(Alliance News) - European stock markets moved in a bullish trend Wednesday, with trading rooms welcoming signs of easing inflationary pressure. The euro area's annual rate was 9.2 percent in December, down from 10.1 percent in November, Eurostat reported Wednesday. A year earlier, the rate was 5.0%.

In the UK, the rate slowed to 10.5 percent in December as expected, moving further away from the 41-year high of 11.1 percent reached in October, while the core rate was unchanged at 6.3 percent.

Also of note was how the Central Bank of Japan confirmed its highly accommodative monetary policy, with officials also confirming the band ceiling on the interest rate on the 10-year bond at 0.5 percent.

The FTSE Mib, therefore, rises 0.2 percent, breaking through 26,000 points to 26,039.93 and marking a new 11-month high.

In Europe, London's FTSE 100 is in the green by 0.2 percent, Paris's CAC 40 is up 0.1 percent, and Frankfurt's DAX 40 is in perfect parity.

Among the smaller lists, the Mid-Cap is down 0.7 percent to 42,763.66, the Small-Cap is up 0.3 percent to 29,600.58, and Italy Growth is just above par at 9,561.30.

On the bluechip list, Tenaris rises 5.2 percent, on the heels of eve's green close of 3.0 percent and placing itself at the top of the list since the bell rang.

BPER Bank, on the other hand, moves ahead 1.7% to EUR2.22. It is worth mentioning that on the stock Deutsche Bank started hedging with fair value at EUR2.60.

Good session also for Saipem, which moves ahead by 5.3% after the 0.9% loss on the eve.

Stellantis sales -- up 0.2% -- in December bucked the performance of the European market, where registrations rose 12.8%. As data from ACEA, the European Automobile Manufacturers' Association, showed Tuesday, the merged giant of PSA Groupe and Fiat Chrysler Automobiles posted a 10.3 percent drop in sales in December, having registered 159,425 cars compared to 177,712 in December 2021, with market share falling to 14.6 percent from 18.7 percent.

On the bearish side, Telecom Italia gives up 1.0%, after two sessions closed positive.

Pirelli, on the other hand, gives up 0.1%, after finishing two sessions in positive territory.

On the Mid-Cap, good buying on Webuild, which is bullish with 6.1%.

Tinexta also rises well, posting a plus 2.1 percent. The company announced Wednesday the signing of a binding agreement to acquire a 65 percent stake in Ascertia Limited through its subsidiary InfoCert. Ascertia is a leading player in the digital trust market based in London and also operates in the United Arab Emirates and Pakistan.

The transaction involves the purchase of 65 percent of Ascertia's capital for a consideration of EUR18.3 million plus Net Financial Position, which corresponds to an enterprise value of the company of EUR28.2 million.

High quarters also for Brunello Cucinelli, which marches ahead 4.3% after a 0.8% loss on the eve.

Among the few bearish performers, OVS gives instead 1.3% to EUR2.70 in its fourth session on the bearish side. The company on Tuesday unveiled its investment project concerning the creation of a technological innovation hub and a multifunctional center with a view to sustainability and circular economy. The project involves the hiring of 125 people that include graduates with skills in the world of digital, artificial intelligence and cyber security and specialized figures who will be employed in the rework of garments and activities related to the multifunctional center.

MFE drops-with Class B shares-1.5 percent, placing the price at EUR0.6090 and closing the midcap list.

On the small-cap, Orsero moves ahead 6.2%, heading for the fifth session to end on the upside and marking a plus 12% since the beginning of the year.

Also doing well is ePrice, which rises 4.8%, although the low share price at EUR0.0153 with annual volatility at 120 should be remembered.

At the bottom, Bastogi gives up 3.5 percent, following eve's green with 1.3 percent.

Closing out the list, however, is Netweek, which retreats 8.8 percent after last night's 2 percent gain.

Among SMEs, High Quality Food takes the top spot on the list, advancing 7.4 percent and following up on its 11 percent gain on eve.

Alfonsino, on the other hand, rises 15 percent before going into volatility auction with price at EUR0.6480. The company reported on Tuesday that it had posted revenues of EUR4.6 million in 2022, up 17 percent from EUR3.9 million a year earlier. Orders, on the other hand, rose 20 percent year-on-year to 550,000.

In New York on the European night, the Dow closed down 1.1 percent, the Nasdaq in the green by 0.1 percent, and the S&P 500 closed down 0.2 percent.

Among currencies, the euro changed hands at USD1.0851 versus USD1.0806 at Tuesday's close. In contrast, the pound is worth USD1.2346 from USD1.2277 last night.

Among commodities, Brent crude is worth USD87.00 per barrel from USD85.58 per barrel last night. Gold, on the other hand, trades at USD1,913.80 an ounce from USD1,914.15 an ounce last session.

On Wednesday's economic calendar, at 1300 CET, data on MBA mortgages in the United States are published.

Later, at 1430 CET, come the U.S. producer price index, retail sales data and from Canada the industrial goods price index.

By Maurizio Carta, Alliance News reporter

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