(Alliance News) - According to IG futures on Wednesday, major European stock exchanges are expected to open just above parity, with Milan just below, in the aftermath of the release of February U.S. inflation data that came in line with year-over-year expectations. As expected, inflation fell to 6.0 percent and core inflation fell from 5.6 percent to 5.5 percent.

Today, investors will keep an eye on U.S. PPI data and the Empire Manufacturing index while in Europe, the ECB "will likely stick to a 50 basis point increase" at its meeting on Thursday, according to Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank.

"The divergence between a more accommodative Fed due to U.S. banking stress and a confidently aggressive ECB could help the euro recover against the greenback, and bring the 1.10 target back in sight," the analyst concluded.

The FTSE Mib, therefore, is given in the red by 12.5 points after closing in the green by 2.4 percent at 26,800.98.

In Europe, Paris' CAC 40 is expected to open up 5.7 points, London's FTSE 100 is expected up 7.1 points while Frankfurt's DAX 40 is given up 11.5 points.

Among the smaller listings Tuesday evening, the Mid-Cap closed up 2.0 percent to 43,088.62, the Small-Cap was up 2.2 percent to 30,332.53 and Italy Growth closed in the green 1.3 percent to 9,390.93.

On the main list in Piazza Affari, Interpump Group rose 4.3% to EUR51.25 per share, rearing its head again after five sessions ended among the bearish.

Best operating result ever, rising premiums with strong boost from non-life and increased dividend. That, in a nutshell, is the 2022 of Assicurazioni Generali, which presented its accounts Tuesday. Net income improved 2.3 percent year-on-year to EUR2.91 billion from EUR2.85 billion and earnings per share rose 4.4 percent to EUR1.85 from EUR1.78. The stock closed up 3.6 percent.

JP Morgan cut its target price on FinecoBank to EUR18.20 from EUR18.60. The stock closed the session in the green 1.7 percent to EUR14.09.

Intesa Sanpaolo -- up 3.4 percent -- on Monday evening reported that it had purchased in the period from March 6 to March 10, a total of its own shares for a total value of EUR204.7 million or so.

On the cadet segment, Datalogic contracted 2.3 percent, closing for the third session in a row on the bearish side.

Reply -- up 2.8 percent -- on Tuesday announced that it had approved draft financial statements as of December 31, 2022, having reported group net income of EUR192.2 million from EUR150.7 million in the same period last year. The board also approved the distribution of a dividend of EUR1.00 per share.

OVS -- up 2.2 percent -- on Tuesday reported that it purchased -- in the period between March 7 and March 13 -- 424,453 ordinary shares, or 0.146 percent of the share capital. The average unit price was EUR2.5595 for a total value of just under EUR1.1 million or so.

MARR -- in the money with 2.7 percent -- reported Tuesday that it had reported an increase in net income in 2022, to EUR26.6 million from EUR35.1 million in the previous year. The board proposed a dividend of EUR0.38 per share from EUR0.47 a year earlier.

Leading the way was Tod's, which pushed ahead 7.0 percent in the aftermath of the release of its accounts. The company reported a consolidated result of EUR23.1 million and compares with a loss of EUR5.9 million in 2021.

On the Small-Cap, Trevi Finanziaria Industriale closed ahead 6.7 percent, after a 6.5 percent setback on the eve.

Esprinet's board of directors -- up 5.9 percent -- on Tuesday approved the consolidated financial statements as of December 31, 2022, which closed with a net profit of EUR47.3 million, up 7 percent from EUR44.1 million in 2021. The board resolved to propose to the shareholders' meeting to distribute a dividend of EUR0.54 per share, unchanged from those paid in 2022 and 2021.

Results also came in for Biesse, which stretched by 4.7 percent. In 2022, the company finished with a net income of EUR30.3 million, compared to EUR34.2 million in 2021, representing a net income per share of EUR1.11. The board also proposed the payment of a gross dividend of EUR0.33 per share.

Among SMEs, Comer Industries moved ahead 11 percent to EUR34.00 per share after the eve's red with 2.9 percent.

Ecosuntek closed in the green by 5.4 percent to EUR19.70 after Monday's 3.1 percent red at the close.

Unidata--flat at EUR39.20--reported Tuesday that it had reviewed and approved its draft financial statements for the year to Dec. 31, 2022, reporting a profit of EUR7.5 million from EUR7.8 million in the same period a year earlier and marking a decline of 4.0 percent. The company proposed a dividend of EUR0.10 per share for a total of EUR251,075.00.

Culti Milano, on the other hand, closed in the red by 6.2 percent, with price at EUR22.70. The company announced Tuesday that it had approved its fiscal year 2022 results, having reported a consolidated net income of EUR2.3 million from EUR2.7 million as of Dec. 31, 2021. The board proposed the distribution of a dividend of EUR0.10 per share.

Among the Asian exchanges, the Nikkei closed in fractional green at 27,229.48, the Shanghai Composite up 0.6 percent to 3,263.31 while the Hang Seng picked up 1.6 percent to 19,559.01.

In New York on European night, the Dow closed in the green 1.1 percent to 32,155.40, the Nasdaq up 2.1 percent to 11,428.15 while the S&P 500 picked up 1.7 percent to 3,919.29.

Among currencies, the euro changed hands at USD versus USD1.0715 at Tuesday's close. In contrast, the pound is worth USD from USD1.2153 on Tuesday evening.

Among commodities, Brent crude is worth USD78.40 per barrel versus USD78.66 per barrel Tuesday evening. Gold, meanwhile, trades at USD1,899.87 an ounce from USD1,906.39 an ounce at Tuesday's close.

On Wednesday's economic calendar, at 0845 CET, inflation will be coming in from France, while at 1100 CET, from the Eurozone, it will be the turn of industrial production.

At 1200 CET, from the US comes the mortgage report, at 1330 CET it is the turn of the producer price index and retail sales. At 1530 CET the EIA report is released, as well as the Cushing's inventory report.

On the corporate calendar, among the many upcoming results are those of Aeffe, Brunello Cucinelli, Eurotech, I Grandi Viaggi, Saras, Snam, Tamburi, Telecom Italia, and Zignago Vetro.

By Chiara Bruschi, Alliance News reporter

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