(Alliance News) - On Wednesday, major European indexes tacked around parity, while in Germany, among the few macros of the day, consumer sentiment emerged to worsen beyond expectations.

The GfK indicator, in fact, fell to minus 21.8 for July from a marginally revised minus 21.0 in the previous period, missing market forecasts of minus 18.9 and marking the first decline in five months.

Thus, the FTSE Mib falls 0.1 percent to 33,675.70, Mid-Cap gives up 0.3 percent to 47,146.54, Small-Cap loses 0.6 percent to 28,735.10 while Italy Growth rises 0.1 percent to 8,136.22.

In Europe, London's FTSE 100 advances 0.3% to 8,274.74, Frankfurt's DAX 40 rises 0.5% to 18,263.70 while Paris' CAC 40 gives up 0.1% to 7,654.23.

On the Mib, Pirelli - down 0.3 percent - announced Tuesday that it had completed the placement with international institutional investors of a sustainability-linked bond for a total nominal amount of EUR600 million. The issue was placed with more than 210 international investors and saw demand of more than 4.6 times the supply, which amounted to about EUR2.8 billion

Banco BPM - down 0.2% - has set up a EUR2 billion plafond to support Italian companies in the transformation of structures and production processes towards an efficient, sustainable and renewable energy model: with the aim of facilitating access to the facilitating opportunities that will be offered by the Transition 5.0 Plan.

The bank has thus made available, along with financial resources, the broadest medium- to long-term financing solutions for the transition from both a sustainability and digitization perspective.

At the top are Saipem and Telecom Italia, up 3.8 percent and 0.7 percent, respectively.

Moncler trades down 0.4 percent. Of note, RBC cut its target price to EUR68.00 from EUR69.00 with the stock 'sector perform'.

On the Mid, CIR - in the red by 1.9% - on Tuesday informed that it had finalized the sale to Merope Srl, a real estate investment and development company, of its non-instrumental real estate complex located in Milan on Via Dell'Orso.

The consideration, as announced when the preliminary agreement was signed in December 2022, amounted to EUR38.0 million, of which EUR7.0 million had already been previously collected as a deposit.

Iren's board of directors - down 1.0 percent - on Tuesday approved an update of the business plan to 2030. Among the indicators, the company expects to achieve Ebitda of around EUR1.8 billion to 2030, up EUR600 million from 2023, with a CAGR of 6 percent.

In addition, the board of directors approved the dismissal of Paolo Signorini for objective just cause, as a result of the objective incompatibility of Signorini's work performance, as a top executive of Iren, with the contingent situation generated.

As the company explains in a note, the precautionary detention measures taken against Signorini on May 7, connected to the ongoing investigations of the Genoa Public Prosecutor's Office and confirmed even after the petitions put forward by his defense, "cause an impossibility, now irreversible and no longer only temporary, of exercising his functions as a top executive

Among smallcaps, Beghelli is down 0.8 percent after announcing Tuesday that an agreement to sell the Crespellano industrial complex with a leading real estate operator has been finalized. The proceeds of the agreement, amounting to EUR17.5 million, will be allocated as a priority to the repayment of the outstanding debt of the loan to the institute having a mortgage on the real estate and, under previous contractual agreements, to the repayment of the outstanding debt of a pooled loan, for a total aggregate principal amount of EUR5.2 million.

FNM is on par. On Tuesday, the company disclosed that its board of directors approved the purchase of 2.1 million ordinary shares in Nordcom from the TIM group.

These, corresponding to 42 percent of the share capital, thus make FNM the sole shareholder of Nordcom, increasing the stake to 100 percent.

Among SMEs, Rosetti Marino -- up 1.8 percent -- announced Wednesday that it has been awarded a new contract for offshore EPC activities in the Mediterranean Sea worth more than EUR400 million, equivalent to 33 percent of the value of the entire project.

