(Alliance News) - The FTSE Mib Index fell slightly around 26,950 Wednesday, extending losses for the second consecutive session. Market sentiment remained fairly weak as fears of a slowing global economy and high inflation continue to be a concern for traders.

On the monetary policy front, in the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate or EFFR, the main rate hike for the May 3 meeting has a 58 percent probability priced in for confirmation in the 475/500 bps range.

In contrast, the probability of an increase in the 500/525 bps area, an increase equivalent to 25 bps, is at 42%. The current target is between 475 and 500 bps.

The FTSE Mib thus marks a 0.3 percent red at 26,943.65. The index -- which marks a put/call ratio at 0.72 -- touched a low of 26,894 and a high of 27,081.

Among the smaller listings, the Mid-Cap is down 0.2 percent to 43,577.46, the Small-Cap is in the red 0.2 percent to 29,798.31, and Italy Growth is in the green 0.2 percent to 9,443.18.

In Europe, Paris' CAC 40 is giving up 0.3 percent, London's FTSE 100 is the only one up, rising 0.3 percent, and Frankfurt's DAX 40 is in the red by 0.4 percent.

On the main list of Piazza Affari, among the bullish is Terna, which brings the price to EUR7.86 with increase of 2.4 percent.

Among the bullish is Leonardo, which marks a plus 1.3% bringing the price to EUR11.19 in its third bullish session if confirmed until the close.

Ferrari is also doing well, with the Cavallino stock advancing 1.8% to EUR252.60 on the heels of a 0.2% gain on the eve of the session.

Iveco Group, on the other hand, gives up 2.9% to EUR8.17 per share heading into its fourth bearish session.

On the Mid-Cap, Brunello Cucinelli has been in good shape since the bell rang, up 2.9% after two sessions ended in a bearish trend.

The buy side also prevails on Iren, which advances with 2.6 percent after two sessions in the red and assets since the beginning of the year rising to 23 percent.

Contraction for Industrie De Nora, which marks a minus 4.7% at EUR17.61 per share. Snam - in the money by 2.1% - reported that the sale of 11.5 million ordinary azinoi of Industrie De Nora Spa to institutional investors was completed. The shares were sold at a unit price of EUR17.08, for a total consideration of EUR196 million. Initially, there were 10 million shares to be sold, but due to high investor demand, this number was increased to 11.5 million.

Brembo, on the other hand, gives up 2.4 percent to EUR13.54 per share, breaking a five-session uptrend.

On the Small-Cap, SS Lazio advances well, posting a plus 2.8% following the previous two bullish sessions. On the Capitoline club, it is reported that it has announced that it has definitively acquired the right to the sports performance of footballer Diego Luis Gonzalez Alcaraz, from FC Celaya, affiliated with the Mexican Football Federation. The definitive sale includes fixed consideration of EUR1.1 million to be paid in two installments. Premiums, capped at EUR1.5 million will be paid to FC Celaya upon the occurrence of agreed sporting conditions.

In red, the dominant color of the list, Gequity is giving up 8.0 percent, placing it in the rear.

Rear-ends also for Bioera, which retreats 3.9%% to EUR0.12 after hitting 52-week lows at EUR0.1190.

Among SMBs, FAE Technology takes the lead, with a positive balance of more than 14% increasing the market cap by more than 52% on the weekly.

SolidWorld Group -- up 3.6 percent -- on Tuesday announced the expansion of its shareholder base and free float with the entry of two leading institutional investors following the purchase from partner Redfish 4 Listing of 99,750 ordinary shares, representing 1.2 percent of the total outstanding ordinary shares and 0.9 percent of the share capital. The shares purchased by the two institutional investors correspond to 0.04% and 1.2% of SolidWorld Group's outstanding common shares to date, respectively.

Fenix Entertainment, on the other hand, gives up 5.4 percent to EUR0.28 per share, subject to profit-taking after eve's double-digit gain.

Datrix, on the other hand, retreats 3.8 percent, following up the eve's red with 4.8 percent.

In New York--on the European night--the Dow Jones closed 0.7 percent in the red, the S&P down 0.6 percent, and the Nasdaq left 0.5 percent on the sidelines.

In Asia, the Shanghai and Hong Kong stock exchanges remained closed for holidays, while the Nikkei left 1.7 percent on the parterre.

Among currencies, the euro changed hands at USD1.0953 versus USD1.0955 at Tuesday's close. In contrast, the pound is worth USD1.2488 from USD1.2500 last night.

Among commodities, Brent crude is worth USD85.40 per barrel versus USD83.98 per barrel Tuesday night. Gold, meanwhile, trades at USD2,024.43 an ounce from USD2,021.55 an ounce at yesterday's close.

On Wednesday's economic calendar, at 0945 CET it will be the turn of Italy's services PMI. Five minutes later it will then be the turn of France's, Germany's and at 1000 CET the Eurozone's.

The same data will be released at 1030 CET for the United Kingdom. At 1100 CET, from Italy, will come the retail sales figure.

At 1300 CET, from the US, focus on the mortgage market report, at 1415 CET the ADP data and at 1430 CET the trade balance.

At 1545 CET, also from the US, will come the tertiary PMI and, at 1630 CET, oil stocks, EIA report and Cushing's inventory.

Of note, the Shanghai and Hong Kong stock exchanges will remain closed for national holidays.

By Maurizio Carta, Alliance News reporter

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