(Alliance News) - On Wednesday, major European stock markets tacked down in mid-session as Eurostat reported that the Eurozone's annual inflation rate stood at 2.2 percent in August, down from 2.6 percent in July, while a year earlier the rate was 5.2 percent.
In July compared with June, seasonally adjusted output in the construction sector also remained stable in the Eurozone, while it increased by 0.2 percent in the EU, according to Eurostat's first estimates released Wednesday.
In June, output in the construction sector grew by 0.6 percent in the eurozone and 0.3 percent in the EU.
Thus, the FTSE Mib is fractionally in the red at 33,773.81, the Mid-Cap is below par at 46,040.51, the Small-Cap is 0.3% in the red at 28,389.71, while Italy Growth picks up 0.1% to 8,016.17.
Paris' CAC 40 gives up 0.3%, Frankfurt's DAX 40 is in the fractional red while London's FTSE 100 gives up 0.6%.
On the Mib, Campari gives up 5.3 percent and remains at the bottom. The company announced Wednesday the resignation of Matteo Fantacchiotti as chief executive officer and board member, effective immediately, for personal reasons.
On Tuesday, however, it had finalized the acquisition from ODC of a 14.6 percent minority stake in Capevin Holdings Proprietary, a South African holding company that indirectly owns 100 percent of CVH Spirits, a Scottish company active in the production and marketing of the well-known single malt whiskey brands Bunnahabhain, Deanston, Tobermory, and Ledaig, and blended whiskey brands Scottish Leader and Black Bottle.
Also hurting were Moncler and DiaSorin, down 1.9 percent by 1.6 percent.
On the other side of the list, Banco BPM does best of all with a gain of 2.9%, followed by BPER Banca with 2.1% and Leonardo, up 1.7%.
Generali rises 0.1%. The company on Tuesday disclosed that it has reached an agreement to sell 99.99% of its stake in Generali Sigorta to Kiler Holding for 42% of the stake, Ekol Giri?im Sermayesi Yat?r?m Ortakl??? for 9%, Arex Yat?r?m Holding for 48%, and Arex Sigorta for 1.0%.
Generali said the deal is in line with its strategic plan and should be finalized by the first half of 2025.
FinecoBank, down 0.3 percent, announced Tuesday that it has appointed Eick Vecchi as its new chief accounting officer.
Vecchi will replace Lorena Pelliciari, who remains the bank's chief financial officer.
On the cadet segment, Maire Tecnimont--down 0.6 percent--reported Wednesday that Nexchem, through its nitrogen technology licensor subsidiary Stamicarbon, has been awarded the licensing and Process Design Package for the efficiency and expansion of El Delta Company for Fertilizer and Chemical Industries' urea plant in Talkha, Egypt.
Anima Holding -- in the green by 0.5 percent -- concluded the buyback plan it began on May 22, during which it bought back a total of 8.3 million of its own shares, or 2.6 percent of its share capital, for EUR40.0 million or so.
Brembo takes the top spot with a 2.5 percent rise while SOL follows gaining 2.4 percent.
On the other side of the list, Reply gives up 2.6 percent while MFE's A shares fall 0.7 percent and B shares rise 0.7 percent on the day of the semiannual report.
Among smallcaps, doValue gives up 0.4 percent. On Tuesday, it announced that on Sept. 23, the company's 80 million existing ordinary shares will be regrouped into 16 million newly issued ordinary shares having the same characteristics as the issued ordinary shares at a ratio of 1 new ordinary share for every 5 existing ordinary shares.
September 20 will be the last trading day for the stock prior to the regrouping.
As a result of the regrouping, the nominal share capital will remain unchanged and thus amount to EUR41.3 million.
Monrif finishes on the podium along with PLC, with rises of 5.1 percent and 3.4 percent respectively.
Fidia, in the red by 5.2 percent, and CY4Gate, which gives up 3.6 percent, are hurting.
Among SMEs, Websolute advances with 5.7 percent. The company reported Wednesday that it closed the first half of the year with a profit of EUR400,000 from a loss of EUR100,000 in the same period a year earlier.
Neurosoft--not yet trading after closing down 2.4 percent--reported that it closed the first half with revenues up to EUR16.2 million from EUR11.8 million in the same period a year earlier.
Gross profit rose to EUR3.2 million from EUR2.7 million while Ebitda fell to EUR1.2 million from EUR1.3 million.
Finance.tech gives up 1.0 percent after reporting Tuesday that it ended the first half with a profit of EUR100,000 down from EUR800,000 in the same period of 2023.
Revenues fall 27 percent to EUR5.5 million from EUR7.5 million in the first half of the year before.
SolidWorld Group gives up 1.7 percent. On Wednesday it announced the delivery at its Technology & Design "digital factory," based in Ponzano Veneto in the province of Treviso, of its new EOS P770 3D printer, equipped with SLS Selective Laser Sintering technology.
In New York on European night, the Dow closed fractionally in the red at 41,606.18, the Nasdaq rose 0.2 percent to 17,628.06, and the S&P 500 closed on parity at 5,5634.58.
Among currencies, the euro changed hands at USD1.1135 against USD1.1120 in Tuesday's European equities close while the pound was worth USD1.3217 from USD1.3185 Tuesday evening.
Among commodities, Brent crude trades at USD72.64 per barrel versus USD73.44 per barrel at Tuesday's European stock close. Gold, on the other hand, trades at USD2,569.09 an ounce from USD2,591.25 an ounce Tuesday evening.
Wednesday's economic calendar features mortgage data in the US at 1300 CEST. In the afternoon, at 1430 CEST, data on new construction sites and building permits are released.
By Chiara Bruschi, Alliance News reporter
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