(Alliance News) - European stock markets-according to the futures market-are positioned for a bearish open Wednesday, with rising bond yields and hawkish signals from the Federal Reserve. Minneapolis Fed President Neel Kashkari said Tuesday that he would not rule out further rate hikes if inflationary pressures re-emerge.

In Europe, by contrast, investors are discounting in advance the European Central Bank's rate cut for its June meeting, which has also been confirmed on several occasions by Frankfurt's top management.

Thus, the FTSE Mib-after giving up 0.3 percent to 34,659.55 last night-is reporting a bearish opening of 125.00 points.

In Europe, Paris's CAC 40 is given down 27.50 points, London's FTSE 100 is expected down 31.80 points while Frankfurt's DAX 40 is expected to be in the red 73.00 points.

Among the smaller lists last night, the Mid-Cap closed down 0.3 percent to 48,153.01, the Small-Cap advanced 0.6 percent to 29,287.64 while Italy Growth closed down 0.1 percent to 8,255.33.

On the main list in Piazza Affari on Tuesday, among the minority of bullish investors, BPER Banca rallied 1.9 percent. On Monday, it reported that the rating agency Moody's revised its major ratings upward. The agency, in particular, revised upward in the Investment Grade area the standalone Baseline Credit Assesment rating to "ba1" from "baa3" and the long-term ratings on senior unsecured debt and the issuer rating both to "Baa3" from "Ba1." The outlook has been changed to stable from positive.

Strength also on Intesa Sanpaolo, which closed up 1.2 percent, in its fourth session in a row with a bullish candle.

On a negative note--majority of the list--Brunello Cucinelli left 2.3% on the parterre, tacking down after two sessions in a positive balance.

For Ferrari, on the other hand, the loss was 2.0%, with new price at EUR379.00, after 0.7% green on the eve.

Snam, on the other hand, gave up 0.9% after announcing on Tuesday that it had signed a new Sustainability-linked credit facility, totaling EUR1 billion, in accordance with the group's new Sustainable Finance Framework published last February. The revolving credit line has a maturity of three years and is linked to specific sustainability targets whose achievement by Snam determines the margin applicable to the loan.

On the cadet segment, Juventus FC took the lead with a 4.0 percent rise, which followed the eve's rise, albeit by a timid 0.1 percent.

Philogen, on the other hand, picked up 3.0% to EUR20.50, on its third session bullish candle.

On a negative note, Brembo left 1.8% on the parterre, after 2.0% green on eve. The brake company closed with price at EUR10.61.

For Italian Sea Group, on the other hand, the drop was 2.6 percent, veering downward after two sessions in the green.

Fincantieri closed flat at EUR0.6160 after announcing Friday that the U.S. Department of Defense awarded the U.S. subsidiary, Fincantieri Marinette Marine, the EUR1.00 billion-plus contract to build the fifth and sixth "Constellation" class frigates for the U.S. Navy.

Among smallcaps, Newlat Food soared more than 10 percent the day after it announced that it had signed an agreement to purchase 100 percent of the share capital of Princes Limited, a historic UK-based food group founded in Liverpool in 1880 and currently owned by Mitsubishi Corporation. The consideration set on a debt free and cash free basis is GBP700 million, including GBP650 million to be paid in cash and GBP50 million to be paid in Newlat Food shares.

doValue -- in the green by 9.0% -- is close to an agreement with a pool of banks for about EUR450 million in credit facilities, according to an article published by Bloomberg. This is "a key step" in finalizing the purchase of Gardant Spa from Elliott Investment Management, the article says. According to informed sources told Bloomberg, "doValue is at an advanced stage of negotiations with lenders for financing, which will include a revolving credit facility of around EUR100 million."

Antares Vision, on the other hand, raised 1.2 percent. The company reported Monday that it closed 2023 with a loss of EUR99.6 million, worsening from a loss of EUR503,000 in 2022. Operating income was negative EUR2.8 million from a positive EUR5.5 million a year earlier.

Among the bearish performers, Monrif gave up 3.1 percent, after 0.5 percent green on the eve.

Last wagon for Landi Renzo, which contracted 5.3 percent on the day when quarterly results are expected.

Among SMEs, the board of Promotica -- flat at EUR1.86 -- approved the completion of a transaction by its subsidiary, Grani & Partners, in which Promotica holds an 80 percent stake. Lindbergh rises 3.7 percent after it announced Tuesday that it has signed a three-year agreement with LVMH Italy to manage circular economy services and projects in Italy.

Casta Diva Group -- in the red by 4.3% -- on Tuesday reported that it ended 2023 with revenues of EUR110.8 million, up 33% to EUR83.6 million as of Dec. 31, 2022. Value of production was EUR111.5 million, up 33% from EUR83.9 million.

GO internet, on the other hand, collected 9.6 percent. The company and Tessellis -- up 4.3 percent on the SmallCap -- announced Monday that the conditions precedent for the investment agreement signed between Tessellis, OpNet and GO internet for the realization of Tessellis' previously announced investment transaction in GO internet had been fulfilled. The companies, therefore, agreed to proceed with the closing of the transaction.

Among currencies, the euro changes hands at USD1.0849 from USD1.0876 on Wednesday in European equities closing while the pound is worth USD1.2754 from USD1.2778 on Wednesday evening.

Among commodities, Brent crude is trading at USD84.41 per barrel from USD83.86 per barrel on Wednesday. Gold, on the other hand, trades at USD2,353.38 an ounce from USD2,359.12 an ounce on Tuesday evening.

In the States, the Dow Jones gave up 0.6 percent, the S&P closed just above par, and the Nasdaq rose 0.6 percent.

Among Asian exchanges, the Nikkei closed down 0.8 percent, the Hang Seng is giving up 2.0 percent, and the Shanghai Composite is marking a 0.2 percent loss.

On Wednesday's macroeconomic calendar, at 1000 CEST from Italy, business and consumer confidence will be coming in, followed an hour later by Germany's inflation.

At 110 CEST, from Italy, a six-month BOT auction is scheduled.

At 1300 CEST, from the U.S., the mortgage market report will be due. At 1945 CEST, Williams of the FOMC will give a speech while at 2230 CEST, the report on weekly oil stocks will be released.

On the corporate calendar in Piazza Affari, Ecosuntek and Illa's accounts are expected.

By Maurizio Carta, Alliance News reporter

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