(Alliance News) - European exchanges-according to the futures market-are set for a bullish opening as trading rooms assess another round of U.S. economic data that showed rising inflation and still robust growth.

According to the Bureau of Economic Analysis, the core personal consumption expenditures index rose 2.8 percent year-on-year in October, accelerating from 2.7 percent in September. The reading is in line with the market consensus cited by FXStreet.

In addition, the U.S. economy expanded 2.8 percent on a quarter-over-quarter basis in the three months to Sept. 30, in line with the previous estimate. Growth slowed from 3.0 percent in the second quarter, but was in line with expectations.

Stephen Innes, analyst at SPI Asset Management, commented, "Complementing this, the number of weekly claims for U.S. unemployment benefits fell more than expected, underscoring the strength of the labor market."

"Overall and probably at the policy level, this drop in data reinforced the market's expectation that the Federal Reserve may opt for a 25 basis point cut at its December meeting. As a result, the dollar showed slight weakness. Although we read that the core data is very solid, the market's obsession with inflation has subsided for the time being."

Thus, the FTSE Mib-after closing in the red by 0.2 percent at 33,089.72 last night-is marking an uptick of 90.00 points.

In Europe, London's FTSE 100 is advancing 10.00 points, Frankfurt's DAX 40 is advancing 81.70points, and Paris' CAC 40 is advancing 25.70 points.

Among the smaller lists last night, Mid-Cap lost 0.4 percent to 46,690.07, Small-Cap rose 0.2 percent to 26,922.61, while Italy Growth gave up 0.5 percent to 7,667.46.

Last night, in Milan, on the highest-capitalization list in Piazza Affari, Banca Monte dei Paschi di Siena did best of all and takes the top spot with a rise of 3.2 percent. On the stock it is mentioned that Capital Fund Management raised its short position to 1.09 percent from 0.99 percent.

Also up is Pirelli & C, up 1.9%, while Campari closes the podium with a 1.8% gain.

Banco BPM - in the green by 1.1 percent - announced Tuesday that its board of directors has appointed Edoardo Faletti as the new head of the risk management function as well as chief risk officer effective Dec. 1, replacing Andrea Rovellini, who is leaving the post to enter retirement.

Saipem rose 1.1 percent after securing an offshore EPCI contract worth USD1.20 billion, including about USD1.00 billion for its share, under the Tangguh Ucc project in Indonesia, Il Sole 24 Ore wrote Wednesday. The contract, in consortium with PT Meindo Elang Indah and awarded by BP Berau Ltd, covers the development of the Ubadari field, CO2 capture and storage, and onshore compression in Papua Barat province.

Among the bearish performers is STMicroelectronics, down 2.3 percent. Also going down was Assicurazioni Generali, which left 2.2 percent on the sidelines, while Iveco Group gave up 1.0 percent.

On the cadet segment, Zignago Vetro rose 1.1 percent after announcing Wednesday that it had terminated the employment relationship with Roberto Celot, the company's executive in charge and investor relator. The employment relationship was terminated for reasons of reorganization of the role.

Rai Way rose 0.8 percent. The company unveiled in Milan the first five Edge Data Centers, key infrastructures to improve digital connections and services in Italy. As Milano Finanza reported Wednesday, the project, part of a plan of more than EUR100.0 million by 2027, includes a fiber optic backbone of more than 6,000 km and aims to serve SMEs and public administration with storage and data security solutions.

Cementir Holding gave up 0.7 percent. The company aims to reduce CO2 emissions with two EUR1.00 billion projects targeting plants in Aalborg, Denmark, and Gaurain-Ramecroix, Belgium, Il Sole 24 Ore explained Wednesday.

On the Small-Cap, Mondo TV--down 2.0 percent--reported Tuesday that it has strengthened its partnership with Seychelles state TV, SBC, with the preliminary agreement to license the series Monster Loving Maniacs, produced by Mondo TV with JA Films, Belvision and Ginger Pictures, in collaboration with Toon2Tango.

BasicNet closed up 3.5 percent. The company announced Tuesday that, following the announcement regarding Permira Funds' strategic investment in K-Way, Luca Lo Curzio will be the CEO of K-Way.

Zest lost 1.3 percent. The company announced that it has updated its forecast for 2024, now expecting revenues to fall to around EUR9 million. According to the company, this decline can be attributed to delays in completing post-merger and corporate reorganization transactions, the impact of the general economic slowdown, and more contingent reasons.

Among SMEs, Racing Force gave up 3.7 percent after it announced Wednesday that it has extended the multi-year partnership between its OMP brand and the Maserati MSG Racing team, which will start in the FIA Formula E World Championship.

Health Italia was down 3.0 percent. The company announced Tuesday that the shareholders' meeting authorized the purchase and disposal of treasury shares up to 20 percent of the share capital for 18 months.

It also approved an extraordinary in-kind dividend in the form of shares in Rebirth, in which Health Italia has a 43.52 percent shareholding, equal to 25.75 percent of its share capital.

Energy on Tuesday reported that the shareholders' meeting of its subsidiary Enermore resolved to change its name to EnergyOnSite.

In New York, the Dow closed 0.3 percent in the red, the Nasdaq down 0.6 percent while the S&P 500 closed down 0.4 percent.

Among Asian marketplaces, the Nikkei rallied 0.6 percent, the Shanghai Composite is giving up 0.5 percent, while the Hang Seng is giving up 1.3 percent.

Among currencies, the euro changed hands at USD1.0549 from USD1.0562 in Wednesday's European stock close. The pound is worth USD1.2664 versus USD1.2679 last night.

Among commodities, Brent crude is worth USD72.93 per barrel from USD72.52 per barrel last night. Gold trades at USD2,639.28 an ounce from USD2,666.39 an ounce last night.

On Thursday's economic calendar, while the US stock exchanges will be closed for Thanksgiving, at 0900 CET it is the turn of Spain's inflation data, while an hour later in Italy the consumer and business confidence data is released, along with German inflation and in the Eurozone the M3 money supply data.

Again in Italy, at 1100 CET, it is the turn of the publication of producer prices and in the Eurozone of consumer and business confidence.

At 1400 CET, the German inflation data from Destatis is expected.

Among the companies listed in Piazza Affari, no particular announcements are expected.

By Maurizio Carta, Alliance News reporter

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