(Alliance News) - Major European stock exchanges closed higher on Wednesday, with traders optimistic after the release of the latest U.S. data that further banishes speculation of central banks tightening monetary policy.

"Improving U.S. PPI and retail sales data added to the good news, helping markets around the world extend gains," commented Chris Beauchamp, chief market analyst at online trading platform IG. Investors therefore continue to hope "that there will be no further rate hikes by the Fed, with British traders also relieved by the drop in the consumer price index this morning. Overall, the skies have cleared considerably for markets, and hopes for a soft landing and improved earnings have brought flows back to equity markets," Beauchamp added.

Thus, the FTSE Mib closed up 0.4 percent to 29,466.93, the Mid-Cap in the red 0.2 percent to 41,833.67, the Small-Cap in the green 1.1 percent to 25,946.72, and Italy Growth up 0.5 percent to 7,658.98.

In Europe, Paris' CAC 40 closed up 0.4 percent, Frankfurt's DAX 40 up 0.9 percent, and London's FTSE 100 finished in the green by 0.6 percent.

On the main list in Piazza Affari, STMicroelectronics closed up 5.4 percent followed by Iveco and Saipem, up 2.8 percent and 2.5 percent.

ERG ends in the green by 0.6 percent. The company reported Tuesday that it closed the first nine months of the year with a group profit of EUR112 million, down from EUR459 million in the same period of 2022. However, the company's guidance is positive, while adjusted net debt for "continuing operations" was EUR1.41 billion, down from EUR1.52 billion since June 30.

Enel and Eni leave 0.4 percent on the parterre. On Wednesday, Italy's competition watchdog fined six energy suppliers more than EUR15 million for raising consumer prices despite a law seeking to stabilize electricity and gas bills.

The largest fines were imposed precisely on Enel - EUR10 million - and Eni - EUR5 million - "which unilaterally changed prices for more than four million consumers on the basis of contractual clauses that allow the companies to decide at their own discretion whether and when to change the tariff."

On the cadet segment, Piaggio & C. - in the red by 1.0 percent - announced on Wednesday that it had signed a EUR200 million revolving credit facility with a pool of banks with a four-year term, with an option to extend for an additional year at the company's discretion.

The board of directors of Rai Way -- up 2.9 percent -- reviewed and approved the interim report as of September 30, which closed with a net profit of EUR69.8 million, up 24 percent from the nine-month figure for 2022, when it was EUR56.3 million.

Fincantieri closes in the red by 0.9 percent. The company reported Wednesday that it closed the first nine months with revenues up to EUR5.38 billion from EUR5.32 billion in the same period a year earlier. For the full year, Fincantieri expects revenues in line with 2022, a margin of 5 percent, and NFP almost unchanged from the end of last year.

Tamburi Investment Partners -- in the red by 0.8 percent -- on Tuesday reported that it ended the nine months with a pro forma consolidated profit of EUR73.6 million from EUR119.4 million and shareholders' equity reaching EUR1.29 billion, after dividend payments of EUR21.7 million and share buybacks of EUR15.6 million. As of September 30, total revenues were EUR1.17 million from EUR1.36 million pro forma for the same period last year.

On the Small-Cap, algoWatt and Class Editori close on top with a 15 percent rise.

Class Editori's board of directors on Tuesday evening approved additional consolidated periodic information as of Sept. 30, a period that ended with a positive consolidated group net income of EUR360,000, an improvement over the loss of EUR4.10 million as of Sept. 30, 2022. Total revenues for the first nine months of 2023 were EUR60.5 million, an increase of EUR6.3 million compared to the figure as of September 30, 2022.

Caleffi - in the green by 1.6 percent - reported Wednesday that consolidated revenues in the first nine months were around EUR40.7 million, up 2.0 percent from September 30, 2022 , when they were EUR39.9 million.

Digital Bros -- in the red by 1.7 percent -- announced on Tuesday a reorganization plan, which will affect development studios more but also, to a lesser extent, publishing activities.

The reorganization plan calls for a reduction of about 30 percent in the global workforce, concentrated more in development studios.

Eurotech -- in the green by 5.8 percent -- reported Tuesday that it closed the first nine months of the year with a loss of EUR1.2 million, an improvement from a loss of EUR3.7 million in the same period last year. As of Sept. 30, revenues stood at EUR70.0 million from EUR59.8 million in 2022.

Among SMEs, Portobello closed up 60 percent and brings the price to EUR5.12.

FOS - up 0.6 percent - announced on Wednesday its EUR1.8 million investment in the research and development project "TITCO - Technologies for the Detection, Traceability and Measurability of Contaminants in Olive Oils," with the aim of applying innovative product and process technology solutions to the olive oil supply chain.

The project is led by the FOS group through the company T&G Srl, which specializes in Information and Communication Technology.

Energy ends in the green by 3.5 percent. The company has received from Invitalia the notice of grant of facilities for the application for the Development Contract of the strategic production chain "Renewables and Batteries" under the National Recovery and Resilience Plan.

The award provides for 16 percent co-financing - amounting to about EUR7.2 million, non-repayable, disbursed in SAL starting in 2024 and ending in 2026 - out of a total amount of about EUR43 million for the purpose of building the giga-factory for the production of batteries for storage systems for renewables at Energy's headquarters in Veneto.

In New York, the Dow is up 0.2 percent, the Nasdaq is in the green by 0.4 percent, and the S&P 500 advances with 0.3 percent.

Among currencies, the euro changes hands at USD1.0853 against USD1.0858 recorded at Tuesday's European stock close while the pound is worth USD1.2435 from USD1.2482 last night.

Among commodities, Brent crude is worth USD81.62 per barrel from USD83.29 per barrel at Tuesday's close. Gold, on the other hand, trades at USD1,960.48 an ounce from USD1,964.19 an ounce last night.

Thursday's macroeconomic calendar has exports from Japan and machinery orders at 0050 CET.

At 1000 CET the Italian trade balance will come out while at 1230 CET a speech by Christine Lagarde is scheduled.

In the afternoon, from the US at 1430 CET initial claims for unemployment benefits are expected and at 1515 CET US industrial production.

Among the companies listed on Piazza Affari, the results of Assicurazioni Generali, H-Farm, and MeglioQuesto are expected.

By Chiara Bruschi, Alliance News reporter

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