(Alliance News) - On Wednesday, European stock markets are stampeded toward a bullish opening as investors reacted without particular concern to the latest U.S. inflation report.

The data showed that the U.S. headline inflation rate unexpectedly rose to 3.2 percent in February from 3.1 percent in January while the core inflation rate slowed to 3.8 percent from 3.9 percent but was above market forecasts of 3.7 percent.

Thus, the FTSE Mib, after closing in the green by 1.3% at 33,753.12 last night, is given up 78.00 points.

In Europe, Paris' CAC 40 is expected up 20.05 points, London's FTSE 100 is indicated up 9.70 points while Frankfurt's DAX 40 is expected up 42.20 points.

In Milan last night, the Mid-Cap rallied 1.3 percent to 46,811.25, the Small-Cap closed green by 1.1 percent to 27,640.10, while the Italy Growth closed up 0.5 percent to 8,080.83.

On the Mib last night, good session for Banca Monte dei Paschi, which moves ahead 4.9% to EUR4.06, its new 52-week high.

Important boost also on BPER Banca, which rallied 3.0%, touching its new one-year high at EUR4.02 per share.

Leonardo rallied 0.8 percent after reporting its final results for 2023 and approving its business plan from 2028. In detail, the company explained that the business plan to 2028 includes total orders of EUR105 billion, total revenues of EUR95 billion and Free Operating Cash Flow doubled to EUR1.35 billion. In addition, profitability of 10 percent in 2026 and 11.5 percent in 2028 is expected, while the dividend has been proposed to be doubled to EUR0.28 per share.

Of note, Marshall Wace still raised its short on the stock to 0.63% from 0.53%.

In the red is A2A, down 0.2%. The company reported a net profit of EUR659 million in 2023, up 64 percent from the previous year when it was EUR401 million. The board resolved to propose that the ordinary shareholders' meeting approve a dividend of EUR0.0958 from EUR0.0904 in 2022.

Telecom Italia gave up 0.5 percent after the publication of a supplement to the press release and presentation of the business plan to 2026, specifying that pro forma net debt net of estimated deleverage for the Netco deal of about EUR6.1 billion as of December 31, 2023, is expected to be about EUR7.5 billion at the end of 2024.

ERG, on the other hand, gave up 1.8 percent in the wake of Monday night's 1.9 percent loss and with accounts expected later in the day.

On the cadet segment, GVS appreciated by 6.8 percent, following 4.5 percent losses on the eve. The stock had previously come from four bearish sessions.

De' Longhi -- in the money with 6.3 percent -- reported Tuesday that it closed 2023 with net income up 41 percent year-on-year to EUR250.4 million from EUR177.4 million in 2023 and to EUR108.2 million from EUR78.0 million in the fourth quarter. The board of proposed to shareholders the distribution of a dividend of EUR0.67 from EUR0.48 paid last year.

Seco brought home a 4.7 percent gain, rearing its head again after a three-session bearish mini-trend.

Salvatore Ferragamo climbed 0.5 percent after announcing Tuesday that it will rejoin Euronext's MIB ESG index, the Environmental, Social and Governance basket dedicated to Italian blue-chips that identifies the top 40 listed companies with ESG best practices, as of March 18.

Juventus FC, at the back of the pack, gave up 4.6 percent, repricing to EUR2.38 per share, after a 3.6 percent green on the eve.

For Alerion, on the other hand, the loss was 2.9 percent. The company reported Tuesday that it ended 2023 with a profit of EUR68 million, down from EUR73.2 million in 2022. Group net income was EUR66.8 million from EUR71 million in the previous year. Revenues amounted to EUR201.7 million from EUR273.7 million in 2022. Specifically, operating revenues are EUR163.9 million down from EUR263.3 million mainly due to the sharp decline in electricity prices.

Among the smallcaps, boost on Eurogroup Lamination, which appreciated 5.1 percent, after greening on the eve after the publication of good accounts for 2023. Revenues were EUR835.6 million compared to EUR851.1 million in 2022. Adusted Ebitda -- net of nonrecurring costs for the IPO, the acquisition of DS4 and for HR -- increased to EUR116.0 million from EUR103.9 million while operating income rose to EUR80.3 million from EUR77.2 million.

For Sogefi, on the other hand, the rise was 5.6 percent, following up on eve's profit, albeit by a modest 0.2 percent.

IRCE, on the other hand, advanced 3.3 percent, after a 1.3 percent decline on the eve, pending results due to be published on Friday.

Somec gave up 3.9 percent, after announcing that it had reviewed its pre-closing data for fiscal year 2023 and, as a result of that, revised downward its expectations for 2023, published last September. Specifically, the company now expects Ebitda to be below the minimum value in the previously disclosed range by about 25 percent. Net financial position, on the other hand, will be above the maximum value expected from the range by about 20 percent.

Sales, among others, also on Restart, which closed down 3.9 percent in the wake of Monday night's 0.3 percent decline.

Among SMEs, Espe rose 4.4 percent after announcing on Tuesday that it had entered into agreements with three major Independent Power Producers clients to build ground-mounted photovoltaic plants on Italian territory totaling 59 MWp or about EUR31 million.

Imprendiroma, on the other hand, rallied more than 13 percent, rearing its head again after three bearish sessions.

High Quality Food closed down 8.8 percent, on its third daily bearish candle.

Grifal, on the other hand, leaves 3.3% on the ground at EUR2.08 and updating its 52-week low at EUR2.02 per share.

In New York last night, the Dow picked up 0.6 percent, the Nasdaq is advancing 1.5 percent, and the S&P 500 is rising 1.1 percent.

In Asia, the Nikkei has given up 0.3 percent, the Hang Seng is in the fractional red, and the Shanghai Composite is marking minus 0.4 percent.

Among currencies, the euro changed hands at USD1.9030 against USD1.0916 recorded at Tuesday's European stock close, while the pound is worth USD1.2793 from USD1.2780 on Monday evening.

Brent crude is worth USD82.43 per barrel versus USD82.37 per barrel at Tuesday's close. Gold, meanwhile, trades at USD2,159.84 an ounce from USD2,164.98 an ounce on Tuesday evening.

Wednesday's macroeconomic calendar includes, from Italy, at 1000 CET, space for the three-month unemployment rate while, at 1100 CET, from the Eurozone, it will be the turn of industrial production, followed ten minutes later by an auction of three-, seven-, 15- and 30-year BTPs.

At 1200 CET, from the US, will come the mortgage market report, followed, at 1530 CET, by crude oil stocks, the EIA count and the Cushing inventory.

At 1800 CET, a 30-year Treasury bond auction is scheduled instead.

Among companies, the many results coming in include those of Avio, Cellularline, Comer Industries, Digital Bros, Eni, MARR and Snam.

By Maurizio Carta, Alliance News reporter

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