(Alliance News) - On Wednesday, European stock markets continued on a bullish path in anticipation of the final end of rate hikes by major central banks.
Indeed, trading rooms welcomed data showing that the U.K. inflation rate slowed more than expected in October due to falling energy prices. Tuesday's data also suggested a milder-than-expected inflation rate in the U.S., raising the prospect of interest rate cuts by the Federal Reserve beginning to be priced in-though just below 50 percent-from next May.
On the domestic front, Italy's annual inflation was revised further downward for October by Istat, as released by the Office for National Statistics on Wednesday. Italy's inflation slowed to 1.7 percent in October from 5.3 percent in September while Istat's preliminary estimate was 1.8 percent.
Thus, the FTSE Mib moves up 0.4 percent to 29,473.94.
In Europe, Paris's CAC 40 advances 0.5 percent, Frankfurt's DAX 40 scores a plus 0.5 percent, and London's FTSE 100 picks up 0.8 percent.
Among the smaller lists, the Mid-Cap is in green with 0.1 percent to 41,980.47, the Small-Cap picks up 1.2 percent to 25,981.04, and Italy Growth is tinged green with 0.2 percent to 7,638.18.
On the main list of Piazza Affari, ERG confirms its good start, pricing itself bullish with 3.1 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. Company guidance is still positive, however, while adjusted net debt for "continuing operations" was EUR1.41 billion, down from EUR1.52 billion since June 30.
STMicroelectronics advances 3.1%, heading for its fifth session on the bullish side.
Good buys also on Moncler, also in the highs, up 2.5 percent heading for its third bullish daily candle.
The good performance of Monte dei Paschi continues, advancing 0.5 percent bringing the price to EUR3.07 after good accounts released a few days ago. Deutsche Bank - earlier this week - increased its target price to EUR4.10 from the previous EUR3.00.
Among the bearish, Snam is giving up 0.9 percent after 3.4 percent the previous day, pricing itself at EUR4.44 per share. JP Morgan cut its target price to EUR4.60 from the previous EUR5.25.
On the cadet segment, Ferretti advances 3.2%, in its third bullish session if confirmed at the close.
Alerion, on the other hand, advances 3.9 percent, bringing its price to EUR23.95 per share after a 5.5 percent gain on the eve of the meeting.
The board of directors of Rai Way - up 2.2% - reviewed and approved the interim report for the nine months ended September 30, which closed with a net profit of EUR69.8 million, up 24% from the nine months 2022 figure, when it was EUR56.3 million.
Fincantieri -- in the black by 1.1 percent -- reported Wednesday that it closed the first nine months with revenues up to EUR5.38 billion from EUR5.32 billion in the same period last year. For the full year, Fincantieri expects revenues in line with 2022, a 5% margin and NFP almost unchanged from last year-end.
Tamburi Investment Partners -- in the money with 0.1 percent -- on Tuesday reported that it closed the nine months with a pro forma consolidated profit of EUR73.6 million from EUR119.4 million and net assets 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.
El.En., on the other hand, is giving up 3.1 percent, bringing its price to EUR9.54 after a 3.6 percent gain Tuesday night.
On the SmallCap, push on Orsero, which is up 8.1% to EUR17.14 per share, bringing the weekly growth delta over 14%.
Digital Bros pushes bringing up 4.6% with price at EUR11.93, on the heels of Tuesday's 3.6% gain.
The board of directors of Class Editori - on volatility auction after pushing above 10% - approved on Tuesday evening the consolidated supplementary periodic information as of September 30, a perid ended with a positive consolidated group net income of EUR360,000, an improvement over the loss of EUR4.10 million as of September 30, 2022. Total revenues for the first nine months of 2023 were EUR60.5 million, up EUR6.3 million from the September 30, 2022 figure.
Eurotech -- in the green by 6.0 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, Energy is ahead by more than 12 percent, having announced that it has received notice from Invitalia that it has been granted subsidies for its application for the Development Contract for the "Renewables and Batteries" strategic production chain under the National Recovery and Resilience Plan.
The award provides for 16 percent co-funding - 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.
Alfio Bardolla advances 5.9 percent to EUR2.32. High trading volume is registered on the stock, with more than 21,000 pieces poassed hands compared to a three-month gionrlaier average of about 3,700.
Among the bearish, Casta Diva marks a minus 1.5 percent after closing three sessions with bullish candle.
Deodato.Gallery, on the other hand, is giving up 6.3 percent, with price at EUR0.405. The stock in 2023 shows a negative balance of about 46 percent.
In New York on European night, the Dow closed up 1.4 percent, the Nasdaq advanced 2.4 percent, and the S&P 500 advanced 1.9 percent.
Among currencies, the euro changed hands at USD1.0854 against USD1.0858 recorded in Tuesday's European stock close while the pound was worth USD1.2461 from USD1.2482 last night.
Among commodities, Brent crude is worth USD82.37 per barrel from USD83.29 per barrel at Tuesday's close. Gold, meanwhile, trades at USD1,972.88 an ounce from USD1,964.19 an ounce last night.
On Wednesday's macroeconomic calendar, at 1300 CET from the US the mortgage report, at 1430 CET retail sales and PPI. At 1630 CET, weekly oil stocks, Cushing's inventory and the EIA report.
By Maurizio Carta, Alliance News reporter
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