(Alliance News) - European stock markets headed for a bullish open Wednesday, extending gains from the previous session, as investors prepare for the Federal Reserve's latest monetary policy decision expected in the European evening.

On the geopolitical front, nearly ten months after the Oct. 7 attacks in Israel, the war between the Jewish state and Hamas in the Gaza Strip is unabated: the death toll has now exceeded 39,000. Overnight, Hamas political leader Ismail Haniyeh was also killed, who died along with one of his bodyguards in a raid attributed to Israel in Tehran, Iran.

In Asia, the Bank of Japan raised its benchmark rate to 0.25 percent and outlined its plan to reduce bond purchases, while traders remain divided over whether the Bank of England will begin cutting rates this week.

Thus, the FTSE Mib is advancing 0.2 percent to 33,960.91.

Among the smaller listings, the Mid-Cap is advancing 0.4 percent to 47,645.54, the Small-Cap is up 0.4 percent to 29,094.98 while Italy Growth has picked up 0.2 percent to 8,022.29.

In Europe, Paris's CAC 40 is advancing 1.1 percent, London's FTSE100 is up 1.2 percent, and Frankfurt's DAX 40 is posting plus 0.7 percent.

On the Mib, Iveco Group is advancing 3.6 percent. The company announced Tuesday that it bought back 430,000 of its own ordinary shares between July 22 and 26, worth a total of EUR4.3 million.

Recordati, on the other hand, advances 2.6 percent, following the eve's decline of 6.8 percent.

Campari appreciates 2.2 percent, rearing its head again after two sessions closed with a negative balance.

The board of directors of Inwit -- in the red by 0.9% -- on Tuesday reviewed and approved the financial report as of June 30, reporting a net profit of EUR179.1 million, up from EUR163.7 million in the same period 2023.

Sales also on Banca Mediolanum, which is leaving 0.7 percent on the parterre, on the eve of the publication of the accounts.

On the cadet segment, strength on Technoprobe, which advances 3.0% following Tuesday's 0.7% positive balance.

The board of the Caltagirone group -- in surplus by 3.0% -- on Tuesday approved accounts for the first half of the year, in which it reported a net profit of EUR143.1 million, up 12% from the previous year's EUR127.8 million. The net financial position is positive EUR94.9 million, from negative EUR108.4 million as of June 30, 2023, an improvement of EUR203.4 million.

Industrie de Nora, on the other hand, advances 3.5 percent to EUR11.01 per share. Of note, Goldman Sachs cut its target price to EUR14.40 from EUR15.50, confirming its 'buy' recommendation.

The board of directors of Fincantieri -- in the red by 1.0 percent -- on Tuesday reviewed accounting data as of June 30, a period that ended with revenues of EUR3.68 billion, almost unchanged year-on-year. The net financial position shows a debt value of EUR2.42 billion, an improvement from EUR2.81 billion last June, and a slight increase from the figure at the end of 2023, when it stood at EUR2.27 billion.

On the SmallCap, Softlab advances 7.6 percent to EUR1.27 per share, after a 4.8 percent loss on the eve.

The board of directors of Zest -- in the money with 4.6 percent -- on Wednesday evening reviewed and approved the financial results attributable to the activities conducted until March 31, recording a positive change of EUR400,000 from EUR200,000 in the first quarter of 2023, "to which the sale of the stake held in Futura contributed," the company wrote in the released note.

Instead, Mondo TV moves ahead 3.4 percent, rebounding after four bearish sessions.

At the tail end, Fidia closes the convoy, which gives up 5.4 percent after 3.3 percent red on eve.

Among the PMIs, Cofle - in the green by 4.1% - rears its head again after two sessions closed in a bearish trend.

expert.ai, on the other hand, is advancing 3.6 percent, on the heels of the eve's gain that closed with plus 9.5 percent.

At the tail end, H-Farm is giving up 6.3 percent, in its third bearish session.

In New York last night, the Dow rallied 0.5 percent, the Nasdaq gave up 1.3 percent, and the S&P 500 contracted 0.5 percent.

Among Asian exchanges, the Hang Seng is picking up 2.0 percent as is the Shanghai Composite, while the Nikkei is up 1.5 percent.

Among currencies, the euro changes hands at USD1.0816 versus USD1.0804 in Tuesday's European stock close while the pound is worth USD1.2832 from USD1.2832 Tuesday evening.

Among commodities, Brent crude trades at USD79.45 per barrel from USD79.63 per barrel at Tuesday's close. Gold, on the other hand, trades at USD2,417.98 an ounce from USD2,388.04 an ounce last night.

Wednesday's macroeconomic calendar features Germany's unemployment rate report at 0955 CEST.

From Italy, at 1000 CEST, it will be the turn of industrial sales, followed an hour later by the inflation figure for both Italy and the Eurozone. At 1200 CEST, from Italy, it will be the turn of the producer price index instead.

From the States, in the afternoon, it will be the turn der report on mortgages at 1300 CEST, followed at 1430 CEST by the ADP data, i.e., nonfarm employment. At 1630 CEST, coming up is the oil stocks data, the EIA report and the Cushing inventory. The FOMC interest rate decision will close the day, with the press conference to follow thirty minutes later.

Among companies-among many coming in-are expected interim results from Almawave, Anima Holding, Banca Sistema, Gabetti, Geox, Hera, Mediobanca, Prysmian, RCS, Saras, Snam, and Telecom Italia.

By Maurizio Carta, Alliance News reporter

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