(Alliance News) - European stock markets are trading in mixed territory Wednesday as deep doubts remain over the timing of interest rate cuts.

Federal Reserve Chairman Jerome Powell signaled last week that investors may have to wait longer than expected for a turnaround by the central bank. Powell also reiterated Sunday that more positive inflation data are needed before rates can come down. His comments during a "60 Minutes" interview also led many to believe that there may be fewer cuts this year than some had hoped.

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?Thus, the FTSE Mib, marks a 0.3 percent advance to 31,192.89.

In Europe, London's FTSE 100 is giving up 0.1 percent, Paris' CAC 40 is stepping forward 0.1 percent, and Frankfurt's DAX 40 is leaving 0.1 percent on the parterre.

Among the smaller lists, the Mid-Cap is advancing 0.2% to 45,481.05, the Small-Cap is giving up 0.3%, while Italy Growth is stepping back 0.2%.

On the main list in Piazza Affari, Banca Monte dei Paschi is off to a good start, moving ahead 3.8% with new price at EUR3.50 per share. The Siena-based bank on Wednesday signaled that it returned to profit in 2023, with results showing a net profit of EUR2.05 billion as of Dec. 31 from a loss of EUR178.4 million in the same period a year earlier.

After that in profit, the company also announced a return to the dividend, two years ahead of the plan target and forecasting a dividend of EUR0.25 per share for a total of EUR315 million.

Good momentum also on Banco BPM, which advances 1.0% on the eve of the publication of results.

Boost also on Stellantis, which scores a plus 1.5 percent, on the heels of the eve's profit closed with a plus 1.8 percent.

Saipem, on the other hand, is giving up 0.8 percent to EUR1.2910. Worth mentioning that on the stock AHL Partners raised its short position to 0.61% from 0.50%.

Among midcaps, good buying on OVS, which moves ahead 3.7%. The company announced Tuesday that it has signed a letter of intent with Goldenpoint Spa shareholders with the aim of developing a possible industrial partnership.

Goldenpoint counts on a sales network of about 380 stores located in prestigious locations in major historical centers and shopping malls in Italy and a turnover of nearly EUR100 million.

Banca Popolare di Sondrio, on the other hand, posted a plus 1.9 percent. The bank reported a net profit of EUR461.2 million in 2023, up 84 percent from EUR251.3 million in the previous year. In addition, a dividend of EUR0.56 was proposed, up from EUR0.28 paid last year, with payout revised upward to 55 percent from the 50 percent under the plan.

Anima Holding, on the other hand, gives up 1.9 percent to EUR4.22 per share after 2.4 percent green on eve.

Sales also prevail on Zignago Vetro, among others, which gives up 1.8% after eve's drop of minus 0.4%.

Among smallcaps, CY4Gate is advancing 3.3 percent with price at EUR6.57 per share, after three sessions closed among the bearish.

High quarters also for Civitanavi Systems, which is picking up 2.2% rearing its head after two sessions ended among the bearish.

The Italian Sea Group - in the red by 3.8 percent - on Tuesday evening reviewed and approved its preliminary consolidated results as of December 31, which closed with total revenues of EUR363 million, up 23 percent from EUR295 million recorded in 2022. The total value of the order book ? i.e., the gross value of outstanding contracts for new yachts not yet delivered to customers - as of Dec. 31, including Shipbuilding and Refit, was EUR1.27 billion.

Somec, on the other hand, is surrendering 2.6 percent to EUR26.60 per share, following a 0.7 percent red on eve.

Among SMEs, Eprcommunication is giving up 5.7 percentat EUR2.30 per share, subject to profit taking after four sessions closed among the bullish.

Plants, on the other hand, is giving up 4.6 percent, following a 4.5 percent green in the previous session.

In the green, in a still uneventful list, Franchetti advances 6.2 percent to EUR5.50 per share.

In New York on Tuesday, the Dow Jones rose 0.4 percent, the S&P picked up 0.2 percent, and the Nasdaq advanced 0.1 percent.

Among Asian exchanges, the Nikkei gave up 0.1 percent, the Shanghai Composite picked up 1.4 percent, while the Hang Seng gave up 0.3 percent.

Among currencies, the euro changed hands at USD1.0764 against USD1.0752 recorded in Tuesday's European stock close, while the pound is worth USD1.2621 from USD1.2591 on Tuesday evening.

Brent crude is worth USD78.80 per barrel versus USD78.72 per barrel at Tuesday's close. Gold, on the other hand, trades at USD2,033.00 an ounce from USD2,038.65 an ounce Tuesday night.

Wednesday's economic calendar features the UK Treasury Gilt auction at 1100 CET.

In the afternoon, the usual mortgage data from the US are scheduled at 1300 CET and, at 1430 CET, the trade balance.

The same data will also come out at the same time in Canada while from the US will come, at1630 CET, US crude oil stocks.

In Piazza Affari, the results of BPER Bank and Intred are expected.

By Maurizio Carta, Alliance News reporter

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