(Alliance News) - On Wednesday, Piazza Affari closed slightly up at 28,700 points. Trading rooms welcomed data showing a reduction in inflationary pressures in the UK while revised Eurozone data showed core inflation rose more than initially expected.

The consumer price inflation rate in the currency bloc was confirmed at 5.5 percent in June, the lowest level since January 2022, mainly due to falling energy prices. As mentioned, however, the core rate rose to 5.5 percent, above a preliminary estimate of 5.4 percent, remaining close to a recent peak of 5.7 percent, thus supporting the growing narrative that ECB officials are likely to continue raising rates in the coming months.

Thus, the FTSE Mib ended just above par at 28,712.31, the Mid-Cap gained 0.4 percent to 42,456.03, the Small-Cap was in the green by 0.2 percent to 26,734.54 while Italy Growth rose 0.2 percent to 9,095.98.

In Europe, Paris' CAC 40 closed up 0.2 percent, London's FTSE 100 in the green by 1.9 percent, while Frankfurt's DAX finished just below par.

On the main index of Piazza Affari, ERG advanced 1.7 percent with price at EUR27.80, after announcing Tuesday that it had finalized the renewal of its medium-term nonconvertible bond issue program - Euro Medium Term Notes Program - with a total maximum amount of EUR3 billion, of which EUR1.6 billion has already been issued.

Nexi, on the other hand, took home 2.6 percent, following the eve's green with 1.2 percent.

Good trades were also made on Terna, which posted a plus 1.3 percent at the close. In particular, the latter launched a EUR650 million green bond issue. The bond is part of the soceity's EUR9.00 billion Euro Medium Term Notes program, rated 'BBB+' by S&P and '(P)Baa2' by Moody's. It has a term of 10 years, maturing in July 2033, with a coupon of 3.875% and an issue price of 99.1%, with a spread of 90 basis points over midswap. Terna expects the net proceeds of the issue to be used to finance the company's "eligible green projects," identified or to be identified based on Terna's green bond framework.

In contrast, Snam advanced 1.4 percent, gaining ground after three sessions in the red.

Among the narrow group of bearish performers, Moncler closed down 1.7 percent. "Spooking European luxury is the signals coming from the health of the Chinese economy, despite the fact that the sector is by definition countercyclical. In the second quarter of the year, Beijing's Gross Domestic Product grew 6.3 percent against plus 7.1 percent expectations, and in June retail sales rose only 3.1 percent year-on-year against the plus 12.7 percent recorded in May," writes Alliance News columnist Francesco Bonazzi.

Also among the bearish minority was Inwit, which posted a minus 1.5 percent. On the stock it is reported that Berenberg raised its target price on the stock to EUR13.60 from EUR13.50 with a 'buy' recommendation.

On the Mid-Cap, Salcef Group - in the green by 0.7 percent - reported Wednesday that subsidiaries were awarded contracts totaling EUR150 million by RFI in Lombardy and Veneto and by EAV Srl in Campania.

Alerion closed up 2.7%, with the company continuing its buyback plan. Most recently on Monday it informed it had bought back 4,400 of its own shares from July 10 to 14 for a total value of about EUR124,000.

Antares, on the other hand, advanced 2.2 percent to EUR6.59, trailing eve's green with 0.9 percent.

Safilo Group -- up 2.0 percent -- and Juicy Couture, a global fashion brand with an iconic lifestyle, on Tuesday announced the renewal, until Dec. 31, 2027, of their global licensing agreement for the design, production, and distribution of Juicy Couture-branded women's eyewear and sunglasses and girls' eyewear.

Down goes Tod's, which gave up 1.8 percent to EUR41.60 per share after a 0.4 percent green on eve.

Also at the tail end is Reply, which posted minus 1.0 percent after eve's slight gain of 0.1 percent.

On the Small-Cap, strength on Neodecortech, which raised the bar 8.6 percent. Volume of more than 111,600 is reported on the stock, compared with the three-month daily average of about 10,800.

High rankings also for Tessellis, which put up 4.0 percent after two bearish sessions.

High quarters also for Softlab, which advanced 3.4 percent after eve's 1.2 percent decline.

Esprinet rose 1.8 percent after announcing Wednesday that it had entered - on July 18 - a binding agreement to purchase 100 percent of the capital of Sifar Group Srl, a company under Italian law that has been active since 2012 in the B2B distribution of spare parts, components and accessories for mobile phone and tablet products. The acquisition will take place at an estimated consideration of EUR16.0 million and subject to adjustment mechanisms.

Itway closed 2.7 percent in the red, placing it on the bearish side for the fourth consecutive session.

Among SMEs, eVISO closed taking home 10 percent, rebounding after two bearish sessions.

BFC media, on the other hand, picked up 7.2 percent, rearing its head again after four sessions closed in negative balance.

Pattern climbed 1.4 percent, after announcing Tuesday that Idee Partners, a company currently its subsidiary, has signed a framework agreement with Paolo Benedetti to acquire from him an additional 30 percent of the share capital of RGB Srl, a Tuscan company specializing in the production and processing of leather accessories, to hold 100 percent of the latter's share capital at the transaction's closing.

Arterra Bioscience advanced by 8.1 percent with new price at EUR2.26 per share, after eve's loss with the same percentage decline. Of note, the company reported Monday that it closed the first half of the year with revenues of EUR1.6 million, down 25 percent from EUR2.1 million in the same period last year.

Gentili Mosconi, meanwhile, gave up 5.3 percent to EUR3.40 per share, with volume of more than 38,000 changed hands compared to a three-month daily average of about 6,800.

In New York, the Dow Jones is giving up 0.5 percent, while the S&P is in the green by 0.4 percent as is the Nasdaq.

Among currencies, the euro changes hands at USD1.1194 against USD1.1225 in Tuesday's European equities close while the pound is instead worth USD1.2888 from USD1.3064 Tuesday evening.

Among commodities, Brent crude is worth USD80.03 per barrel versus USD79.28 per barrel at Tuesday's close. Gold, on the other hand, trades at USD1,974.04 an ounce from USD1,980.81 an ounce Tuesday evening.

On Thursday's macroeconomic calendar, Japan's trade balance is expected at 0150 CEST while at 03015 CEST the PBoC's decision on the preferred interest rate will be announced. At 0800 CEST, focus on Germany's producer price index while at 1000 CEST it will be the turn of the Eurozone current account balance.

At 1430 CEST, from the US, will come the initial claims of unemployment benefits while at 1600 CEST space will be given to existing home sales. At 1730 CEST, an auction of four- and eight-week Treasury bonds is scheduled.

Among the companies in the Piazza Affari, the results of Altea Green Power, Gismondi, and Labomar are forthcoming.

By Maurizio Carta, Alliance News reporter

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