(Alliance News) - On Wednesday, European stock markets -- after a reverse start -- beat a bullish path, with only London in the red, as investors await the Federal Reserve's decision on interest rates, in which the U.S. central bank is expected to raise the cost of money again to continue the fight against inflation.

On the possible Eccles Building path, 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 March 22 meeting has a 13 percent probability of confirmation in the 450/475 bps range. In contrast, the probability of an increase in the 475/500 bps area, or 25 basis points, is at 87 percent. The current target is between 450 and 475 bps.

Trading rooms have also begun to discount the prospect of further rate hikes by the Bank of England, which meets on Thursday. UK inflation unexpectedly jumped to 10.4 percent in February, 50 basis points above expectations, increasing pressure on the central bank to raise interest rates again.

Prices in swap markets indicate that investors are positioning themselves for a 25 basis point increase.

Thus, the FTSE Mib moves up 0.1 percent to 26,590.80 and put/call ratio now at 1.29.

In Europe, London's FTSE 100-as mentioned-is giving up 0.2 percent, while Paris' CAC 40 is in the green by 0.2 percent. In contrast, Frankfurt's DAX 40 is up 0.4 percent.

Among the smaller lists, the Mid-Cap is down 0.4 percent to 43,077.44, the Small-Cap is in the green 0.2 percent to 30,099.77, while Italy Growth is in the green 0.2 percent to 9,290.29.

On the main list in Piazza Affari, good bullish positioning for FinecoBank, which rises 1.8% to EUR14.18. Deutsche Bank raised its recommendation to Buy from Hold with fair value confirmed at EUR17.60.

Other stocks in the credit sector also rise well, with UniCredit advancing 0.6 percent and Intesa Sanpaolo registering plus 0.7 percent.

Banca Monte dei Paschi - which marks a plus 0.6 percent - brings the price to EUR1.9896 heading for the third session in a row to end on the bullish side.

It gives ground to Hera, which is marking minus 1.0 percent to EUR2.46 per share after two bullish sessions. The company reported Tuesday that it ended 2022 with net income up 4.3% year-on-year to EUR372.3 million from EUR356.9 million in 2021.

On the cadet segment, GVS steps up more than 11 percent, the day after it reported that it had reported a net profit of EUR24.1 million from EUR67.6 million in the same period last year. The company's total revenues amounted to EUR392.0 million from EUR343.0 million as of Dec. 31, 2021.

Tamburi, on the other hand, rises 2.7 percent to EUR8.32 per share and pointing to its third session to end on the bullish side.

High quarters also for MARR, which with a plus 1.2 percent positions its snout toward its third session to end on the upside.

Seco -- down 1.8 percent -- reported Tuesday that in the year ended Dec. 31, 2022, adjusted net income amounted to EURU20.5 million from EUR11.5 million in 2021. Sales revenue of EUR200.9 million from EUR112.3 million compared to the same period last year and up 79 percent. Gross margin stood at EUR94.3 million from EUR53.1 million in FY2021.

Rear-ends also for Zignago Vetro, which gives up 1.9 percent to EUR17.38 reversing course after two bullish sessions.

On the SmallCap, Piovan advances decisively, marking a 6.6 percent gain. The board of directors approved the draft financial statements for fiscal year 2022, which closed with an operating profit of EUR34.8 million, up from EUR27.7 million in the previous year. The incidence on total value of revenues and other income is 6.6 percent from 9.6 percent in 2021. The board proposed the distribution of a dividend of EUR0.20 per share, up from EUR0.10 a year earlier.

Alkemy, on the other hand, is putting up 4.1 percent, taking the lead in the list and bringing the price to EUR12.76.

Restart -- in the money by 2.9 percent -- reported Tuesday that it approved results for the fiscal year to Dec. 31, 2022, having reported total revenues of EUR1.1 million from EUR100,000 in the same period a year earlier. The loss came to EUR1.2 million from a loss of EUR2.6 million in 2021.

Services Italy down 1.5 percent reverses course after good profit in eve closed with 5.7 percent.

Gabetti closes the list, contracting 3.7 percent. The stock-which has been missing the ex-dividend since 2006-closed last night up 2.7 percent.

Among SMEs, Gambero Rosso advanced 17 percent before being suspended at a volatility auction. The corporate board on Tuesday reviewed and approved the issuer's draft financial statements as of December 31, 2022 and the consolidated financial statements as of December 31, 2022, which closed with a consolidated net profit of EUR1.6 million compared to a balanced budget in 2021. Net sales revenue as of December 31, 2022 reached EUR17.3 million from EUR12.8 million in the previous year.

Franchi Umberto Marmi also did well, up 5.2 percent after the accounts presented in the eve, in which it reported total revenues and other income amounting to EUR76.3 million compared to EUR65.3 million as of December 31, 2021 and up 17 percent. Operating income as of December 31, 2022 was EUR17.2 million compared to EUR10.4 million as of December 31, 2021 and up 66 percent.

DHH's board of directors-flat at EUR16.20 per share-reviewed and approved the draft annual financial statements and consolidated group financial statements as of December 31, 2022, which closed with a net profit of EUR867,000 from EUR3.1 million in the previous year.

Iniziative Bresciane, however, gives up 5.3 percent, with the price now at EUR16.20.

In New York on European night, the Dow rallied 1.0 percent, the Nasdaq 1.6 percent, and the S&P 500 took home 1.3 percent.

Among currencies, the euro changed hands at USD1.0788 versus USD1.0760 at yesterday's close. In contrast, the pound is worth USD1.2294 from USD1.2249 on Tuesday evening.

Among commodities, Brent crude is worth USD75.05 per barrel versus USD74.53 per barrel Tuesday night. Gold, meanwhile, trades at USD1,944.05 an ounce from USD1,944.68 an ounce at Tuesday's close.

On Wednesday's economic calendar, at 1200 CET the US 30-year mortgage rate is expected, at 1530 CET crude oil stocks, the EIA report and the Cushing inventory are released.

At 1900 CET, however, it is the turn of the FOMC decision on the federal funds rate, with the press conference at 1930 CET.

By Maurizio Carta, Alliance News reporter

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