(Alliance News) - Piazza Affari is expected to get off to a broadly cautious start on Wednesday, with the market waiting for tomorrow's Bank of England decision to shake things up a bit after a lackluster start to the week from a macroeconomic and corporate perspective.

The FTSE Mib, according to IG futures, is given up just 10.0 points, or less than 0.1 percent, after closing down 0.6 percent at 27,576.11 on Tuesday's session.

In Europe, London's FTSE 100 is given down 12.0 points or 0.2 percent, Paris' CAC 40 is listed down 4.8 points or 0.1 percent, and Frankfurt's DAX 40 is expected to be up just 2.5 points.

In Milan last night, the Mid-Cap gave up 0.6 percent to 42,967.60, the Small-Cap closed in the red 0.6 percent to 27,247.73 while the Italy Growth contracted 0.6 percent to 9,082.97.

On the main basket of Piazza Affari, among the bullish-minority on the list was BPER Banca, up 1.5 percent, in its third bullish session.

Telecom Italia is up 0.6 percent, after reporting that the board met Monday to review, as part of the competitive process related to Netco, the two non-binding bids submitted, respectively, by the consortium formed by CdP Equity Spa and Macquarie Infrastructure and Real Assets (Europe) Limited, acting on behalf of a group of investment funds managed or advised by the Macquarie Group, and Kohlberg Kravis Roberts & Co LP, also known as KKR. TIM's board of directors will complete its review of the bids on June 22.

Terna gained 0.1 percent after announcing Monday that a share buyback program will be launched on June 22, for a maximum outlay of EUR7 million and a total number of ordinary shares not exceeding 1.4 million, representing about 0.1 percent of the company's share capital.

Stellantis, on the other hand, sold 2.3 percent at EUR15.38 per share. As Francesco Bonazzi writes in Alliance News, "the government led by Giorgia Meloni, after receiving a sharp no to the hypothesis of entering the capital of the French carmaker, is looking for other manufacturers to come and produce cars in Italy. "Our incentives go largely to cars produced abroad," said Minister of Enterprise and Made in Italy, Adolfo Urso.

"The automotive situation in Italy is close to collapse, due to the few orders from Stellantis and the fact that we do not have other domestic manufacturers of sufficient size. Yesterday, Minister Adolfo Urso, at the end of the union tables on the situation of the sector, broke an age-old taboo, for Italy, wishing for the descent of other automotive causes in the Peninsula," Bonazzi stressed.

Mediobanca closed 1.1 percent in the red after it announced Monday that Compass, the group's consumer credit company, has signed an agreement to take over 100 percent of HeidiPay Switzerland from HeidiPay, a fast-growing Swiss financial company specializing in Buy Now Pay Later, with more than 400 commercial agreements with major distributors, luxury brands and technology operators, active in the territory.

Tenaris, on the other hand, gave up 2.4 percent, closing for the third session in a row among the bearish.

On the Mid-Cap, good session for Seco, which rose 1.6 percent after two bearish sessions.

OVS, on the other hand, picked up a plus 1.2 percent, rearing its head again after two sessions closed lower.

On a negative note, GVS gave up 3.1 percent, following the 1.8 percent decline in the eve.

Maire Tecnimont closed down 0.4 percent after announcing Tuesday that its subsidiaries part of the Integrated E&C Solutions and Sustainable Technology Solutions business units won new contracts worth a total of about USD260 million from international clients mainly in Europe, Asia and South America.

Rai Way lost 1.6 percent after rising 2.0 percent on the eve of the day.

Technogym, on the other hand, rallied 0.7 percent after announcing Monday that it has unveiled its medium-term profitable and sustainable growth targets. Revenues are expected to grow at an average annual rate of about 10 percent due to the launch of new products, digital and AI solutions, entry into new markets, and growing interest in exercise protocols aimed at health. Adjusted Ebitda margin is expected to grow between 40 and 70 basis points annually due to economies of scale, quality improvement, logistics optimization and supply chain control.

On the Small-Cap, buying on Il Sole 24 Ore, which brought home a plus 4.8 percent after Monday's 1.7 percent decline at the close.

Boost also on Gequity, which moved up 3.4 percent after two sessions closed in the red.

algoWatt gave up more than 12 percent. The company announced Monday that it had approved its new business plan to 2025, consistent with the proposed updated financial maneuver announced earlier to the market and to "exit the current state of financial stress, through the modification of the business model and a review of the company's strategic and financial objectives," as specified in a note.

The plan estimates value of production growth of 51 percent, with cumulative revenues of about EUR134 million, with intermediate revenue targets of about EUR18 million in 2023, EUR42 million in 2024 and EUR64 million in 2025.

Also trailing behind was Fidia, which posted a 3.3 percent decline after a 0.4 percent loss on the eve.

Among SMEs, Deodato.Gallery gave up 6.7 percent, in its fifth session on the bearish side of the list.

GO internet's board of directors -- down 6.0 percent -- on Friday approved the new 2023-2027 business plan drafted in line and continuity with the previous plan approved on June 8, 2020. The plan forecast revenues between EUR15.5 and EUR16.5 million, Ebitda between EUR2.5 million and EUR3.0 million, an Ebitda margin between 17 percent and 18 percent, and a negative Net Financial Position between EUR2.8 and EUR2.0 million.

Ecosuntek, on the other hand, rallied 5.0 percent, rearing its head again after two sessions of decline.

In Asia, the Nikkei is up 0.6 percent to 33,591.45, the Shanghai Composite falls 0.8 percent to 3,215.05 and the Hang Seng is down 1.9 percent to 19,235.09.

Among U.S. exchanges on Tuesday, the Dow Jones closed 0.7 percent in the red at 34,053.87, the Nasdaq lost 0.2 percent to 13,667.29 while the S&P left 0.5 percent on the sidelines at 4,388.71.

Among currencies, the euro changed hands at USD1.0912 against USD1.0901 at Tuesday's European equities close. In contrast, the pound is worth USD1.2773 from USD1.2740 last night.

Among commodities, Brent crude is worth USD76.17 per barrel versus USD75.38 per barrel at Tuesday's close. Gold, meanwhile, trades at USD1,935.63 an ounce from USD1,934.87 an ounce last night.

On Wednesday's macroeconomic calendar, at 1300 CEST, from the US will come the mortgage market report.

At 1600 CEST, a speech by Federal Reserve Number One Jerome Powell is scheduled, as well as Governors Cook and Jefferson. At 2200 CEST, it will be Mester's turn.

At 2230 CEST, focus on the U.S. weekly oil stocks data.

Among the stock market listings, no special events are expected.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

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