(Alliance News) - Piazza Affari moves in a bearish trend in the second session of the week, settling back into the 34,000-point area as caution appears to prevail on trading desks ahead of key events such as the release of U.S. inflation data and the European Central Bank meeting scheduled for Thursday.

The Eurotower is expected to confirm current interest rates, prompting traders to scrutinize any hints that suggest a potential 25 basis point rate cut in June. Currently, investors see a 90 percent probability that Frankfurt will cut rates by 25 basis points at its June meeting, with three such cuts fully priced in for 2024.

Thus, the FTSE Mib trades down 0.9 percent at 34,007.76 points while put/call volumes indicate a ratio of 1.15.

In Europe, London's FTSE 100 is advancing 0.1 percent, Frankfurt's DAX 40 is giving up 0.7 percent while Paris' CAC 40 marks minus 0.6 percent.

Among the smaller listings, the Mid-Cap is giving up 0.2% to 47,849.20, the Small-Cap is fractionally giving up 28,508.34 and Italy Growth is giving up 0.2% to 8,128.27.

On the Mib, DiaSorin confirms a good opening, marking a plus 2.1% with new price at EUR87.54 per share. UBS has initiated coverage on the stock with a 'buy' recommendation and target price of EUR105.00.

Also advancing well is Saipem, which is up 1.5 percent to EUR2.25 per share. Of note, Citadel Advisors Europe raised its short position on the stock to 1.33 percent from 0.96 percent previously.

Leonardo, on the other hand, gives up 4.6 percent to EUR22.61, reversing course after two bullish sessions.

Amplifon, on the other hand, is stepping back 2.9 percent to EUR31.57 per share, following a 1.9 percent green light on eve.

ERG, on the other hand, is flexing 0.3 percent. Of note, ratings agency Fitch Ratings confirmed a long-term issuer default rating of 'BBB-' for the company, with a Stable outlook, and a senior unsecured rating of 'BBB-'. Fitch pointed out that in an energy scenario characterized by increasing volatility, the rating reflects the soundness of the group's business model and portfolio.

On the MidCap, good buying on SOL, which brings the price up 3.9 percent to EUR34.50, on the heels of eve's 1.5 percent gain.

Good buying also on Banca Ifis, which moves up 3.9 percent, following up on the 0.8 percent green on the eve.

Fincantieri -- up 5.6 percent -- announced that it has received an order to build four new generation cruise ships from Norwegian Cruise Line Holdings Ltd. In detail, two ships will be for the Regent Seven Seas Cruises brand and two for Oceania Cruises. The former are expected to be delivered in 2026 and the latter in 2029.

Digital Value, on the other hand, is giving up 1.1 percent after a 1.1 percent green light on eve. The stock was previously coming off four bearish sessions.

GVS, on the other hand, is marking minus 1.3 percent. It should be noted that the stock-which came from two bullish sessions-has increased its market cap by more than 25 percent in the past six months.

On the SmallCap, Restart is advancing 3.2% to EUR0.1290. Of note, the stock is marking a 40% loss since the start of 2024.

Cairo Communication, on the other hand, is marking a plus 1.9 percent at EUR2.16 per share, following up on the eve's green closed with a plus 1.4 percent.

Piquadro - in the green by 0.5 percent to EUR1.91 - continues steadily with its buyback program. The company most recently reported Monday that it bought back its own ordinary shares between April 2 and April 5 for a total value of EUR40,000 or so.

Red for algoWatt, which steps back 7.3 percent to EUR0.2355, heading for its third bearish session.

Fiera Milano, on the other hand, gives up 6.2 percent to EUR3.85 after Monday night's 4.6 percent red.

Among SMBs, Compagnia dei Caraibi advances well, leading the price up 3.1 percent, following eve's 2.7 percent decline.

Crowdfundme, on the other hand, marks a plus 3.8%, confirming the good performance on the weekly frame marking a plus 4.8%.

CleanBnB - down 1.8% to EUR1.35 - reported that it ended the first quarter with a gross booking value of EUR6.8 million, up 37% year-on-year. In the first three months of the year, the company reached 2,642 properties, spread across 80 Italian locations and managed exclusively, while stays managed by CleanBnB increased 38 percent to 19,755 compared to the same period in 2023.

In New York, the Dow closed just below par as did the S&P, while the Nasdaq closed in marginal green.

Among currencies, the euro changed hands at USD1.0862 from USD1.0851 on Monday in European equities closing while the pound was worth USD1.2663 from USD1.2655 on Monday evening.

Among commodities, Brent crude is worth USD90.56 a barrel from USD90.09 last night and gold trades at USD2,345.63 from USD2,329.48 last night.

In the afternoon, consumer inflation expectations will be released from the US at 1700 CEST.

By Maurizio Carta, Alliance News reporter

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