(Alliance News) - Piazza Affari opened up for the third session of the week in green, taking the bluechip index to the 33,500-point area after eve's 1.7 percent loss.

On the data front, the U.K. inflation rate fell to 3.2 percent year-on-year in March from 3.4 percent the previous month, but remained slightly above market expectations of 3.1 percent. This was the lowest rate since September 2021.

Last night, Federal Reserve Chairman Jerome Powell said yesterday that the U.S. economy, while strong, has not seen inflation return to the central bank's target, indicating the further unlikelihood of interest rate cuts anytime soon.

Speaking at a policy forum focused on U.S.-Canadian economic relations, Powell said that inflation, while continuing to fall, has not moved fast enough and that the current state of monetary policy should remain intact.

"The latest data show solid growth and continued strength in the labor market, but also a lack of further progress this year in returning to our 2 percent inflation target," the Fed chief said during a panel speech.

The FTSE Mib,therefore, advanced 0.4 percent green to 33,517.52.

In Europe, London's FTSE 100 is advancing just above par, Paris' CAC 40 is in the green by 0.5 percent, and Frankfurt's DAX 40 is picking up 0.2 percent.

Among the smaller listings, the Mid-Cap is giving up 0.1 percent to 46,275.12, the Small-Cap is down 0.1 percent to 27,731.92, and Italy Growth is advancing 0.3 percent to 8,031.48.

On the Mib, DiaSorin advances well, moving ahead 3.6 percent after a 0.2 percent decline on the eve.

Campari, on the other hand, advances 1.8% to EUR9.09, on the heels of the previous two bullish daily candles.

Banco BPM saw its target price increased by Deutsche Bank to EUR6.50 from EUR6.10. The stock opened trading up 1.1 percent at EUR6.20.

The same German bank also raised BPER Banca's target price to EUR4.70 from EUR4.0. The shares trade up 0.1 percent at EUR4.21.

Banca Monte dei Paschi di Siena -- in the green by 0.7 percent -- announced that it has completed the placement of a EUR750 million 5-year covered bond issue. As the company explains, this is the first European covered bond issue carried out by the bank after the transposition of the European harmonization directive on covered bonds. In detail, orders exceeded EUR2.3 billion with coupon at the 3.5 percent level and at a re-offer price of 99.919 percent.

Among the few bearish performers, ERG marks minus 0.8%, in its third bearish session.

On the MidCap, SAES Getters marks a plus 5.2%, after the 1.4% red on eve.

In contrast, d'Amico advances 2.1% to EUR6.35, turning upward after two bearish sessions.

The company announced Wednesday that its operating subsidiary, d'Amico Tankers DAC, has entered into a construction contract with Jiangsu New Yangzi Shipbuilding Co. in China for the purchase of two new 'Long Range' tankers at a contract price of USD55.4 million each.

The company expects these two new ships to be delivered in September and November 2027, respectively.

ENAV - in the green by 0.1 percent - announced on Wednesday that it has won an order worth EUR720,000 with Fiji Airports for the supply, installation, testing and commissioning of the CRONOS platform and the Aeronautical Message Handling System (AMHS), two advanced tools for aeronautical information management and exchange.

At the back of the pack, Alerion gives up 1.8 percent, after the eve's gain closed with plus 1.6 percent.

Technoprobe marks minus 2.2 percent, after eve's 0.1 percent red.

On the Small-Cap, Piovan marks a plus 3.3%, following up on the plus 0.4% of the previous session.

Bialetti, on the other hand, moves ahead 3.1%, reversing course after three sessions on the bearish side.

Eems, on the other hand, is giving up 2.9 percent, following the 0.4 percent green in the previous session.

Itway gives up 1.9% to EUR1.34 per share, heading for the third session to close on bearish candlestick.

Among SMEs, Confinvest marks a plus 5.9%, in the track for the fifth consecutive bullish session.

H-Farm, on the other hand, advances 2.9 percent, bringing the price to 0.1585.

In New York last night, the Dow closed up 0.2%, the Nasdaq gave up 0.1%, and the S&P 500 closed down 0.2%.

Among Asian exchanges, the Hang Seng marked a red 0.1 percent, the Nikkei gave up 1.3 percent, while the Shanghai Composite advanced 2.1 percent.

Among currencies, the euro changed hands at USD1.0630 from USD1.0634 in Tuesday's European stock close while the pound was worth USD1.2455 from USD1.2448 Tuesday evening.

Among commodities, Brent crude is worth USD89.53 a barrel from USD89.83 Tuesday night and gold trades at USD2,379.56 from USD2,368.01 last night.

On Wednesday's macroeconomic calendar for the Eurozone, focus on inflation, due out at 1100 CEST, while both the EU leaders' summit and the Eurogroup meeting will be held later in the day.

In the afternoon, from the U.S., will come data on the mortgage market, at 1300 CEST, before numbers on crude oil stocks, due at 1630 CEST. At 2000 CEST, the Federal Reserve's Beige Book will be released.

Among Piazza Affari companies, results from Brunello Cucinelli, MFE-MediaForEurope and OVS are expected.

By Maurizio Carta, Alliance News senior reporter

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