(Alliance News) - Piazza Affari opens slightly depressed in Wednesday's session, with investors digesting US and UK inflation data and awaiting Eurozone Gross Domestic Product.
The annual inflation rate in the UK remained stable last month, falling short of expectations of an acceleration, official numbers released Wednesday showed.
According to the Office for National Statistics, the annual consumer price inflation rate remained stable at 4.0 percent in January, the level at which it stood in December.
According to the consensus cited by FXStreet, it was expected to rise to 4.2 percent.
In January, consumer prices fell 0.6 percent from December. According to FXStreet, they were expected to decline at a lower monthly pace of 0.3 percent. In December, prices were up 0.4 percent from November.
The FTSE Mib opened down 0.1 percent to 31,115.51, the Mid-Cap is up slightly to 45,119.28, the Small-Cap rises 0.1 percent to 27,459.04, and Italy Growth gives up 0.1 percent to 8,086.03.
In Europe, London's FTSE 100 is up 0.5 percent to 7,551.66, Paris' CAC 40 falls 0.1 percent to 7,617.81 and Frankfurt's DAX 40 is just below par at 16,875.38.
On the Mib, Leonardo opens higher and leads the Piazza Affari gainers, with a 3.7 percent gain that takes the shares just below EUR18.
Also doing well are Nexi, up 2.2%, and Brunello Cucinelli, which gains 1.4%.
On the other side of Milan's highest-capitalization basket, Campari gives up 1.0% and sits at the bottom while news of the resumption of production in Australia after the January crash did not lend a big hand to Saipem, now down 0.8%.
On the Mid-Cap, Industrie De Nora opens up 1.0 percent shortly after reporting that it ended 2023 with revenues of EUR856 million compared to EUR853 million in the previous year.
This development mainly reflects the growth reported by the Energy Transition business segment of 140% year-on-year, more than tripling the GW of technologies realized, the growth of the Water Technologies Systems product line of 17%, and the substantial stability of the Electrode Technologies Business segment -- up 2% at constant exchange rates --, which more than offset the normalization of the Pools line.
Net income rose to EUR230 million from EUR90 million, and the development mainly reflects a total nonrecurring income of EUR133 million, related to the listing of the associated company thyssenkrupp nucera on the Frankfurt Stock Exchange and in particular due to the reduction of De Nora's percentage shareholding in thyssenkrupp nucera and the gain from the exercise of the greenshoe option.
MFE shares did well, with A shares up 2.8% and B shares up 1.9%, both leading the list.
Down, on the other hand, was Mondadori, down 2.4%, and banks, with BFF down 1.0% leading the bearish sector.
Among small-cap companies, algoWatt rises 3.9% and leads the basket after reporting that the board has approved Domenico De Marinis to join the board as an independent.
De Marinis will replace the resigning Massimo Solbiati and will also be a member of the Related Party Transactions committee.
EPH collapses with more than 12 percent down while the most heavily traded is Risanamento, with 636,268 changed hands in a few minutes and a 2.6 percent rise.
On the SME list, 4AIM Sicaf and H-Farm are flying, up 10 percent and 9.4 percent, respectively, while Illa collapses, in the red by 27 percent.
Among Asian exchanges, the Nikkei gave up 0.7 percent, the Hang Seng rose 0.8 percent while the Chinese stock exchange remained closed for holidays.
In New York, the Dow gave up 1.4 percent, the Nasdaq 1.8 percent while the S&P 500 closed down 1.4 percent.
Among currencies, the euro changed hands at USD1.0699 against USD1.0716 recorded in Tuesday's European stock close while the pound was worth USD1.2549 from USD1.2601 on Tuesday evening.
Brent crude is worth USD82.82 per barrel versus USD82.77 per barrel at Tuesday's close. Gold, meanwhile, trades at USD1,989.62 an ounce from USD1,994.39 an ounce last night.
Wednesday's calendar includes, at 1100 CET, from the Eurozone the release of the Industrial Production and Gross Domestic Product data.
At 1300 CET, from the U.S. will come the report on the mortgage market, while at 1630 CET will be the release of the crude oil stocks figure and the EIA report.
On the corporate calendar, results from EdiliziAcrobatica, eVISO, FOS, Gefran, Interpump, Svas Biosana and Telecom Italia are expected.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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