(Alliance News) - On Thursday, major European stock markets close in negative territory, with Milan and Paris struggling the most.

Thus, the FTSE Mib closes 1.5 percent in the red at 33,170.03, as does the Mid-Cap at 45,806.75, the Small-Cap leaves 0.9 percent on the parterre at 28,009.47, while Italy Growth gives up 0.6 percent to 7,975.65.

In Europe, London's FTSE 100 ends in the red 0.1 percent to 8,282.52, Frankfurt's DAX 40 loses 0.9 percent to 18,992.61, while Paris' CAC 40 gives up 1.5 percent to 7,467.74.

In overseas macroeconomic news, the PMI index for the US services sector, released Thursday by S&P Global, was revised downward to 55.2 in September from a preliminary 55.4, down slightly from 55.7 in August but still indicating strong growth.

Sales price inflation also accelerated. Despite the growth, business confidence fell to its lowest level since October 2022 due to fears of an economic slowdown.

In addition, the Composite PMI index was revised downward to 54 in September from a preliminary 54.4, down from 54.6 in August, but continued to indicate robust U.S. private sector growth.

However, divergent trends persisted between the two monitored sectors, with growth centered on the services sector as the decline in the manufacturing sector deepened, at 47.3 versus 47.9.

Back in Milan, on the Mib, among the few bullish performers, Telecom Italia does best of all and takes the top spot with a 1.6 percent gain. The company announced that it has received a non-binding offer from the Ministry of Economy and Finance and Retelit, a subsidiary of the Asterion fund, to purchase Sparkle.

The proposal recognizes an enterprise value of EUR700 million for Sparkle, will be valid until Oct. 15, and will be submitted to TIM's board of directors for review upon completion of preliminary activities preparatory to the evaluation of the offer.

Iveco Group also goes up, up 0.5 percent, while BPER Banca, which closes the podium, up 0.4 percent.

Among the bearish is Stellantis, down 4.0%. Going down on bottom is DiaSorin, down 4.1%, while Saipem flexes 3.6%.

Eni--down 0.1%--reported Thursday the completion of the aggregation of almost all of its exploration and production assets located in the UK, excluding those located in the East Irish Sea and those related to CCUS projects, to the assets of Ithaca Energy PLC.

Eni UK will receive newly issued ordinary shares in Ithaca representing a stake of approximately 38.7 percent of Ithaca's share capital.

On the cadet segment, Banca Generali gives up 0.7 percent after it reported Thursday that it closed September with net inflows of EUR310 million, bringing its total since the beginning of the year to EUR4.7 billion.

The flow mix confirmed the steady improvement in the quality of inflows that has been underway for several months, showing a strong acceleration in demand for investment products and services driven in particular by EUR216 million managed solutions in the month and EUR1.5 billion since the beginning of the year, up 73 percent year-on-year.

Brembo gives up 1.9 percent. The company announced Wednesday that it had completed the sale of its entire stake in ordinary shares in Pirelli & C. -- down 0.4 percent on the Mib -- through the accelerated bookbuilding procedure.

The selling shareholder announced that it had sold to institutional investors 55.8 million ordinary shares held in Pirelli, corresponding to approximately 5.6 percent of the company's share capital as of the date of this announcement, at a price of EUR5.07 per share.

The total consideration was EUR282.9 million.

Among the smallcaps, BF--green by1.0%--reported that its subsidiary SIS Società Italiana Sementi had signed contracts to purchase the stake representing 69.5% of the share capital of Kaiima Sementes.

Kaiima is a Brazilian company engaged in the genetics, production, and sale of castor seeds, which in 2023 had revenues of EUR5.1 million and Ebitda of EUR1.6 million.

TXT e-Solutions gives up 0.7 percent. The company on Wednesday informed that a contract was signed to acquire 100 percent of the capital of Focus PLM.

TXT will consolidate results as of Oct. 1, 2024.

The selling shareholders, who are currently directors and managers of Focus PLM, will remain with the company, and the share acquisition agreement includes retention, claw-back, and earn-out clauses in their favor with maturities distributed from the date of approval of Focus PLM's 2024 financial statements until the date of approval of Focus PLM's financial statements ending Dec. 31, 2026.

Banco Di Desio e della Brianza gives up 2.6 percent. The company announced Tuesday that it has successfully completed the placement of its first "green" qualified Senior Preferred bond, consistent with the group's Green Bond Framework, for a total amount of EUR40 million.

Among SMEs, Ilpra rises 3.7 percent after announcing Thursday that it has finalized the purchase of a 51 percent stake in Migliorini.

As specified in the Aug. 1 agreement, the company specifies, the transaction-which took place after the merger by incorporation of Sami Immobiliare into Migliorini-was finalized through a capital increase subscribed by Ilpra with payment of a total of EUR600,000, of which EUR546,960 was a share premium.

FOS gives up 1.7 percent after it announced Thursday that it had joined the temporary grouping of companies led by Exprivia to execute the Consip tender, awarded in early September for the awarding of "Framework Agreements related to Application Services in Cloud optics and Demand and PMO Services for Local Public Administrations."

The total value of the tender is EUR1.5 billion, and the framework agreement will run for 24 months, with the possibility of extension for an additional 12 months. The share allocated to FOS is 4 percent of the total amount, or about EUR60 million.

Nusco rises 5.5 percent. The company announced Thursday that it has been admitted to the benefits of Decree 183 of the Ministry of Enterprise and Made in Italy, thus obtaining EUR2 million in non-repayable funds and EUR1.7 million in subsidized financing.

In New York, the Dow is in the red 0.6 percent to 42,957.00, the Nasdaq is down 0.2 percent to 17,884.68, and the S&P 500 is down 0.3 percent to 5,691.76.

Among currencies, the euro changes hands at USD1.1014 versus USD1.1045 in Wednesday's European equities close while the pound is worth USD1.3110 from USD1.3269 last night.

Among commodities, Brent crude is trading slightly higher at USD76.67 per barrel versus USD74.04 per barrel at Wednesday's European stock close. Gold, on the other hand, trades at USD2,670.85 an ounce from USD2,649.67 an ounce last night.

Friday's macroeconomic calendar, with the Chinese stock market not trading due to a national holiday, opens at 0745 CEST with Switzerland's seasonally adjusted unemployment rate.

At 0900 CEST, Spain's industrial production figure is expected, while at 0930 CEST come the PMI indices for the construction sector among Italy, the Eurozone, France and Germany.

Fifteen minutes later it is the turn of French industrial production.

At 1000 CEST the Italian public deficit is published, while two hours later retail sales also in Italy.

In the afternoon, at 1430 CEST, the US unemployment rate is published.

Among companies listed on the Italian Stock Exchange, no particular announcements are expected.

By Claudia Cavaliere, Alliance News reporter

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