(Alliance News) - On Wednesday, major European stock markets confirmed expectations and opened trading in positive territory.

Thus, the FTSE Mib is up 0.1 percent to 28,728.37, Mid-Cap gains 0.2 percent to 42,368.50, Small-Cap is in the green 0.3 percent to 26,745.69, while Italy Growth rises 0.1 percent to 9,086.70.

In Europe, Paris' CAC 40 is up 0.5 percent, London's FTSE 100 is in the green by 1.3 percent, while Frankfurt's DAX is up 0.4 percent.

On the main index in Piazza Affari, utilities are off to a good start, with A2A taking the lead, picking up 2.1 percent. Also in the black are Snam, up 1.4 percent, Italgas, in the green by 0.9 percent, and Terna, up 1.1 percent.

Notably, the latter launched a EUR650 million green bond issue. The bond is part of the soceity's EUR9.00 billion Euro Medium Term Notes program, rated 'BBB+' by S&P and '(P)Baa2' by Moody's. It has a term of 10 years, maturing in July 2033, with a coupon of 3.875% and an issue price of 99.1%, with a spread of 90 basis points over midswap. Terna expects the net proceeds of the issue to be used to finance the company's "eligible green projects," identified or to be identified based on Terna's green bond framework.

Amplifon rises 0.2 percent. The Milan-based company on Tuesday reported that the European Investment Bank has granted a EUR300 million loan to further accelerate the innovation and digitalization path of the world's leading hearing services and solutions company.

ERG also does well, in the green by 0.8 percent, after announcing Tuesday that it has finalized the renewal of its medium-term nonconvertible bond issue program - Euro Medium Term Notes Program - with a total maximum amount of EUR3 billion, of which EUR1.6 billion has already been issued.

On the other side of the list is Moncler, down 1.3 percent. "Spooking European luxury is the signals coming from the health of the Chinese economy, despite the fact that the sector is by definition countercyclical. In the second quarter of the year, Beijing's Gross Domestic Product grew by 6.3 percent against the plus 7.1 percent expected, and in June retail sales rose only 3.1 percent year-on-year against the plus 12.7 percent recorded in May," writes Alliance News columnist Francesco Bonazzi.

"The second signal that is hurting stocks in the sector comes from the US. Yesterday, the Swiss giant paid for the announcement of sales down 4 percent in the U.S. market for the quarter. With a weak economy, selling jewelry to the middle classes is more difficult, and the ongoing tightening of monetary policy is doing the rest. Precisely a contraction in U.S. credit is what the fashion biggies seem to fear."

On the Mid-Cap, the fashion sector is suffering little, however. Safilo Group - up 1.6 percent - and Juicy Couture, a global fashion brand with an iconic lifestyle, on Tuesday announced the renewal, through Dec. 31, 2027, of their global licensing agreement for the design, manufacture, and distribution of Juicy Couture-branded women's eyewear and sunglasses and girls' eyewear.

Also doing well is Salvatore Ferragamo, up 1.0 percent, Brunello Cucinelli up 0.3 percent, while Tod's is not yet affected by trading.

Salcef Group - in the green by 2.7% - reported Wednesday that subsidiaries won contracts totaling EUR150 million from RFI in Lombardy and Veneto and from EAV Srl in Campania.

Sesa - in the green by 1.9% - reported Tuesday that it had reported revenues of EUR2.90 billion as of April 30 from EUR2.38 billion in the same period a year earlier and up 21%.

Down goes Eurogroup Laminations, in the red by 0.8%. Of note, JPMorgan Asset Management initiated a short position on the stock at 0.5% earlier this week.

On the Small-Cap, Esprinet rises 0.6 percent, after announcing Wednesday that it has entered into - on July 18 - a binding agreement to purchase 100 percent of the capital of Sifar Group Srl, a company under Italian law active since 2012 in the B2B distribution of spare parts, components and accessories for mobile phone and tablet products.

The acquisition will take place at an estimated consideration of EUR16.0 million and subject to adjustment mechanisms.

Il Sole 24 Ore -- up 2.7 percent -- announced Monday that it had appointed Elisabetta Floccari as the company's new chief financial officer, effective immediately.

Sabaf is not yet affected by trading, but the group, through its subsidiary Sabaf America, signed a contract on Friday to purchase 51 percent of Mansfield Engineered Components, a U.S. company based in Mansfield, Ohio, and the leading North American manufacturer of hinges for household appliances, designed and manufactured to meet the high quality levels and demanding standards required by the U.S. market.

Among the SMEs listed on the Milan Stock Exchange, Unidata does not yet trade, but reported that Stefano Ciurli, the company's nonexecutive director and chairman of the Nominating and Related Party Transactions Committees, has resigned effective immediately following his recent appointment as Head of Global Services for the Enel Group, up 0.1 percent on the Mib.

Arterra is not yet trading. Of note, the company reported Monday that it closed the first half of the year with revenues of EUR1.6 million, down 25 percent from EUR2.1 million in the same period last year.

Pattern rises 2.1 percent, after announcing Tuesday that Idee Partners Srl, a company currently its subsidiary, has signed a framework agreement with Paolo Benedetti to acquire from him an additional 30 percent of the share capital of RGB Srl, a Tuscan company specializing in the production and processing of leather accessories, to hold 100 percent of the latter's share capital at the closing of the deal.

In Asia, the Nikkei closed in the green 1.2 percent to 32,896.03, the Hang Seng is giving up 0.4 percent to 18,949.40, while the Shanghai Composite finished in fractional green at 3,198.84.

In New York on Tuesday, the Dow Jones closed in the green 1.1 percent to 34,951.93, the S&P picked up 0.7 percent to 4,554.98, while the Nasdaq was up 0.8 percent to 14,353.64.

Among currencies, the euro changed hands at USD1.1232 against USD1.1225 on Tuesday in closing European equities while the pound was worth USD1.2965 from USD1.3064 on Tuesday evening.

Among commodities, in a bearish trend, Brent crude is worth USD79.56 per barrel versus USD79.28 per barrel at Tuesday's close. Gold, on the other hand, trades at USD1,982.85 an ounce from USD1,980.81 an ounce Tuesday evening.

On Wednesday's macroeconomic calendar, at 1100 CEST it is the turn of the consumer price index from the Eurozone

At 1300 CEST, from the US, the mortgage market report is released, while at 1430 CEST it will be the turn of building permits. At 1630 CEST, the EIA data on refineries and the Cushing inventory is released. At 1900 CEST, a 20-year Treasury bond auction is scheduled instead.

Among Italian companies, Energy and Talea Group results are expected.

By Claudia Cavaliere, Alliance News reporter

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