(Alliance News) - On Wednesday, major European stock markets are expected to fall as investors await the release this afternoon of the latest U.S. inflation update, which will be very important in understanding where the Federal Reserve's expectations will head, especially ahead of the November meeting.

Thus, the FTSE Mib is expected to fall 157.5 points or 0.6 percent after closing up 0.2 percent at 28,584.580.

In Europe, London's FTSE 100 is expected to be in the red by 0.4 percent, Paris' CAC 40 is expected to open down 31.3 points or 0.4 percent, and Frankfurt's DAX 40 down 88.6 points or 0.6 percent.

Among Italy's smaller listings, the Mid-Cap down 0.4 percent to 41,198.48, the Small-Cap in the red 1.0 percent to 26,520.93 and Italy Growth down 0.3 percent to 8,752.28.

On the main index in Piazza Affari, Leonardo closed 0.4% in the red. It said Tuesday that defense industry leaders from the United Kingdom, Japan, and Italy have signed a trilateral collaboration agreement to develop the conceptual phase of a next-generation combat aircraft.

The agreement is part of the Global Combat Air Program, a collaboration between the three countries that aims to deliver a next-generation combat aircraft by 2035.

Campari ended at the bottom with a 4.2 percent drop after announcing Tuesday that Bob Kunze-Concewitz, the company's CEO, informed the board of directors of his decision to retire as of the April 11, 2024 shareholder meeting.

Kunze-Concewitz will remain on the board as a nonexecutive memebro.

On the Mid-Cap, Seco took the lead with 3.1 percent on the strength of half-year results that showed a profit of EUR10.0 million up from EUR6.8 million in the same period last year.

Adjusted net income rose to EUR12.6 million from EUR8.6 million, an increase of more than 46 percent.

Brembo did well, closing up 0.6 percent. SGL Carbon and Brembo have agreed to expand the production capacity of the Brembo SGL Carbon Ceramic Brakes joint venture, a statement announced Tuesday.

The two companies, together with BSCCB itself, have defined the project that will lead the JV to invest about EUR150 million until 2027 to expand production activities by more than 70 percent at its sites in Meitingen, Germany, and Stezzano, Italy.

Anima Holding closed up 0.2 percent. On Monday, it reported that it purchased 480,671 of its own shares between Sept. 4 and Sept. 8.

The shares were taken over at an average price of EUR3.7873 for a total consideration of EUR1.8 million.

Cembre's board of directors -- up 0.6 percent -- approved Tuesday the half-year financial report as of June 30 reporting a net profit of EUR23.9 million, up 31 percent from EUR18.2 million in the same period last year.

On the Small-Cap side, Centrale del Latte d'Italia finished in the green by 18 percent after approving Tuesday its results as of June 30, a period in which the company reported revenues of EUR169.8 million compared to EUR145.0 million in 2022, an increase of 17 percent, "thanks to the ability to acquire new customers in the Dairy segment and an increase in the average selling price as a consequence of strong inflation that also characterized the first six months of the year," as the company explained in a note.

Esprinet finished the day trailing by 21 percent after announcing Tuesday that the board of directors approved the consolidated half-year financial report as of June 30 reporting a 65 percent drop in adjusted profit to EUR6.4 million from EUR18.3 million in the same period last year.

SAES Getters, in the red by 0.5 percent, on Tuesday reported consolidated revenues of EUR122.3 million, up 1.7 percent from EUR120.2 million in the first half of 2022.

Consolidated gross industrial profit stood at EUR53.5 million, up 0.5% from EUR53.2 million as of June 30, 2022

The board of directors of Landi Renzo -- in the red by 1.7 percent -- reported that the company posted a loss of EUR20.9 million in the first half of the year, worsening from a loss of EUR6.6 million as of June 30, 2022.

Among SMEs, Finanza.tech closed on top with an 18 percent rise after Tuesday's approval of its half-yearly report as of June 30, which shows a strong growth trend, with a triple-digit increase in net income to EUR804,464 from EUR330,588 in the first half of 2022.

Consolidated revenues amounted to EUR7.5 million from EUR2.1 million, also up triple digits from H1 2022.

Innovatec - in the red by 1.6 percent - announced Tuesday that as part of the process of strengthening the company's management team, the board of directors unanimously co-opted and appointed Pietro Colucci as the group's new CEO with immediate effect, giving him all executive powers.

Spindox -- in the red by 2.0 percent -- announced Tuesday that it has been chosen by Edenred Italy to provide first-level Service Desk, or support for the resolution of issues that directly impact the operations of internal users regarding the use of ICT applications and systems.

The contract covers a three-year period and has a total value of EUR1.7 million.

In Asia, the Nikkei closed 0.2 percent in the red, the Shanghai Composite gave up 0.8 percent while the Hang Seng was down 0.3 percent.

In New York on European night, the Dow closed fractionally in the red, the Nasdaq down 1.0 percent and the S&P 500 down 0.6 percent.

Among currencies, the euro changed hands at USD1.0737 versus USD1.0726 in Tuesday's European stock close, while the pound was worth USD1.2452 from USD1.2478 Tuesday night.

Among commodities, Brent crude is worth USD92.22 per barrel versus USD92.09 per barrel at Tuesday's close. Gold, on the other hand, trades at USD1,909.57 an ounce from USD1,912.50 an ounce Tuesday evening.

On Wednesday's economic calendar, Italy's quarterly unemployment rate is due at 1000 CEST, and Eurozone industrial production is due at 1100 EST.

At 1110 CEST Italian 3- and 7-year BTP auctions are scheduled.

In the afternoon, from the U.S. will come at 1300 CEST details on mortgages while at 1430 CEST the monthly and annual CPI.

At 1630 CEST crude oil stocks will come out.

In Piazza Affari, the half-year results of Alkemy, Caleffi, CY4Gate, Fine Foods & Pharmaceuticals NTM, Franchetti, IRCE, Mondo TV, Orsero and Toscana Aeroporti are expected.

By Chiara Bruschi, Alliance News reporter

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