(Alliance News) - Major European stock markets remain below parity at mid-day Wednesday after the release of data on the construction sector, which was again found to have contracted in August.

In the Eurozone, the HCOB PMI index for the construction sector released by S&P Global on Wednesday fell to 43.4 in August from 43.5 in the previous month, marking the sixteenth consecutive deterioration in total activity and a marked deterioration overall. It was also the lowest reading since December 2022.

In Italy, the HCOB PMI index fell in August to 47.7 from 48.0 in July and remaining below the no-change threshold of 50.0.

Thus, the FTSE Mib gives up 0.8 percent to 28,433.00, the Mid-Cap is in the red 0.4 percent to 41,867.65, the Small-Cap gives up 0.4 percent to 27,122.67 while Italy Growth gives up 0.4 percent to 8,849.15.

In Europe, Paris' CAC 40 gives up 0.7 percent, Frankfurt's DAX 40 is down 0.3 percent and London's FTSE 100 is down 0.8 percent.

On the bluechip list, Telecom Italia trades well, rising 1.2% pointing to its eighth bullish session.

Stellantis follows, up 1.3%, on its third bullish session.

Prysmian -- up 0.9 percent -- on Tuesday disclosed that it has signed a capacity reservation agreement for a capacity reservation fee of up to about EUR90 million with Marinus Link Pty Ltd, a subsidiary of TasNetworks, Australia's transmission systems operator, for a new electricity interconnection between Tasmania and the state of Victoria. The agreement includes, among other things, the Commonwealth government's guarantee of the capacity reservation fee of up to about EUR90 million and Prysmian's continued availability of capacity until the final contract is signed to be in place by July 2024.

Moncler, on the other hand, is giving up 3.4 percent, placing the price at EUR59.52 and closing the bluechip list.

Also nearby is Campari, which marks minus 2.9 percent with price at EUR11.77.

Assicurazioni Generali - in the red by 0.3% - placed on Tuesday a new euro-denominated Tier 2 bond maturing in September, issued in a "green" format under its Sustainability Bond Framework.

On the Mid-Cap, Banca Popolare di Sondrio is advancing well, posting a plus 5.3 percent, rearing its head again after four bearish sessions. Unipol - down 0.5 percent on the Mib - announced that it has "started the preparatory activities to obtain the necessary authorizations from the competent Italian and foreign Supervisory Authorities in order to evaluate, taking into account the market conditions and the general context from time to time, possible future increases in the equity investment held by the Unipol group in Banca Popolare di Sondrio."

Antares Vision steps up 1.4 percent to EUR6.51, with half-year results expected early next week.

Anima Holding, on the other hand, trades in the red by 0.3 percent after announcing Wednesday that net inflows from assets under management in August were EUR256 million positive. Taking into account Branch I insurance proxies, negative EUR1.12 billion, total net inflows for the month were negative EUR866 million, and negative EUR742 million since the beginning of the year. At the end of August, the group's total assets under management stood at around EUR188.2 billion up from EUR182.8 billion recorded on August 31, 2022.

Safilo, on the other hand, is giving up 2.5 percent. The company Tuesday morning announced that, following up on the company's previous communications, it confirms that the minutes of agreement for the future of the Longarone plant were signed this morning in the Veneto Region.

On the Small-Cap, Olidata takes the top spot with a 13 percent rise after announcing Tuesday that it has been awarded an Enel contract worth about EUR5.0 million through its subsidiary Sferanet. The contract is for a digitization and document management solution, Olidata points out in a statement.

Servizi Italia, meanwhile, advances 2.0 percent to EUR1.31 per share, in its third bullish session.

Piquadro advances 0.9 percent to EUR2.28, after touching a 52-week high at EUR2.35. The company, which is continuing with its buyback program, most recently disclosed on Monday that it bought back its own shares in the period between August 28 and September 1 for a total value of about EUR67,000.

Netweek, meanwhile, is giving up 3.8 percent, with price at EUR0.3290, in its third bearish session.

Immsi, in the red by 0.9 percent, after a 1.5 percent gain on the eve. The company announced Tuesday that its board of directors approved its half-year report as of June 30, reporting a net profit of EUR47.1 million, up 27 percent from EUR24.4 million in the same period of 2022. Revenues amounted to EUR1.28 billion, up from EUR1.07 billion in the first half of 2022.

Among SMEs, good trades on Finance.Tech, which trades up 3.6% at EUR0.75, rearing its head after three sessions in a bearish trend.

The buy side also prevails on Energy, which marks a plus 2.6 percent after eve's 4.5 percent decline.

Digital360 is flat at EUR5.34. The company announced Tuesday that it has concluded through its Spanish subsidiary Digital360 Iberia SL, the acquisition of a 51% stake in Omnitel Comunicaciones SL, and 55% in AdjudicacionesTic SL, both based in Madrid, with the possibility of acquiring the remaining shares in 2026, in conjunction with the approval of the budget for the year 2025.

Intred is not yet trading. On Tuesday, it entered into a multi-year framework agreement with Vodafone Italia for the provision under IRU - Indefeasible Right of Use - of fiber-optic network sections owned by Intred.

The value of the first supply lot, the company points out, is more than EUR3 million.

Among U.S. exchanges, the Dow Jones closed in the red 0.6 percent to 34,641.97, the S&P down 0.4 percent to 4,496.83 while the Nasdaq finished down 0.1 percent to 14,020.95.

Among currencies, the euro changed hands at USD1.0735 against USD1.0715 in Tuesday's closing European equities while the pound was worth USD1.2547 to USD1.2565 Tuesday evening.

Among commodities, Brent crude is worth USD89.48 per barrel versus USD90.78 per barrel at Tuesday's close. Gold, on the other hand, trades at USD1,925.96 an ounce from USD1,927.00 an ounce Tuesday evening.

On Wednesday's economic calendar, at 1300 CEST the 30-year mortgage rate will come out, at 1430 CEST the trade balance, at 1545 CEST manufacturing and services PMI. In the evening, at 2000 CEST there will be a Fed speech by Logan, and at 2230 CEST the weekly oil stocks figure.

By Maurizio Carta, Alliance News reporter

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