(Alliance News) - On Thursday, Piazza Affari ended the session in the green, with the Mib rising to nearly 28,800--the highest since June 2008--and thus outperforming other European financial markets.
Trading rooms continued to monitor new economic data, also putting the European Central Bank's latest minutes under the lens, which confirmed the central bank's commitment to a data-driven approach that will guide the decision on when to halt rate hikes.
The sharp slowdown in U.S. producer prices, moreover, reinforces expectations of a halt in the Fed's monetary tightening, with markets, in any case, already discounting the planned 25 basis point hike at the July meeting.
Thus, the FTSE Mib closed up 0.8 percent to 28,774.77, the Mid-Cap gave up 0.1 percent to 43,870.87, the Small-Cap closed in the red 0.2 percent to 26,690.82 while Italy Growth rose 0.2 percent to 9,105.62.
In Europe, Paris' CAC 40 closed up 0.6 percent, London's FTSE 100 closed up with 0.4 percent while Frankfurt's DAX closed up 0.8 percent.
Among blue chips, good session for Banca Monte dei Paschi, which closed up 3.9% at EUR2.4960 per share and for the fifth session in a row on the bullish side.
High quarters also for another banker, BPER, which put up 2.2 percent, closing at EUR2.93. The stock on the day touched a new 52-week high at EUR2.95 per share.
Pirelli closed up 1.8 percent, on its third bullish session and with new price at EUR4.72 per share.
"Telecom Itala back in the spotlight over debt and ongoing maneuvers on network sale. The telephone group issued a EUR750 million bond at a record 7.875% rate as rumors emerge that the Abu Dhabi sovereign wealth fund is in talks with the Americans of Kkr to jointly take over the Telecom infrastructure," writes Alliance News columnist Francesco Bonazzi. The stock closed up 0.3 percent.
"The market capitalization of the Pietro Labriola-led group is at EUR5.45 billion while net financial debt is traveling at EUR25.5 billion. Bids for the network, so far, are worth just over EUR23 billion but the top shareholder, Vivendi SA -- with 24 percent -- expects EUR30 billion and the game is stalled. TIM's bond is a EUR750 million unsecured, fixed-rate, five-year term placed at a 7.875 percent rate reflecting the uneasy market phase and the need for financial oxygen for a group that expected to resolve the network dossier much sooner. The bond includes a put option in the event of a takeover bid. At the same time, two issues were repurchased on the market worth EUR2 billion," Bonazzi points out.
Prysmian Group - down 0.5 percent - on Thursday signed with a pool of leading domestic and international banks the renewal of a long-term Sustainability-Linked revolving credit facility worth EUR1 billion.
On the cadet segment, boost on Zignango Vetro, which took home 1.4 percent positioning itself for the third session in a row on the bullish side.
Datalogic, on the other hand, picked up 1.6 percent, following the eve's decline with 0.4 percent and setting the price in the EUR6.79 area.
Tamburi Investment Partners - in the green with 0.3 percent - reported Thursday that Standard Ethics, an independent agency that analyzes sustainability policies put in place by companies, raised TIP's Corporate Standard Ethics Rating to "EE" from the previous "EE-" with "Positive" Outlook.
Tod's -- in letter with 2.7 percent -- announced Wednesday evening that Walter Chiapponi will leave the creative direction of Tod's Men's and Women's brand collections. The decision, it said, was made by mutual agreement. The stock closed the session down by %.
LU-VE - down 2.3 percent - reported on Thursday key results as of June 30, having reported product sales of EUR319.6 million, up 2.7 percent from the same period in 2022. On a like-for-like basis, the change would have been 0.7%.
On the SmallCap, after the boost that led Restart to appreciate with 8.6 percent after the eve's red with 1.5 percent, the shares closed flat at EUR0.1970. The stock on a monthly basis marks minus 18%.
Buying prevailed on Aquafil, on the list highs with a plus 7.9% and rearing its head after two sessions among the bearish.
PLC, on the other hand, took home 4.4 percent, after eve's 1.8 percent loss.
Among SMEs, Finance.tech closed ahead with 7.7 percent. There was a high trading volume of about 138,000 on the stock, compared to a three-month daily average of about 19,000.
Franchetti, on the other hand, rallied 3.3 percent, rearing its head after two sessions in negative balance.
Svas Biosana--flat at EUR7.58--reported Thursday that it had completed the issuance of two bonds totaling EUR13 million. The two bonds, which are non-convertible and non-subordinated, are instrumental in supporting the group's investment plan and were underwritten by Crédit Agricole Italia, in the role of anchor investor, Iccrea Banca, Banca di Credito Popolare and Finest.
In New York, the Dow is rallying 0.1 percent, the Nasdaq 1.1 percent, and the S&P 500 is marking plus 0.6 percent.
Among currencies, the euro changes hands at USD1.1191 against USD1.1121 on Wednesday's European equities close, while the pound is worth USD1.3100 from USD1.3000 on Wednesday evening.
Among commodities, Brent crude is worth USD80.41 per barrel versus USD80.12 per barrel at Wednesday's close. Gold, on the other hand, trades at USD1,960.57 an ounce from USD1,956.74 an ounce on Wednesday evening.
On Friday's macroeconomic calendar, Japan's industrial production will come in at 0630 CEST while from Germany, at 0800 CEST, it will be the turn of the wholesale price index. At 1000 CEST, from Italy, focus on the trade balance, followed at 1100 CEST by that of the Eurozone.
At 1430 CEST, from the U.S., eyes on the import and export price index while, at 1900 CEST, the Baker Hughes drilling rig data will be released and, at 2230 CEST, as usual on Fridays, the COT Report will be released.
Among the companies in the Square of Business, no particular announcements are expected.
By Maurizio Carta, Alliance News reporter
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