(Alliance News) - The Mib moves bearish on Wednesday, with the point bar in the 34,500 area, extending losses from the previous session and in line with other European exchanges as traders assess the monetary and economic outlook.

Markets are positioning themselves on a cut by the ECB for the June meeting, while for the Fed the move is expected in September, albeit with not a full but 60 percent probability, according to CME platform futures.

Thus, the FTSE Mib is floating in the red 0.2 percent to 34,535.40, the Mid-Cap is gaining 0.1 percent to 47,768.82, the Small-Cap is in the green 0.1 percent to 29,044.68, while Italy Growth is giving up 0.1 percent to 8,236.58.

In Europe, Paris' CAC 40 is giving up 0.5 percent, while London's FTSE 100 is in the red by 0.3 percent, as is Frankfurt's DAX 40.

On the Mib, Enel is marking minus 1.6 percent, in its fifth session with a bearish candle.

Italgas, on the other hand, is giving up 1.6 percent, in its third session with a negative balance.

Stellantis gives up 0.8 percent after ACEA, the European Automobile Manufacturers' Association, released EU car sales in April. The group reported 1.7 percent year-on-year growth while total registrations in the EU market were up nearly 14 percent from April 2023.

Leonardo, meanwhile, advances 2.5 percent to EUR23.98 per share, with the stock updating its 52-week high at EUR23.99.

Banca Monte dei Paschi, meanwhile, advances 1.7 percent to EUR5.06 per share, after two sessions among the bearish.

In the cadet segment, El.En. advances 2.1 percent, after two sessions among the bearish.

Fincantieri - in the green by 0.2 percent - announced Monday that it had signed an agreement with Edge, one of the world's leading advanced technology and defense groups, formalizing the launch of Maestral, the joint venture created between the two companies in the Abu Dhabi-based shipbuilding business. The signing of the agreement was followed by the announcement of a major order for 10 technologically advanced 51-meter OPV offshore patrol vessels by the UAE Coast Guard Forces, worth EUR400 million.

Webuild - ahead 0.1% to EUR2.32 - on Tuesday disclosed that the new La Chapelle ashlar plant in France, serving Lot 2 of the base tunnel of the AC/AV Turin-Lyon railway line, will be operational in June

Cembre is marking minus 3.4 percent, after two bullish sessions.

OVS is also giving way, marking minus 1.6 percent on the heels of the previous session's 0.8 percent red. The company-which is continuing steadily with its buyback plan-most recently announced that it announced Monday that it had bought back 49,414 shares at an average price of EUR2.69130 for a total value of about EUR133,000.

On the Small-Cap, Fidia advances 8.9 percent to EUR0.6120 per share, following a 9.3 percent green in the previous session.

On the other hand, Alkemy advances 5.8 percent, bringing the price to EUR9.42, rebounding after five sessions among the bearish.

CY4Gate moves down 0.3 percent, following a 3.5 percent green in the previous session. The company announced Tuesday that it has been awarded three international research calls under the European Defense Fund and Digital Europe Program worth a total of about EUR1.7 million over three years from 2025, boosting the group's backlog.

At the back of the pack, Softlab is giving up 3.2 percent after a 2.5 percent surplus on the eve of the day, with tri-annual accounts expected next week

Sabaf, on the other hand, is giving up 2.6 percent, following eve's 1.1 percent loss that interrupted an eight-session bullish trend.

Among SMEs, Casta Diva advances 5.9 percent, rearing its head again after nine sessions among the bearish.

Bellini Nautica, meanwhile, advances 5.8 percent, in its third bullish session.

SolidWorld Group advances 8.3 percent after announcing Wednesday that it has filed a patent through its subsidiary Bio3DPrinting for the first 'boosted customization' of human tissue from a patient's original cells by creating ad hoc heads to replicate individual tissue types.

DHH -- in the green by 2.0 percent -- reported Wednesday that the board approved first-quarter figures, ending the period with net income that rose to EUR1.2 million from EUR34,000 last year. Revenues from consolidated sales grew to EUR8.9 million from EUR8.1 million in the first quarter of 2023, up 10 percent.

At the back of the pack, Nusco, on the other hand, gives up 6.3 percent, after 3.7 percent green on the eve.

Erfo Pharmaceutical Laboratory, on the other hand, gives up 3.8 percent, after two sessions in the green.

In New York on Friday, the Dow closed up 0.2% to 19,277.54, the Nasdaq rose 0.2% to 16,832.63, and the S&P gained 0.3% to 5,321.41.

Among currencies, the euro changed hands at USD1.0843 from USD1.0855 on Tuesday in closing European equities while the pound was worth USD1.2727 from USD1.2711 on Tuesday evening.

Among commodities, Brent crude is trading at USD82.32 per barrel from USD82.44 per barrel Tuesday night. Gold, on the other hand, trades at USD2,416.98 an ounce from USD2,421.50 an ounce Tuesday evening.

On today's economic calendar from the US, at 1300 CEST will come the mortgage market report, and at 1600 CEST the report on existing home sales, followed half an hour later by crude oil stocks, the EIA report and the Cushing inventory.

Finally, at 2000 CEST, the minutes of the FOMC meeting will be released.

By Maurizio Carta, Alliance News reporter

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