(Alliance News) - European stock indices started Thursday's session on a positive note, continuing the recovery of the previous two days and reflecting a more constructive attitude on the part of global markets. The MIB, however, is fluctuating irregularly, alternating between positive territory and moments of slight decline.
The upward movement was mainly supported by macro data from the US. The unexpected weakness of the labor market significantly increased the likelihood of a 25 basis point rate cut by the Federal Reserve at next week's meeting, significantly improving risk appetite.
Among the day's data, it should be noted that eurozone retail sales remained flat in October on a monthly basis after rising 0.1% in September. On an annual basis, eurozone retail sales rose 1.5% after growing 1.2% in the previous month.
The FTSE Mib is thus trading just above parity at 43,388.67 points.
The CAC 40 is up 0.4%, the DAX 40 is up 0.8%, while the FTSE 100 is down fractionally.
Among the minor indices, the Mid-Cap is up 0.3% to 58,437.64, the Small-Cap is up 0.3% to 36,058.80, while the Italy Growth is up 0.1% to 8,495.27.
On the Milan Stock Exchange, Stellantis is up 3.9%, following yesterday's 7.7% rally.
STMicroelectronics rose 3.0%, marking its fifth consecutive bullish candle.
Buzzi gained 1.7% to EUR51.80 per share, after four sessions of decline.
Lottomatica Group, up 0.3%, announced on Wednesday that it had acquired 2 million of its own ordinary shares between November 24 and 28, for a total value of almost EUR 42.7 million.
A2A, down 0.7%, presented its first climate transition plan, allocating EUR 7 billion by 2035 to key decarbonization measures: increasing renewables, improving energy efficiency, waste recovery, and expanding district heating. As reported by Milano Finanza on Thursday, the document defines the objectives, tools, and operational levers that will guide the Lombardy-based multi-utility towards the Net Zero target in 2050.
Sales on Banca Monte dei Paschi, which fell 1.9% at the bottom of the list after gaining 1.4% in the previous session. As reported by Corriere della Sera on Thursday, tomorrow, the board of directors, convened by chairman Nicola Maione, will address the delicate phase opened by the investigation into the takeover of Mediobanca, which now also involves the cell phones of the chairman and CEO of Piazzetta Cuccia, Grilli and Melzi d'Eril, both of whom are not under investigation.
The board will hear CEO Luigi Lovaglio's report on the progress of the investigation. Lovaglio, who is under investigation along with Caltagirone and Milleri for alleged market manipulation and obstruction of supervision, has already appointed a lawyer, as have the others involved. After the report, Lovaglio's and the bank's lawyers will make an overall assessment.
On the secondary market, Comer Industries is up 4.0% to EUR42.10 per share after two bearish sessions.
Avio rose 3.7% to EUR24.65 per share, after three sessions of decline.
Fincantieri, which will officially trade on the MIB starting December 22, is up 2.8%.
On Wednesday, in the presence of Prime Minister Giorgia Meloni and Salman Bin Hamad Al Khalifa, Crown Prince and Prime Minister of Bahrain, Fincantieri and ASRY signed a Memorandum of Understanding to explore new opportunities for collaboration in the shipbuilding sector. The agreement was signed on the sidelines of the 46th Gulf Cooperation Council summit by Eugenio Santagata for Fincantieri and Ahmed AlAbri for ASRY, in the presence of Fincantieri Chairman Biagio Mazzotta.
Among the bearish stocks, a minority on the list, Iren is down 1.5%, in its fourth bearish session, with a price fluctuating around EUR2.56 per share.
On the Small-Cap index, Aquafil is up 3.7% to EUR 1.41 per share, recovering after two sessions of decline.
The Italian Sea Group is up 3.3% to EUR4.21 per share, following Wednesday's 2.0% gain at the close.
Tesmec rose 2.2% to EUR 0.15, its fifth bullish session.
I Grandi Viaggi rose 2.4%, after closing down by the same amount the day before.
Sales on Centrale del Latte d'Italia, which fell 4.4% to EUR5.50 per share, subject to profit taking after six bullish sessions.
Landi Renzo fell 3.0%, following a 3.5% decline in the previous session.
Among SMEs, Edil San Felice is up 8.6%, its second consecutive bullish candle.
Eprcomunicazione rose 3.1%, bringing the price to EUR 1.34.
Estrima, on the other hand, fell 4.6% to EUR 0.17 per share, placing it at the bottom of the list.
In New York, during the European evening, the Dow Jones gained 0.9%, the Nasdaq advanced 0.2%, while the S&P 500 gained 0.3%.
Among Asian markets, the Nikkei gained 2.3%, the Shanghai Composite lost 0.1%, while the Hang Seng rose 0.7%.
On the currency front, the euro is trading at USD 1.1675 from USD 1.1664 at Wednesday's stock market close, while the pound is trading at USD 1.3354 from USD 1.334 last night.
Among commodities, Brent crude traded at USD 62.78 per barrel, down from USD 63.05 per barrel at yesterday evening's close, while gold traded at USD 4,193.24 per ounce, down from USD 4,221.25 per ounce yesterday evening.
On Thursday's economic calendar, Eurozone retail sales data is scheduled for release at 1100 CET.
From 1:30 p.m. CET to 2:30 p.m. CET, attention will focus on the US labor market with data on job cuts and unemployment.
By Maurizio Carta, Alliance News Reporter
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