(Alliance News) - On Thursday,major European stock markets are expected to be in positive territory according to IG futures on a morning packed with macroeconomic results and after the release of Fed minutes.

Federal Reserve economists predicted a "mild recession" when the U.S. central bank decided to raise interest rates further last month.

Members of the Fed's policy-setting committee voted unanimously last month to raise the benchmark lending rate for the ninth time in just over a year, the minutes showed, as they sought to balance containing high inflation and preventing further upheaval in the banking sector after the rapid collapse of Silicon Valley Bank.

The quarter-point increase, in line with expectations, raised the Fed's interest rate target between 4.75 percent and 5 percent, with the Federal Open Market Committee adding in a statement that "further policy tightening may be appropriate" to help bring inflation below the Fed's 2 percent target.

Thus, futures give the FTSE Mib in the green by 0.1 percent or up 32.5 points after closing up 0.4 percent at 27,629.34.

Paris' CAC 40 is expected to be in the green by 47.0 points or up 0.6 percent, Frankfurt's DAX 40 is given in fractional red or down 5.5 points, while London's FTSE 100 is expected in fractional green or up 1.5 points.

Among Italy's smaller listings on Wednesday, the Mid-Cap closed in the red 0.2 percent to 43,685.10, the Small-Cap finished in the green 0.1 percent to 29,880.50 while the Italy Growth closed down 0.4 percent to 9,415.62.

On the main list in Piazza Affari, UniCredit--which finished on top with 2.7 percent--reported Wednesday that it had purchased 11.1 million of its own ordinary shares between April 3 and 6.

The shares were taken over at an average price per share of EUR17.9170, for a total value of EUR198.2 million.

Iveco Group followed, up 1.9 percent while CNH Industrial finished up 1.3 percent after reporting that its subsidiary CNH Industrial Capital LLC completed its USD600 million bond offering, with a coupon of 4.550 percent and maturity in 2028, with an issue price of 98.9 percent.

Azimut Holding advanced 0.3 percent after reporting Tuesday that it recorded positive net inflows of EUR621 million in March, bringing that since the beginning of the year to EUR2.6 billion.

In March alone, 83 percent of net inflows were directed into asset management products. Total assets including assets under administration stood at EUR83.0 billion at the end of March, of which EUR57.3 billion refer to assets under management.

On the Mid-Cap, Fincantieri closed up 1.4 percent after announcing Thursday that it purchased 3.1 million of its own shares, or about 0.2 percent of its share capital, in the period between March 29 and April 3, 2023.

The shares were purchased at a volume-weighted average price of EUR0.5887 each, net of commissions, for a total value of EUR1.8 million.

At the top were MFE's B shares up 2.7 percent. Down was Juventus FC, down 0.8% but at the bottom was Seco, in the red by 2.1%.

Also bad were Saras, down 2.1%, and Tod's, down 2.1%.

Maire Tecnimont -- in the green by 0.6 percent -- announced Wednesday that its subsidiary NextChem Holding had finalized the acquisition of an 83.5 percent stake in Conser, a Rome-based proprietary technology and process engineering company, announced Jan. 23, 2023.

The countervalue of the transaction is approximately EUR35.8 million, of which EUR28.4 million was paid today and EUR7.4 million deferred and subject to the fulfillment of certain conditions.

On the Small-Cap side, Greenthesis -- in the red by 2.1 percent -- reported that it ended 2022 with a net profit of EUR18.6 million, up from about EUR10.0 million a year earlier.

Revenues were EUR171.7 million compared to EUR155.9 million in the previous year. Specifically, the main business areas Disposal, Treatment and Recovery, Environmental Remediation, and Energy Production recorded an increase of 13 percent, an increase of 0.7 percent, and an increase of 80 percent, respectively, compared to the actual figures for the same period in the previous year.

Conafi Presitò sprinted, which finished in the green by 25 percent at EUR0.42 per share.

Among SMEs, Promotica closed up 4.2 percent after announcing on Wednesday that its cooperation with Selex Gruppo commerciale in the role of sole general contractor for the conception and management of the national premium catalog for a total value of more than EUR11 million has been confirmed for 2023 as well.

Agatos finished up 9.8 percent. The stock lost 1.5 percent in the last month, 29 percent in the last six months, and about 41 percent in the last 12 months.

TraWell, on the other hand, gave up 2.6 percent. The company has renewed its partnership with Olbia Airport for the 2023 summer season.

Olbia Airport is the island's second busiest airport and the main gateway to northeastern Sardinia. It is the best choice for the Emerald Coast, the island of La Maddalena, and the Gulf of Orosei. It is only 4 km from the center of Olbia, 30 km from Porto Cervo and 60 km from Santa Teresa di Gallura.

Growens--in the red by 3.4 percent--reported Tuesday that its first quarter of 2023 sales were up compared to the same period in 2022.

As for the SaaS - Software as a service - business line, the company reported annual recurring revenue given by subscriptions of EUR29.4 million up 23 percent from the same period in 2022 when it was EUR23.6 million instead.

In Asia, the Nikkei closed in the green 0.2 percent at 28,137.10 and the Hang Seng is giving up 0.7 percent to 20,1173.52, while the Shanghai Composite is down 0.4 percent to 3,315.34.

In New York on Wednesday, the Dow Jones closed 0.1% in the red at 33,646.50, the S&P lost 0.4% to 4,091.95, while the Nasdaq was down 0.9% to 11,929.34.

Among currencies, the euro changed hands at USD1.0987 versus USD1.0983 at Wednesday's close. In contrast, the pound is worth USD1.2489 from USD1.2465 on Wednesday evening.

Among commodities, Brent crude is worth USD87.09 per barrel versus USD87.00 per barrel on Wednesday evening. Gold, on the other hand, trades at USD2,032.45 an ounce from USD2,006.42 an ounce at Wednesday's close.

On Thursday's economic calendar, Italy's industrial production is scheduled at 1000 CEST followed by that of the Eurozone at 1100 CEST.

At 1110 CEST, however, three- and seven-year BTP auctions will be held, and at 1200 CEST the Thomson Reuters IPSOS index on consumer sentiment for Italy, France and Germany will be released.

At 1300 CEST from the U.S. is the OPEC monthly report and in the afternoon, at 1430 CEST, the index of key producer prices and initial claims for unemployment benefits.

In Piazza Affari, no special events are expected.

By Claudia Cavaliere, Alliance News reporter

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