(Alliance News) - Piazza Affari is expected to be essentially flat at the start of trading on Wednesday, on another day not particularly rich in macroeconomic events, following the release of China's inflation.

China's annual inflation rate fell to 0.2 percent in June from 0.3 percent in the previous two months, falling short of market estimates of 0.4 percent, the National Bureau of Statistics reported Wednesday.

June's was the fifth consecutive month of consumer inflation but also the lowest since March amid a fragile economic recovery.

Food prices fell for the 12th month in a row, by 2.1 percent compared to a 2.0 percent drop in the previous month, despite a sharp acceleration in pork prices during the Dragon Boat Festival.

The FTSE Mib is given up 0.1% or 15 points after closing Tuesday down 0.5% at 33,864.47.

London's FTSE 100 is shown up 0.1 percent or 10.4 points, Paris' CAC 40 is expected up 0.2 percent or 16.8 points, and Frankfurt's DAX 40 is shown up 0.1 percent or 24.1 points.

In Milan last night, the Mid-Cap lost 0.4 percent to 47,772.76, the Small-Cap fell 0.8 percent to 29,029.74, and Italy Growth gave up 0.1 percent to 8,083.21.

On the Mib, strength on Prysmian, which rose 4.0% to EUR60.00. The company announced Monday that between July 1 and July 5 it bought back 199,000 of its own ordinary shares for a total value of EUR11.4 million. Thus, the company holds 4.5 million treasury shares or 1.6 percent of its share capital.

Leonardo also did well, up 1.0% to EUR22.45 per share, rearing its head again after two bearish sessions.

Boost also on Iveco, which scores a plus 1.2%, following up the 1.4% rise in the previous session.

UniCredit -- in the red by 1.1 percent -- reported regarding its share buyback program that -- from July 1 to July 5 -- it purchased more than 4.5 million of its own shares. The weighted average price was EUR36.35 per share, amounting to about EUR166 million.

Assicurazioni Generali--down 1.8 percent--reported on Monday that from July 1 to 5 it had purchased 247,938 of its own shares at a weighted average price of EUR23.85 for a total value of EUR5.9 million. As a result of these purchases, the company holds 25.2 million of its own shares, or 1.6 percent of its share capital.

Worst of all, however, did STMicroelectronics, which finished the session down 2.3 percent, with 1.8 million changed hands.

On the Mid-Cap, Juventus FC dropped 1.1 percent after eve's loss of 4.4 percent. The Agnelli Elkann's club is back in the player market on the delicate ridge of capital gains, which has already cost criminal investigations and sports penalty points in the past. Reporting a "suspicious" transaction is the "Fatto Quotidiano," which recounts the sale of U.S. forward Moise Kean to Fiorentina for EUR13 million -- plus EUR5 million in bonuses -- last week. The striker was going to expire his contract at the end of June and from next January 1 would be on a zero-parameter basis.

So, the newspaper objects, it is not clear why American Rocco Comisso's club shelled out for a player who, by the way, did not score a single goal last season. Juve is relieved, for this sort of six-month loan, of EUR12.9 million it would have had to spend between amortization and last year's salary.

Then, on Tuesday, the transaction became official. The company said the transaction generates a positive economic impact on the current fiscal year of EUR2.3 million, net of ancillary charges.

Carel Industries, on the other hand, rose 3.5 percent with new price at EUR18.36 per share, heading for its fifth consecutive bullish session.

Anima Holding - down 0.3 percent - reported Monday that between July 1 and July 5 it bought 535,564 shares at an average price of EUR4.7822 for a total value of EUR2.6 million.

Webuild - down 1.1 percent - on Monday evening informed that it had purchased - between July 1 and 5 - 20,000 of its own ordinary shares. The average price per unit was EUR2.10, for a total value of EUR42,000.

It did worse than Fincantieri, down 4.5 percent, after a 4.9 percent gain on the eve. On the stock it is mentioned that Eleva Capital cut its short on the stock to 0.43% from 0.56% previously.

On the Small-Cap, good buys on Seri Industrial, which rose 1.2%, with new price at EUR4.09 per share.

On the other hand, doValue gained 1.8 percent to EUR2.03 per share, following Monday's 1.8 percent red. The company, on the MarketScreenr platform, shows a target price on the average of two analysts of EUR5.35, thus being underpriced by more than 168%.

Sabaf -- up 0.9 percent -- on Monday reported that shareholder Montinvest Srl, a company controlled by Fulvio Montipò, founder and chairman of Interpump Group Spa, has increased its stake in Sabaf through the purchase of 75,000 shares, or 0.59 percent of the share capital. Montinvest thus currently holds a stake in Sabaf equal to 9.73 percent of the share capital and 6.62 percent of the voting rights.

TXT e-solutions -- in the red by 1.2 percent -- on Monday announced a further investment in ProSim Training Solutions through the exercise of an option to purchase 20 percent of the company's capital, against which TXT holds a 60 percent majority stake.

Among SMBs, strength on Aton Green Storage, which rises 2.7 percent, rebounding after five sessions closed at a loss.

H-Farm, on the other hand, ranks among the list's best, gaining 6.2 percent and breaking a four-session downtrend.

Espe - down 5.4 percent - reported Tuesday that an agreement has been concluded with a major Independent Power Producer - IPP - client from Italy for the construction of a ground-mounted photovoltaic plant in the province of Pavia totaling 7.1 MWp, or about EUR4.2 million. The installation is expected to be completed by the first half of 2025.

Circle - up 1.8 percent - announced Tuesday that it has successfully concluded the subscription of a further tranche, through an accelerated bookbuilding procedure, of the share capital increase, excluding pre-emptive rights.

Talea Group -- up 0.3 percent -- on Tuesday announced the private label launch of its Amicafarmacia brand. Amicafarmacia's new line consists of 24 specific supplements for different types of needs, with particular focus on beauty, purification, intestinal balance, immune defense, energy, and wellness of the eyes, heart, blood pressure, urinary tract, and prostate.

In Asia, the Nikkei closed Wednesday up 0.6 percent to 41,831.99, the Shanghai Composite lost 0.6 percent to 2,941.78, and the Hang Seng gave up 0.2 percent to 17,489.78.

In New York, as of Tuesday's close, the Dow lost 0.1 percent to 39,291.97, the Nasdaq rose 0.1 percent to 18,429.29 and the S&P 500 was up 0.1 percent to 5,576.98.

Among currencies, the euro changed hands to USD1.0819 from USD1.0814 in Tuesday's European stock close while the pound was worth USD1.2794 against USD1.2794 last night.

Among commodities, Brent crude trades at USD84.17 per barrel from USD85.31 per barrel at Tuesday's close. Gold, on the other hand, trades at USD2,368.73 an ounce from USD2,360.78 an ounce last night.

Wednesday's macroeconomic calendar awaits the French current account, due out at 0845 CEST, and Italian industrial production, expected at 1000 CEST.

At 1110 CEST, a one-year BOT auction will be held while, in the afternoon, will come U.S. mortgage data, at 1300 CEST.

At the same time, OPEC's monthly report will arrive while at 1600 CEST it will be the turn of wholesale sales, followed half an hour later by crude oil stocks.

Among the companies in the Piazza Affari, no special events are expected.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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