(Alliance News) - European stock markets move higher Wednesday as investors await the U.S. Federal Reserve's monetary policy decision. The U.S. central bank is expected to keep interest rates stable, although markets will focus on its economic projections and Chairman Jerome Powell's remarks for clues on the possible path.

In the CME Group platform FedWatch Tool, using futures also based on the actual federal funds rate, or EFFR, the rate confirmation in the meeting later today has a 99 percent probability for the 525/550 bp range confirmation. In contrast, the 25 bps rise in the 550/575 bps target is priced at 1%.

On the economic data front, German producer prices tumbled nearly 13 percent in August, the largest drop on record, due to falling energy prices. In addition, the U.K. inflation rate unexpectedly slowed to 6.7%, the lowest since February 2022 and below the market consensus of 7.0%.

The FTSE Mib, thus, marks a 0.4 percent rise to 28,872.83 points.

The Mid-Cap is in the green by 0.4 percent at 40,800.13, the Small-Cap is up 0.2 percent at 26,336.33, while Italy Growth is just above par at 8,576.57.

In Europe, London's FTSE 100 is up 0.5 percent, Paris' CAC 40 is hovering around parity, and Frankfurt's DAX 40 is up 0.3 percent.

On the main list in Piazza Affari, Amplifon is off to a good start, advancing 3.2 percent.

DiaSorin, on the other hand, advances 1.6 percent bringing its price to EUR87.80and rearing its head after three sessions among the bearish.

Telecom Italia, on the other hand, marks a plus 1.3 percent, following up on Tuesday evening's 3.2 percent green.

Among the few bearish performers, Leonardo closes the list by giving up 1.1 percent after a 1.6 percent green on the eve.

On the cadet segment, GVS marks a plus 3.0% with price at EUR5.65 per share after the 1.6% loss on eve.

Banca Popolare di Sondrio - in the green by 1.3% - on Tuesday concluded the placement with institutional investors of a senior preferred green bond with a benchmark amount of EUR500 million and maturity of 5 years with an option for early redemption from the fourth year.

UnipolSai -- up 0.1 percent -- reported Tuesday that it bought a total of 850,000 Unipol shares between Sept. 11 and Sept. 18, for a total of EUR2.0 million.

Among the few bearish traders, PharmaNutra marks minus 1.7 percent to EUR52.10 in its third bearish session.

On the Small-Cap, Olidata marks a plus 6.3%, bringing the weekly balance to plus 45%.

Good buys also on Geox, which marks a plus 3.1% with new price at EUR.74 per share.

Tail of the list for Netweek, which gives up 3.3% after eve's gain of 2.0%.

Among SMEs, boost on Ambromobilire, which is picking up 5.3% after eve's 2.7% green.

Also trading among the best is Gibus, which with 3.5 percent up brings the price to EUR12.00.

Italian Design Brands - still flat at EUR9.91per share - on Tuesday disclosed that it has reached an agreement to acquire 51% of Turri 2k Srl, a company headed by Turri - The Italian way to beauty, a historic brand operating in high-end furniture.

Among the negative notes - in a still uneventful list - Italia Independent marks a minus 5.6 percent, subject to profit taking after three sessions of strong gains.

In New York, on Tuesday's European night, the Dow closed down 0.3 percent, while the Nasdaq fell 0.2 percent as did the S&P 500.

Among Asian exchanges, the Hang Seng is giving up 0.5 percent the Shanghai Composite left 0.5 percent on the parterre, while the Nikkei posted a minus 0.7 percent.

Among currencies, the euro changed hands at USD1.0692 versus USD1.0690 in Tuesday's European stock close, while the pound is worth USD1.2360 from USD1.2402 Tuesday evening.

Among commodities, Brent crude is worth USD93.35 per barrel versus USD95.16 per barrel at Tuesday's close. Gold, on the other hand, trades at USD1,928.87 an ounce from USD1,934.41 an ounce Tuesday evening.

Wednesday's macroeconomic calendar includes data on manufacturing in the Eurozone construction sector at 1100 CEST.

From the U.S., eyes will be on mortgages, whose data will arrive at 1300 CEST, and crude oil, with inventory numbers to be released at 1630 CEST. The day closes with the most anticipated moment, namely the Federal Reserve's decision on rates, which will be released at 2000 CEST, with a press conference by the chairman, Jerome Powell, to follow half an hour later.

Among the companies in the Piazza Affari whose accounts are expected to be released on Wednesday, worth mentioning are Mediobanca, OVS and Digital Magics, among others.

By Maurizio Carta, Alliance News reporter

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