(Alliance News) - European stock markets move higher for the third consecutive session Wednesday as investors eagerly await the release of the highly anticipated U.S. inflation report later in the day. The data will likely indicate a continued decline in inflationary pressures within the world's largest economy, which would reinforce expectations that the Federal Reserve is nearing the end of its current monetary tightening campaign.

Thus, the FTSE Mib, marks a rise of 0.7 percent to 28,252.23.

In Europe, London's FTSE 100 advances 23.30 points, Paris' CAC 40 rises 28.70 points, and Frankfurt's DAX 40 advances 68.10 points.

The Mid-Cap is just below par at 42,443.10, the Small-Cap in the green by 0.2 percent to 26,751.47, while Italy Growth advances 0.1 percent to 9,081.70.

On the main index of Piazza Affari, Stellantis is off to a good start, posting plus 1.6% heading for the fourth session on the bullish side.

Banco BPM - up 1.1 percent - announced Tuesday that the board of directors, in connection with the project for the valorization of the e-money business with NVP of more than EUR2 billion, resolved to grant exclusivity to FSI SGR Spa, Pay Holding Spa and BCC Pay Spa, after examining offers received "from leading operators in the sector."

The purpose of this exclusivity is to negotiate and define the terms and conditions of a potential partnership in the issuing and acquiring sectors, with the simultaneous activation of a joint venture, in whose capital the Bank may enter with a significant stake, the company's note says.

Jefferies raised the target price of STMicroelectronics to EUR43.00 from EUR33.00. The stock opened trading in the green 2.7 percent to EUR45.48 per share.

Telecom Italia -- up 0.5 percent -- on Tuesday announced the launch of a euro bond of 'benchmark' amount -- with maturity of 5 years -- authorized by a board resolution last May 10. Pricing will be determined upon completion of book-building and will be communicated to the market once available.

Redburn raised its recommendation on UniCredit to 'Buy' from 'Neutral' with pricing at EUR27.80 per share. The stock opened in the green by 1.0 percent.

On the Mid-Cap, the head of the list is for Tod's, which is up 3.5 percent to EUR44.44 per share. Bryan Garnier upgraded the recommendation on Tod's to 'Buy,' with target price at EUR45.00.

Credito Emiliano, meanwhile, advances 0.8 percent with price at EUR7.32, heading for its third session on the bullish side.

GVS, on the other hand, advances 0.8 percent to EUR5.29 per share, after contracting with 3.7 percent in the previous session.

On a negative note, doing worst of all is LU-VE, which marks a minus 3.1% with new price at EUR30.05.

On the Small-Cap, Bialetti moves ahead 4.6 percent, with price at EUR0.2930 in its second bullish row.

High quarters also for Pierrel, which moves ahead 3.9% breaking a six-session downtrend.

TXT e-solutions -- up 0.2 percent in letters -- announced Tuesday evening that it had signed an agreement to acquire assets belonging to the Embedded Graphics business of Presagis Canada Inc, Presagis Europe SAS and Presagis USA Inc, subsidiaries of CAE Inc, a leading Canadian Aerospace & Defense company.

Il Sole 24 Ore gives up 3.0 percent, with new price at EUR0.5240, in the wake of the previous three bearish sessions.

Among SMEs, however, in a still uneventful list, Ediliziacrobatica stands out, advancing 5.7 percent to EUR16.80. The company reported Wednesday that in the first half of 2023 the number of new customer contracts grew by 50 percent compared to 2022. "This is an exceptional result that demonstrates great commercial strength, despite the blocking of the benefit of the assignment of credit," the company specified in a note.

Fope -- up 1.3 percent -- reported on Wednesday that the first half of 2023 ended with consolidated net revenues of EUR34.7 million, up EUR7.0 million, or 25 percent, from consolidated net revenues in the first half of 2022.

At the back of the pack, Gambero Rosso gave up 3.2 percent to EUR0.4780 after four straight sessions among the bearish.

Among Asian exchanges, the Nikkei closed down 0.8 percent, the Shanghai Composite in the red by 0.8 percent, while the Hang Seng posted a green by 1 percent.

In New York on European night, the Dow closed in the green by 0.9 percent, the Nasdaq closed ahead by 0.6 percent, while the S&P 500 finished up 0.7 percent.

Among currencies, the euro changed hands at USD1.1030 against USD1.0991 in Tuesday's European equities close, while the pound was worth USD1.2959 from USD1.2896 Tuesday evening.

Among commodities, Brent crude is worth USD79.17 per barrel versus USD79.34 per barrel at Tuesday's close. Gold, meanwhile, trades at USD1,938.79 an ounce from USD1,937.55 an ounce on Monday evening.

On Wednesday's economic calendar, there will be a 12-month BOT auction at 1110 CEST in Italy.

As usual at 1300 CEST it is the turn of mortgages from the United States.

In the afternoon, also from overseas, comes U.S. inflation data for June at 1430 CEST.

Among the companies listed in Piazza Affari, Unieuro's results are expected.

By Maurizio Carta, Alliance News reporter

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