(Alliance News) - Markets without an unambiguous direction Wednesday in the Old Continent, after - in the European night - in Wall Street the Dow Jones closed up 0.3 percent, the S&P 500 flat and the Nasdaq Composite down 0.4 percent.

"With markets currently in something of a 'gray area' between Friday's U.S. payrolls report and today's March CPI numbers, the picture regarding the Fed's next move on rates may become a bit clearer, even though last week's economic data largely indicated some weakening of the U.S. economy," commented CMC markets analyst Michael Hewson.

Markets expect the annual inflation rate to cool to 5.2 percent from 6.0 percent, according to FXStreet. Compared to the previous month, consumer prices are expected to rise 0.4 percent, up from 0.5 percent in February. Core inflation -- excluding food and energy -- is expected to rise to an annual 5.6 percent from 5.5 percent in February.

"Rising core inflation is what the Fed is most concerned about, particularly in services, which have continued to rise, and will likely guide monetary policy decisions going forward," Hewson considered.

Thus, the FTSE Mib, advances 35.00 points, after closing up 1.2 percent at 27,525.51 last night.

Among the smaller listings on Wednesday, the Mid-Cap closed up 0.5 percent to 43,765.65, the Small-Cap gained 0.1 percent to 29,854.94, while Italy Growth lost 0.7 percent to 9,456.75.

In Europe, London's FTSE 100 is giving up 3.00 points, Paris' CAC 40 is giving up 1.00 point, while Frankfurt's DAX 40 marks a rise of 11.00 points.

On the main list of Piazza Affari - last night - Saipem gained 3.3 percent, as did Banca Monte dei Paschi di Siena.

Azimut Holding - up 0.6 percent - reported Tuesday that it recorded positive net inflows of EUR621 million in March, bringing that since the beginning of the year to EUR2.6 billion. In March alone, 83 percent of net inflows were directed into asset management products. Total assets including assets under administration stood at EUR83.0 billion at the end of March, of which EUR57.3 billion refer to assets under management.

High quarters also for CNH Industrial, which rose 2.9 percent. The company reported that its subsidiary CNH Industrial Capital completed its USD600 million bond offering, with a coupon of 4.550% and maturity in 2028, with an issue price of 98.9%. Net proceeds from this offering were approximately USD588 million, after payment of the offering and other related expenses.

Eurizon Capital SGR, the asset management division of Intesa Sanpaolo--up 0.8 percent--reported Thursday that it has signed an agreement to take over 55 percent of Gruppo Zaffiro, an Italian company active in social and health care services. The deal is expected to close during 2023, subject to obtaining approvals from the relevant authorities.

The current shareholders of Gruppo Zaffiro are Mittel with 60 percent and Blustone with 40 percent, the latter headed by the founder, Gabriele Ritossa.

FinecoBank rose 1.9 percent after reporting Thursday that net inflows in March were positive at EUR1.1 billion, bringing inflows since the beginning of the year to EUR2.7 billion.

Assets under administration totaled EUR1.6 billion and assets under management EUR155 million. The latter was driven by Fineco Asset Management's inflows of EUR423 million, able to intercept outflows from insurance of EUR421 million. The funding mix is influenced by the interest rate environment and volatility in the markets: in March, the transformation of non-transactional liquidity of EUR594 million towards both equity and bonds continued, also favored by the placement of the new BTP Italia for EUR423 million, in line with previous issues.

On the Mid-Cap, the Anima group's net asset management inflows - down 0.3 percent - in March 2023 were negative EUR493 million; at the end of March, total assets under management by the Anima group stood at more than EUR182 billion.

It does best of all illimity Bank, in the green by 2.8 percent, followed by MFE's B shares, up 2.6 percent.

At the bottom was LU-VE, down 2.4 percent.

On the Small-Cap, Greenthesis rose 1.7 percent after it reported that it ended 2022 with a net profit of EUR18.6 million, up from about EUR10.0 million a year earlier.

Revenues were EUR171.7 million against EUR155.9 million in the previous year. Specifically, the main business areas Disposal, Treatment and Recovery, Environmental Remediation, and Energy Production recorded an increase of 13 percent, an increase of 0.7 percent, and an increase of 80 percent, respectively, compared to the actual figures for the same period in the previous year.

PLC traded up 0.4 percent after announcing on Wednesday that it had finalized the closing of the extraordinary transaction to sell 100 percent of the share capital of the Irish-registered company Monsson Operation Ltd and all companies directly and indirectly controlled by it, which constitute the Monsson perimeter, to the Luxembourg-registered company Monsson Sarl.

On the SME list, Saccheria F.lli Franceschetti closed in the green by 1.6 percent, after announcing Tuesday that it had won the tender called by the Poste Italiane group -- in the green by 1.2 percent on the Mib -- for the supply and delivery of mail sacks for Postel, a Poste Italiane group company specializing in document management and communication services to support public and private companies.

The total award amount is about EUR2.5 million, including the CONAI fee; the duration of the contract is 18 months.

MeglioQuesto in the red by 0.7 percent after announcing that it has signed a binding agreement with the sellers of the investee MQ Digital, Pierluigi Ghiani and Francesco Simula, aimed at the subscription by them of a capital increase in MeglioQuesto reserved for them against the offsetting of the amounts still due as price balance totaling EUR3.5 million and payment of the earn-outs guaranteed under the sale and purchase agreement for an additional EUR3.5 million.

Deodato.Gallery closed down 2.9 percent after announcing Tuesday that it represents Liu Bolin, an internationally renowned Chinese artist, having territorial exclusivity for his works in Belgium and Switzerland.

The company has signed an agreement with the artist for four years, extendable to five, and involves a total investment of EUR1.5 million. More than 20 works by Liu Bolin have already entered the collection, and Deodato.Gallery is organizing an exhibition in its galleries on the Swiss territory in the coming months.

Among Asian marketplaces, the Hang Seng is giving up 0.7 percent, the Shanghai Composite is picking up 0.4 percent, and the Nikkei has moved up 0.6 percent.

Among currencies, the euro changed hands at USD1.0928 against USD1.0909 at Tuesday's close. In contrast, the pound is worth USD1.2435 from USD1.2419 last night.

Among commodities, Brent crude is worth USD85.70 per barrel versus USD85.33 per barrel Tuesday night. Gold, meanwhile, trades at USD2,017.41 an ounce from USD2,019.65 an ounce at yesterday's close.

On Wednesday's economic calendar, a 12-month Treasury note auction is expected at 1130 CEST.

Overseas, at 1300 CEST it is the turn of the US 30-year mortgage rate.

At 1430 CEST comes inflation data from the United States.

At 1600 CEST it is the turn of the Bank of Canada's monetary policy report, and half an hour later, again from the United States, data on crude oil stocks are expected.

Among the companies listed in Piazza Affari, the results of Bastogi and CleanBnB are expected.

By Maurizio Carta, Alliance News reporter

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