(Alliance News) - On Wednesday, major European stock markets opened in positive territory, with the notable exception of Milan, which slipped at the opening bell. The morning session lacked significant macroeconomic drivers, as investors' attention was already fixed on the upcoming US inflation data scheduled for the afternoon.
"This week, trade-related headlines are striking an optimistic tone. US and Chinese officials have agreed on a plan to 'ease trade tensions,' a move that could revive the flow of sensitive goods between the world's two largest economies. Meanwhile, the US and Mexico appear close to finalizing a deal that would abolish the 50% tariffs on steel imports," commented Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank.
"Today's US inflation data will be crucial. Core inflation is expected to accelerate to its highest monthly pace of the year. A strong reading could dampen expectations of a dovish Federal Reserve, push the 2-year US Treasury yield above 4%, and weigh on equity sentiment. Conversely, a more moderate figure could rekindle hopes of a rate cut and support valuations."
As a result, the FTSE Mib is down 0.3% at 40,076.22, the Mid-Cap is off 0.2% at 54,536.13, the Small-Cap is hovering around parity at 31,490.95, while the Italy Growth index slips 0.1% to 8,124.46.
London's FTSE 100 is up 0.1% at 8,862.81, Paris' CAC 40 gains 0.3% to 7,823.91, while Frankfurt's DAX 40 rises 0.2% to 24,040.09.
On the macroeconomic front, Japan's annual producer price inflation rose 3.2% in May, down from a revised 4.1% increase in April and below the 3.5% consensus forecast cited by FXStreet.
Back in Milan, Azimut leads the pack, up 1.2%. The company announced Tuesday that it recorded a net inflow of EUR1.9 billion in May.
This brings the year-to-date total to EUR7.6 billion, moving the group closer to its annual target of over EUR10 billion.
STM also performs well, up 1.0%, while Leonardo rounds out the podium with a 0.5% gain, as does Iveco Group.
Leonardo, together with Nokia, announced the launch of a global partnership to provide integrated mission-critical private wireless networks aimed at public safety agencies and critical infrastructure operators in sectors such as energy and railways.
Prysmian - up 0.6% - reported Tuesday it has completed the acquisition of Channell Commercial Corporation for a base purchase price of USD950 million, subject to contractual adjustments.
The company also said it will release new annual guidance on July 31, alongside its first-half 2025 results.
Among the decliners is Nexi, down 1.5%. Banco BPM also falls, losing 1.3%.
On the Mid-Cap, Technoprobe drops 5.9%. The company announced that T-Plus Spa has completed the sale of 10 million ordinary shares it held in the company.
The shares sold represent 1.53% of the company's share capital and were placed at EUR7.00 per share, for a total value of EUR70 million.
Safilo Group - down 1.4% - announced Tuesday it has reached an agreement with Kering Eyewear for the sale of Lenti Srl, a manufacturer of sunglasses lenses and extra-optical products.
Anima Holding rises 1.2%. The company reported a particularly strong net inflow in managed savings for May, posting an increase of EUR623 million, net of Class I insurance mandates, the company specified. This result brings total assets under management to EUR205.2 billion, rising to EUR206.3 billion when including administered assets.
On the Small Cap index, Mondo TV leads, up 9.7%. Softlab also climbs, gaining 7.6%, with Risanamento up 3.4%.
At the bottom of the list is Gabetti, down 2.5%.
Among SMEs, Mare Engineering Group - flat at EUR3.81 per share - announced Tuesday its intention to launch a voluntary partial public tender and exchange offer for ordinary and multiple-vote shares of Eles - down 1.0% - representing a total of 29.99% of the voting rights exercisable at the company's meetings.
GT Talent Group - not yet traded - announced that its board of directors has decided to initiate all activities necessary to submit an application for access to negotiated crisis resolution procedures.
Eprcomunicazione loses 3.6%. The company announced Tuesday it has secured a contract worth over EUR175,000 from a major local authority for a social listening and online conversation monitoring plan.
In Asia, the Nikkei gained 0.6%, the Shanghai Composite rose 0.5%, while the Hang Seng was up 0.8%.
In New York, the Dow closed up 0.3% at 42,866.87, the Nasdaq gained 0.6% to 19,714.99, and the S&P 500 finished 0.6% higher at 6,038.81.
In currencies, the euro trades at USD1.1412 versus USD1.1426 at Tuesday's close, while the pound changes hands at USD1.3476 from USD1.3514 last night.
In commodities, Brent crude is trading at USD66.96 a barrel from USD67.71 at the previous close, while gold is valued at USD3,359.22 an ounce from USD3,327.81 at the last close.
On Wednesday's macroeconomic calendar, the German Bundesbank vice president is scheduled to speak at 1100 CEST, followed by Philip R. Lane of the European Central Bank at 1130 CEST.
From the US, focus will be on mortgage data, due at 1300 CEST, and - most importantly - consumer price data, set for release at 1430 CEST.
In the afternoon, crude oil inventory numbers will be released, and the Federal Reserve's balance sheet will be published at 2000 CEST.
Among companies listed on Piazza Affari, results from Homizy are expected.
By Claudia Cavaliere, Alliance News reporter
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