(Alliance News) - The Mib moves higher Wednesday, taking the point bar above the 34,500 area, thanks to positive sentiment in the trading rooms ahead of the ECB's monetary policy decision, which is expected to make its first rate cut since 2016 on Thursday.

Indeed, Frankfurt is in action to begin a round of interest rate cuts -- still uncertain in number and scope -- ahead of the Federal Reserve, as inflation in the euro area has cooled faster than in the US.

"All in all, it's a pretty good combination for equities," Lilia Peytavin, portfolio strategist at Goldman Sachs in the Paris office, commented for Bloomberg. "The crucial aspect on Thursday is the ECB's new outlook for growth and inflation. We expect growth to pick up in the eurozone in the coming quarters, and this should be positive for cyclical stocks," Peytavin pointed out.

In Milan, the FTSE Mib rises 0.8 percent to 34,559.82, Mid-Cap is up 0.4 percent to 47,743.92, Small-Cap gains 0.2 percent to 29,334.97, and Italy Growth is in the green 0.1 percent to 8,187.34.

In Europe, London's FTSE 100 is up 0.1 percent, Paris' CAC 40 is up 0.5 percent, and Frankfurt's DAX 40 is up 0.6 percent.

On the Mib, Enel is advancing 2.1 percent with new price at EUR6.87 per share, after a 0.2 percent decline on the eve of the day.

A2A, on the other hand, is advancing 1.5 percent. The company reported that it has issued a EUR750 million green-use hybrid subordinated perpetual bond of proceeds. The company reported a demand of EUR2.9 billion for the issue equal to about four times the amount offered. The bond, placed at an issue price of 99.460 percent and featuring a non-call period of 5.25 years, will have a perpetual maturity and pay a fixed annual coupon of 5.000 percent until the first reset date scheduled for Sept. 11, 2029.

UniCredit gains 0.8 percent after issuing a EUR1 billion senior non-preferred bond with a maturity of four years but callable after three. In addition, the bank issued another EUR1 million senior non-preferred bond with a 10-year maturity. Both transactions are aimed at institutional investors. The issuance followed a book-building process that garnered total demand of about EUR5 billion and with more than 300 orders from investors globally.

Among the bearish-list minority, Banca Popolare di Sondrio is giving up 1.4 percent, in position for its third session to close with a bearish candle.

FinecoBank, on the other hand, is giving up 0.8 percent, following up on its previous two sessions in negative balance.

On the Mid-Cap, MFE is positioned with its Class A shares leading the list, rising 2.5 percent to EUR3.25. This share class has risen more than 38 percent since the beginning of the year, with a 30-day VWAP of EUR3.05.

Strength also on Philogen, which advances 2.4 percent to EUR21.00 per share, after 4.7 percent on eve. The stock had previously come from seven sessions in a row with a bullish candle.

Piaggio, on the other hand, marks a decline of 0.8%. Yesterday, the Court of Cassation declared inadmissible the appeal by Peugeot Motocycles and Peugeot Motocycles Italia against the rulings of the Court of Appeals and the Court of Milan, which had found that Piaggio had infringed a European patent in the production of the Peugeot Metropolis vehicle.

Credem - down 0.4 percent to EUR9.46 - announced Tuesday that, in connection with press reports about the business related to contracts with merchants for the management of Pos and ancillary services, after a selection process involving primary groups operating in the sector, the company granted Worldline an exclusive negotiation period.

Among the smallcaps, Eems is giving up 4.6 percent, following up on its 6.4 percent drop on the eve. There is high trading volume on the stock, at more than 356,000 pieces compared to a three-month daily average of about 119,000.

doValue, on the other hand, is contracting 2.3 percent to EUR2.26, following a 2.1 percent green in the previous session. The stock since the start of 2024 is registering a negative that is more than 33 percent, with this year's low recorded in March at EUR1.79.

Boost on Somec, which appreciates 4.5% to EUR16.20 after two sessions in a downtrend. The stock-which paid its last dividend in 2022-signs a minus 43% since the beginning of the year.

For Seri Industrial, on the other hand, the gain is 9.1 percent, after a 2.3 percent decline in the previous session.

Among SMEs, Emma Villas moves up 6.6 percent, heading for the third session to close in surplus.

For iVision Tech, on the other hand, the rise is 4.1 percent, following up on the previous session's 3.2 percent gain.

Elsa Solutions is giving ground with 4.4 percent, veering downward after two sessions of appreciation.

In New York at Tuesday's close, the Dow gained 0.4 percent to 38,711.29, the Nasdaq rose 0.2 percent to 16,857.05, and the S&P 500 was up 0.2 percent to 5,291.34.

Among currencies, the euro changed hands at USD1.0868 from USD1.0879 on Tuesday in closing European equities while the pound was worth USD1.2771 from USD1.2782 last night.

Among commodities, Brent crude is trading at USD77.36 per barrel from USD77.10 per barrel at Tuesday's close. Gold, on the other hand, trades at USD2,331.67 from USD2,325.84 an ounce from USD2,341.10 an ounce on Monday evening.

On Wednesday's macroeconomic calendar, at 1300 CEST, the US mortgage market report is expected while at 1415 CEST will come the nonfarm employment report, followed at 1545 CEST by the US services PMI.

At 1630 CEST, the oil stocks report, the Cushing inventory and the EIA report will be released.

By Maurizio Carta, Alliance News reporter

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