(Alliance News) - Major European stock exchanges on Thursday traded in negative territory, as did the U.S. at the start of trading, as U.S. GDP increased expectations of further tightening by the Fed.

"Bears are back in charge today, as U.K. GDP data provided yet another warning that we may already be in recession. Notably, U.S. indices fell despite an upward revision to the third quarter growth rate. This likely reflects the growing concern that the Federal Reserve will continue to push up rates in the absence of a major signal of economic distress," explained Joshua Mahony, senior market analyst at IG Platform.

"Today we saw two clear warning signs about the intention to further escalate the military conflict in Ukraine, with Putin planning to expand his military personnel to 1.5 million, while the U.S. pledged to provide an additional USD1.85 billion in military aid. The EU's recent decision to cap gas import prices is a sign of weakness that could backfire: the protracted Russian-Ukrainian conflict could drive up prices and stifle efforts to replenish the EU's gas supplies for next winter."

The FTSE Mib closed down 1.2 percent to 23,813.30, the Mid-Cap lost 0.4 percent to 39,364.54, the Small-Cap gave up 0.4 percent to 27,592.47, and Italy Growth finished negative 0.6 percent to 9,176.28.

London's FTSE 100 closed down 0.4 percent, Paris' CAC 40 fell 1.1 percent and Frankfurt's DAX 40 left 1.4 percent on the parterre.

On the Mib, only Saipem and Buzzi Unicem were saved, which were in the green by 0.7 percent and 0.1 percent, respectively.

Eni is in the red by 0.6 percent after informing that it has signed a contract with Wison Heavy Industry for the construction and installation of a floating liquefied natural gas production unit with a capacity of 2.4 million tons per year. The FLNG will be positioned offshore the Republic of Congo.

Italgas is in negative territory, down 0.5 percent, after announcing that, consistent with its 2022-2028 strategic plan, it has finalized a transaction to sell a 10 percent stake in Italgas Newco.

Italgas Newco is the group holding company that controls Depa Infrastructure, a company active in gas distribution in Greece, and buying is Phaeton SA, a holding company of the Greek industrial group Copelouzos.

Azimut Holding falls 0.9 percent after signing a strategic partnership, through its Turkish subsidiary Azimut Portföy Yönetimi, with Lycian Capital Partners, a private equity firm focused on the mid-market based in Istanbul.

On the mid-cap, Maire Tecnimont rallies 1.1 percent after announcing Thursday that its subsidiaries Tecnimont, KT-Kinetics Technology and Stamicarbon have been awarded several new contracts for licensing, engineering services and engineering and procurement activities as well as engineering, procurement and construction, with a total value of about USD280 million.

Yesterday, it also announced that its subsidiary Tecnimont was awarded an EPC contract with a total value of about USD1.3 billion and covers the construction of a petrochemical plant and associated utilities and infrastructure.

Webuild drops 1.8 percent after reaching an agreement with Clough Limited administrators to extend the current exclusivity period until Jan. 25, 2023, "given the significant progress on the current transaction."

It also announced yesterday that it had reached financial closure for the contract to build the Sydney Metro - Western Sydney Airport Metro Line project, the metro line that will connect the new Western Sydney International Airport with Sydney, as part of the Parklife Metro consortium.

Webuild's share is approximately AUD3.83 billion, about EUR2.4 billion.

Salcef Group rises 0.4 percent. The company mandated Banca Akros to coordinate and/or execute the share buyback program, the initiation of which had already been approved by the board of directors on November 14, 2022.

Specifically, the program provides for the purchase of a maximum of 300,000 shares with a countervalue not exceeding EUR7.7 million. Furthermore, the shares held by the company and its subsidiaries at any time must not exceed a total of 10 percent of the share capital.

De' Longhi closes unchanged, on the day it announced that the board approved the appointment of Nicola Serafin as general manager, reporting directly to CEO Fabio de' Longhi, thus completing the search process for a candidate for the role of CEO.

In the new position, which will take effect on January 1, 2023, Nicola Serafin will have the powers of ordinary administration for the management of the Group.

Among small-cap companies, LVenture Group closed in the green by 10 percent after signing with WDA - Web Digital Advisor, Venture Builder, a partnership to launch joint innovation programs aimed at large companies that may also include LVenture Group's entry into WDA's capital.

Banca Finnat also reduced LVenture Group's trarget price but confirmed its 'buy' recommendation on the venture capital holding company's stock.

The target price was reduced to EUR0.43 from EUR0.50, according to research by Gian Franco Traverso Guicciardi, Tatjana Eifrig and Stefania Vergati.

FNM gave up 1.1 percent. The company announced that its subsidiary FerrovieNord and Regione Lombardia, FNM's controlling shareholder, have signed on Wednesday the contractual text relating to the renewal of the service contract, due to expire on Dec. 31, 2022, for the period Jan. 1, 2023 to Dec. 31, 2027.

Somec gains 0.9 percent. The company disclosed Tuesday that it has signed a binding preliminary agreement to acquire 60 percent of the share capital of Gino Ceolin, a company specializing in the creation of custom-made metalwork for exteriors and interiors aimed particularly at the retail, hospitality and high-end residential sectors.

On the alternative capital market of Piazza Affari, Circle rises 0.8 percent after announcing to the market the acquisition of 51 percent of the share capital of Cargo Start, a start-up company active in the development and sale of technological products and services for operators in the air cargo supply chain.

The agreement signed on Dec. 21, 2022, stipulates that, subject to the fulfillment of certain conditions precedent, Circle will complete an investment transaction in Cargo Start for a total amount of EUR500,000 through the subscription of a paid capital increase, reserved for it, for a nominal EUR20,850 and with a premium of EUR479,150.

In New York, the Dow is down 1.2 percent, the Nasdaq gives up 2.5 percent and the S&P 500 loses 1.7 percent.

Among currencies, the euro changes hands at USD1.0599 versus USD1.0610 at Wednesday's close. In contrast, the pound is worth USD1.2019 from USD1.2104 on Wednesday evening.

Among commodities, Brent crude is worth USD81.40 per barrel from USD81.70 per barrel on Wednesday evening. Gold, meanwhile, trades at USD1,804.05 an ounce from USD1,816.65 an ounce on Wednesday evening.

Friday's macro calendar opens at 0030 CET in Japan with data on the November non-seasonally adjusted consumer price index.

In Europe, at 0845 CET it is the turn of the French producer price index also for November. Fifteen minutes later, at 0900 CET, it's "go" time in Spain with annual and quarterly GDP data.

At 1000 CET, in Italy, Italy's business and consumer confidence levels for December will be released.

In the afternoon, overseas, at 1430 CET, the PCE index-the Fed's main indicator for measuring inflation-, personal income data and durable goods orders are expected.

At the same time, Canada will release GDP data.

Among companies listed on the Stock Exchange, no particular events are expected.

By Claudia Cavaliere, Alliance News reporter

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