(Alliance News) - Equity markets are positioned for a bearish open Wednesday as investors react to the latest UK inflation data, which remained largely unchanged in June.

The annual inflation rate in the U.K. remained steady at 2.0 percent in June, unchanged from May, and remained at 2021 lows even though market forecasts were pointing to 1.9 percent. The data were published Wednesday by the Office for National Statistics.

The FTSE Mib-after closing just below par at 34,369.19 last night-is giving up 37.50 points.

In Europe, Paris's CAC 40 is giving up 17.80 points, London's FTSE 100 is advancing 6.00 points, and Frankfurt's DAX 40 is giving up 23.70 points.

Among the smaller listings last night, the Mid-Cap closed up 0.4 percent to 48,715.98, the Small-Cap rallied 0.1 percent to 29,117.41, and Italy Growth rallied 0.1 percent to 8,135.13.

On the Mib last night, boost on FinecoBank, which rose 3.3 percent to EUR15.75 per share. The stock during the session updated its 52-week high to EUR15.81 per share.

Strength also on Banca Popolare di Sondrio, which moved up 2.4 percent, rearing its head after three sessions closed with a bearish trend.

Prysmian, on the other hand, rose 2.2%, after two bearish sessions.

Mediobanca, on the other hand, closed up 0.9% at EUR14.41 per share. Of note, UBS raised its target price on the stock to EUR15.70 from EUR15.60 with a 'buy' recommendation.

UniCredit - in the green by 0.8 percent - reported Tuesday the purchase of 2.1 million shares between July 8 and 12, at an average price of EUR36.9601 for a total value of EUR79.2 million. Following these purchases and since the start of the third tranche of the buyback, UniCredit holds 13.3 million shares or 0.8 percent of the share capital.

On the Mid-Cap, boost on Maire Tecnimont, which brought home a plus 3.1 percent, on its fifth bullish candlestick session.

d'Amico, on the other hand, equally rallied 3.1% to EUR7.27 per share, rearing its head after three sessions closed among the bearish.

CIR - up 0.2 percent - reported Monday that it had purchased 1.4 million of its own ordinary shares between July 8 and 12. The shares were taken over at an average price per share of EUR0.6034, for a total value of EUR832,000.

Alerion, on the other hand, gave up 3.2 percent to EUR15.30, in its third bearish session.

On the Small-Cap, boost on Italian Exhibition Group, which took home 4.7 percent to EUR6.68, on its third session closed with a bearish candle.

Safilo - in the red by 0.4 percent - reported Tuesday that it bought back 389,736 of its own ordinary shares between July 8 and 12. The shares were taken over at an average unit price of EUR1.0830, for a total value of about EUR422,000.

Banca Sistema advances 4.6 percent to EUR1.58 per share, ringing in its third bullish session.

Sell-offs, among the many, on Exprivia, which closed down more than 12 percent after a 0.3 percent green on eve, which followed a bearish four days.

Among SMEs, strength on Health Italia, which is up 8.0% to EUR105.00 per share after two bearish sessions.

Deodato.Gallery - flat at EUR0.39 - on Tuesday unveiled Pizza Art Box, the latest project resulting from a collaboration with Crazy Pizza, the youngest of the Majestas Group brands. The artist chosen for the first Pizza Art Box is Marco Lodola, one of the best known and most appreciated contemporary Italian artists, one of the founders of the New Futurism artistic current and famous for his scenographic light sculptures.

Farmacosmo - in the red by 2.2 percent - announced that it has established Farmacosmo Logistics Srl, to which the logistics activities currently carried out by the company will be transferred.

Caribbean Company gave up 6.0%, with price at EUR1.02, subject to profit taking after three bearish sessions.

In New York overnight Europe, the Dow rallied 1.9 percent, the Nasdaq closed in the green by 0.2 percent, and the S&P 500 was up 0.6 percent.

Among Asian exchanges, the Nikkei gave up 0.4 percent, the Shanghai Composite is giving up 0.3 percent, while the Hang Seng is advancing 0.2 percent.

Among currencies, the euro changed hands to USD1.0902 from USD1.0884 in Tuesday's European stock close while the pound is worth USD1.2975 against USD1.2958 last night.

Among commodities, Brent crude is trading at USD83.49 per barrel from USD84.03 per barrel at Tuesday's close. Gold, on the other hand, trades at USD2,463.56 an ounce from USD2,464.92 an ounce Tuesday night.

Wednesday's macroeconomic calendar includes, at 1100 CEST the Eurozone inflation figure.

From the US, at 1300 CEST, the mortgage data will be released, while at 1430 CEST the various reports on the housing market will be available.

At 1630 CEST, the crude oil stocks data, Cushing inventory and the EIA report will be released.

Among the companies in the Italian stock market, Altea Green Power will release its half-year results.

By Maurizio Carta, Alliance News reporter

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