(Alliance News) - On Thursday, major European stock markets are expected to be in negative territory on a morning full of cues on the macroeconomic front and as markets begin to digest last night's Fed decision.

Thus, IG futures give the FTSE Mib in the red by 0.7 percent or down 230.0 points, after closing in the green by 0.4 percent at 30,744.24.

Paris' CAC 40 is expected down 0.9 percent or down 66.0 points, Frankfurt's DAX 40 is given in the red 0.6 percent or down 102.5 points, and London's FTSE 100 is expected down 37.7 points or down 0.5 percent.

Among other listings in Milan on Wednesday, Mid-Cap is up 0.4 percent to 45,660.90, Small-Cap is in the green 0.3 percent to 27,757.52, while Italy Growth is down 0.2 percent to 8,295.77.

In macroeconomic news, for the fourth consecutive meeting, the U.S. Federal Reserve kept interest rates at 23-year highs, with the benchmark federal funds rate in a range of 5.25 percent to 5.5 percent.

Fed officials suspended interest rate hikes in September after a series of 11 increases since March 2022. Officials said recent indicators suggest that economic activity has been expanding at a robust pace.

Job growth has moderated since the beginning of last year but remains strong, and the unemployment rate has remained low. Inflation has eased over the past year, but remains high. The central bank added that it does not expect it will be appropriate to reduce the target range for the rate until it gains more confidence that inflation is moving sustainably toward 2 percent.

Back in Piazza Affari, on the Mib, Telecom Italia closed up 2.2 percent at EUR0.27, after two sessions ended in the red.

Hera, on the other hand, advanced 1.8 percent, with new price at EUR3.27, raising its head after two sessions closed down.

Banco BPM, on the other hand, rose 1.5 percent, following up eve's green with 3.1 percent.

Saipem closed up 0.7 percent, with new price at EUR1.33. Of note, Citadel Advisors, Marshall Wace, PDT Partners and Voleon Capital Management all increased their short position on the stock.

Among the bearish, Pirelli's decline was notable, closing down 1.9 percent, in its third bearish session.

STMicroelectronics, on the other hand, closed down 0.5 percent, after 0.4 percent green on the eve.

On the Mid-Cap, Salvatore Ferragamo rose 1.3 percent. In recent days it reported preliminary results for 2023, with revenues coming in at EUR1.16 billion from EUR1.25 billion in the previous year and therefore down 7.6 percent.

Industrie de Nora, on the other hand, closed up 5.2 percent, with price at EUR14.62 after two sessions closed in the red.

Mutuionline gave up 3.2 percent, with new price at EUR31.90 per share. The company, which is continuing its buyback program on a regular basis, most recently reported that it has purchased its own ordinary shares on a weekly basis for a total value of EUR163,000 or so.

d'Amico, on the other hand, left 3.0 percent on the parterre, following the 0.7 percent decline on the eve of the day.

On the Small-Cap, Safilo Group gained 10 percent after reporting preliminary net sales of EUR238.7 million in the last quarter of 2023 from EUR245.4 million in the same period of 2022, representing growth of 1.7 percent at constant exchange rates and a decline of 2.7 percent at current exchange rates, and 3.3 percent net of sales in the former GrandVision chains. For the full year, preliminary net sales amounted to EUR1.02 billion down from EUR1.08 billion in 2022.

Geox, on the other hand, rallied 5.3 percent, priced at EUR0.75, on the eve of the release of its accounts.

Purchases also on Banca Sistema, which led the price up 3.0%, in its third session closed with a bullish candle.

Elica - up 0.9% - announced Tuesday that it has signed a partnership with the Ducati racing team, ahead of the start of the 2024 MotoGP world championship.

Biesse - flat at EUR12.18 - on Monday announced that, as the conditions precedent stipulated in the acquisition agreement had been fulfilled, the acquisition of the entire share capital of GMM Finance Srl, the holding company at the head of the GMM Group to which GMM Spa, Bavelloni Spa and Techni Waterjet Ltd, as well as their respective Italian and foreign subsidiaries, active in the sectors of machine tools for processing stone, glass and other materials, belonged.

Among the bearish, rear-ended Fidia, which left 6.8 percent on the parterre with new price at EUR0.43 per share, in its fourth bearish session.

Antares, on the other hand, gave up 2.7 percent after a 2.5 percent green in the previous session.

Among SMEs, Health Italia closed bullish by 5.0%, in its third consecutive bullish trending session.

Elsa Solutions, on the other hand, rallied 4.2%, in its third bullish session.

Comal - flat at EUR3.71 - on Wednesday disclosed that it has signed a nearly EUR3.0 million contract for the turnkey EPC-M formula supply of a photovoltaic plant in southern Italy.

TraWell Co gained 1.5 percent. The company on Tuesday announced that it has been awarded a contract to provide baggage protection services at the New Jorge Chavez International Airport in Lima, Peru for seven years. Trawell Co. operates through its wholly owned subsidiary Safe Bag Latam Peru, the provision of its integrated traveler assistance services at the existing international terminal in Lima until December 2024.

Sia -- in the red by 9.6 percent -- announced Wednesday the start of its rebranding journey, which, it points out in a note, reflects "dedication to innovation, excellence and continuous evolution." That path will involve the brand's visual image, logo, website in the works, and the image with which La Sia is present on social media.

Visibilia, on the other hand, gave up 5.7 percent, in its fourth bearish session.

In Asia, the Nikkei closed in the red 0.8 percent to 36,011.46, while the Hang Seng was in the green 0.4 percent to 15,551.65 and the Shanghai Composite gave up 0.6 percent to 2,770.74.

In New York on Wednesday, the Dow Jones closed in the red 0.8 percent to 38,150.30, the S&P finished down 1.6 percent to 4,845.65, and the Nasdaq closed down 2.2 percent to 15,164.01.

Among currencies, the euro changed hands at USD1.0787 against USD1.0854 recorded in Tuesday's European equities close while the pound was worth USD1.2667 from USD1.2729 on Tuesday evening.

Brent crude is worth USD80.69 per barrel versus USD80.68 per barrel at Tuesday's close. Gold, meanwhile, trades at USD2,0650.30 an ounce from USD2,050.86 an ounce on Tuesday evening.

On Thursday's calendar, Italy's manufacturing PMI will arrive at 0945 CET, followed by Germany's and the Eurozone PMI at 1000 CET.

At 1100 CET, Italy's inflation figure is scheduled to arrive from Italy, concurrently with the Eurozone's, from where the unemployment figure will also arrive.

At 1300 CET, the BoE will announce its interest rate decision.

At 1430 CET, from the U.S., coming in at 1430 CET are the unemployment benefit claims, while at 1445 CET is a speech by ECB number one Christine Lagarde. At 1600 CET, the US ISM manufacturing index will be published, while at 2230 CET it will be the turn of the Fed's weekly balance sheet release.

On the corporate calendar, Geox's results are expected.

By Claudia Cavaliere, Alliance News reporter

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