(Alliance News) - On Thursday, the Mib opened with bullish trend, as expected by the futures market, after the Federal Reserve on Wednesday kept interest rates unchanged.
Investors weighed the U.S. Federal Reserve's latest decision along with a series of corporate report updates, which are gradually appearing on the day's calendars.
The U.S. central bank opted to hold interest rates and adopted a somewhat more dovish tone, acknowledging that further time will be needed for inflation to converge toward the 2 percent target after several months of disappointing inflation readings, but ruling out a further increase in the cost of money.
Thus, the FTSE Mib trades up 0.3 percent at 33,382.05.
In Europe, Paris' CAC 40 is giving up 0.7 percent, London's FTSE 100 is up 0.3 percent, and Frankfurt's DAX 40 is advancing just above par.
On Italy's smaller listings, the Mid-Cap is advancing above par at 47,250.94, the Small-Cap is fractionally up at 28,941.53, while Italy Growth is in the green by 0.2% at 8,232.62.
On the Mib, Banca Monte dei Paschi is off to a good start, moving ahead 2.7 percent to EUR4.67 per share, having touched EUR4.69, a new 52-week high, after the bell rang.
Strength also on Amplifon, which scores a plus 2.6 percent with new price at EUR32.24 per share after falling 0.9 percent in the last session.
Stellantis, on the other hand, is giving up 3.3 percent. The company on Tuesday reported that it had net revenues of EUR41.7 billion in the first quarter, down 12 percent from the first quarter of 2023, when they were EUR47.2 billion, "mainly due to lower volumes and unfavorable currency exchange and mix effects, partly offset by holding prices."
Deliveries were 1.3 million units, down 10 percent, and "reflect actions on production and stock management in preparation for the arrival of new products in the second half of 2024," the company explained in the released note.
Sales also on Eni, which reprices to the EUR14.88 area with bearish balance of 1.7 percent.
On the cadet segment, LU-VE advances 1.9%, following Tuesday evening's 1.1% decline.
El.En., on the other hand, marks a plus 1.6% after a 3.3% contraction on the eve.
Ariston Holding is advancing 1.7 percent after a 3.2 percent contraction in the previous session.
At the tail end, Juventus FC is giving up 0.9 percent on the heels of Tuesday's 0.6 percent red.
On the SmallCap, SIT moves ahead 5.1%, on its third bullish candle.
Monrif is also doing well, posting a plus 2.0%, on the heels of Tuesday night's 0.5% gain.
Seri Industrial, on the other hand, is giving up 5.7% to EUR4.13. It reported Tuesday that during the first quarter 2024 it posted revenues of EUR43.4 million with a slight decrease of EUR237,000 compared to the previous reporting period.
Safilo -- up 1.2 percent -- announced Thursday that it has signed a perpetual license agreement with Authentic Brands Group for Eyewear by David Beckham, replacing the previous contract expiring at the end of 2030. Under the new agreement, Safilo will continue to manage the entire value chain, from the design phase, a creative process led by David Beckham, to global production and distribution.
Among SMEs, strength on Askoll Eva, which moves ahead 5.2 percent to EUR0.29 per share after a change in top management. The compnay announced Tuesday that it had appointed Luca Bolcati as the company's new chief executive officer effective immediately. The board also appointed Luca Bolcati as the company's Investor Relator.
Purchases also on Compagnia dei Caraibi, which marks a plus 4.9 percent pointing to its third consecutive bullish candle.
On a negative note, in a still uneventful list, Impianti is marking minus 2.7 percent after the previous session's 4.4 percent red.
In New York last night, the Dow Jones advanced 0.2 percent while the S&P and Nasdaq both closed down 0.3 percent.
Among the Asian exchanges, the Nikkei gave up 0.1 percent, the Hang Seng marks plus 2.4 percent while the Shanghai Composite is closed for holidays.
Among currencies, the euro changed hands at USD1.0724 from USD1.0692 on Tuesday in closing European equities while the pound is worth USD1.2532 from USD1.2522 on Tuesday evening.
Among commodities, Brent crude is worth USD84.02 a barrel from USD86.49 a barrel Tuesday evening and gold trades at USD2,316.48 an ounce from USD2,298.92 an ounce Tuesday evening.
Thursday's macroeconomic calendar features the Eurozone manufacturing PMI at 1000 CEST.
From the US, at 1430 CEST will come the trade balance and unemployment claims data, while at 1600 CEST it will be the turn of the durable goods report.
At 2230 CEST, the Federal Reserve's weekly balance sheet will be released instead.
On the corporate calendar, the accounts of Clabo, Compagnia Immobiliare Azionaria, Risanamento and Ulisse Biomed are expected.
By Maurizio Carta, Alliance News reporter
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