(Alliance News) - On Wednesday, the main European indices continue to move in negative territory, with the Milan Stock Exchange falling to 43,100 while Frankfurt continues to record the highest sales.

On the macroeconomic front, Italy's services economy recorded its strongest growth in 17 months in October, supported by a sharp increase in new orders and a return to export growth. The HCOB and S&P Global Italy Services PMI rose to 54.0 from 52.5 in September, signaling an acceleration in activity in the sector.

In September, retail sales fell by 0.5% in both value and volume terms, compared with a 0.2% decline in August.

The Eurozone economy recorded its strongest expansion in 29 months in October. The composite PMI compiled by HCOB and S&P Global rose to 52.5 from 51.2 in September, while the services index rose to 53.0 from 51.3, marking its highest level in 17 months.

As a result, the FTSE Mib is down 0.3% to 43,142.62, the Mid-Cap is down 0.6% to 56,730.10, the Small-Cap is down 1.0% to 36,038.99, while the Italy Growth is down 0.4% to 8,598.35.

The FTSE 100 in London is down 0.1%, the CAC 40 in Paris loses 0.3%, while the DAX 40 in Frankfurt drops 0.7%.

On the Italian stock exchange's highest capitalization index, FinecoBank is up 1.9% after announcing that it closed the first nine months with a net profit of EUR480.5 million, down from EUR490.0 million at September 30, 2024. Revenues for the nine months amounted to EUR 969.6 million, down from EUR 984.1 million in the same period of 2024.

Ferrari gained 0.7% after rising 3.2% the previous day following the publication of its nine-month results. On Tuesday, the Prancing Horse company announced that it had closed the first nine months of 2025 with a net profit of EUR 1.22 billion, up 7% from EUR 1.14 billion in the same period of 2024. Net revenues grew 8% to EUR 5.34 billion from EUR 4.94 billion.

The Maranello-based company confirmed its upward revision of its 2025 guidance, with expected revenues of EUR7.1 billion or more, adjusted EBITDA of at least EUR2.72 billion and a margin of 38.3%, adjusted EBIT of EUR 2.06 billion with a margin of 29%, adjusted earnings per share of at least EUR 8.80, and industrial free cash flow of approximately EUR 1.30 billion.

Stellantis continues to trade in positive territory, up 1.1% with over 11 million shares traded.

Lottomatica fell 3.3% after ending Tuesday evening at the top with a 3.3% rise.

Eni reversed course and gained 0.1%. Yesterday, it announced the completion of the sale of a 20% stake in Plenitude to Ares Alternative Credit funds, affiliated with Ares Management Corporation.

BPER Banca, down 1.6%, announced on Tuesday its intention to proceed with the early redemption of the bond loan denominated "Euro 400,000,000 Fixed Rate Tier 2 Subordinated Callable Notes," originally maturing on November 30, 2030. The redemption date is set for November 30 of this year, five years before the regulatory maturity date.

Leonardo is down 2.5% following yesterday's losses. The company and Rheinmetall, through the Leonardo Rheinmetall Military Vehicles joint venture, equally owned by the two companies, announced that they have been awarded the first contract to supply 21 "A2CS Combat" armored vehicles to the Italian Army. The first vehicle is expected to be delivered by the end of 2025.

Nexi remains at the bottom of the main index, down 6.1% to EUR4.193. The company announced its consolidated financial results as of September 30, highlighting growth in revenues and EBITDA. In the first nine months of 2025, revenues amounted to EUR 2.64 billion, up 2.8% from EUR 2.57 billion in the first nine months of 2024.

On the Mid-Cap, Safilo Group made good gains, advancing 6.0% after announcing on Tuesday that it had closed the first nine months with net sales of EUR 758.4 million, up from EUR 757.4 million as of September 30, 2024. Gross industrial profit for the nine months amounted to EUR 459.9 million, up from EUR 452.5 million in the same period last year.

Mondadori - up 0.1% - announced that its Retail division has acquired 51% of MA Retail.

Salvatore Ferragamo continued its rebound from the previous day's losses, trading up 7.0% at EUR7.22.

NewPrinces - down 0.7% - confirmed on Wednesday that the share capital of Princes Group, consisting of 244.7 million ordinary shares, has been admitted to the ordinary share category of the Financial Conduct Authority's official list and to trading on the main market for listed securities of the London Stock Exchange.

MAIRE - up 0.1% - together with NextChem, signed a Memorandum of Understanding with EDF and NUWARD to jointly explore opportunities for cooperation in the development and implementation of NUWARD's Small Modular Reactor program.

The company also announced on Wednesday that it had closed early the offering of its "Senior Unsecured Sustainability-Linked Notes due 2030" bond, after reaching subscriptions of EUR 275 million.

At the bottom of the secondary market, Technoprobe lost 2.4%.

On the Small-Cap index, Industrie De Nora sold off 4.0% after gaining 17% on Tuesday. The company announced on Tuesday that it had closed the first nine months of 2025 with an adjusted net profit of EUR 64.5 million, up 22% from EUR 52.8 million in the same period of 2024.

At the bottom of the list, Italian Sea Group fell 7.5%.

Among SMEs, Intred - flat at EUR9.88 - announced on Wednesday that it had recorded total revenues of more than EUR40.9 million compared to EUR40.7 million in the first nine months of 2024, marking a 0.5% increase. Net of non-recurring items related to school tenders and the portion of Connecting Italia's turnover relating to low-margin or non-strategic services, core revenues amounted to EUR 34.8 million, up 7.5% year-on-year, as explained by the company in a statement.

Omer - up 0.5% - announced on Wednesday the start of operations for the completion of a new order commissioned by Knorr-Bremse Rail Systems Italia.

Among the bearish stocks on the alternative list with the highest trading value, First Capital fell 1.6%.

In New York on Tuesday evening, the Dow closed down 0.5% at 47,085.24, the Nasdaq fell 2.0% to 23,348.64, while the S&P 500 lost 1.2% to 6,771.55.

On the currency front, the euro traded at USD 1.1480 from USD 1.1490 at Tuesday's stock market close, while the pound traded at USD 1.3030 from USD 1.3045 on Tuesday evening.

Among commodities, Brent crude traded at USD64.92 per barrel, down from USD64.47 per barrel at Tuesday evening's close, while gold was worth USD3,965.39 per ounce, down from USD3,966.70 per ounce on Tuesday evening.

Wednesday's macroeconomic calendar includes the US MBA 30-year mortgage rate and weekly mortgage applications at 1300 CET, followed by eurozone consumer confidence data at 1500 CET.

At 1600 CET, investors will look to the US for the release of the ISM non-manufacturing index, while at 1630 CET it will be the turn of the EIA report.

The day will end at 5:10 p.m. CET with a speech by Breeden of the Bank of England.

By Antonio Di Giorgio, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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