(Alliance News) - The Mib continued the session above the 35,300 area on Wednesday, extending the previous session's gains, as trading rooms await the upcoming U.S. consumer inflation data, which will recalibrate expectations on the Federal Reserve's interest rate policy.

Among the morning's macro data, it is worth mentioning that industrial production in the Eurozone increased by 0.2 percent month-on-month in November, in line with the increase recorded in October but down from FxStreet's market expectations of a 0.3 percent increase.

Also worth mentioning is that Germany's GDP -- Europe's leading economy -- fell by 0.2 percent in 2024, after contracting by 0.3 percent in 2023, in line with market expectations. The data were published Wednesday by the Federal Statistical Office. The manufacturing industry recorded a significant 3.0 percent drop in output, with key sectors such as machinery and automotive declining.

Thus, the FTSE Mib advances 0.6 percent to 35,329.24 points, the Mid-Cap picks up 0.4 percent to 46,951.60, the Small-Cap rises 0.1 percent to 27,954.11, while Italy Growth is down 0.2 percent to 7,885.11 points.

In Europe, London's FTSE 100 is advancing 0.7 percent, Frankfurt's DAX 40 is green by 0.5 percent, and Paris' CAC 40 marks a green by 0.2 percent.

On the Mib, strength on Iveco Group, which moves ahead 6.3% to EUR9.93 per share, on its third bullish candle session. Of note, Marshall Wace cut its short position on the stock to 1.56% from 1.60%.

Prysmian, on the other hand, advances 2.5 percent, with price at EUR65.56, also on its third session with a bullish candle. On the stock it is mentioned that Citigroup has raised the target price to EUR73.00 from EUR69.00, with a 'buy' recommendation.

Intesa Sanpaolo - down 0.3 percent - is the first Italian bank to invest in bitcoin, buying 11 bitcoins worth USD1 million, albeit with token amounts. CEO Carlo Messina explained that this is a limited test, considering that the bank holds EUR100 billion in its securities portfolio, as Milano Finanza writes Wednesday.

Strength also on Buzzi stock, which is also seen at the top of the list with an asset of 2.3 percent, breaking a six-session downtrend.

Telecom Italia, on the other hand, marks a 0.3 percent loss. The company won a legal battle against partner Vivendi over the sale of the network to the KKR fund for EUR18.8 billion. The Milan court rejected Vivendi's appeal, which challenged TIM's board resolution on the sale, holding that it should go through the approval of the extraordinary shareholders' meeting and obtain the opinion of the related parties committee. However, the judges deemed the appeal inadmissible, as Vivendi did not show interest in calling the meeting or blocking the sale.

The tail end of the list sees Saipem giving up 2.7 percent, with price at EUR2.67, in its third bearish session.

On the Mid-Cap, Cementir Holding advances 3.4 percent to EUR10.86 per share, on its third bullish candle.

Strength on Brembo, which moves up 1.3%, rebounding after six sessions in which selling prevailed.

Alerion, meanwhile, advances 0.8% to EUR15.38 per share, also at after a long bearish streak.

MAIRE - in the green by 0.2% to EUR8.73 - on Tuesday announced that KT-Kinetics Technology, backed by NextChem's technological know-how, has been awarded by Pengerang Biorefinery Sdn Bhd the licensing and engineering, procurement, construction and commissioning services for a hydrogen production unit to be located in Johor, Malaysia.

OVS and Unigross are preparing a joint bid to take over Conbipel, the financially troubled historic clothing chain that includes about one hundred stores and employees, Il Corriere della Sera wrote Wednesday. OVS would acquire the larger stores, turning them into stores with its own brands, while Unigross would take over the smaller ones. OVS stock is advancing 0.4 percent.

Safilo Group -- down 0.9 percent -- announced Tuesday the renewal of its global design license agreement with sportswear company Under Armour for the production and distribution of eyewear collections through 2031.

Among the bearish minority is BFF Bank, which scores minus 3.3 percent and continues its long bearish streak.

On the Small-Cap, strength on Bastogi, with the first Italian listed company still in business moving up 7.0% to EUR0.47 per share.

SoftLab, meanwhile, advances 5.8% to EUR0.8150, after two bearish sessions.

B&C Speakers - on a negative note of 0.9% - reported Tuesday that FY2024 consolidated revenues were EUR100.0 million, registering a 6.4% growth from EUR94.0 million in FY2023, according to preliminary data.

In contrast, Eems is giving up 4.1 percent, after two bearish sessions and updating its price to EUR0.18 per share.

Among SMEs, Innovatec is in the red by 2.7 percent at EUR0.2870, in position for the seventh bearish session.

Sicily by Car still does not trade at EUR4.20. The company announced Tuesday the start of operations of subsidiary Sicily by Car Spain with the opening of a branch at Ibiza's San Jose International Airport.

Gibus - flat at EUR8.98 - announced Tuesday that its board of directors approved consolidated operating revenues as of December 31, which came in at EUR84.6 million, down 7.4 percent from EUR91.4 million in 2023.

Strength on Health Italia, which moved ahead 2.9% to EUR140.00, placing it at the top of the segment dedicated to SMEs.

In New York last night, the Dow advanced 0.2%, the Nasdaq closed in the red by 0.2%, and the S&P 500 in the green by 0.1%.

Among currencies, the euro changed hands at USD1.0303 against USD1.0290 at Tuesday's European equities close. In contrast, the pound is worth USD1.2227 from USD1.2186 last night.

Among commodities, boost on oil with Brent crude worth USD80.10 per barrel from USD79.96 per barrel at Tuesday's European stock close. Gold trades at USD2,688.50 an ounce from USD2,673.33 an ounce Tuesday evening.

Wednesday's economic calendar includes the release of US mortgage data in the afternoon at 1300 CET while the consumer price index is due at 1430 CET.

At 1630 CET, also from the US, crude oil stocks will be released.

By Maurizio Carta, Alliance News reporter

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