(Alliance News) - The Mib closed in an uptrend on Wednesday, taking the point bar above the 30,700 area, as positive domestic data continued to bolster investor confidence when the Fed's monetary policy decision this evening is only a short while away.

The latest labor market report revealed an unexpected drop in the unemployment rate to 7.2 percent, while preliminary GDP data released yesterday indicated stronger-than-expected growth.

Thus, the FTSE Mib closed in the green by 0.4 percent to 30,744.24, the Mid-Cap was up 0.4 percent to 45,660.90, the Small-Cap was in the green by 0.3 percent to 27,757.52, while Italy Growth was down 0.2 percent to 8,295.77.

In Europe, Paris' CAC 40 gave up 0.3 percent, London's FTSE 100 gave up 0.5 percent, and Frankfurt's DAX 40 left 0.4 percent on the parterre.

Back in Milan, on the Mib, Telecom Italia closed up 2.2% 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 its 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 leads the price up 3.0%, on its third closed session with 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 New York, the Dow Jones is just below parity, the S&P is giving up 0.9 percent, and the Nasdaq is stepping back 1.5 percent.

Among currencies, the euro changes hands at USD1.0854 against USD1.0840 recorded in Tuesday's European stock close while the pound is worth USD1.2729 from USD1.2669 on Tuesday evening.

Brent crude is worth USD80.68 per barrel versus USD82.45 per barrel at Tuesday's close. Gold, on the other hand, trades at USD2,050.86 an ounce from USD2,032.51 an ounce Tuesday night.

On Thursday's calendar, coming at 0130 CET is Japan's manufacturing PMI and at 0245 CET China's Caixin manufacturing PMI while at 0945 CET will come Italy's, followed by Germany's and the Eurozone's 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 Maurizio Carta, Alliance News reporter

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