(Alliance News) - Major European markets closed higher on Wednesday after the release of the U.S. annual inflation rate, which slowed for the ninth consecutive month to 5.0 percent in March, the lowest since May 2021, from 6.0 percent in February.

The figure is below market forecasts of 5.2 percent but core inflation, excluding food and energy, came in as expected at 5.6 percent year-on-year from 5.5 percent in February, setting the stage for another 25 basis point rate hike by the Federal Reserve next month.

The Federal Open Market Committee will meet between May 2 and 3, and according to the CME FedWatch tool, there is a 67 percent probability that it will raise rates by a quarter point, bringing the federal funds rate range from 5.00 percent to 5.25 percent.

"Markets initially benefited from weaker-than-expected March U.S. inflation data, but then gave back their gains as core inflation remains stubbornly high," says Axel Rudolph, senior market analyst at online trading platform IG.

Thus, the FTSE Mib closed up 0.4 percent at 27,629.34.

Among the smaller listings, the Mid-Cap closes down 0.2 percent to 43,685.10, the Small-Cap ends in the green 0.1 percent to 29,880.50 while Italy Growth closes down 0.4 percent to 9,415.62.

In Europe, London's FTSE 100 ends in the green by 0.5 percent, Paris' CAC 40 closes up 0.1 percent while Frankfurt's DAX 40 scores a plus 0.3 percent,

On the main list of Piazza Affari, UniCredit--which closes up 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 follows, up 1.9 percent while CNH Industrial ends up 1.3 percent after reporting that its subsidiary CNH Industrial Capital LLC has 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 advances 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 closes up 1.4 percent after announcing Thursday that during the period between March 29 and April 3, 2023, it bought back 3.1 million of its own shares, amounting to about 0.2 percent of the share capital.

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 are MFE's B shares up 2.7 percent. Down is Juventus FC, down 0.8% but at the bottom is Seco, down 2.1%.

Also hurting is 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 has 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, ending 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 closes up 9.8 percent. The stock has 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, gives 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.

On Wall Street at the height of trading, the Dow Jones is up 0.2 percent, the S&P 500 is in the green by 0.1 percent, and the Nasdaq is down 0.1 percent.

Among currencies, the euro changes hands at USD1.0983 against USD1.0909 at Tuesday's close. In contrast, the pound is worth USD1.2465 from USD1.2419 last night.

Among commodities, Brent crude is worth USD87.00 per barrel versus USD85.33 per barrel Tuesday night. Gold, meanwhile, trades at USD2,006.42 an ounce from USD2,019.65 an ounce at yesterday's close.

On Thursday's economic calendar, China's trade balance will come out at 0500 CEST while GDP, industrial and manufacturing production data, and the trade balance arrive in the UK at 0800 CEST.

At the same time, i.e., 0800 CEST, the consumer price index will come out in Germany while at 1000 CEST Italy's industrial production is scheduled to come out followed, at 1100 CEST, by that of the Eurozone.

At 1110 CEST, however, three- and seven-year BTP auctions will be held and at 1200 CEST the Thomson Reuters IPSOS consumer sentiment index 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 Chiara Bruschi, Alliance News reporter

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