(Alliance News) - On Wednesday, major European stock markets continued the session in positive territory -- except for the FTSE 100 -- with Frankfurt and Milan acting as the locomotive, following the release of several macroeconomic data in the Eurozone and while the vote in France is awaited.

Thus, the FTSE Mib is up 0.8 percent to 34,087.17, the Mid-Cap is in the green by 0.8 percent to 47,468.16, as is the Small-Cap at 27,583.70, and Italy Growth is in the fractional red at 7,711.32.

In Europe, London's FTSE 100 is in the red by 0.4 percent, Paris' CAC 40 gains 0.3 percent, and Frankfurt's DAX 40 rises 0.8 percent.

In macroeconomic news, Italy's services sector posted its first decline in 11 months in November, according to data released Wednesday by S&P Global.

For the first time since early 2024, the services PMI index fell below the 50.0-point line separating contraction from expansion, registering a decline to 49.2 points from 52.4 points in October.

In addition, S&P reported that the country's Composite PMI index-an average of manufacturing and services-again contracted in November, dropping to 4.7 from 51.0 in October.

Private sector activity indicated the largest decline in 13 months, with the service sector joining shrinking manufacturing.

In the Eurozone, the economy is back in contraction again, the latest survey data released Wednesday by S&P Global and compiled with Hamburg Commercial Bank show.

In detail, after a slight recovery in October that saw the index at 50.0, the Composite PMI for the private sector fell back into the contraction zone in November.

The headline index, standing at 48.3, again registered a contraction in private sector economic activity. The decline in output, although modest, was the fastest in a decade.

Finally, with a drop to 49.5 from 51.6 in October, the index signaled the first decline in tertiary activity in ten months. However, the contraction was only marginal overall.

Back in Milan, on the Mib, Campari still did better than anyone, rising 3.6 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 1.4 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 0.6% - on Tuesday reported that Enilive, a company dedicated to mobility products and services, announced a new agreement with easyJet airline to supply some flights departing from Milan Malpensa airport with sustainable aviation fuel - Sustainable Aviation Fuel.

Assicurazioni Generali -- in the green by 0.4 percent -- announced Wednesday that it has reached an agreement to sell 100 percent of its stake in Generali Life Assurance Philippines, Inc. to The Insular Life Assurance Company, Ltd.

The sale will have a negligible impact on Generali's Solvency II Ratio and will generate a capital loss of about EUR20 million, net of taxes and minority interests, with no impact on normalized net income.

Among the bearish performers is Snam - in the red by 0.3 percent. The company and VTTI on Tuesday said 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.

Also going down were Terna, DiaSorin and Hera, down between 0.3 percent and 0.2 percent.

On the Mid-Cap, Salvatore Ferragamo -- in the green by 0.1 percent -- 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 1.7 percent - reported Tuesday that it had delivered "Viking Vela," the first in a new series of cruise ships it is building for shipowner Viking.

LU-VE -- flat at EUR26.85 per share -- announced Tuesday that it had inaugurated the doubling of its LU-VE Tianmen plant in China's Hubei province. The production facility has grown from 19,000 square meters to more than 43,000 square meters with 6,640 square meters dedicated to finished goods storage.

On the Small-Cap, Eurotech rises 1.1 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 the exchanges--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, the ordinary shareholders' meeting of Alkemy -- down 2.1 percent -- 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 1.0 percent -- on Tuesday approved a EUR2.0 million capital increase to complete the acquisition of IpTronix Srl, which is 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 gives up 1.8 percent. 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, with a total value of more than EUR24 million.

Cyberoo rises 0.5 percent. 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.

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 USD1.0500 from USD1.0507 in Tuesday's European stock close. The pound is worth USD1.2680 versus USD1.2654 on Tuesday evening.

Among commodities, Brent crude is worth USD74.19 a barrel from USD73.60 at last night's close. Gold trades at USD2,663.09 an ounce from USD2,665.44 an ounce Tuesday night.

Wednesday's macroeconomic calendar includes, 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.

By Claudia Cavaliere, Alliance News reporter

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