(Alliance News) - The Mib Index moves lower positioning itself just above 25,800 Wednesday, with trading rooms assessing a range of economic data to figure out what the ECB's next moves may be this year.

As for the Federal Reserve, in the CME Group platform's FedWatch Tool -- using futures also based on the actual federal funds rate, or EFFR -- the main rate hike for the Feb. 1 meeting has a 98 percent probability priced into the upper range of 450/475 bps. In contrast, the probability of an increase in the 475/500 bps area is at 2%. The current target is between 425 and 450 bps.

Thus, the FTSE Mib gives up 0.3 percent to 25,804.52.

In Europe, Paris's CAC 40 is down 0.5 percent, London's FTSE 100 advances 0.1 percent while Frankfurt's DAX 40 is in the red 0.5 percent.

Among the smaller listings, the Mid-Cap is down 0.5 percent to 43,855.69, the Small-Cap is down 0.4 percent to 29,637.85 and Italy Growth is down 0.3 percent to 9,585.34.

On the main segment, at the tail end is Nexi, which gives up 2.4 percent to EUR7.95. Deutsche Bank Research cut Nexi's target price to EUR11.50 from EUR12.50 with a 'buy' recommendation.

Interpump, on the other hand, gives up 2.2 percent to EUR48.02 following the previous two bearish sessions.

Sales also prevail - among numerous stocks in the red - on Recordati, which gives up 1.7% on its way for the fifth session to end lower.

Enel - down 0.6 percent - reported that after successfully completing the issuance of EUR1.75 billion of EUR750 million equity-accounted perpetual hybrid subordinated non-convertible bonds with euro denomination to institutional investors, and following the completion of the voluntary offering on its EUR750 million equity-accounted perpetual hybrid bond, will repurchase for cash on the early settlement date, scheduled for Jan. 26, and subsequently cancel part of the following U.S. dollar-denominated hybrid bond issue, following acceptances received and not validly withdrawn by the early tender deadline of Jan. 23.

Iveco Bus -- a brand of Iveco Group -- on Wednesday announced that it has signed a framework agreement with Flanders public transport company De Lijn -- controlled by the government -- for the sale of an initial batch of 65 all-electric E-WAY city buses and additional batches up to a total of 500 vehicles. The stock opened trading in the green by 1.7 percent.

Leonardo also did well, moving ahead 2.2 percent to EUR9.41 after a 0.1 percent loss on the eve. The stock had previously come from eight bullish sessions.

On the cadet segment, Safilo Group gives up 3.3%, placing it at the tail end of the bearish convoy.

GVS gives up 2.8 percent to EUR4.95. Coverage on the stock recently began by Beremberg, which sets the fair value at EUR7.50.

Also in the red is Credito Emiliano, which gives up 0.3%. On the stock, ProiezioniDiBorsa, taking into account previous good performance points out that "such an important percentage rise has not been seen on the stock since July 2022. Moreover, it was accompanied by volumes up more than 300% from the previous 5-day average. This means that the current bullishness is solid and, at least for the moment, does not present major problems.

Among the minority of bullish traders, Industrie De Nora, on the other hand, rises 2.1 percent, following up on its 0.7 percent loss on the eve.

Italmobiliare is grinding out a 1.2 percent gain, taking the price to EUR24.95. The stock-according to one analyst's fair value on the MarketScreener platform-appears underpriced, listed at EUR38.00, or more than a 54 percent gap.

On the Small-Cap, Bioera comes out ahead, posting a plus 3.6 percent on the heels of eve's 5.4 percent green.

It does even better, Restart, which stretches with 6.9 percent. The stock - which has been missing the ex-dividend since 2007 - brings the price to EUR0.324.

Upward trend also for SS Lazio, which rises with 1.0 percent after beating Milan last night by four goals to zero and flying to third place in the standings.

Orsero retreats with 3.3%. The stock still marks a green on the weekly close to 8%.

Among SMEs, however, Energy confirms its good start, rising 7.4% to EUR2.90 at mid-session.

Arterra Bioscience, on the other hand, rises 6.4 percent, with price at EUR2.44 and monthly marking a plus 19 percent.

Grifal - down 1.4% to EUR2.91 - reported Wednesday that 2022 revenues rose to EUR37 million or 42% from EUR26.1 million a year earlier. As the company explained, after a slight decline of 10% between fiscal years 2019 and 2020, partly as a result of the pandemic situation, last year, the group had reported a 55% increase in revenues.

At the bottom, CleanBnB gives up 5.6 percent, in profit taking after two sessions of significant gains.

In New York--on European night--the Dow Jones closed down 0.3 percent, the S&P gave up 0.1 percent, and the Nasdaq closed 0.3 percent in the red.

Among currencies, the euro changed hands at USD1.0905 versus USD1.0882 at Tuesday's close. In contrast, the pound is worth USD1.2327 from USD1.2332 on Tuesday evening.

Among commodities, Brent crude is worth USD86.41 per barrel from USD86.62 per barrel Tuesday evening. Gold, meanwhile, trades at USD1,932.72 an ounce from USD1,934.31 an ounce last session.

On Wednesday's economic calendar, at 0900 CET, at 1000 CET, however, space is given to the ifo index from Germany.

From the US, at 1300 CET, will come the 30-year mortgage rate, the EIA report at 1630 CET as well as the Cushing inventory and oil inventories.

At 1900 CET, an auction of five-year U.S. Treasury bonds will be held.

By Maurizio Carta, Alliance News reporter

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