(Alliance News) - Equity markets moved higher Wednesday on the heels of a global rally that saw lackluster data on U.S. producer inflation reinforce expectations of several interest rate cuts by the Federal Reserve later this year.

Among macro data, GDP rose 0.3 percent in the Eurozone in the second quarter compared to the previous quarter, according to a flash estimate released by Eurostat on Wednesday. GDP had also grown by 0.3 percent in the first quarter of 2024.

Thus, the FTSE Mib marks a 0.8 percent rise to 32,271.84.

London's FTSE 100 is advancing 0.5 percent, Paris' CAC 40 is up 0.7 percent, and Frankfurt's DAX 40 is marking plus 0.4 percent.

Among the smaller listings, the Mid-Cap is in the green 0.9 percent to 45,609.24, the Small-Cap is advancing 0.7 percent to 28,005.43, and Italy Growth is advancing 0.2 percent to 7,882.20.

On the Mib, Leonardo is advancing 2.4 percent to EUR22.36 per share, after the previous session's 0.4 percent red.

BPER Banca advances 2.0% with new price at EUR4.80 per share, after two sessions ended with bearish candle.

Telecom Italia, on the other hand, advances 1.6% to EUR0.2214 per share, after 1.5% red in the previous session.

Good momentum also on Ferrari, which brings the price up 1.9% to EUR397.70 per share and after 1.2% green in the previous session.

On the cadet segment, Carel Industries is advancing 2.0%, after 0.6% green in the previous session.

Strength also on Sanlorenzo, which is up 3.2% to EUR37.05 per share, in its third bullish session.

Mondadori Editore, meanwhile, appreciates 1.0% to EUR2.48 per share, rearing its head after two bearish sessions.

Philogen, on the other hand, gives up 0.9% to EUR21.60 per share, with the weekly frame showing a 4.8% gain.

On the Small-Cap, Giglio Group advances 5.3 percent, on the heels of eve's 9.2 percent gain that broke a four-session bearish mini-trend.

Eurotech advances 6.4% to EUR1.12 per share, taking the top of the list after two sessions ended with bearish candles.

Eems, meanwhile, advances 3.4 percent to EUR0.18 per share after three bearish sessions.

Aeffe, on the other hand, gives up 1.5%, the subject of profit takig after two sessions in which it rallied about 4%.

Among PMIs, Almawave advances 1.9 percent, on the heels of Tuesday night's 0.5 percent green that broke an eight-session bearish cycle.

DBA Group advances 3.0%, bringing the price to the EUR3.11 per share area. The stock in the MarketScreener platform on the basis of the average of two analysts has a target price of EUR3.95, thus being under-priced by about 30 percent.

Comal, on the other hand, marks a 2.0 percent red, after three sessions of assets.

Edil San Felice, on the other hand, gives up 4.7%, subject to profit taking after four sessions ended with bullish candle.

In New York last night, the Dow rallied 1.0%, the Nasdaq advanced 2.4%, and the S&P 500 closed ahead 1.7%.

In Asia, the Hang Seng gave up 0.4 percent, the Shanghai Composite gave up 0.6 percent, while the Nikkei rallied 0.6 percent.

Among currencies, the euro changed hands at USD1.1022 versus USD1.0954 in Tuesday's European stock close while the pound was worth USD1.2849 from USD1.2847 Tuesday evening.

Among commodities, Brent crude is trading at USD81.00 per barrel versus USD81.26 per barrel at Tuesday's close. Gold, on the other hand, trades at USD2,473.60 an ounce from USD2,470.43 an ounce Tuesday evening.

Wednesday's macroeconomic calendar includes in the afternoon, the focus on U.S. mortgages, at 1300 CEST, and U.S. inflation, at 1430 CEST. Crude oil stocks will be released at 1630 CEST.

By Maurizio Carta, Alliance News reporter

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