(Alliance News) - Major European stock markets opened lower on Wednesday, with trading rooms focusing on corporate interim reports and awaiting the ECB meeting scheduled for Thursday, which is expected to confirm the current interest rate regime.

As for the Federal Reserve, the expectation is equally for the confirmation of rates at the Nov. 1 meeting. In the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate, or EFFR, the rate confirmation in the Nov. 1 meeting has a 99 percent probability for confirmation range 525/550 bps. In contrast, the 25 bps rise in the 550/575 bps target is priced at 1%.

The FTSE Mib, therefore, is marking a decline of 0.6 percent to 27,402.79.

In Europe, London's FTSE 100 is giving up 0.3 percent as is Paris' CAC 40, while Frankfurt's DAX 40 is down 0.1 percent.

Among the smaller lists, the Mid-Cap is giving up 0.6 percent to 38,004.68, the Small-Cap is flexing 0.6 percent to 24,280.02, and Italy Growth marks a green of 0.3 percent to 7,772.52.

On the main list of Piazza Affari, Banca Monte dei Paschi is giving up 1.7 percent, following up on the eve's negative close of 0.3 percent.

Negative note also on Telecom Italia, which gives up 1.3 percent with price at EUR0.2460, following up on the previous four bearish sessions.

Enel -- down 0.1 percent -- and its listed subsidiary Enel Chile SA announced Wednesday that they had finalized the sale to Sonnedix of their entire shareholdings in the share capital of Arcadia Generación Solar SA, a Chilean company that owns a portfolio of four operating photovoltaic plants totaling about 416 MW of installed capacity. The buyer paid a total consideration of USD556 million, or approximately EUR525 million, corresponding to 100 percent of the enterprise value agreed by the parties.

The board of directors of Italgas -- in the green by 1.2 percent -- approved the consolidated results for the first nine months, which closed with adjusted net income attributable to the group of EUR316.7 million, up nearly 11 percent from September 30, 2022 when it was EUR285.9 million. Total revenues were EUR1.37 billion, up 26 percent on the same period last year from EUR1.09 billion.

On the cadet segment, Saras is retreating 2.8 percent in the wake of falling barrel prices following the previous three bearish sessions.

Webuild, on the other hand, is retreating 2.3%, after two sessions closed with bullish candles.

Good opening for SOL, which moves ahead 1.8% with new price at EUR28.20 per share.

Positive note also for Salcef, which moves ahead 0.9%, with the company continuing its buyback program on a regular basis. Most recently, it reported Monday that it bought back 27,703 of its own ordinary shares between Oct. 16 and Oct. 20, for a total value of EUR620,000 or so.

Also advancing quarterly is Industrie de Nora, which shows a surplus balance of 0.6 percent, with the weekly posting a loss of about 7 percent.

On the Small-Cap, Aeffe is giving up 5.6 percent to EUR0.72, with the stock posting a new 52-week low at EUR0.71.

Geox, on the other hand, is giving up 4.6 percent to EUR0.67 and after stroking a new 52-week low of EUR0.66 per share.

Esprinet - down 2 percent - announced Tuesday that the deed of merger by incorporation into of its wholly owned subsidiary 4Side Srl has been finalized.

Mondo TV - in the red by 0.3% - announced Tuesday that it has signed an agreement with Mi Media International, a major Asian distributor, for the placement of the animated series Meteo Heroes in Brunei. The final agreement covers freetv, internet, mobile rights for the next three years against payment of a "flat fee."

Among SMEs, Comal advances 2.2 percent, after 0.6 percent red on eve.

Cofle -- in the money with 2.4 percent reported Wednesday that the board of directors reviewed consolidated sales for the first nine months of the year, which came in at EUR46.8 million, up nearly 18 percent from the same period last year, when it was EUR39.7 million.

The board also resolved to propose to the shareholders' meeting the adoption of a plan to purchase and dispose of treasury shares up to a maximum number not exceeding 20 percent of the company's capital. The amount that can be used for the purchase of treasury shares was set at EUR1 million.

Among the declines, in a still uneventful list, closed the DigiTouch convoy, which was 4 percent in the red and hit a one-year low at EUR1.92 per share.

In New York--on European night--the Dow advanced 0.6 percent, the Nasdaq picked up 0.9 percent, and the S&P 500 marked a plus 0.7 percent.

Among Asian exchanges, the Nikkei rallied 0.7 percent, the Shanghai Composite 0.5 percent, while the Hang Seng headed toward the close with a gain of 0.4 percent.

Among currencies, the euro changed hands at USD1.0590 against USD1.0590 recorded in Tuesday's European stock close, while the pound is worth USD1.2165 from USD1.2166 last night.

Among commodities, Brent crude is worth USD87.47 per barrel from USD88.05 per barrel at yesterday's close. Gold, meanwhile, trades at USD1,973.06 an ounce from USD1,967.77 an ounce last night.

On Wednesday's macroeconomic calendar, the Ifo index on business confidence in Germany is due at 1000 CEST. At 1000 CEST it is the turn of the Eurozone M3 money supply, while at 1110 CEST an auction of Italian 10-year BTPs.

At 1300 CEST, from the US comes the weekly mortgage report, while at 1400 CEST it is the turn of building permits. At 1630 CEST the EIA report and Cushing inventory is released, while at 1900 CEST an auction of 5-year Treasury bonds is scheduled.

A speech by Federal Reserve Number One Powell is scheduled at 2235 CEST.

Among the companies listed in Piazza Affari, the publication of the results of Compagnia dei Caraibi, Saipem, and STMicroelectronics are noted.

By Maurizio Carta, Alliance News reporter

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