(Alliance News) - European marketplaces, according to the futures market, are leaning toward a bearish opening Wednesday, following sales on Wall Street due to fears over interest rate hikes ahead of the Fed minutes scheduled for release today.

On the possible Eccles Building path, in the CME Group platform's FedWatch Tool -- using futures also based on the actual federal funds rate, or EFFR -- the main rate hike for the March 22 meeting has a 79% probability priced into the 475/500 bps range. In contrast, the probability of an increase in the 500/525 bps area is at 21%. The current target is between 450 and 475 bps.

Among the European macro data, before the bell rang, it is mentioned how the inflation rate in Germany stood at 8.7 percent in January, the same figure recorded in December as well, as disclosed by Destatis on Wednesday. Price increases thus accelerated at the beginning of the year. "After a slowdown at the end of last year, the inflation rate remains at a high level," said Ruth Brand, president of the Federal Statistical Office. On a monthly basis, however, prices rose 1.0 percent compared to December, when consumer prices fell 0.8 percent

In the corporate world, Telecom Italia on Tuesday evening announced - with reference to the indicative, non-binding offer - that it had received a letter from KKR extending the deadline for that offer to March 24.

Specifically, according to the letter, the extension of the deadline is due to a request by the government to have an additional four weeks to conduct a joint analysis of the public aspects of the transaction concerning the powers that can be exercised by the government in the sector.

Thus, the FTSE Mib, reports a bearish path of 62.50 points, after closing 0.7 percent in the red at 27,409.34 last night.

In Europe, Paris' CAC 40 is giving up 24.00 points, London's FTSE 100 is giving up 34.30 points, and Frankfurt's DAX 40 is giving up 44.00 points.

Among Italy's smaller lists last night, the Mid-Cap gave up 0.3 percent 44,418.06, the Small-Cap fell back 0.5 percent to 30,021.96, and Italy Growth closed 0.5 percent in the red at 9,571.44.

On the main list in Piazza Affari on Tuesday evening, Banca Generali gave up 1.8 percent to EUR32.55. Of note, Citadel Advisors revised its short position on the stock to 0.7% from 0.69% previously.

Stellantis gave up 1.7 percent. As data from ACEA, the European Automobile Manufacturers' Association, showed Tuesday, the merged PSA Groupe and Fiat Chrysler Automobiles giant posted a 0.2% drop in sales in January having registered 156,553 cars compared to 156,807 in January 2021, with market share falling to 17.2% from 19.1%. The shares were taken over at an average unit price of EUR2.5146, for a total value of EUR217.4 million.

Recordati's board of directors -- down 1.2% -- reviewed and approved preliminary consolidated results for fiscal year 2022, which closed with net income of EUR312.3 million, down 19% from 2021.

Campari Group gave up 1.0 percent. The company reported Tuesday that it ended 2022 with double-digit year-on-year sales and profit growth. The company's sales rose 24 percent year-on-year in the last fiscal year, to EUR2.70 billion from EUR2.17 billion a year earlier. Net income rose to EUR333.0 million from EUR284.8 million, up 17 percent year-on-year, while the adjusted figure marks a 26 percent increase, to EUR387.8 million from EUR307.9 million.

Among the positive notes, the segment's minority, Leonardo closed up 2.3 percent to EUR10.46, following eve's red with 2.2 percent. Earlier in the day, the stock came from eight sessions in a row on the bullish side.

On the Mid-Cap, Carel Industries--up 1.8 percent--reported Tuesday that it had signed a binding agreement to take over the entire capital of Eurotec, a distributor and systems integrator based in Auckland, New Zealand.

Banca Popolare di Sondrio, meanwhile, rallied 1.3 percent to EUR4.48 per share. Deutsche Bank raised its target price on the stock to EUR5.40 from the previous EUR4.50.

Antares Vision, on the other hand, gave up 3.7 percent despite viewing preliminary consolidated results for fiscal year 2022, which closed with revenues of about EUR224 million, in line with guidance and up about 25 percent year-on-year.

Red also for Monte dei Paschi, which contracted 2.8 percent, after three sessions ended higher.

On the Small-Cap, Mondo TV closed up 11 percent. The company announced Tuesday that it had issued the last two bonds of the tranche related to Atlas Capital Markets' investment, which, at the same time, requested the conversion of the last four bonds of the 28 issued between May and February this year. The conversion price was EUR0.4040 and, therefore, the bonds being converted entitle Atlas to subscribe for 2.5 million Mondo TV shares, which, however, will not be issued, but given on loan by shareholders Giuliana Bertozzi and Matteo Corradi.

Landi Renzo, on the other hand, rose 1.9 percent. The stock traded as high as unusual, at about 2.7 million, compared to the three-month daily average of about 614,000.

PLC closed up 0.7 percent. On Friday, it reported that PLC System, a group company, has signed a contract with Opdenergy Italia Srl for the turnkey construction of a utility substation serving a 25 MW photovoltaic park in Contrada "La Francesca," Benevento province. The contract - signed with another specialized partner for the execution of the necessary civil works - has a total consideration of more than EUR3 million, of which about EUR2 million pertains to PLC System.

Esprinet, on the other hand, fell 5.4 percent, placing the price at EUR6.70 and marking its third session in a row in the bearish camp.

Among SMEs, Alfonsino gave up 5.3 percent to EUR1.1140 per share, with the stock repricing after eve's green with more than 9.5 percent.

High Quality Food retreated 3.9 percent to EUR1.1050. The stock on a weekly phase marks a depreciation of more than 11 percent.

Eles, on the other hand, closed 1.0% in the red. The company reported Tuesday that 2022 revenues increased 15 percent year-on-year to EUR21.9 million from EUR19 million a year earlier.

Among the bullish, minority also in this segment, Allcore led the bar ahead 6.0% with over 36,000 pieces traded against a three-month daily average of about 10,500 pieces.

In New York--on European night--as mentioned at the open, the Dow gave up 2.1 percent, the Nasdaq 2.5 percent, and the S&P 500 left 2.0 percent on the parterre.

Among Asian exchanges, the Hang Seng is giving up 0.3 percent, while the Shanghai Composite contracted 0.4 percent. The Nikkei, on the other hand, gave up 1.3 percent.

Among currencies, the euro changed hands at USD1.0657 versus USD1.0663 at Tuesday's close. By contrast, the pound is worth USD1.2109 from USD1.2116 last night.

Among commodities, Brent crude is worth USD82.60 per barrel versus USD83.02 per barrel Tuesday night. Gold, meanwhile, trades at USD1,835.37 an ounce from USD1,834.09 an ounce at Tuesday's close.

On Wednesday's economic calendar, the inflation figure from Italy is due at 1000 CET. Also expected in Italy is the auction of 6-month BOTs and 2-year CTZs at 1100 CET and 1130 CET, respectively.

In the US, at 1300 it is the turn of the mortgage rate report, while in the evening at 2000 CET the FOMC minutes will be released.

Among the companies listed in Piazza Affari, the results of Anima Holding, Eni, Eukedos, Pirelli and Stellantis are expected.

By Maurizio Carta, Alliance News reporter

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