(Alliance News) - On Wednesday, the Mib closed bullish just below the 34,500 area, with the other financial markets equally closing in an active trend while the focus of trading desks remains ever on the path of rates by the major central banks.

As Pepperstone writes in an in-depth review, "for what is likely to be the last time in this cycle, the Governing Council is likely to leave all major ECB interest rates unchanged, thus keeping the deposit rate at a record low of 4.00 percent, the level it has been at since last September. The EUR OIS, with no surprises, anticipates almost no chance of a rate cut this month, while fully expecting the first 25 bp cut for June."

The eurozone consumer price inflation rate fell to 2.4 percent year-on-year in March, below market expectations of 2.6 percent, according to a preliminary estimate. released by Eurostat. The core rate -- which excludes volatile food and energy prices, also fell to 2.9 percent -- the lowest since February 2022 and below forecasts of 3.0 percent.

Thus, the FTSE Mib closed in the green by 0.5 percent to 34,480.87, the Mid-Cap closed in the green by 0.8 percent to 47,946.63, the Small-Cap rose 1.5 percent to 28,582.59, while Italy Growth picked up 0.4 percent to 8,119.51.

In Europe, Paris' CAC 40 advanced 0.3 percent, London's FTSE 100 closed just above par, while Frankfurt's DAX 40 closed in the green by 0.5 percent.

On the Mib, FinecoBank took the top spot, closing ahead 6.0% at EUR14.38 per share. On the stock, it is reported that JPMorgan upgraded the stock to 'overweight' from 'neutral' and raised its target price to EUR16.30 from the previous EUR13.50.

Banco BPM advanced 2.1 percent after reporting earlier in the day that rating agency Moody's Investors Service confirmed all of the bank's key investment grade ratings and assessments. Among them, the long-term deposit rating was confirmed at Baa1, the long-term senior unsecured debt rating at Baa2, and the Baseline Credit Assessment at Baa3.

Azimut Holding rose 0.9 percent after reporting Wednesday that it, through its subsidiary Azimut Alternative Capital Partners LLC, has entered into binding agreements with Petershill of Goldman Sachs Asset Management to acquire Azimut's entire stake in Kennedy Lewis Investment Management for a total of USD225 million. Azimut's initial investment in KLIM was USD60 million.

Stellantis, on a negative note, left 1.8 percent on the parterre, on its fourth bearish daily candle.

Hera -- equally among the minority of bearish performers -- gave up 1.7 percent, closing down for the third consecutive session.

On the cadet segment, Fincantieri rose 8.0% doing better than all. The stock updated its 52-week high at EUR0.7670.

Good purchases were also made on OVS, which gained 4.1%. The company announced on Tuesday that it had signed a binding investment agreement with the aim of reaching control and thus 100 percent of Goldenpoint in several stages. The agreement provides for an initial investment of EUR3 million, intended to underwrite a convertible bond and the acquisition of 3 percent of Goldenpoint's share capital. By July 31, 2025, OVS will have the option to increase to 51 percent. The remaining 49% of the share capital can be acquired by OVS through the exercise of put & call options, in a time window between August 1, 2026 and July 31, 2029.

Antares, on the other hand, rallied 4.8 percent, breaking a six-session downtrend.

Iren--which closed the listing down 3.5 percent--reported that it has signed a binding investment agreement to acquire a 50 percent stake in a NewCo, into which the operating branches of EGEA, EGEA Commercial and EGEA Production and District Heating will be transferred. The NewCo will be 50 percent owned by Iren through a EUR85 million capital increase that it will underwrite and release at the closing of the transaction, and the other 50 percent by a MidCo, whose share capital will be wholly owned by EGEA.

Technoprobe, on the other hand, gave up 2.9 percent, after the 0.5 percent green in the previous session.

Among smallcaps, Seri Industrial advanced 20 percent after reporting that it closed 2023 with a net loss of EUR6.3 million, which compares with a net loss of EUR3.4 million in 2022. However, the stock benefited from improved margins, with Ebitda rising to EUR22.9 million from EUR17.4 million.

CY4Gate - up more than 13 percent - reported on Wednesday that it had signed a contract worth more than EUR6.5 million in total for the execution of a series of projects in the defense sector with ELT Group, a leading European company in Electronic Defense for more than 70 years and a major shareholder of CY4Gate Group.

Good purchases were also made on Eurogroup Laminations-after declining 0.5 percent on the eve of the meeting-it was priced at EUR4.20 per share, up 12 percent.

Fidia, on the other hand, gave up 3.6 percent to EUR0.29. The company announced Thursday that Monica Donzelli has resigned from the company's board, where she served as a non-executive and non-independent member.

Exprivia--flat at EUR1.67--reported that its board of directors approved the plan to merge Exprivia into Abaco3.

Among SMEs, boost on Estrima, which led the price up more than 16 percent, after two sessions of declines.

SolidWorld Group climbed 8.7 percent after announcing Wednesday that its subsidiary SolidFactory has entered into a new contract with a North American player for the complete supply of an innovative line for the production of advanced technology solar panels. With this order, SolidFactory's backlog stands at EUR4.9 million at the end of March, according to unaudited company management figures.

TraWell Co rallied 0.5 percent after announcing Tuesday that it has signed a letter of intent that includes a three-month exclusive to take over a company active in traveler services in northern Europe. The target company-whose name was not disclosed by TraWell-has revenues of EUR3 million to EUR3.5 million, an adjusted Ebitda margin of 13 percent and a positive cash position.

Elsa Solutions gave up 3.6 percent, breaking a four-session downtrend.

Alfonsino, on the other hand, left 6.4 percent on the parterre, with nuvo price at EUR0.55, with recent figures showing a net loss of EUR1.4 million for 2023 compared to a net loss of EUR1.9 million in 2022.

In New York, the Dow is advancing 0.2 percent, the Nasdaq is marking plus 0.6 percent, and the S&P 500 is moving ahead 0.4 percent.

Among currencies, the euro changes hands at USD1.0829 from USD1.0765 in Tuesday's European stock close while the pound is worth USD1.2630 from USD1.2566 last night.

Among commodities, Brent crude is worth USD89.84 a barrel from USD89.05 last night while gold trades at USD2,285.30 from USD2,259.15 Tuesday night.

Thursday's economic calendar opens with services PMIs, coming in for Spain, Italy, France, Germany, Eurozna and the UK, between 0915 CET and 1030 CET.

At 1330 CET, the European Central Bank will publish the minutes of its latest monetary policy decision.

At 1430 CET, from the US, the trade balance and intial unemployment benefit claims are due.

At 1815 CET, Barkin of the FOMC will speak, followed at 2000 CET by Mester. Of note, the Chinese and Hong Kong financial exchanges will be closed for holidays.

Among the companies in the stock market, the results of Esautomotion and Poligrafici Printing are expected.

By Maurizio Carta, Alliance News reporter

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