(Alliance News) - The Milanese bluechip index moved slightly bullish to 25,400 mid-day Wednesday, in line with other European exchanges, driven by optimism over the "reopening" in China and a Fed that, through the mouths of its officials, appears less aggressive than expected.

Investors remain focused on the U.S. inflation data to be released tomorrow, which could impact the Fed's plans for its February policy meeting.

Chairman Jerome Powell offered little guidance to investors when he participated in a panel discussion in Stockholm hosted by the Swedish central bank, while another board member, Bowman, said that "unemployment has remained low as we have tightened monetary policy and made progress in lowering inflation," in a prepared speech at an event in Florida.

On the domestic data front, Italian retail trade rose 0.8 percent from the previous month in November, rebounding from a downwardly revised 0.3 percent decline seen in October.

Thus, the FTSE Mib marks a 0.4 percent rise to 25,455.15.

Among other European exchanges, the FTSE 100 marks a rise of 0.6 percent, Paris' CAC 40 rises 0.7 percent, and Frankfurt's DAX 40 is climbing 0.9 percent.

Among the smaller lists, the Mid-Cap is up 0.4 percent to 41,561.66, the Small-Cap is up 0.5 percent to 29,047.69, and Italy Growth is up 0.1 percent to 9,455.78.

On the main list in Piazza Affari, among the few bearish performers is Buzzi Unicem, which is down 1.0 percent. On the stock it is reported that Beremberg lowered the target price to EUR20.00 from EUR22.00.

Hera, on the other hand, rises with 3.9%, after the eve's red with 0.5%.

A2A is also doing well, positioning itself on the highs by appreciating 3.2% and heading for its fourth session to end on the bullish side.

UBS raised Azimut's fair value to EUR22.00 from EUR16.00, with the stock positioning itself bullish by 2.2% to EUR22.26.

Among the bearish performers, Saipem, on the other hand, gives up 2.2 percent, with the stock registering volume of around 86 million units traded against a three-month average of 38 million.

On the cadet segment, Brunello Cucinelli takes a step back with 3.7 percent, on the heels of eve's red with 0.8 percent. The stock is subject to fair value increases by Goldman Sachs and Société Générale.

GVS, on the other hand, gives up 1.4 percent, echoing eve's loss of 2.9 percent.

In green - the prevailing color on this list as well - Ascopiave rises 5.0% after the red with which it closed the last two sessions.

Banca Monte dei Paschi, on the other hand, rises 0.9%, after the eve's loss of 3.5%.

On the SmallCap, the 'buy' side prevails well on Eems, which stretches 1.8% after Tuesday's red with 3.5%.

Fidia, on the other hand, rises with 3.4 percent. The stock -- on the MarketScreener platform -- shows a 'bearish' indication on the short term, 'neutral' on the medium term and again 'bearish' on the long term.

It does even better Brioschi, which moves ahead 4.1 percent, after 1.5 percent on eve.

Closing the list is AlgoWatt, which retreats 2.7 percent after 0.3 percent on eve.

Among SMEs, boost on Grifal, which stretches 15% to EUR2.50 before going into volatility auction, after agreement with Jose Neves Group to produce corrugated cardboard.

EdiliziAcrobatica - up 1.4 percent - reported Wednesday that it ended 2022 with a 17 percent year-on-year increase in contracts signed, worth EUR142 million versus EUR121 million a year earlier.

Enertronica Santerno--priced at a firm EUR0.83--on Tuesday evening informed that the Court of Bologna authorized the company to contract "predeductible finance" with illimity Bank Spa for the total amount of EUR10.0 million compared to just under EUR10.8 million initially requested.

In New York overnight Europe, the Dow closed up 0.6 percent, the S&P 500 rallied 0.7 percent, and the Nasdaq rallied 1.0 percent.

Among currencies, the euro changed hands at USD1.0747 versus USD1.0736 at Tuesday's close. By contrast, the pound is worth USD1.2166 from USD1.2145 last night.

Among commodities, Brent crude is worth USD80.22 a barrel from USD79.94 a barrel last night. Gold, on the other hand, trades at USD1,884.51 an ounce from USD1,880.30 an ounce last night.

On Wednesday's economic calendar, at 1300 CET, the 30-year MBA mortgage rate and mortgage applications will be released in the US.

At 1630 CET, it is the turn of crude oil stocks.

Among companies listed on the Stock Exchange, no particular announcements are expected.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.