(Alliance News) - European stock markets continued down Wednesday. Market sentiment was hit by weak industrial activity in China, which raised fears of a potential global slowdown. Wall Street closed mixed after reopening after three days. The Dow Jones Industrial Average closed down 0.2 percent, the S&P 500 flat and the Nasdaq Composite up 0.3 percent.

In addition, investors remained cautious because of continued concerns about the debt ceiling debate in Washington. The deal negotiated by President Joe Biden and House Speaker Kevin McCarthy successfully passed its first parliamentary passage, and is now set to be debated Wednesday in the House of Representatives.

On the domestic front, Italian inflation slowed sharply year-on-year in May, thanks to a slowdown in unregulated energy prices, Istat reported Wednesday. Consumer prices in Italy rose 7.6 percent year-on-year in May after rising 8.2 percent in the previous month. The market had expected an acceleration to 9.2 percent.

On the monetary side, CME Group platform FedWatch Tool, using futures also based on the actual federal funds rate or EFFR, has a 34 percent probability for rate confirmation at the June 14 meeting in the 500/525 bps range. In contrast, the 25 bps rise in the 525/550 bps target is priced at 67%.

Thus, the FTSE Mib, trades in the red by 0.5 percent at 26,455.43.

In Europe, Paris's CAC 40 contracts 0.5 percent, London's FTSE 100 gives up 0.2 percent, and Frankfurt's DAX trades minus 0.4 percent.

Among the smaller listings, the Mid-Cap is down 0.4 percent to 41,854.22, the Small-Cap is down 0.4 percent to 27,282.30, and Italy Growth is down 0.2 percent to 9,089.40.

On the main index of Piazza Affari, among the minority of bullish traders is Banca Monte dei Paschi, which scores a plus 3.7 percent.

Good8on purchases also on Unipol, which is advancing 1.0% after two sessions ended among the bearish.

Leonardo is giving up 1.3% to EUR10.31 per share, after a 1.7% decline on the eve.

Iveco Group also trails behind, posting minus 1.8% at EUR7.02 per share and trading in the red for the third session in a row.

Doing worst of all, however, is Interpump, which marks a minus 1.7 percent with price at EUR50.90, heading for its third bearish session.

On the cadet segment, Sanlorenzo is giving up 2.5% in its third session on the bearish side.

Rear-ends also for El.En., which marks a minus 2.1 percent with weekly down more than 11 percent.

Among the few bullish performers, Cembre marks a plus 1.6 percent to EUR31.60 per share after eve's 2.5 percent decline.

The head of the list, however, is for doValue, which advances with 1.1% setting the new price at EUR4.20.

On the Small-Cap segment, boost on Mondo TV, which moves ahead 4.2% to EUR0.4220 on the heels of eve's red 0.5%.

Also ahead is Conafi, which scores a 3.5% green at EUR0.3570, pointing the nose toward the third session to close on the bullish side.

In red, also the dominant color on this list, CSP International marks a minus 3.2 percent at EUR0.3600 per share, placing itself in the rear.

Gequity, on the other hand, gives up 5.2 percent. It should be mentioned that the shares are worth EUR0.0110 with an annual volatility of 58.

Among SMEs, Eles, on the other hand, rises 6.9 percent to EUR1.62 per share, following a 3.5 percent decline in the previous session.

Culti Milano, on the other hand, advances 4.4 percent to EUR21.40 after two sessions ended in the negative.

The board of H-Farm -- up 2.0 percent -- Tuesday evening approved the half-year report as of Feb. 28, with a consolidated loss of EUR3.3 million compared to EUR17.7 million a year earlier in the same period. Consolidated management production value for the 6 months was EUR18.5 million with a negative management Ebitda of EUR2.3 million. In contrast, the previous year was EUR45.1 million.

Among currencies, the euro changed hands at USD1.0672 against USD1.0723 at Tuesday's European stock close. In contrast, the pound is worth USD1.2360 from USD1.2407 on Monday evening.

Among commodities, Brent crude is worth USD73.41 per barrel versus USD74.27 per barrel last night. Gold, on the other hand, trades at USD1,957.92 an ounce from USD1,961.39 an ounce Tuesday night.

On Wednesday's macroeconomic calendar, at 1300 CEST, focus on U.S. mortgage rates and applications, at 1600 CEST on new jobs JOLTs, and at 2230 CEST on weekly oil stocks.

Among the companies in the Square of Business, the results of MeglioQuesto are expected.

By Maurizio Carta, Alliance News reporter

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