(Alliance News) - European stock markets are set for a cautious opening Wednesday, with listings around the parity line and investors expressing caution as they assess the outlook for the economy, inflation and interest rates on a global scale.

The FTSE Mib, according to IG futures, is showing a trend just above par, after closing Tuesday down 1.0 percent at 28,098.88.

In Europe, London's FTSE 100 is down 14.50 points, Paris' CAC 40 is up 9.30 points, and Frankfurt's DAX 40 is in the fractional red.

Among the smaller lists last night, the Mid-Cap fell 1.5 percent to 38,936.73, the Small-Cap gave up 0.7 percent to 25,596.21, and Italy Growth finished 1.1 percent in the red at 8,358.38.

On the main list in Piazza Affari last night, Banca Generali did well, up 0.5% to EUR33.64 after three bearish sessions.

Iveco Group reverses course, closing 0.9% in the red after a positive start.

UniCredit--down 2.4%--reported Tuesday that it purchased 4.3 million of its own shares between Sept. 18 and 22. The shares were taken over at an average price of EUR22.6367 for a total value of EUR98.2 million.

Price target cut for Nexi, with Goldman Sachs raising it to EUR9.00 from the previous EUR10.00. The shares give up 2.8 percent to EUR5.7140.

On the Mid-Cap, good boost on OVS, which moved up 0.4% after seven straight sessions ended among the bearish.

Alerion Clean Power - up 0.8 percent - informed that it has purchased 4,250 of its own shares for a total value of EUR116,000 or so.

Tinexta, on the other hand, gave up 6.4 percent, closing at the bottom of the list.

GVS lost 3.2 percent, ending the sixth session in a row among the bearish. It should be mentioned that the board of directors on Monday approved the group's 2023-2025 economic and financial forecast. Consolidated revenues are expected to be in the range of EUR425 million to EUR430 million in fiscal year 2023, are expected to grow over the 2023-2025 period at a CAGR between 4.5 percent and 5.5 percent.

Webuild - down 1.1 percent - informed on Tuesday that it purchased - in the week of Sept. 18-22 - 275,000 of its own ordinary shares, as per its business plan. The countervalue was about EUR474,000.

On the Small-Cap, boost on algoWatt, up 11 percent after spending much of the session in the volatility auction, with shares up as much as 22 percent during the day. The stock had previously come off five bearish sessions.

In contrast, Bialetti rose 4.0%, rearing its head again after four bearish sessions.

Somec gave up 3.6 percent after two sessions closed higher.

PLC System, a subsidiary of PLC, on Monday finalized the sale of its entire stake in Idroelettrica 2014 Srl Unipersonale--owner of a hydroelectric power plant located in Località Brotano in the municipality of Pergola and San Lorenzo in Campo in the province of Pesaro-Urbino--to an operator already present in the market for hydroelectric power plants. The consideration for the sale of Hydro 2014, net of the costs of its restoration, is EUR400,000.00. The stock gained 1.7 percent.

CY4Gate, on the other hand, gave up 5.9 percent, continuing the downtrend of the previous session.

Among SMEs, strength on Agatos, which went into the volatility auction after rising more than 42 percent, the same with which it closed the session.

Sia - unchanged - reported Tuesday that its board of directors approved the half-year report as of June 30 reporting a profit of EUR241,000 up 77 percent from a net profit of EUR136,000 recorded in the first half of 2022. In addition, the backlog as of June 30 was EUR36.9 million, up 36 percent from EUR27.1 million in the same period last year.

In New York overnight Europe, the Dow closed down 1.1 percent, the Nasdaq gave up 1.6 percent, and the S&P 500 lost 1.5 percent.

Among Asian exchanges, the Nikkei posted a fractional green, the Shanghai Composite advanced 0.5 percent, and the Hang Seng floated bullishly with 0.8 percent.

Among currencies, the euro changes hands at USD1.0566 against USD1.0576 in Tuesday's closing European equities while the pound is worth USD1.2149 from USD1.2163 on Tuesday evening.

Among commodities, Brent crude is worth USD94.89 per barrel versus USD93.59 per barrel at Tuesday's close. Gold, meanwhile, trades at USD1,896.60 an ounce from USD1,903.29 an ounce last night.

Wednesday's macroeconomic calendar, at 1000 CEST, will come data on the Eurozone money supply and loans to individuals.

In the US, focus on mortgage data, at 1300 CEST, and durable goods orders data, at 1430 CEST. Crude oil stocks and refinery numbers will be released at 1630 CEST.

On the bond front, auctions of six-month Italian BOTs, 10-year German Bunds, and five-year US Treasury notes will be held.

Among the companies in Piazza Affari, the results of Bellini Nautica, Digital Bros, Relatech and Intred, among others, will be announced.

By Maurizio Carta, Alliance News senior reporter

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