(Alliance News) - Europe's major stock markets continue trading in a bearish trend on Wednesday, with the Mib tagging along with the declines placing the point bar in the 28,200 area. Trading rooms are waiting for Jerome Powell's speech - head of the U.S. Federal Reserve - which could provide further "clues" for interest rates.

Among the macro data, the consumer price inflation rate in Germany - Europe's top economy - was confirmed at 3.8 percent year-on-year in October, down sharply from 4.5 percent in the previous month, according to Wednesday's data from the Federal Statistical Office.

On the domestic side, retail sales in Italy fell 0.3 percent in September from a 0.4 percent decline in August, Istat reported Wednesday morning. Sales fell in volume by 0.6 percent. On a trend basis, retail sales rose 1.3 percent in September from 2.4 percent in August 2022. Sales fell in volume by 4.4 percent.

The FTSE Mib, therefore, moves down 0.2 percent to 28,332.31 area.

In Europe, London's FTSE 100 is giving up 0.2 percent as is Paris' CAC 40, while Frankfurt's DAX 40 is marking a 0.3 percent loss.

Among the smaller lists, the Mid-Cap is in the green by 0.1 percent at 40,040.92, the Small-Cap is in the red by 0.2 percent at 25,099.60, and Italy Growth is in the fractional red at 7,636.90.

On the main list in Piazza Affari, Recordati veers downward after a good start, marking minus 0.8 percent. The company said Tuesday that the group achieved results in the first nine months that exceeded expectations and therefore planned to exceed the 2025 revenue and profit targets set last February. As of September 30, the group reported net income at EUR304.5 million up 26 percent from EUR241.5 million in the same period of 2022. Adjusted net income amounted to EUR406.6 million from EUR355.9 million in the first nine months of 2022.

Sales also prevail on Banca Generali, which marks a minus 0.7 percent and brings the price to the EUR31.14 area.

Banca Monte Paschi Siena -- down 1.5 percent -- reported Wednesday that it returned to growth in the first nine months of the year, reporting a net profit of EUR929 million compared with a loss of EUR334 million in the same period of 2022. In the third quarter, profit stood at EUR310 million.

UniCredit -- in the 1.2% letter -- on Tuesday issued a EUR750 million senior preferred green bond with a maturity of 6 years and 3 months and the possibility of early redemption after 5 years and 3 months, aimed at institutional investors. The issuance comes following a book-building process that gathered demand for more than EUR2 billion from more than 150 investors globally.

The board of Banco BPM -- in the red by 2.1 percent -- on Tuesday approved the balance sheet and income statement as of September 30, a period that ended with a positive net profit of EUR943.4 million from EUR487.4 million in the corresponding period of 2022.

Among the bullish, list minority, FinecoBank is moving well, advancing 1.4 percent. The bank reported Tuesday that net income doubled to EUR454.2 million in the first nine months of the year compared with the same period last year, when it amounted to EUR302.7 million.

As of Sept. 30, revenues were EUR916.7 million, up 34 percent from 2022 when they were EUR684.1 million.

In the cadet segment, Technoprobe confirmed its good start, advancing 4.2 percent to EUR7.66 per share, after 1.0 percent in the eve.

Eurogroup Laminations, on the other hand, marks a plus 2.5%, heading for the third session to be chided on the bullish side.

Salcef Group, on the other hand, advances 1.3 percent to EUR23.20 per share, up 0.4 percent on the eve of the session.

Credito Emiliano, on the other hand, marks minus 3.4 percent after two sessions closed in the green.

The board of Banca Popolare di Sondrio -- down 1.3 percent -- on Tuesday approved its consolidated interim report for the nine months ended Sept. 30, which closed with a consolidated net profit of EUR348.6 million, compared with EUR151.3 million in the comparable period. This result comes from a consolidated gross profit of EUR507 million, from which taxes of EUR158.4 million must be deducted, corresponding to a tax rate of 31 percent.

Zignago Vetro - up 0.8 percent - reported Tuesday that it closed the first nine months with revenues up 18 percent year-on-year to EUR545.9 million from EUR464.3 million in the same period a year earlier. Ebitda flew to EUR168.5 million from EUR97.3 million, and operating income rose to EUR116.0 million from EUR51.9 million.

On the Small-Cap, Softlab is giving up 7.8 percent bringing the price to EUR1.54 per share and following up the previous two sessions among the bearish.

Mondo TV, on the other hand, is surrendering 8.8 percent after eve's gain of 8.0 percent.

The board of Banca Profilo -- down 1.5 percent -- on Wednesday approved the consolidated interim report on operations as of September 30, a period that ended with a net profit of EUR10.6 million, up EUR2.2 million from the result for the same period last year, when it was EUR8.4 million.

Gabetti, on the other hand, is advancing 2.5 percent after contracting 3.9 percent in Tuesday's close.

PLC, on the other hand, is marking a plus 3.9 percent with new price at EUR1.34.

Among SMEs, however, Casta Diva is advancing more than 11 percent to EUR1.27 per share, heading for its third session to close among the bullish. On Tuesday it announced that it had signed a share purchase agreement to acquire a 100 percent stake in Akita Srl-the wholly owned parent company of Akita Off Srl-one of Italy's leading commercial production houses.

GEL, on the other hand, gathers 3.3 percent to EUR1.26 per share after four sessions ended among the bearish.

Doxee, on the other hand, retreats 4.7 percent, updating its 52-week low to EUR3.68 per share.

Rear-ends also for Gibus, which gives up 2.9 percent after a 2.4 percent green on eve.

In New York on European night, the Dow rallied 0.2 percent, the S&P 0.3 percent, and the Nasdaq picked up 0.9 percent.

Among currencies, the euro changed hands at USD1.0682 against USD1.0688 recorded in Tuesday's European stock close, while the pound was worth USD1.2273 from USD1.2304 last night.

Among commodities, Brent crude is worth USD81.19 per barrel from USD82.54 per barrel at yesterday's close. Gold, meanwhile, trades at USD1,962.04 an ounce from USD1,965.78 an ounce last night.

On Wednesday's macroeconomic calendar, at 1300 CET comes the US mortgage rate, at 1515 CET a speech by Federal Reserve Chairman Powell is scheduled, and at 1630 CET are crude oil stocks, Cusghing inventory, and the EIA report.

By Maurizio Carta, Alliance News reporter

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