(Alliance News) - Milan does better than all other European stock markets in mid-session Wednesday, on the eve of the European Central Bank's decision and just hours before the release of U.S. inflation data in the afternoon that will give indications of the Federal Reserve's next decisions.

The FTSE Mib picks up 0.4 percent to 34,656.64, the Mid-Cap rises 0.3 percent to 27,978.50, as does the Small-Cap to 28,497.36, and Italy Growth advances 0.6 percent to 7,827.85.

London's FTSE 100 is up slightly as is Paris' CAC 40 and Frankfurt's DAX 40.

Back in Milan, on the highest-capitalization list in Piazza Affari, Nexi is up 0.1 percent. The company announced Wednesday that it has signed, with Cassa di Risparmio di Volterra, a strategic partnership with the aim of expanding and enhancing digital payment services for its customers, both private and commercial.

AM Best reported that it has upgraded the financial strength rating of Assicurazioni Generali -- in the green by 1.3 percent -- to 'A+ Superior' from 'A Excellent' and the long-term credit rating to 'aa- Superior' from 'a+ Excellent'. The outlook remains Stable.

UniCredit rises 0.2 percent. As La Repubblica reported Wednesday, Orcel is attempting to reopen talks with Crédit Agricole, which is now taking a more cautious stance. Possible developments could include the extension of Amundi's contract on UniCredit or the purchase of branches in the event of a BPM-UniCredit merger, consolidating Crédit Agricole's position as the third banking hub in Italy. Banco BPM, meanwhile, is among the worst, giving up 0.9 percent.

Eni is up fractionally. The company said Tuesday that it is premature to speculate on the cause of the explosion at a company plant in Calenzano, in the province of Florence.

Snam, flat at EUR4.39, announced Tuesday the subscription of a new Sustainability-linked revolving credit facility for a total amount of EUR4.00 billion, with an option to increase to EUR1.10 billion.

Mediobanca Private Banking, a division of Mediobanca Group -- up 0.6 percent -- raised EUR484.0 million for an innovative real estate co-investment program, developed in collaboration with Mediobanca SGR and UBS Asset Management.

The Antitrust Authority sanctioned Hera -- up 0.3 percent -- for nearly EUR2.0 million and ComoCalor for EUR286,600 "for charging excessively high prices in the district heating sector," as specified in a press release issued by the authority.

Doing best of all is Saipem, up 3.5 percent, followed by Leonardo, which picks up 1.9 percent, and Amplifon, up 1.7 percent.

On the Mid-Cap, Rai Way rises 2.9 percent. According to rumors reported by Corriere della Sera on Wednesday, Rai is ready to bring to the board for signature the memorandum of understanding aimed at studying the aggregation between its subsidiary Rai Way and Ei Towers, the competitor owned 60% by the F2i fund and 40% by Mfe.

The topic could already be placed on the agenda of the Dec. 19 board meeting or the first board meeting in 2025.

Doing better is only Comer Industries, which advances 3.0 percent.

MFE-MediaForEurope-with A and B shares up 1.5 percent and 1.2 percent, respectively-is poised to close out a golden 2024, with the highest TV profits since 2010, and remains convinced that growth is necessary to have more clout and synergies, more on revenues than costs, as La Repubblica reported Wednesday.

To that end, it has negotiated with a pool of banks EUR3.4 billion in credit lines on favorable terms -- 120 points above Euribor -- with which it will be able to finance its takeover bid on German TV, in which it already has a 29.9 percent stake.

But before venturing a bid, MFE is waiting for Prosiebensat to divest its non-strategic assets. In this regard, the Bert Habets-led group expects to divest Verivox to Multiply by the end of the year.

OVS -- up 1.2 percent -- submitted a bid to take over Conbipel, a historic clothing chain with 130 stores and about 800 employees.

Anima Holding gains 0.5 percent after Caltagirone increased its stake from 3.2 percent to 5.3 percent, consolidating Italian control over the asset management company that administers EUR205.2 billion.

Fincantieri -- in the red by 0.2% -- announced the relaunch of its Foundation with new missions, including defense of cultural heritage, innovation and social inclusion, renewing its board of directors.

On the Small-Cap, Beghelli rises 0.3% to EUR0.33 after closing up 42% yesterday. Gewiss announced Tuesday that it had entered into a preliminary purchase and sale agreement with the Beghelli family, committing to buy a 75% stake in the company's share capital.

Well Eems Italia, which remains at the top as at the opening and rises 21 percent. On the other side of the list, Fidia gives up 5.8 percent while KME Group is 2.7 percent in the red.

Among SMEs, Sicily by Car rose 16 percent before being suspended for excess volatility. The company reported Tuesday evening that it had revenues of EUR101.7 million for the first nine months of the year, up 3.1% from EUR98.6 million in the same period of 2023.

Ebitda as of Sept. 30 amounted to EUR33.3 million, down from EUR45.3 million a year earlier.

Comal, rising 12 percent. Duferco Solar Projects announced Wednesday that it has reached an agreement to launch a takeover bid for the company.

The takeover bid -- aimed at delisting -- covers 12.8 million ordinary shares of Comal and the offer is EUR4.80 per share. Among the company's shareholders, Virtuis Solaris Srl will join with its 3.1 million shares.

In New York, the Dow closed Tuesday down 0.4 percent to 44,247.83, the Nasdaq lost 0.3 percent to 19,687.24 and the S&P 500 gave up 0.3 percent to 6,034.91.

Among currencies, the euro changed hands at USD1.0497 from USD1.0507 in Tuesday's European equities close. The pound is worth USD1.2726 versus USD1.2744 on Tuesday evening.

Among commodities, Brent crude is worth USD72.80 per barrel from USD72.05 per barrel at Tuesday's close. Gold trades at USD2,693.80 an ounce from USD2,687.65 an ounce last night.

Wednesday afternoon's economic calendar features U.S. mortgage data, due out at 1300 CET, followed by U.S. inflation, coming in at 1430 CET, the main catalyst for the week along with the European Central Bank decision, however, coming on Thursday.

At 1630 CET, focus on U.S. crude oil stocks while, at 2000 CET, the focus will shift to the last relevant data of the day, the Federal Reserve's balance sheet.

By Chiara Bruschi, Alliance News senior reporter

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