(Alliance News) - On Wednesday, the Mib continued to trend lower in the third session of the week, after reaching its highest level in over two decades in the previous session.
Data released by Eurostat revealed a slowdown in consumer price inflation to 2% in December, the lowest in the past four months, bringing the figure close to the European Central Bank's medium-term symmetric target.
On the domestic front, Italy's annual inflation rate rose to 1.2% in December from 1.1% in November, which had marked a 13-month low. The figure came in slightly above market expectations, which had forecast it to remain unchanged at 1.1%, according to preliminary estimates released by Istat on Wednesday.
As such, the FTSE Mib is down 0.3% at 45,609.76, the Mid-Cap is up 0.1% at 60,139.03, the Small-Cap rises 0.1% to 37,430.90, while the Italy Growth index advances 0.1% to 8,844.64.
London's FTSE 100 slips 0.5%, Paris's CAC 40 drops 0.1%, while Frankfurt's DAX 40 climbs 0.7%.
On the Mib, Italgas leads the pack, gaining 6.5% to EUR10.45 per share.
Telecom Italia – up 1.5% – announced Wednesday it has reached a preliminary agreement with Fastweb and Vodafone to launch cooperation in the development of mobile access networks through a Radio Access Network sharing model, aiming to accelerate the rollout of 5G in Italy. The agreement paves the way for the signing of a definitive contract, expected by the second quarter of 2026.
Enel is also advancing, up 0.8%. Notably, Goldman has raised its price target on the stock to EUR11.00 from EUR10.00 per share.
Diasorin, on the other hand, is falling 0.6%. Barclays has cut its target price to EUR60.00 from the previous EUR105.00.
Saipem is retreating 4.1% to EUR2.50, subject to profit-taking after a four-day rally.
On the MidCap, Caltagirone advances 3.6% to EUR9.70 per share, after dropping 0.4% the previous day.
Acea is also up 2.7% to EUR23.08 per share. During trading, the stock set a new 52-week high at EUR23.26 per share.
Pirelli appreciates by 1.4%. The Italian government is reportedly considering action on the Pirelli dossier, including the possible freezing of voting rights for Chinese shareholder Sinochem, which holds 34%, to protect its business in the US. The news was first reported by the Financial Times, with no official comment from Sinochem or the company. Specifically, the US market accounts for about 20% of the group's revenues and 40% of high-value tire sales.
Salvatore Ferragamo is stepping back 3.4% to EUR8.36, after gaining 6.4% the previous day.
LU-VE, meanwhile, falls 4.5% to EUR38.15, following a 1.1% loss the previous day.
On the Small-Cap, Fidia surges 7.4% to EUR0.1290, taking the top spot on the list.
Trevi Finanziaria Industriale sees solid buying, up 3.5% to EUR0.73, heading for its sixth consecutive bullish session.
Enervit is also advancing by 3.1%, after contracting 1.0% the previous day.
Aeffe lags behind, down 5.8% after a 2.1% loss in the previous session.
Among SMEs, Farmacosmo rises 4.5% to EUR0.6920, heading for its sixth consecutive session in positive territory.
Casta Diva – up 5.3% – has acquired the events division of Prodea Group, as reported by Milano Finanza on Wednesday. The operation was carried out through its subsidiary Nautilus 6 and is part of Prodea Group's negotiated crisis resolution process. The deal was authorized at the end of December by the Turin Court and at the beginning of January by Casta Diva's board of directors.
Doxee, by contrast, is down 3.8% to EUR3.80, after gaining 1.0% the previous day.
Estrima also falls 3.7% to EUR0.13, after two sessions in the green.
In New York on Tuesday, the Dow Jones gained 1.0%, the Nasdaq rose 0.7%, while the S&P 500 advanced 0.6%.
On the currency front, the euro is trading at USD1.1692 from USD1.1688 at Tuesday's close in European equities, while the pound is trading at USD1.3500 from USD1.3498 last night.
Among commodities, Brent is trading at USD60.36 per barrel from USD61.63 per barrel at Tuesday's European equity close, while gold is valued at USD4,464.72 an ounce from USD4,484.32 an ounce last night.
On Wednesday's economic calendar, focus will be on the EIA report at 1630 CET.
By Maurizio Carta, Alliance News reporter
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