(Alliance News) - European markets are expected to fall on Thursday, following losses in global markets as investors took profits after a strong rally that began in late October.

Investors will cautiously await U.S. GDP data this afternoon and the core PCE index on Friday to better guide the monetary policy outlook. Meanwhile, markets will assess French business confidence and Italian manufacturers' inflation data.

According to IG futures, the FTSE Mib, therefore, is expected to be in the red by 197.5 points or 0.7 percent after closing fractionally in the red at 30,361.21.

In Europe, London's FTSE 100 is expected to open down 43.8 points or 0.6 percent, Paris' CAC 40 is given down 52.7 points or 0.7 percent, and Frankfurt's DAX 40 is expected to fall 89.4 points or 0.5 percent.

Among Italy's smaller lists on Wednesday evening, the Mid-Cap rallied 0.4 percent to 44,377.67, the Small-Cap advanced 1.0 percent to 27,518.58, and Italy Growth closed in the fractional red at 8,114.32.

On the Mib, Telecom Italia advanced 5.8 percent to EUR0.2960, after declining 0.4 percent on the eve and bringing the weekly close to a positive balance of 15 percent.

Inwit, on the other hand, advanced 1.3%, after a 0.4% gain on the eve, with price at EUR11.45 per share.

Iveco advanced 1.4 percent after reporting that Iveco Bus, the group's city, intercity, and touring bus brand, will supply 153 new electric buses to Azienda Trasporti Milanesi Spa, which operates public transport in Milan and its hinterland. The contract, worth more than EUR120 million, is part of ATM's strategic plan to offer increasingly sustainable and accessible mobility.

Banca Monte dei Paschi di Siena -- down 0.7 percent -- announced Wednesday that it has strengthened its leadership in the agrifood sector with a new digital collection and payment solutions offering developed together with Nexi -- down 0.1 percent -- for wine and agritourism businesses. This initiative is part of Banca MPS's broader strategy to support the agrifood, agricultural-recreational and dop economy sectors, confirming its historical focus on the needs of the primary sector, a key asset of the country's economy.

Stellantis gave up 0.2 percent after ACEA's November data showed, for the group, a 7.3 percent drop in sales in Europe compared to November 2022. In the European market, however, registrations were up 6.7 percent compared to November 2022.

On the Mid-Cap, Seco closed up 1.1 percent at EUR3.50. Worth mentioning, Goldman Sachs cut its target price to EUR4.40 from EUR7.10 with a 'buy' recommendation.

Sesa advanced 0.8 percent. The company announced Tuesday that it had approved results for the six-month period ended October 30 with a net profit of EUR41.6 million from EUR41.1 million in the same period a year earlier. Adjusted net income attributable to the group was EUR50.1 million from EUR45.9 million as of Oct. 30, 2022, up 9.1 percent year-on-year. Revenues and other income grew 15 percent to EUR1.50 billion from EUR1.31 billion in the same period 2022.

Maire Tecnimont also did well, up 2.1 percent. The company reported Wednesday that Conser, licensor of biodegradable plastics technologies and a subsidiary of Nextchem, a Maire Group company, has been awarded by a major client the licensing of the technology and the supply of the catalyst as part of a larger project located in northwestern China.

Credito Emiliano -- in the green by 1.1 percent to EUR8.01 -- reported Tuesday that Credito Emiliano Holding Spa bought 740,000 ordinary shares in the bank. The shares were taken over at an average unit price of EUR8.1832, for a total consideration of EUR6.1 million.

Industrie De Nora - in the red by 5.6 percent - closed on the bottom. The company, with H2U Technologies, a developer of next-generation electrolyzers, announced on Monday a research agreement to identify and develop low-cost, high-performance electro-catalysts for the production of hydrogen through water electrolysis.

Mutuionline, on the other hand, gave up 3.0 percent to EUR31.90 per share, down after a four-session bullish trend.

On the Small-Cap, Olidata advanced 5.7 percent, on the heels of eve's 1.0 percent gain.

Tessellis closed ahead 8.5 percent with price at EUR0.5110, following eve's decline with 0.8 percent.

In contrast, d'Amico advanced 6.0% with price at EUR6.17 per share. The stock thus updated its 52-week high.

Openjobmetis, on the other hand, ended at the bottom, having given up 5.9% and been suspended. The company announced Tuesday that it had signed a preliminary agreement to acquire 100 percent of the capital of Just On Business Spa and 100 percent of the capital of its subsidiary Deine Group Srl. The agreed consideration is EUR29.7 million to be paid in cash. A three-year non-compete agreement with the founding partners is also to be signed for a total of EUR2.2 million.

Fidia, on the other hand, gave up 0.8 percent after an intrdaday decline to 6.6 percent with final price at EUR1.12, following a 3.4 percent decline in the previous session.

Among PMIs, Eles advanced 7.6 percent, on the heels of eve's green, albeit by a modest 0.7 percent.

Implants closed up 5.7 percent at EUR0.50 per share, following eve's 3.1 percent contraction.

SG Company Società Benefit closed up 6.0% after reporting Wednesday that its wholly owned subsidiary NET-SG Srl has signed a commercial and consulting agreement with Lorenzo De Rosa, sole director and legal representative of Antimateria Srl, which will start on January 1, 2024.

On a negative note, Energy gave up 7.4 percent, its eighth session in a row among the bearish.

In Asia, the Nikkei closed 1.6 percent in the red at 33,140.47, the Hang Seng gave up 0.1 percent to 16,610.00 and the Shanghai Composite rose 0.6 percent to 2,920.11.

In New York,the Dow closed 1.3 percent in the red, the Nasdaq gave up 1.5 percent as did the S&P 500.

Among currencies, the euro changed hands at USD1.0949 against USD1.0955 recorded at Wednesday's European stock close while the pound is worth USD1.2646 from USD1.2659 on Wednesday evening.

Brent crude is worth USD79.66 per barrel versus USD80.05 per barrel at Wednesday's close. Gold, meanwhile, trades at USD2,035.59 an ounce from USD2,034.30 an ounce on Wednesday evening.

Thursday's macroeconomic calendar predicts, at 1100 CET, from Istat will come the data on the producer price index in Italy.

From the US, at 1430 CET, will be the vote on continuing unemployment claims, PCE price index and GDP. At 1730 CET, an auction of four- and eight-week Treasury bills is scheduled, while at 2230 CET, the Federal Reserve's weekly balance sheet will be released.

Among the companies in the business square, no particular announcements are expected.

By Chiara Bruschi, Alliance News reporter

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