(Alliance News) - On Wednesday, major European stock markets close lower -- with the exception of London -- on a day packed with macroeconomic cues before the Thanksgiving break and as French stocks come under pressure from the looming political crisis.

Thus, the FTSE Mib closes 0.2 percent in the red at 33,089.72, the Mid-Cap loses 0.4 percent to 46,690.07, the Small-Cap rises 0.2 percent to 26,922.61, while Italy Growth gives up 0.5 percent to 7,667.46.

In Europe, London's FTSE 100 ends in the green 0.2 percent to 8,274.75, Frankfurt's DAX 40 loses 0.2 percent to 19,261.70, while Paris' CAC 40 is down 0.7 percent to 7,142.68.

"The calm in the London stock market contrasts with the ongoing turmoil in France, where the CAC40 hit a new four-month low as government borrowing costs skyrocketed. French politics have been out of the headlines for a while, but the government appears to be at risk as it tries to pass a budget. European stocks as a whole have failed to keep up with the U.S. recently, but in France the poor performance of the luxury sector and concerns about the political outlook have caused the gap to become a chasm. A repeat of the Eurozone crisis is unlikely, but ECB intervention seems likely if the situation worsens," commented Chris Beauchamp, Chief Market Analyst at IG.

"As Americans look forward to Thanksgiving, the Dow broke through a record high: the index briefly breached 45,000, less than a month after first touching the 44,000 level. Signs of stabilization in the core PCE make investors fear that the Fed may suspend its easing policy sooner than expected."

Indeed, in overseas macroeconomic news, the U.S. core PCE price index, the Federal Reserve's preferred indicator for measuring underlying inflation, rose 0.3 percent from the previous month in October, at the same pace as in September and in line with market expectations, according to data released Wednesday by the U.S. Bureau of Economic Analysis.

On an annual basis, core PCE prices rose 2.8 percent in October, the highest in six months, also in line with market estimates.

The U.S. personal consumption expenditures price index rose 0.2 percent on a monthly basis in October, the same as in September.

Returning to Milan, on the highest-capitalization list in Piazza Affari, Banca Monte dei Paschi di Siena does best of all and takes the top spot with a rise of 3.2 percent.

On the stock it is mentioned that Capital Fund Management raised its short position to 1.09 percent from 0.99 percent.

Also going up is Pirelli & C, up 1.9%, while Campari closes the podium with a 1.8% gain.

Banco BPM - in the green by 1.1 percent - announced Tuesday that its board of directors has appointed Edoardo Faletti as the new head of the risk management function as well as chief risk officer effective Dec. 1, replacing Andrea Rovellini, who is leaving the post to enter retirement.

Saipem rises 1.1 percent after securing an offshore EPCI contract worth USD1.20 billion, including about USD1.00 billion for its share, under the Tangguh Ucc project in Indonesia, Il Sole 24 Ore wrote Wednesday.

The contract, in consortium with PT Meindo Elang Indah and awarded by BP Berau Ltd, covers the development of the Ubadari field, CO2 capture and storage, and onshore compression in Papua Barat province.

Among the bearish performers is STMicroelectronics, down 2.3 percent. Also going down is Assicurazioni Generali, which leaves 2.2% on the sidelines, while Iveco Group gives up 1.0%.

On the cadet segment, Zignago Vetro rises 1.1 percent after announcing Wednesday that it has terminated the employment relationship with Roberto Celot, the company's executive in charge and investor relator.

The employment relationship was terminated for reasons of reorganization of the role.

Rai Way rises 0.8 percent. The company unveiled in Milan the first five Edge Data Centers, key infrastructures to improve digital connections and services in Italy.

As Milano Finanza reports Wednesday, the project, part of a plan of more than EUR100.0 million by 2027, includes a fiber optic backbone of more than 6,000 km and aims to serve SMEs and public administration with storage and data security solutions.

Cementir Holding gives up 0.7 percent. The company aims to reduce CO2 emissions with two EUR1.00 billion projects targeting plants in Aalborg, Denmark, and Gaurain-Ramecroix, Belgium, Il Sole 24 Ore explained Wednesday.

On the Small-Cap, Mondo TV--declining 2.0 percent--reported Tuesday that it has strengthened its partnership with Seychelles state TV, SBC, with the preliminary agreement to license the series Monster Loving Maniacs, produced by Mondo TV with JA Films, Belvision and Ginger Pictures, in collaboration with Toon2Tango.

BasicNet rises 3.5 percent. The company announced Tuesday that, following the announcement regarding Permira Funds' strategic investment in K-Way, Luca Lo Curzio will be the CEO of K-Way.

Zest gives up 1.3 percent. The company announced that it has updated its forecast for 2024, now expecting revenues to fall to around EUR9 million.

According to the company, this decline is attributable to delays in the completion of post-merger and corporate reorganization transactions, the impact of the general economic slowdown, and more contingent reasons.

Among SMEs, Racing Force gives up 3.7 percent after it announced Wednesday that it has extended the multi-year partnership between its OMP brand and the Maserati MSG Racing team, which will start in the FIA Formula E World Championship.

Eligo's shareholders' meeting - which was not affected by trading - on Tuesday resolved to grant the board of directors the authority to increase its share capital by a total amount of EUR1.7 million.

Health Italia gives up 3.0 percent. The company announced Tuesday that the shareholders' meeting authorized the purchase and disposal of treasury shares up to 20 percent of the share capital for 18 months.

An extraordinary in-kind dividend in the form of shares in Rebirth Spa, in which Health Italia holds a 43.52 percent stake, was also approved, representing 25.75 percent of its share capital.

Energy Spa on Tuesday reported that the shareholders' meeting of its subsidiary Enermore resolved to change its name to EnergyOnSite.

In New York, the Dow is in fractional green at 44,865.75, the Nasdaq is down 1.0 percent at 18,983.44 while the S&P 500 is down 0.4 percent at 5,997.04.

Among currencies, the euro changes hands at USD1.0562 from USD1.0487 in Tuesday's European equities close. The pound is worth USD1.2679 versus USD1.2574 on Tuesday evening.

Among commodities, Brent crude is worth USD72.52 per barrel from USD73.49 per barrel last night. Gold trades at USD2,666.39 an ounce from USD2,623.09 an ounce last night.

On Thursday's economic calendar, while U.S. stock exchanges will be closed for Thanksgiving, at 0050 CET foreign investment data arrives from Japan.

In Europe, at 0900 CET it is the turn of inflation data, while an hour later in Italy the consumer and business confidence data is released, along with German inflation and in the Eurozone the M3 money supply data.

Again in Italy, at 1100 CET, it is the turn of the publication of producer prices and in the Eurozone of consumer and business confidence.

At 1400 CET, the German inflation data from Destatis is expected.

Among companies listed in Piazza Affari, no particular announcements are expected.

By Claudia Cavaliere, Alliance News reporter

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