(Alliance News) - On Wednesday, major European stock markets are expected to be in positive territory ahead of the release of PMI data for major Eurozone markets.

Thus, IG futures give the FTSE Mib in the green by 0.2 percent or down 67.5 points, after closing up 0.6 percent at 28,164.99.

Paris' CAC 40 is expected up 16.0 points or up 0.2 percent, Frankfurt's DAX 40 is given in the green by 0.4 percent or up 56.2 points, and London's FTSE 100 is expected up 16.3 points or up 0.2 percent.

In macroeconomic news, the au Jibun Bank index for Japan's service sector released Wednesday by S&P Global rose to a three-month high of 54.3 in August from 53.8 in July.

This was the twelfth consecutive month of growth in the services sector and the fastest pace since May, supported by a solid increase in new orders, with new business from abroad also rising despite the rate of expansion declining.

Japan's au Jibun Bank manufacturing PMI rose to 49.7 in August from a final reading of 49.6 in July, exceeding market estimates of 49.5.

Returning to the smaller Milan listings, the Mid-Cap closed up 0.3 percent to 41,272.32, the Small-Cap closed just above par at 26,767.81, and Italy Growth closed 0.2 percent in the red at 8,831.48.

On the blue chip list, Prysmian took the top spot, up 4.0 percent after announcing that it has been selected by TSO Amprion, one of Europe's leading transmission system operators, as the preferred bidder for the two offshore grid connection systems BalWin1 and BalWin2 and the DC34 onshore cable project. The preferred bidder agreement includes an obligation for the parties to negotiate in good faith the yet-to-be-defined points of the projects, with the goal of entering into final contracts by January 15, 2024. Prysmian has committed to reserve the required production and installation capacity until that date. The contracts have a total value of about EUR4.5 billion.

High quarters also for DiaSorin, which moved ahead 2.8 percent with new price at EUR91.92 per share, after a 0.4 percent decline on the eve.

Also doing well was STMicroelectronics, which closed up 2.5 percent at EUR43.61. The stock since the beginning of the year marks an increase of more than 33 percent.

On a negative note, among others, is Campari, which contracted 0.7 percent, after a 0.7 percent gain on the eve.

Also in the rear-view for Telecom Italia, down 0.8 percent after 0.4 percent profit on the eve.

On the Mid-Cap, Carel Industries brought home 2.4 percent after 0.8 percent green in the previous session.

Alerion brought home 0.8 percent after two sessions ended in the red.

OVS, on the other hand, advanced 1.7 percent on the heels of the previous session's 0.3 percent, with the company proceeding steadily with its buyback program.

Ceding ground, among the many bearish performers, MFE, with class A shares leaving 1.6 percent on the parterre after closing the same percentage but up the night before.

Among small-cap companies, doValue brought home a 3.2 percent gain, following up on the eve's gain, albeit coln a tepid 0.6 percent.

Good buys also on Giglio Group, which brought home 1.0%, following eve's 3.2% decline.

SS Lazio rose 1.1% after closing some market transactions that overshadowed the league debut defeat at home to Lecce.

Bioera gained 1.0 percent after reporting that, at the request of Golden Eagle Capital Advisors, five convertible bonds part of the first tranche of the convertible bond cum warrant subscribed by the investor were subject to conversion. The first tranche of the POC consisted of 50 convertible bonds with a total countervalue of EUR500,000, and following the conversion, two bonds remain to be converted within the first tranche.

Among SMEs, Circle raised 4.7 percent. On Monday the company announced that it had signed a contract with yet another leading port in the eastern Mediterranean Sea. The value of the order is approximately EUR135,000 and the duration of the assignment is nine months.

H-Farm, on the other hand, picked up 5.7 percent after two sessions closed in the red.

Innovatec gave up 1.1 percent despite the fact that Modefinance, an Italian rating agency registered with ESMA, confirmed a public 'B1+' rating to its creditworthiness. "This rating-equivalent, based on the current mapping, to the 'BBB+' rating of the main international rating agencies-represents a higher score than the minimum required to consider the company's issues investment grade," the company explained in a note.

Deodato.Gallery gave up 4.2 percent with price at EUR0.5080, at its new 52-week low.

In Asia, the Nikkei is rising 0.4 percent to 31,979.63, the Hang Seng is picking up 1.0 percent to 17,968.99, while the Shanghai Composite is in the red 0.3 percent to 3,109.76.

In New York on Tuesday, the Dow Jones closed down 0.5 percent to 34,288.83, the S&P finished 0.3 percent in the red to 4,387.55, while the Nasdaq gained 0.1 percent to 13,505.87.

Among currencies, the euro changed hands at USD1.0862 versus USD1.0851 in Tuesday's closing European equities while the pound was worth USD1.2754 from USD1.2737 Tuesday evening.

Among commodities, Brent crude is worth USD84.14 per barrel versus USD84.02 per barrel at Tuesday's close. Gold, on the other hand, trades at USD1,931.10 an ounce from USD1,897.87 an ounce Tuesday evening.

On Wednesday's economic calendar, between 0915 CEST and 1000 CEST will come the manufacturing and services PMIs from France, Germany, and the Eurozone. At 1030 CEST, the one from the United Kingdom will be due.

At 1300 CEST, it is the turn of the U.S. mortgage report, while at 1400 CEST comes data on building permits. At 1630 CEST the Cushing inventory and EIA report.

At 1900 CEST an auction of bonds with a 20-year maturity is scheduled.

No particular announcements are expected among companies.

By Claudia Cavaliere, Alliance News reporter

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