(Alliance News) - The Mib remains bullish in the 35,400 area Thursday, propping up 16-year highs, as trading floors focus on corporate reports that, though fewer and fewer, are gradually being released.

On the domestic front, Italy's annual inflation rate slowed to 0.8 percent in April from 1.2 percent in March, slightly below the preliminary estimate of 0.9 percent and indicating the impact of the ECB's prolonged restrictive monetary policy.

Italy also posted a trade surplus of EUR4.34 billion in March, below market expectations of EUR4.77 billion. The figure is higher than the EUR3.32 billion surplus in the corresponding period of the previous year. In February, the Belapese trade surplus had reported a value of more than EUR6.0 billion.

The FTSE Mib therefore marks a green of 0.1 percent in the 35,416.43 area.

In Europe, Paris' CAC 40 is advancing 0.6 percent, London's FTSE100 is marking minus 0.3 percent as is Frankfurt's DAX 40.

Among the smaller listings in Piazza Affari, the Mid-Cap is down 0.2 percent to 48,378.39, the Small-Cap is in the red 0.4 percent to 29,479.49, and Italy Growth is down 0.2 percent to 8,231.77.

On the Mib, BPER Banca - in the green by 2.9 percent - reported that it has successfully completed the placement of the second "green" qualified Senior Preferred bond issue, consistent with the group's GSS Bond Framework intended for institutional investors. The amount placed was EUR500 million, with a maturity of 7 years and the possibility of early redemption after 6 years.

Banca Monte dei Paschi di Siena advances 1.1 percent. The company announced Wednesday that rating agency Moody's Ratings upgraded the bank's ratings by one notch, raising, among others, the standalone Baseline Credit Assessment to "ba2" from "ba3," the long-term deposit rating to "Baa3" from "Ba1," and the long-term senior unsecured debt to "Ba2" from "Ba3."

"Moody's upgrade reflects the bank's improved creditworthiness in recent years, as well as the strengthening of its solvency and re-established ability to generate profits, also thanks to the EUR2.5 billion capital increase and the favorable interest rate environment," the bank points out.

The board of Snam -- in the green by 2.5 percent -- on Thursday disclosed that it had approved consolidated results for the first quarter of 2024, a period that ended with a reported net profit of EUR337 million from EUR304 million in the first quarter of 2023. Total revenues were EUR895 million, down from EUR912 million in Q1 2023. "Growth in regulated revenues related to the implementation of the investment plan, higher WACC and higher output-based incentives; declines in revenues from the energy efficiency business, particularly in residential," the released note said.

STMicroelectronics is advancing 0.9 percent to EUR39.37 per share, continuing the bullish trend that points to the sixth session's positive balance.

On the backside, Eni is giving up 2.3 percent, on its third bearish candle. The shareholders' meeting authorized the board of directors to proceed with the purchase of treasury shares until the end of April 2025. The maximum number of shares to be purchased is 328.0 million ordinary shares for a total outlay of up to EUR3.5 billion.

For Stellantis, on the other hand, the decline is 1.5 percent, on the heels of eve's 0.4 percent loss.

On the cadet segment, BFF Bank advances 1.7 percent, after two bearish sessions. The stock on a weekly basis has lost more than 16% capitalization.

GVS -- up 2.5 percent -- reported Tuesday that it ended the quarter with net income of EUR9.9 million, up 7.7 percent from EUR2.5 million in the same period a year earlier. Revenues amounted to EUR105.4 million from EUR104.9 million in the first quarter of 2023.

Also good session for Intercos, which moves ahead 2.7 percent, on its third bullish candle.

Iren's board of directors -- down 2.0 percent -- approved consolidated results as of March 31 on Wednesday, ending the period with a group net profit attributable to shareholders of EUR122.2 million, down nearly 10 percent from last year's result in the same period.

El.En., on the other hand, is giving up more than 15 percent, after viglia's gain of 2.7 percent. On Wednesday, it approved its interim report for the year to March 31, with a positive pre-tax result of EUR14.4 million, a 13 percent decrease from EUR16.6 million as of March 31, 2023.

d'Amico, on the other hand, is giving up more than 11 percent. The stock-which has increased its market cap by more than 20 percent since the beginning of 2024-follows the eve's decline that closed with minus 0.7 percent.

On the Small-Cap, Conafi advances 9.1%, trailing for the fifth session to close with a bullish candle.

Datalogic advances 8.1. The company reported Wednesday that it closed the first quarter with a profit of EUR6.0 million, up sharply from EUR3.2 million in the first three months of 2023 thanks to proceeds realized from the sale of Informatics Holdings, Inc. Revenues amounted to EUR111.3 million, down from EUR145.5 million in the first three months of the previous year.

The board of directors of Trevi Finanziaria Industriale -- up 1.0 percent -- on Tuesday reviewed business performance in the first three months of 2024, in which it recorded new orders of EUR128.3 million. At the end of March 2024, the group's order backlog was up to EUR755 million, up 4.9 percent from December 31, 2023.

Unidata advances 3.2 percent, after Wednesday's loss of 3.6 percent. The company reported an increase in quarterly profit to EUR3.3 million from EUR3.1 million as of March 31, 2023.

Netweek, on the other hand, is surrendering 3.8 percent, following a 3.6 percent red on the eve of the event.

Among SMEs, Datrix is advancing 3.7 percent after announcing a significant new strategic agreement with Direct Channel Spa, a subsidiary of Mondadori Media, part of the Mondadori Group. The agreement involves the integration of the MobiLit software platform of Paperlit Srl, a Datrix Group company and already a partner of Direct Channel, with the latter's digital solutions for the management and sale of online subscriptions developed by the latter.

Edil San Felice appreciates 9.6%, following up Wednesday's green with 3.1%.

Circle, on the other hand, marks 5.0 percent green, following up on the eve's close with a plus 2.7 percent.

On the other hand, iVision Tech brings the bar up 6.0%, heading for the third session to close with a bullish candle. The company on Tuesday approved some key management figures as of March 31, 2024, with Ebitda growing in absolute terms by 10 percent from EUR470,000 in the first quarter of 2023 to EUR510,000 as of March 31, 2024.

At the rear is First Capital, which gives up 3.5 percent with price at EUR16.50.

In New York on European night, the Dow rallied 0.9 percent, the Nasdaq closed up 1.4 percent, and the S&P 500 took home 1.2 percent.

Among currencies, the euro changed hands at USD1.0870 from USD1.0874 in Wednesday's European stock close while the pound was worth USD1.2669 from USD1.2672 last night.

Among commodities, Brent crude is trading at USD82.42 per barrel from USD82.55 per barrel on Wednesday evening. Gold, on the other hand, trades at USD2,385.65 an ounce from USD2,383.01 an ounce on Tuesday.

On Thursday's macroeconomic calendar from the US, the Initial Jobless Claims data will be due at 1430 CEST, while the Federal Reserve's weekly balance sheet will be released at 2230 CEST.

By Maurizio Carta, Alliance News senior reporter

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