(Alliance News) - Piazza Affari also closed down on Wednesday's session, in the midst of a week full of results for smaller stocks and before the macro calendar shows relevant data for the Eurozone and the US.

Chris Beauchamp, chief market analyst at IG, said, "U.S. Congressmen appear to be on track to avert a government shutdown but robust U.S. durable goods orders have spooked investors. The good data is largely 'bad news' for stocks right now as it means there is no pressure on the Fededarl Reserve or other central banks to think about easing policy."

"The current September decline was caused by the realization that high rates will be a feature until 2024 in the absence of a recession, which, for now, refuses to appear on the horizon."

The FTSE Mib closed down 0.3 percent to 28,012.30, the Mid-Cap rose 0.1 percent to 38,992.51, the Small-Cap gave up 0.3 percent to 25,529.95, and Italy Growth lost 0.5 percent to 8,319.36.

In Europe, London's FTSE 100 closed down 0.4 percent, Paris' CAC 40 finished around parity and Frankfurt's DAX 40 gave up 0.3 percent.

On the main list in Piazza Affari, DiaSorin closed just below par, closing down for the third session in a row.

Good buying on Ferrari, up 0.6%, which climbs back up after four bearish sessions.

Nexi, on the other hand, rises 1.1 percent to EUR5.7780 per share after once again hitting record lows this week.

Drop and tail of the list for Banca Monte dei Paschi, which gives up 6.6 percent. The Siena-based bank, according to market rumors, would see the Treasury at work to divest an 8% stake, all within the first decade of October.

On the Mid-Cap, El.En. rises 4.3 percent. It should be noted that the stock, since the beginning of 2023, marks a decline of more than 40%. The company announced Tuesday that it has kicked off its new EUR1.0 million buyback program of its own ordinary shares.

Good buying also on Reply, which gains 4.6 percent after four bearish sessions, even on a weekly basis still shows a 2.2 percent loss.

Danieli & C. - up 2.0 percent - reported Tuesday that it closed the 2022-2023 fiscal year with revenues up year-on-year to EUR4.10 billion from EUR3.62 billion in the previous year. The stock fluctuated upward by 1.8 percent. The board proposed the distribution of a dividend of EUR0.31 for ordinary shares -- worth a total of EUR11.6 million -- and EUR0.3307 for savings shares, worth EUR12.1 million. Last year, the company distirbuted a dividend of EUR0.2793 for savings shares and one of EUR0.30 for ordinary shares.

Salvatore Ferragamo, on the other hand, drops 2.1 percent. On the stock it is mentioned that Barclays cut its target price to EUR13.00 from EUR14.00.

Sales also prevail, among many, on Fincantieri, which gives up 2.0%. The company signed a EUR800 million medium-long term loan on Monday, with a term of five years including three years of pre-amortization, 70% backed by a SACE guarantee.

On the Small-Cap, algoWatt advances 0.5 percent, on the heels of the double-digit rise of 11 percent in the previous session.

d'Amico, on the other hand, appreciates 7.0%, after a 2.2% gain on the eve of trading.

At the tail end, Aeffe gives up 8.1%.

Among SMEs, FAE Technology, up 2.7% on the eve of the release of its semi-annual accounts, is doing well.

Relatech--up 5.6 percent--reported Wednesday that its board of directors reviewed and approved consolidated economic and financial data as of June 30 reporting adjusted net income of EUR3.8 million, up 120 percent from EUR1.7 million for the same period in 2022. Net income amounted to EUR2.9 million from EUR2.1 million recorded as of June 30, 2022.

Value of production as of June 30 was about EUR51.1 million, up 73% from about EUR29.5 million as of June 30, 2022. Revenues amounted to EUR47.8 million, up from EUR25.3 million as of June 30, 2022.

Edil San Felice made its debut on the Italian Stock Exchange on Wednesday, after raising EUR10.8 million, giving up 2.0%.

If the over-allotment option is exercised, the raise would increase to EUR11.8 million. The free float is 22.1 percent and the market capitalization at IPO is EUR48.7 million.

Edil San Felice is a company specializing in civil and industrial construction. It is an integrated operator of solutions for ordinary and extraordinary development and maintenance in the area of highway and airport infrastructure, engaged in the construction and maintenance of roads, highways, bridges, viaducts and airports. Over the years, the company has also specialized in environmental services, such as collection transportation of special hazardous waste and remediation work.

In New York, the Dow is down 0.2 percent to 33,557.89, the Nasdaq is up 0.2 percent to 13,092.74, and the S&P 500 is up 0.2 percent to 4,279.86.

Among currencies, the euro changes hands at USD1.0514 versus USD1.0576 in Tuesday's closing European equities while the pound is worth USD1.2140 from USD1.2163 Tuesday evening.

Among commodities, Brent crude is worth USD94.76 per barrel versus USD93.59 per barrel at Tuesday's close. Gold, meanwhile, trades at USD1,885.51 an ounce from USD1,903.29 an ounce last night.

Thursday's macroeconomic calendar features German inflation at 0730 CEST, Spain's inflation at 0900 CEST, and Italy's producer prices at 1100 CEST. For the Bel Paese, space is also given to confidence data at 1000 CEST.

Focus also on Spanish retail sales, at 0900 CEST, while consumer and business confidence data will also come for the Eurozone, at 1100 CEST, and for the Iberian Nation, at 1300 CEST.

In the afternoon, eyes on U.S. Gross Domestic Product, at 1430 CEST, which will arrive at the same time as jobless claims, core PCE and consumer spending. Housing data will arrive at 1600 CEST while closing out the day will be the Federal Reserve's balance sheet, scheduled for release at 2230 CEST.

Among the nearly 60 companies in the Piazza Affari that will release accounts Thursday, worth mentioning are Agatos, Conafi, Innovatec and TMP Group.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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