(Alliance News) - Thursday's confirmation that German airline Deutsche Lufthansa AG has agreed to buy a minority stake in Italian airline Italia Trasporto Aereo, operating as ITA Airways, ends another day that weighed on European stock markets.

Thus, the FTSE Mib closes down 0.4 percent to 26,408.00, the Mid-Cap up 0.2 percent to 41,884.57, com the Small-Cap to 27,557.02, while Italy Growth gives up 0.1 percent to 9,120.89.

In Europe, London's FTSE 100 ends down 0.7 percent, Paris' CAC 40 gives up 0.3 percent, while Frankfurt's DAX 40 loses 0.2 percent.

On oil markets, sentiment is negative: "After high expectations of a rise yesterday, oil prices tumbled on Thursday after Russia threw cold water on hopes of another production cut. Faced with falling demand, oil bulls capitulated again, possibly paving the way for a return to the May lows," commented Chris Beauchamp, Chief Market Analyst at IG.

On the main index in Piazza Affari, Tenaris, which lost 3.7 percent, and Saipem, down 2.9 percent, fell on this wave. ERG and Eni also follow, down 2.6 percent and 2.4 percent, respectively.

The banking sector leads the way, with UniCredit taking the lead with 2.0% and FinecoBank following with a 1.9% rise.

Luxury returns to do well with Moncler up 1.2%.

Generali after the accounts rises 0.5%. The board of directors approved financial information as of March 31, 2023, which shows gross premiums up 1.3% to EUR22.16 billion from EUR21.53 billion in the same period last year, "thanks to robust growth in the Non-Life segment," according to the company note.

Operating income grows to EUR1.82 billion, up 22 percent from EUR1.49 billion, mainly due to the contribution of the non-life segment.

Pirelli gives up 1.5 percent. Marco Tronchetti Provera will no longer be CEO of the company but will remain its executive vice chairman, according to the pact that went into effect May 19 but has been blocked pending the government's ruling on golden power and the Chinese takeover, Corriere della Sera reported. Tronchetti Provera has named Giorgio Bruno as his successor.

The agreement, in fact, will last until December 2025 and the next CEO "will be drawn from the majority list, that is, from Cnrc, so no longer Italian, but of Chinese expression," the newspaper says.

On the cadet segment, MFE-MediaForEurope--with A shares up 3.3 percent and B shares in the green by 0.5 percent--reported on Wednesday that its board of directors approved first quarter results in which a consolidated profit of EUR10.1 million was reported from EUR2.7 million in the same period last year.

Ebit is EUR19.3 million positive from EUR15.3 million in the first quarter of 2022.

Consolidated net revenues are EUR646.6 million from EUR654.3 million as of March 31, 2022.

Credito Emiliano closes at par after acer launched Monday its second green bond issue, aimed at institutional and professional investors, in the amount of EUR400 million.

The issue, in Senior Non Preferred format, represents the third ESG instrument launched in the market by the group since early 2022.

Brunello Cucinelli rises 0.6 percent after announcing Tuesday that it has reached an agreement with Chanel and the Cariaggi family to sell an 18.5 percent stake in Cariaggi Lanificio Spa to Chanel.

Cucinelli held 43 percent of Cariaggi Lanificio, and with the sale made today his stake becomes 24.5 percent. Under the same agreement, the Cariaggi family in turn sold a 6 percent stake in Cariaggi Lanificio to Chanel.

As a result of the sale transactions, the company's share capital is owned 51 percent by the Cariaggi family and 24.5 percent each by Brunello Cucinelli and Chanel.

On the Small-Cap, Mondo TV--green by 0.5 percent--reported Thursday that it had signed a new license with Sia All Media Latvia, a leading broadcaster operating in the Baltics, for the television broadcast of Agent 203 and Monster Loving Maniacs.

The series were co-produced by Mondo Tv with Toon2Tango, and the license includes the possibility of broadcasting the series for a period of three years.

Risanamento closes the listing down 17 percent, while Trevi Finanziaria does best of all with a 7.3 percent gain.

Among SMEs, GO internet gains 1.3 percent, in its third session on the bullish side.

Alfonsino, on the other hand, marks a 7.3 percent increase. The company reported Monday that first quarter revenues rose 9 percent year-on-year to EUR1.2 million from EUR1.1 million in the same period a year earlier.

DHH closes on a par after reporting Thursday that first-quarter revenues rose 42 percent year-on-year to EUR8.4 million from EUR5.9 million in the same period a year earlier.

As the company explained, organic growth was 13 percent, driven mainly by an increase in the IaaS business, the group's main revenue segment, which grew organically by 23 percent in the period. Recurring revenues accounted for about 95% of total revenues. The Balkan countries were the best performers on the organic growth front, with increases of 15 percent in Slovenia, 13 percent in Croatia, 16 percent in Serbia, and 18 percent in Bulgaria.

In New York, at the height of trading on Thursday, the Dow is in the red by 0.4 percent, the Nasdaq is up 1.6 percent, and the S&P 500 is in the green by 0.7 percent.

Among currencies, the euro changes hands at USD1.0726 versus USD1.0757 on Wednesday in closing European equities. In contrast, the pound is worth USD1.2336 from USD1.2366 on Wednesday evening.

Among commodities, Brent crude is worth USD76.64 per barrel versus USD78.24 per barrel Wednesday night. Gold, on the other hand, trades at USD1,945.60 an ounce from USD1,965.76 an ounce last night.

On Friday's macroeconomic calendar, while the Hong Kong stock exchange will be closed for holidays, Japan's inflation is expected at 0130 CEST.

At 0800 CEST, UK retail sales are released. Half an hour later it is the turn of the employment level in Switzerland, and at 0845 CEST it is the turn of the French consumer index.

At 1000 CEST, the Italian consumer and business confidence level is released.

From overseas, at 1430 CEST, come the durable goods order, consumer spending price index, PCE price index and personal consumption.

Among the companies listed on the Stock Exchange, the results of Imvest, Promotica and TrenDevice are expected.

By Claudia Cavaliere, Alliance News reporter

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