(Alliance News) - European stock markets -- with only Milan bullish -- moved lower Wednesday, taking a breather after recent gains in the previous two sessions, as they awaited further clues on the macro data side.

British inflation slowed to 2 percent, as expected, but services inflation remained stable. The Bank of England will decide on monetary policy tomorrow, with traders ready for confirmation of the main rate at 5.25 percent, the highest in 16 years.

The FTSE Mib, thus, is moving up 0.2 percent to 33,386.89 points.

In Europe, London's FTSE 100 is giving up 0.2 percent, Paris' CAC 40 is giving up 0.2 percent, and Frankfurt's DAX 40 is stepping back 0.2 percent.

Among the smaller lists, the Mid-Cap is giving up 0.2 percent to 47,122.66, the Small-Cap is rising with 0.1 percent, while Italy Growth is in the green 0.2 percent to 8,085.44.

On the blue chip list, good start for Stellantis, which moves ahead 0.8%, on its third session with a bullish candle.

Also good start for Eni, which scores a plus 0.7 percent, following up the previous two sessions in the green.

Enel, on the other hand, is advancing 0.6 percent. Enel Finance International -- a financial subsidiary of Enel -- announced Wednesday that it has launched a multi-tranche "Sustainability-Linked Bond" aimed at institutional investors in the U.S. and international markets for a total amount of USD2 billion. The issuance, guaranteed by Enel, has received oversubscribed applications about 3 times, totaling total orders of about USD5.6 billion. Proceeds from the issue are expected to be used to finance the group's ordinary needs, including refinancing maturing debt.

Campari -- on the losing side by 1.1 percent -- on Tuesday announced that it had successfully placed an unrated 7-year bond aimed at institutional investors only. The offering concerns a bond that has a total nominal amount of EUR220 million and matures on June 25, 2031, and pays a fixed annual coupon of 4.256 percent. The company said the bonds will be issued at an issue price equal to 100 percent of par value.

Brunello Cucinelli, on the other hand, is giving up 1.2 percent, heading for the fifth session to close in a downtrend.

On the mid-cap, step backward for Fincantieri, which gives up 2.9 percent, following a 0.5 percent green light on the eve. The stock had previously come from seven sessions in a row with bullish candles.

Saras, meanwhile, gives up 0.3% to EUR1.62 per share. After taking over the Moratti stake, Vitol launched the tender offer for the remaining shares--about 55 percent--of Saras not yet held. As the two companies disclosed Tuesday, Vitol will offer EUR1.60 for each of the 518.5 million shares in Saras, for a maximum outlay that could reach EUR532.9 million.

Maire--declining 0.3 percent--reported Tuesday that Kinetics Technology was awarded an EPC project by Holborn Europa Raffinerie GmbH to build a vegetable oil hydrogenation plant within the Holborn refinery in Hamburg, Germany. The plant, which will be operational in early 2027, includes the pretreatment unit, HVO unit and interconnection infrastructure with existing plants. The value of the contract is about USD400 million.

Danieli, on the other hand, advances 1.3 percent to EUR. The stock during trading updated its 52-week high at EUR39.00.

On the Small-Cap, Landi Renzo advances well, rising 5.7 percent to EUR0.2985 per share, rebounding after four sessions closed among the bearish.

Sogefi, meanwhile, advances 4.8 percent to EUR3.14 per share, in position for its third bullish session. The company announced that the board of directors has resolved to propose to the July 18 shareholders' meeting the distribution of an extraordinary unit dividend of EUR0.923, before withholding taxes, for each of the outstanding shares with the exclusion of treasury shares held on the record date, for a total estimated amount of EUR110 million.

Aedes, on the other hand, gives up 4.9 percent to EUR0.2340 per share, after two sessions in which it rallied about 14 percent.

Among SMEs, boost on Comal, which moves up 4.1 percent, on its third bullish session.

Aton Green Storage advances 3.8%, pointing to its 12th daily bullish candle.

At the tail end, Bellini Nautica is giving up 5.5 percent, the subject of profit taking after three sessions in positive balance to which it posted an aggregate of about 30 percent.

In New York on European night, the Dow rallied 0.2 percent, the Nasdaq closed just above par, and the S&P 500 rose 0.3 percent.

Among Asian exchanges, the Nikkei picked up 0.2 percent, the Shanghai Composite gave up 0.4 percent, while the Hang Seng is advancing 2.9 percent.

Among currencies, the euro changed hands at USD1.0738 from USD1.0747 on Tuesday in closing European equities while the pound is worth USD1.2714 from USD1.2708 on Tuesday evening.

Among commodities, Brent crude trades at USD85.32 per barrel from USD84.77 per barrel at Tuesday's close. Gold, on the other hand, trades at USD2,330.03 an ounce from USD2,323.46 last night.

Wednesday's macroeconomic calendar includes construction sector output, due at 1100 CEST, half an hour before a 30-year German Bund auction and an hour before the Bundesbank's monthly report and Spanish consumer confidence data.

From the US, will come data on 30-year mortgage rates, on a day that will see US stock markets closed for Juneeteth.

Among companies in the stock market, no special events are expected.

By Maurizio Carta, Alliance News reporter

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