(Alliance News) - On Wednesday, the Mib closed in an uptrend, placing the point bar around 34,400 points after two sessions closed in negative territory, pending the FOMC decision in the evening, where markets are certain of a further 25 basis point lowering of the federal funds rate.

The move would mark the third consecutive reduction this year, bringing borrowing costs into the 4.25 percent to 4.5 percent range. However, the spotlights will be on the new economic forecast, with many investors expecting a slowdown in the pace of rate cuts in 2025.

Markets currently expect three more cuts next year, and some are speculating a pause as early as January, with the disinflation process proceeding more slowly than expected.

The FTSE Mib closed in the green 0.5 percent to 34,400.99, the Mid-Cap rose 0.3 percent to 47,491.48, the Small-Cap closed flat at 28,282.74, and Italy Growth gained 0.3 percent to 7,841.97.

Among other European exchanges, London closed just below par, Paris up 0.3 percent while Frankfurt picked up 0.1 percent.

On the Mib, STMicroelectronics closed bullish by 2.5% at EUR25.11 per share after a 0.4% gain on the eve of trading.

UniCredit ended the run in the green by 1.3%. The bank announced Wednesday that it had subscribed for new financial instruments related to Commerzbank shares, in line with its previously stated goal of reaching a stake of up to 29.9%.

UniCredit's total position now stands at about 28 percent, including 9.5 percent through direct participation and about 18.5 percent through derivative instruments.

Strength also on BPER Banca, which rose 1.4 percent to EUR6.21 per share, after a negative balance of 2.7 percent on the eve of the meeting. The bank announced, as part of the strengthening of its partnership with BlackRock announced last July, that it will expand its offering with the launch of a new Global Flexible Multi-Asset sub-fund, managed by the asset manager's Multi-Asset Strategies & Solutions Diversified Strategies team.

Iveco Bus, the city, intercity and touring bus brand of Iveco Group, has signed a five-year framework agreement with the central purchasing powerhouse BusGruppe, the consortium that includes Verkehrsbetriebe Bachstein, CeBus, KVG Stade, Omnibusbetrieb von Ahrenschildt, Pülm Reisen and Reisebüro Schmidt, to supply up to 580 city buses, 250 of them fully electric. The total value of the deal is estimated at up to EUR235 million. The stock closed up 0.9 percent.

During the roundtable talks between the Italian government and Stellantis, as reported Tuesday by ANSA, Jean-Philippe Imparato, the group's head of Europe, reiterated that the automaker's Italy plan calls for EUR2.00 billion in investments in Italian plants and EUR6.00 billion in purchases from Italian suppliers by 2025. The automaker's stock closed down 0.1 percent.

On the bearish side--in the minority on the list--Moncler closed down 1.6 percent after falling 0.1 percent on the eve.

On the Mid-Cap, strength on MAIRE, which finished up 3.1%. The company, along with newcleo Holding on Wednesday, signed an agreement to form a joint venture between MAIRE's subsidiary NextChem and newcleo to develop commercial-scale next-generation power plants based on newcleo's 200 MWe advanced modular reactor.

Carel Industries did well, posting a plus 1.7 percent, turning upward after two bearish sessions with an aggregate negative of about 7.5 percent.

In contrast, d'Amico closed up 1.9%, breaking a four-session bearish mini-trend. It should be mentioned that the company continues with its buyback plan where it most recently announced on Monday that it had purchased, in the period between December 10 and 13, treasury shares for a total consideration of about EUR250,000.

Credito Emiliano -- in the green by 1.1 percent -- on Wednesday reported that the European Central Bank informed that the banking group had largely exceeded its capital requirements. The main parameter used to measure a bank's soundness is the "Pillar 2 Requirement," which for Credem is 1 percent, is "the best in Italy and in Europe," writes the note released.

Sesa, on the other hand, gave up 4.6 percent, in its seventh bearish session, after numbers released earlier in the day showing a slight decline in profit and revenues.

On the Small-Cap, strength on Conafi, which rose 6.3 percent. The company--which has been missing the ex-dividend since 2022--moved on the heels of the eve's 5.8 percent profit balance.

Significant buying on Giglio Group, up 6.7 percent and priced at EUR0.4120 per share. It is worth mentioning that on Wednesday the company informed that it has become a member of Confagricoltura, the oldest organization representing Italian agricultural enterprises, and Consorzio Agrario Provinciale di Ancona. Together they have started ConfagriMarket, an innovative marketplace dedicated to products and equipment for the agricultural sector.

doValue -- bullish by 5.9 percent -- on Tuesday reported that all 373,020 unexercised option rights were sold, allowing about 3.25 million new shares to be subscribed. During the offering period, some 166.9 million new shares, or 98.1 percent of the total, were subscribed.

Bialetti-among the many bearish performers, on the other hand-dropped 7.0 percent, following up on the previous session's 6.2 percent loss.

Among the SMEs, strength on ISSCC Fintech, which rose more than 12 percent, continuing its bullish trend. The company announced Monday that it had finalized the purchase of a portfolio of unsecured individual and corporate NPL loans, traceable to the secondary and financial markets, with a face value of about EUR132 million. The stock consists of 6,020 positions, arising mainly from bank/financial origination contracts.

Cofle, on the other hand, rallied 8.1 percent after a 1.5 percent red in the previous session and with new price at EUR4.28.

On a negative note, among the list's many bearish performers, Ecosuntek closed down 1.2%, finishing the fifth session in a row with a bearish candle.

Compangia of the Caribbean, on the other hand, gave up 4.9 percent to EUR0.5420 as it updated a new 52-week low earlier in the day at EUR0.53 per share.

In New York, the Dow is in the green by 0.3 percent as is the Nasdaq while the S&P 500 is rising 0.2 percent.

Among currencies, the euro changes hands at USD1.0470 versus USD1.0497 at Tuesday's European stock close. The pound is worth USD1.2692 from USD1.2717 on Tuesday evening.

Among commodities, Brent crude is worth USD73.98 per barrel from USD72.83 per barrel at Tuesday's close. Gold trades at USD2,633.80 an ounce from USD2,653.46 an ounce Tuesday evening.

Thursday's macroeconomic calendar includes, at 0400 CET, the Bank of Japan's interest rate decision, with the president's press conference scheduled for 0730 CET.

At 0800 CET, from Italy, the data on car registrations, as well as from Germany and France.

At 1000 CET, from the Eurozone, space for the current account figure, while at 1300 CET it will be time for the announcement of the Bank of England's interest rate decision.

From the US, at 1430 CET, focus on GDP and jobless claims. Closing the day, at 2230 CET, is the release of the Fed's weekly balance sheet.

On the corporate calendar in Piazza Affari, however, no particular event is scheduled.

By Maurizio Carta, Alliance News reporter

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