that Eurozone construction sector output fell on both a monthly and annual basis in October.

Eurozone construction output fell 1.0 percent on a monthly basis in October after rising 0.9 percent in September.

On a yearly basis, October's 0.7 percent decline followed the 0.7 percent increase in the previous month.

As a result, the FTSE Mib is in the red 0.4 percent to 30,233.50, the Mid-Cap gives up 0.3 percent to 44,039.24, the Small-Cap advances 0.4 percent to 27,362.14, and Italy Growth is in the fractional red at 8,109.59.

In Europe, London's FTSE 100 is in the green by 0.7 percent, Paris' CAC 40 is in fractional green and Frankfurt's DAX 40 just below par.

On the Mib, Banca Monte dei Paschi di Siena -- down 1.3 percent -- announced Wednesday that it has strengthened its leadership in the agrifood sector with a new digital collection and payment solutions offering developed together with Nexi -- down 0.1 percent -- for wine and agritourism companies.

This initiative is part of Banca MPS's broader strategy to support the agrifood, agricultural-recreational and dop economy sectors, confirming its historical focus on the needs of the primary sector, a key asset of the country's economy.

Iveco Group among is few bullish, and advanced 0.4 percent after announcing that Iveco Bus, the group's city, intercity and tourist bus brand, will supply 153 new electric buses to Azienda Trasporti Milanesi Spa, which operates public transport in Milan and its hinterland.

The contract, worth more than EUR120 million, is part of ATM's strategic plan to offer increasingly sustainable and accessible mobility.

Telecom Italia, up 4.8 percent, and Inwit, which advanced 0.9 percent, were at the top. Oil is also doing well, with Eni up 0.7 percent and Saipem up 0.5 percent. Tenaris, on the other hand, gives up 0.1%.

Stellantis gives up 0.6% after ACEA's November data showed, for the group, a 7.3% drop in sales in Europe compared to November 2022. In the European market, however, registrations were up 6.7 percent compared to November 2022.

On the Mid-Cap, Seco does best of all and rises 3.9 percent. Worth mentioning that Goldman Sachs cut its target price to EUR4.40 from EUR7.10 with a 'buy' recommendation.

Maire Tecnimont also did well, up 2.1 percent. The company reported Wednesday that Conser, licensor of biodegradable plastics technologies and a subsidiary of Nextchem, a Maire Group company, has been awarded by a major client the licensing of the technology and the supply of the catalyst as part of a larger project located in northwestern China.

Credito Emiliano--flat at EUR7.93--reported Tuesday that Credito Emiliano Holding Spa purchased 740,000 ordinary shares in the bank.

The shares were taken over at an average unit price of EUR8.1832, for a total consideration of EUR6.1 million.

Industrie De Nora - in the red by 6.7 percent after finishing up 5.2 percent - ends up at the bottom. The company, with H2U Technologies, a developer of next-generation electrolyzers, announced on Monday a research agreement to identify and develop low-cost, high-performance electro-catalysts for the production of hydrogen via water electrolysis.

Sesa advances 0.3 percent. The company announced Tuesday that it had approved results for the six-month period ended Oct. 30 with a net profit of EUR41.6 million from EUR41.1 million in the same period a year earlier. Adjusted net income attributable to the group was EUR50.1 million from EUR45.9 million as of Oct. 30, 2022, up 9.1 percent year-on-year. Revenue and other income grows by 15 percent to EUR1.50 billion from EUR1.31 billion in the same period 2022.

On the Small-Cap, Openjobmetis ends up at the bottom. It gives up 5.9% and is suspended. The company announced Tuesday that it has signed a preliminary agreement to acquire 100 percent of the capital of Just On Business Spa and 100 percent of the capital of its subsidiary Deine Group Srl.

The agreed consideration is EUR29.7 million to be paid in cash. A three-year non-compete agreement with the founding partners is also to be signed for a total of EUR2.2 million.

Gefran advances 0.1 percent. The company announced Wednesday that it has signed an investment agreement to acquire a minority stake in Robot at Work Srl, a Rovato-based startup.

The transaction was finalized through the sale of part of the share capital belonging to the majority shareholders and subsequent capital increase, as a result of which Gefran holds a 24.83 percent stake in Robot at Work for a total consideration of EUR576,000. The consideration was paid in cash through the use of equity.

Greenthesis is in the green by 1.6 percent. On Monday it announced that it had finalized a new EUR50 million financing agreement with banks Natixis SA, Milan branch, and Intesa Sanpaolo Spa, the former as agent bank and both as lending banks and Mandated Lead Arrangers & Bookrunners. This transaction, reads the company's statement, is aimed "at broadening the financial base in order to be able to support organic investments and acquisitions by external lines."

TXT e-solutions -- up 0.7 percent -- on Monday disclosed that it sold 176,471 of its own shares to the "PIPE" fund -- private investment in public equity -- managed by Alkemia SGR Spa, at a price of EUR17.00 per share, higher than their average carrying value and compared to the average market value of the last 3 months of EUR16.23.

At the top are Tessellis and Beewize, which rise 7.9 percent and 5.8 percent.

Among SMEs, SG Company Società Benefit is up 5.2% after announcing Wednesday that its wholly owned subsidiary NET-SG Srl has signed a commercial and consulting agreement with Lorenzo De Rosa, sole director and legal representative of Antimateria Srl, which will start on January 1, 2024.

Prisms advances 1.0%. The company announced Tuesday that Paolo Romiti has resigned as a member of the company's board of directors.

Romiti is leaving the board effective immediately.

Cofle rises 3.1%. Cofle announced Tuesday that it is continuing its collaboration with Ineos Automotive, which has led to the creation and customization of advanced reduced gear engagement and disengagement and differential lock and unlock systems, directly developed by Cofle's engineering center, for its new 4x4 off-road vehicle, the INEOS Grenadier. Cofle expects that in 2023, sales related to the order with Ineos will close at EUR1.6 million, while projections for 2024 indicate a significant increase to EUR3.8 million.

In New York on European night, the Dow closed up 0.7 percent as did the Nasdaq while the S&P 500 finished in the green by 0.6 percent.

Among currencies, the euro changed hands at USD1.0951 against USD1.0978 recorded in Tuesday's European stock close while the pound was worth USD1.2654 from USD1.2755 Tuesday night.

Brent crude is worth USD80.20 per barrel versus USD79.35 per barrel at Tuesday's close. Gold, meanwhile, trades at USD2,036.72 an ounce from USD2,025.59 an ounce on Tuesday evening.

Wednesday's macroeconomic calendar includes, at 1300 CET, from the US the mortgage market report, followed at 1430 CET by the current account balance for the third quarter.

At 1630 CET, again from the US, crude oil stocks, the EIA report and the Cushing inventory. At 1900 CET, on the other hand, a 20-year bond auction is scheduled.

Finally, a 20-year Treasury bond auction is scheduled at 1900 CET.

No particular announcements are expected among the companies.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.