(Alliance News) - On Wednesday, major European stock markets open in positive territory -- except for the FTSE 100 -- with Milan still acting as the locomotive, ahead of the release of several macroeconomic data in the Eurozone and while the French political crisis still holds sway.

Thus, the FTSE Mib opens up 0.8 percent to 34,108, the Mid-Cap is in the green 0.7 percent to 47,452.81, the Small-Cap is up 0.5 percent to 27,504.16, and Italy Growth is up 0.1 percent to 7,721.57.

In Europe, London's FTSE 100 is in the red by 0.3 percent, Paris' CAC 40 gains 0.3 percent, and Frankfurt's DAX 40 rises 0.4 percent.

In macroeconomic news, the Caixin index for China's service sector fell to 51.5 in November from October's three-month high of 52.0, missing market forecasts of 52.5, according to data released Wednesday by S&P Global.

The latest reading indicated a slowdown in new business growth and foreign sales. Meanwhile, employment rose for the third consecutive month, albeit only marginally, with a modest increase in the backlog for the fourth month.

From Japan they report that the private sector returned to slight growth in November, according to data released Wednesday by S&P Global.

The composite PMI index on manufacturing, calculated by au Jibun Bank, rose to 50.1 in November from 49.6 in October, signaling a stabilization of output in Japan's private sector after October's contraction.

Back in Milan, on the Mib, Campari did best of all, rising 5.0 percent. The company announced before the open that it has chosen Simon Hunt as Chief Executive Officer of Campari Group.

Hunt will take over from current interim co-CEOs Paolo Marchesini, Chief Financial and Operating Officer, and Fabio Di Fede, Chief Legal and M&A Officer.

BPER Banca--up 1.2 percent--reported Wednesday that it has received prudential requirements from the European Central Bank to be met as of Jan. 1, 2025.

The ECB ruled that BPER will have to maintain on a consolidated basis a minimum capital ratio in terms ofCommon Equity Tier 1 ratio of 8.93 percent - consisting of the sum of the minimum regulatory Pillar 1 requirement of 4.5 percent, the additional Pillar 2 requirement of 1.27 percent and the Combined Buffer Requirement of 3.16 percent -, while the minimum Total Equity requirement will have to be 13.41 percent.

Eni - in the green by 1.0% - on Tuesday reported that Enilive, a company dedicated to mobility products and services, announced a new agreement with the airline easyJet to supply some flights departing from Milan Malpensa airport with sustainable aviation fuel - Sustainable Aviation Fuel.

Snam - in the green by 0.5 percent - and VTTI on Tuesday announced that they had completed the acquisition of shares in Terminale LNG Adriatico Srl, the company that owns Italy's largest liquefied natural gas regasification terminal located in the waters off Porto Tolle, Rovigo.

Among the bearish, there is only Terna, which gives up 0.1 percent.

On the Mid-Cap, Salvatore Ferragamo -- in the green by 2.3% -- on Monday took note of the latest selling and confirmed its previously announced operating results forecast.

In light of the industry slowdown and new market estimates, simulations related to the impairment test for the 2024 financial statements were analyzed.

These simulations suggest possible write-downs of some assets, estimating an overall impact between EUR70 and EUR90 million.

Fincantieri - in the green by 3.2 percent - announced Tuesday that it had delivered "Viking Vela," the first in a new series of cruise ships it is building for shipowner Viking.

LU-VE--down 0.2 percent--reported Tuesday that it had inaugurated the doubling of its LU-VE Tianmen plant in China's Hubei province. The production facility has expanded from 19,000 square meters to over 43,000 square meters with 6,640 square meters dedicated to finished goods storage.

On the Small-Cap, Eurotech gives up 0.8 percent after it announced Wednesday that it has received the resignation with immediate effect and for personal reasons of non-executive and non-independent director Alberta Gervasio.

KME Group--not yet affected by trading--reported that its subsidiary KME has received approval for the acquisition of 100 percent of the shares of Blackhawk Holding, a German holding company that owns 100 percent of Sundwiger Messingwerk GmbH from the German antitrust authority.

Closing of the transaction, which now goes through the Austrian antitrust authority, is expected in the first quarter of 2025.

Among SMEs, Alkemy's ordinary shareholders' meeting -- not yet affected by the exchanges -- on Tuesday appointed a new nine-member board of directors for the three-year period 2024-2027, after revoking the current board of directors.

Barnabas Ravanne was chosen as chairman of the board.

FAE Technology -- down 0.3 percent -- on Tuesday approved a capital increase of EUR2.0 million to complete the acquisition of IpTronix Srl, scheduled to be completed by Dec. 31.

The transaction, approved by the board of directors, involves the issuance of 478,468 ordinary shares at a unit price of EUR4.18, a 39 percent premium to market value.

Promotica still does not trade after rising 7.5 percent at yesterday's close. The company on Tuesday reported that it launched five loyalty campaigns in November for major national and international retail players such as Coop, Carrefour and the DESA group, worth a total of more than EUR24 million.

Maps - in the green by 0.3 percent - announced the supply of an integrated software and hardware system to the Arna consortium, composed of Rizzani de Eccher, Manelli Impresa and Sacaim, for the management of Legality Protocols, Job Documentation and Access Detection. The order has a duration of 3 years and a total value of EUR362,000, strengthening Maps' position as a partner of choice.

Cyberoo is flat at EUR2.12. The company announced Tuesday that it has signed its first contracts with new strategic partners in Spain. The partnerships include the resale of Cyberoo's Managed Detection & Response services and offer widespread coverage in three of Spain's main strategic areas-Madrid, Barcelona, and Bilbao.

Mare Group rises 0.2 percent. The company Tuesday announced the start of a EUR4.5 million framework agreement with an international Aerospace & Defense customer for high-tech software development, with completion expected in 24 months.

In Asia, the Nikkei closed in the green by 0.1 percent, the Hang Seng finished just below parity, and the Shanghai Composite closed down 0.4 percent.

In New York, the Dow closed the session down 0.2 percent, the Nasdaq rallied 0.4 percent and the S&P 500 gave up 0.2 percent.

Among currencies, the euro changed hands at USD1.0501 from USD1.0507 in Tuesday's European stock close. The pound is worth USD1.2691 versus USD1.2654 on Tuesday evening.

Among commodities, Brent crude is worth USD73.78 a barrel from USD73.60 at last night's close. Gold trades at USD2,660.25 an ounce from USD2,665.44 an ounce Tuesday evening.

Wednesday's macroeconomic calendar includes, at 0945 CET, Italy's services PMI and, at 5-minute intervals, France's and Germany's, closing at 1000 CET with the Eurozone's. At 1030 CET, it is the turn of the UK services PMI data.

In the afternoon, will be released from the US, at 1300 CET the mortgage report, at 1545 CET the services PMI, at 1600 CET the durable goods data, at 1630 CET the crude oil stocks data.

Returning to the eurozone, at 1630 CET, there is anticipation for ECB President Lagarde's speech.

It closes, from the US, at 1945 CET with the Fed's Powell speech.

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

By Claudia Cavaliere, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.