(Alliance News) - European stock markets -- with only Milan slightly bullish -- moved lower Wednesday, taking a breather after recent gains in the previous two sessions, as they awaited further clues on the macro data side.

On the macro data side, the current account for the Eurozone posted a surplus of EUR39 billion in April, up from EUR36 billion in the previous month, as reported by the European Central Bank on Wednesday. The current account surplus was EUR337 billion -- 2.3 percent of eurozone GDP -- in the 12 months to April, after a deficit of EUR53 billion a year earlier.

British inflation slowed to 2 percent, as expected, but services inflation remained stable. The Bank of England will decide on monetary policy tomorrow, with traders ready for confirmation of the main rate at 5.25%, the highest in 16 years.

The FTSE Mib, thus, is moving up 0.1 percent to 33,336.16 points.

In Europe, London's FTSE 100 is giving up 0.1 percent, Paris' CAC 40 is giving up 0.5 percent, and Frankfurt's DAX 40 is stepping back 0.3 percent.

Among the smaller lists, the Mid-Cap is giving up 0.4 percent to 47,033.86, the Small-Cap is rising with 0.2 percent to 28,648.61, while Italy Growth is in the green by 0.2 percent to 8,090.71.

On the blue chip list, good session for Stellantis, which moves ahead 0.7 percent, on its third session with a bullish candle.

Also good start for Eni, which scores a plus 1.1 percent, following up the previous two sessions in the green.

Enel, on the other hand, is giving up 0.2 percent. Enel Finance International -- a financial subsidiary of Enel -- announced Wednesday that it has launched a multi-tranche "Sustainability-Linked Bond" aimed at institutional investors in the U.S. and international markets for a total amount of USD2 billion. The issuance, guaranteed by Enel, has received oversubscribed applications about 3 times, totaling total orders of about USD5.6 billion. Proceeds from the issue are expected to be used to finance the group's ordinary needs, including refinancing maturing debt.

Brunello Cucinelli, on the other hand, is giving up 0.6 percent, heading for the fifth session to close in a downtrend.

Campari -- down 1.0 percent -- on Tuesday reported that it successfully placed an unrated 7-year bond aimed at institutional investors only. The offering concerns a bond that has a total nominal amount of EUR220 million and matures on June 25, 2031, and pays a fixed annual coupon of 4.256 percent. The company let it be known that the bonds will be issued at an issue price equal to 100 percent of par value.

On the mid-cap, step backward for Fincantieri, which gives up 2.5 percent, following a 0.5 percent green light on the eve. The stock was previously coming off seven straight sessions with bullish candles.

Moltiply Group, on the other hand, is giving up 2.4 percent to EUR31.50 per share, following eve's 0.3 percent decline.

Saras, on the other hand, gives up 0.2% to EUR1.62 per share. After taking over the Moratti stake, Vitol launched the tender offer for the remaining shares -- about 55 percent -- of Saras not yet held. As the two companies disclosed Tuesday, Vitol will offer EUR1.60 for each of the 518.5 million shares in Saras, for a maximum outlay that could reach EUR532.9 million.

Maire--declining 0.9 percent--reported Tuesday that Kinetics Technology was awarded an EPC project by Holborn Europa Raffinerie GmbH to build a vegetable oil hydrogenation plant within the Holborn refinery in Hamburg, Germany. The plant, which will be operational in early 2027, includes the pretreatment unit, HVO unit and interconnection infrastructure with existing plants. The value of the contract is about USD400 million.

Danieli, on the other hand, advances 1.2 percent to EUR38.70. The stock during trading updated its 52-week high to EUR39.20.

On the Small-Cap, Giglio Group advances well, rising 3.6 percent to EUR0.3780 per share on the heels of Tuesday's 1.1 percent green.

Webuild, on the other hand, takes the lead, advancing 1.3% to EUR2.03 per share, in its third bullish session.

Sogefi, meanwhile, advances 5.7 percent to EUR3.17 per share, in position for its third bullish session. The company announced that the board of directors has resolved to propose to the July 18 shareholders' meeting the distribution of an extraordinary unit dividend of EUR0.923, before withholding taxes, for each of the outstanding shares with the exclusion of treasury shares held on the record date, for a total estimated amount of EUR110 million.

Aedes, on the other hand, gives up 5.7 percent to EUR0.2320 per share, after two sessions in which it rallied about 14 percent.

Among SMEs, boost on Comal, which moves up 5.9%, in its third bullish session.

Aton Green Storage advances 7.6%, pointing to its 12th daily bullish candle.

At the tail end, Alfonsino is giving up 4.6 percent, on its fifth bearish session.

In New York on European night, the Dow rallied 0.2 percent, the Nasdaq closed just above par, and the S&P 500 rose 0.3 percent.

Among Asian exchanges, the Nikkei rallied 0.2 percent, the Shanghai Composite gave up 0.4 percent, while the Hang Seng rallied 0.4 percent.

Among currencies, the euro changed hands to USD1.0736 from USD1.0747 on Tuesday in closing European equities while the pound was worth USD1.2731 from USD1.2708 on Tuesday evening.

Among commodities, Brent crude trades at USD85.14 per barrel from USD84.77 per barrel at Tuesday's close. Gold, on the other hand, trades at USD2,328.78 an ounce from USD2,323.46 last night.

Wednesday's macroeconomic calendar includes 30-year mortgage rate data from the US on a day that will see US stock markets closed for Juneeteth.

By Maurizio Carta, Alliance News reporter

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