(Alliance News) - Piazza Affari closed higher at 34,700 Wednesday -- confirming its 2008 highs -- as investors move cautiously ahead of key economic data to be released later in the week.

Trading rooms await important inflation data from major European and U.S. economies later in the week, looking for indications of future monetary policies from the European Central Bank and the Federal Reserve.

Thus, the FTSE Mib closed in the green by 0.2 percent to 34,759.69, the Mid-Cap rose 0.5 percent to 48,231.83, the Small-Cap gained 0.6 percent to 28,469.68 while Italy Growth was up 0.1 percent to 8,085.32.

In Europe, Paris' CAC 40 rallied 0.3 percent, London's FTSE 100 closed just above par, while Frankfurt's DAX 40 rallied 0.5 percent.

On the Mib, a good session for A2A, which rose 2.3 percent, after declining 0.4 percent on the eve of the meeting.

Mediobanca, on the other hand, picked up 1.2 percent to EUR13.78, touching its new 52-week high at EUR13.85.

Hera closed up 0.5 percent the day after the release of its 2023 data. The company, in fact, reported Tuesday that it closed 2023 with a net profit of EUR417.0 million, up 12 percent from EUR372.3 million in 2022. Hera Group's 2023 revenues stood at EUR14.90 billion, down from EUR20.08 billion in 2022 or 26 percent, mainly due to the normalization of energy commodity prices and gas volumes, lower brokerage activities, and the mild weather experienced in the first part of the year.

Among the bearish was Banca Monte dei Paschi di Siena, down 1.3 percent after Italy's Ministry of Economy and Finance initiated an accelerated procedure to sell 12.5 percent of MPS on Tuesday. The Mef put 157.5 million shares of the world's oldest bank on the market, proceeding with its plan to exit the Siena-based credit institution.

Prysmian, on the other hand, gave up 2.1 percent to EUR48.68 per share, after 0.1 percent red on the eve.

On the Mid-Cap, boost on SOL, which closed ahead 4.3%. The company on Wednesday disclosed that it closed 2023 with a net profit of EUR145.7 million from EUR133.7 million as of December 31, 2022. The company also announced that it has proposed to distribute a dividend of EUR0.370 per share from EUR0.330 in 2022.

El.En. rallied 3.3 percent to EUR10.60 per share, following up 0.8 percent in the previous session.

Rai Way - up 0.6 percent - reviewed its draft individual financial statements for the year ending Dec. 31, 2023, which closed with a net profit of EUR86.7 million, up nearly 18 percent from EUR73.7 million in 2022. The board proposed the distribution of a dividend of EUR0.32 per share, up from EUR0.27 in the previous year. The company also approved the business plan to 2027, which forecasts core revenues at EUR316 million, with a CAGR in the 2023-27 period of 3.8 percent, due to the contribution of inflation and the aforementioned development initiatives.

Mondadori Editore, on the other hand, rose 2.2 percent to EUR2.31, after declining 2.2 percent on the eve.

Italian Sea Group closed down 13%. GC Holding sold all 4.6 million of the company's shares put up for sale Tuesday evening through an accelerated bookbuilding operation. The shares -- equal to 8.7 percent of the company's share capital -- were sold at a unit price of EUR10.10, for a total value of EUR46.5 million. GC Holding now holds 28.4 million shares in TISG, accounting for 53.6 percent of the latter's capital. GC Holding initiated the transaction to allow for an increase in free float and liquidity and entered into a 90-day lock-up commitment.

GVS divested instead gave up more than 14 percent. The board Tuesday approved the annual report for the year ended Dec. 31, which closed with a net profit of EUR13.6 million compared to EUR24.1 million a year earlier. Revenues were EUR424.7 million compared to EUR387.6 million in the previous year.

Among smallcaps, boost on Civitanavi Systems, which closed up more than 13 percent to EUR6.14. Honeywell International announced Wednesday its intention to take over Civitanavi Systems -- up 13 percent -- in a EUR6.30 per share cash tender offer. The company's equity value at Tuesday's close is EUR200 million. The offered price represents a 27 percent premium to the average price over the past 30 days of trading in Civitanavi, whose controlling shareholder--which holds 66 percent--has already given a commitment to divest its stake.

Aeffe rose 0.5 percent after announcing Tuesday that it had exercised the "incremental" purchase option provided in its favor to buy an additional 15 percent of Moschino Kids. In addition, Aeffe consequently proceeded to purchase the relevant shares, at a price equal to the nominal value of EUR1,500. Moschino Kids is therefore, as of today, owned by Moschino and Altana with a 55 percent and 45 percent stake, respectively.

PLC closed flat at EUR1.78 after announcing Tuesday that it had signed an agreement with Bester New Energy Italia to build a utility substation attached to a Terna switching station.

Conafi - down 1.9 percent - reported that it closed 2023 with a consolidated net loss of EUR1.9 million from one of EUR3.4 million as of Dec. 31, 2022. Revenues stood at EUR3.0 million from EUR5.9 million in 2022.

Somec, on the other hand, left 2.1 percent on the parterre, with new price at EUR16.25 per share. The company reported Wednesday that it closed 2023 with a net loss of EUR10.4 million, which compares with a net loss of EUR500,000 in the previous year.

Among SMEs, Maps--down 2.0 percent--reported that it closed 2023 with a value of production of EUR30.2 million compared to EUR27.5 million a year earlier. Revenues rose to EUR27.5 million from EUR24.7 million, with recurring fee revenues coming in at 41.1 percent from 39.2 percent a year earlier, amounting to EUR11.0 million from EUR9.4 million.

Askoll Eva, on the other hand, picked up 7.4 percent on the eve of the release of the accounts.

Destination Italia, on the other hand, led the price up 8.2 percent, after a 1.2 percent red in the previous session, also pending the release of accounts on Thursday.

Energy gave up more than 15 percent after reporting that it ended 2023 with revenues halved to EUR63.3 million from EUR126.5 million a year earlier.

Giglio.com, on the other hand, left 8.1 percent on the parterre, with price at EUR1.70 per share. The company reported Tuesday that it closed the 2023 fiscal year with a loss, reporting a negative EUR1.7 million, but an improvement from a EUR2.3 million loss in 2022.

In New York, the Dow is picking up 0.7 percent, the Nasdaq is rising 0.2 percent, and the S&P 500 is advancing 0.4 percent.

Among currencies, the euro changes hands at USD1.0822 against USD1.0830 recorded in Tuesday's European stock close while the pound is worth USD1.2627 from USD1.2630 last night.

Among commodities, Brent crude is worth USD86.08 per barrel versus USD86.27 per barrel at Tuesday's close. Gold, on the other hand, trades at USD2,191.90 an ounce from USD2,179.14 an ounce last night.

Thursday's macroeconomic calendar features the UK current account balance at 0800 CET, along with GDP and the national house price index.

At 0955 CET, coming up is Germany's unemployment rate, followed five minutes later by Italian business and consumer confidence, as well as the Eurozone money supply figure.

Still from Italy, at 1100 CET coming in the non-EU trade balance and the producer price index at 1100 CET.

From the US, at 1330 CET, GDP and weekly unemployment claims.

At 1800 CET, coming up is the Baker Hughes drilling rig data. In the evening, at 2130 CET, the weekly balance sheet and reserves at the Federal Reserve.

Among corporations, several annual corporate reports will be forthcoming.

By Maurizio Carta, Alliance News reporter

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