(Alliance News) - On Wednesday, European stock markets opened without following a single direction as investors await further insights into when major central banks will begin lowering interest rates, with the Fed expected to "open the dance" starting with its March meeting.

The probability of a rate cut by Eccles Building for the third month of the year is currently 64 percent, well below the nearly 90 percent probability seen a week ago. Analysts have suggested, however, that May would be-more likely-than not the start of the easing cycle, by virtue of the fact that the U.S. labor market remains strong and inflation remains above the star-studded central bank's 2 percent target.

Thus, the FTSE Mib marks a green of 0.2 percent at 30,459.38.

In Europe, Paris's CAC 40 is giving up 0.1 percent, London's FTSE 100 is giving up 0.3 percent while Frankfurt's DAX 40 is moving just above par.

Among the smaller listings Wednesday morning, the Mid-Cap is giving up 0.1 percent to 44,375.43, the Small-Cap is advancing 0.1 percent to 28,034.20, while Italy Growth is in the fractional red at 8,283.42.

On the main list of Piazza Affari, Campari is giving up 5.8 percent to EUR9.34 per share. The company announced Wednesday morning that it had successfully placed both EUR650 million of new shares and a EUR550 million bond maturing in 2029, for a total of EUR1.2 billion raised.

BPER Banca -- in the red by 0.2 percent -- reported that, following the conclusion of book-building activities, it successfully completed a EUR500 million Additional Tier 1 bond issue with perpetual maturity and callable "callable" from year five.

Recordati, on the other hand, is giving up 0.9 percent, with new price at EUR48.48 per share, after two sessions closed with bullish candlestick.

Bond issue also for UniCredit, which is raising 0.3 percent. The bank successfully placed a Tier 2 bond in the amount of EUR1.00 billion, aimed at institutional investors. The bond, with a maturity of 10 years and 3 months callable after 5 years and 3 months, pays a fixed coupon of 5.375% until April 2029 and has an issue price of 99.847%, equivalent to a spread of 280 basis points over the benchmark swap rate.

Iveco, on the other hand, advances 2.6 percent, in its fifth bullish session.

On the mid-cap, Saras advances 1.4 percent, on the heels of the previous session's 2.9 percent green.

The "buy" side also prevails on Maire Tecnimont, which moves ahead 0.8% after a 0.4% loss on the eve of the session.

Technogym - in the red by 0.6 percent - continues with its buyback program. Most recently, it reported Wednesday that it bought back 112,372 of its own ordinary shares between Jan. 2 and Jan. 5, for a total value of about EUR996,000.

Sales also on Acea, which settled in the rear giving up 0.6 percent after 2.5 percent green on the eve.

On the Small-Cap, Giglio Group is advancing 4.7 percent, bringing the price to EUR0.4870.

It does even better for Caleffi, which shows a bullish candle of 4.9%. The stock-which has been missing the ex-dividend since 2017-positions its snout toward its third bullish session.

At the tail end, Autostrade Meridionali is giving up 9.0%, reeling on profit taking that comes after three sessions of marked uptrends.

Among the SMBs, Deodato.Gallery is the locomotive, moving ahead 4.1% to EUR0.45. The stock-rated by a single analyst on the MarketScreener platform-shows a target price of EUR1.20, thus being under-priced by more than 172 percent.

In contrast, Estrima advances 4.0%, rearing its head again after a downtrend that had lasted for several sessions.

In New York on the European night, the Dow Jones gave up 0.4 percent, the S&P gave up 0.2 percent while the Nasdaq picked up 0.1 percent.

Among Asian marketplaces, the NIkkei rallied 2.0 percent, the Hang Seng gave up 0.6 percent while the Shaghai Composite retreated 0.5 percent.

Among currencies, the euro changes hands at USD1.0929 against USD1.0926 recorded in Tuesday's European stock close while the pound is worth USD1.2693 from USD1.2710 last night.

Brent crude is worth USD77.98 per barrel versus USD77.65 per barrel at Tuesday's close. Gold, meanwhile, trades at USD2,032.07 an ounce from USD2,029.24 an ounce last night.

On Wednesday's macroeconomic calendar, at 1000 CET, will come the Italian retail sales data while, at 1110 CET, a 12-month BOT auction is scheduled.

At 1300 CET, the US mortgage market report will be released, followed at 1600 CET by wholesale trade data. This will be followed at 1630 CET by the EIA refinery count and the Cushing inventory. At 1900 CET, an auction of Treasury securities with a 10-year maturity is scheduled instead. Also of note is the speech by FOMC member Williams, which will be held at 2115 CET.

Among the companies in the Square Business, no particular announcements are expected.

By Maurizio Carta, Alliance News reporter

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