The project, in fact, was awarded by Mellitah Oil & Gas BV - Libyan Branch - National Oil Corporation of Libya and Eni North Africa - to Rosetti Marino, in consortium with Kerry Project Logistics Italia Spa and Gruppo Antonini Spa.

Lemon Sistemi rises 0.4 percent. The company announced Wednesday that the remaining 415,805 ordinary shares of the company's capital increase have been subscribed by GWM Growth Fund SA SICAV RAIF - part of the GWM Group.

The shares taken over by GWM represent 4.84 percent of Lemon Sistemi's share capital and were subscribed at EUR1.47, for a total of EUR611,233.35.

Innovatec gives up 1.6 percent. The company announced Tuesday-as part of its growth strategy in renewable energy-the start of work on two photovoltaic plants in Calabria, located in Petilia Policastro and Girifalco, and one in Puglia, in Palo del Colle.

Bellini Nautica - in the green by 0.7 percent - announced on Wednesday that it had drafted its new business plan 2024-2027, in order to consider the startup of the business line manned by Bellini Yacht, intended for the production and sale of boats between 36 and 66 feet.

In detail, revenues are expected at EUR19.4-21.5 million in 2024, EUR31.7-35.1 million in 2025, EUR40.9-47.1 million in 2026, and EUR49.7-60.7 million in 2027.

Racing Force -- up 5.4 percent -- reported Wednesday that the EUR7.5 million capital increase launched yesterday through accelerated bookbuilding was fully subscribed at EUR4.43 per share.

In detail, Axon Partners Group Investment subscribed EUR5 million while Bahrain Mumtalakat Holding Co. BSC committed EUR2 million. Both have made lock-up commitments with the company of 180 days.

After the aucap, SAYE will continue to be the major shareholder of Racing Force, with a 49.5 percent stake. The company's new capital is EUR2.74 million, divided into 27.4 million ordinary shares.

E-Globe is not yet trading. It announced Monday that it had finalized the acquisition of 100 percent of the share capital of Bayona Petit Tradex Consulting, a company specializing in the online sale of air conditioning and heat pump products and owner of the www.climamarket.eu brand as well as 14 additional European domains.

The agreed purchase price is EUR3.0 million.

Ecomembrane - up 6.4 percent - on Tuesday disclosed that it has signed, following a tender, a three-year "Framework Contract" with a leading Italian energy operator for the supply and installation of components for roofing systems for a maximum estimated and unsecured amount of EUR2.7 million, with the buyer's option to increase this amount up to a maximum of 50 percent and/or to extend the contract term up to a maximum of a further 24 months.

GM Leather - flat at EUR1.19 - on Tuesday announced that it had finalized - effective July 1 - through Chiorino Leather the lease of the Chiorino Technology Spa business.

The contract provides for a term of 30 months, effective July 1, 2024, and expiring on December 31, 2026, and a lease fee of EUR120,000.00 per year, plus VAT, to be paid in monthly installments of EUR10,000.00 each.

In Asia, the Nikkei closed up 1.4 percent to 39,713.62, the Hang Seng finished fractionally green at 18,089.93and the Shanghai Composite rose 0.8 percent to 2,972.53.

In New York, the Dow closed down 0.8 percent to 39,112.16, the Nasdaq finished up 1.3 percent to 17,717.65, and the S&P 500 rallied 0.4 percent to 5,469.30.

Among currencies, the euro changed hands at USD1, from USD1.0707 in Tuesday's European equities close while the pound was worth USD1, from USD1.2677 Tuesday evening.

Among commodities, Brent crude trades at USD per barrel from USD85.60 per barrel at Tuesday's close. Gold, on the other hand, trades at USD2. an ounce from USD2,318.76 on Tuesday evening.

Wednesday's macroeconomic calendar calls for the US mortgage report at 1300 CEST while the Cushing inventory report and EIA report are expected at 1630 CEST.

At 1900 CEST, on the other hand, an auction of Treasury notes with 5-year maturity is scheduled.

By Chiara Bruschi, Alliance News reporter

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