(Alliance News) - Piazza Affari continued upward Thursday into mid-session, matching the good performance of European exchanges, with trading rooms responding positively to data indicating that inflationary pressures in the eurozone cooled more than expected in May, along with good data in the labor market.
The eurozone consumer price inflation rate slowed to 6.1 percent in May, down from 7.0 percent in the previous month and below market expectations of 6.3 percent, according to preliminary Eurostat estimates released Thursday. The rate reached its lowest level since February 2022, although it remained significantly above the European Central Bank's target of 2.0 percent.
On the labor market front, meanwhile, the eurozone unemployment rate in April was 6.5 percent, down from 6.6 percent in March and down from 6.7 percent in April 2022, data released by Eurostat on Thursday showed. The figure is in line with market estimates.
As known, the U.S. debt ceiling bill passed a vote in the House of Representatives. The House approved a debt ceiling and a package of budget cuts while Speaker Joe Biden and President Kevin McCarthy brought together a bipartisan coalition of centrist Democrats and Republicans to move the approval process forward, which now awaits the green light from the Senate.
In Milan, therefore, the FTSE Mib rises 1.9 percent to 26,534.01.
Among the smaller listings, the Mid-Cap is up 1.0 percent to 42,204.79, the Small-Cap is up 0.8 percent to 27,266.91, and Italy Growth is up 0.2 percent to 9,102.84.
In Europe, London's FTSE 100 is advancing 0.4 percent, Paris' CAC 40 is up 0.8 percent as is Frankfurt's DAX 40.
On the main list of Piazza Affari, Recordati continues, as seen since the bell rang, rising 5.4 percent with new price at EUR42.81.
High quarters also for Mediobanca, which is picking up 3.4 percent to EUR10.64.
Banca Monte dei Paschi di Siena on Thursday announced that rating agency Moody's has upgraded the outlook on long-term deposit and senior unsecured debt ratings from stable to positive, after raising the long-term deposit rating by two notches and the long-term senior unsecured rating by three notches in February. The stock moves among the best, picking up 3.2 percent.
UniCredit, meanwhile, advances 2.9 percent, breaking a three-session bearish mini-trend.
On the cadet segment, Salcef moves ahead 3.9 percent. The company continues with its buyback program, where as of last Monday it announced that it had - in the period between May 22 and May 26 - purchased its own ordinary shares for a total countervalue was nearly EUR700,000.
Banca Popolare di Sondrio also advances well, marking a plus 3.5 percent to EUR3.6240 after three sessions in which the sell side prevailed.
Iren -- up 1.3 percent -- reported Wednesday that its subsidiary Ireti Spa had taken a 2.4 percent stake in AcquaEnna from Cogen Spa, thus rising to 50.9 percent of the latter's capital, which will now be consolidated.
At the back of the pack, among the few bearish performers is Carel Industries, which marks minus 1.4 percent after Wednesday's 4.9 percent gain.
On the SmallCap, Exprivia takes the top by climbing over 18% and placing the new price at EUR1.5820 and positioning itself toward the sixth session to end on the bullish side.
Aquafil is picking up 3.2% to EUR3.92 per share, rearing its head after two sessions on the bearish side.
TXT e-solutions--up 0.7 percent--reported Wednesday that it bought 16,620 of its own ordinary shares in the days between May 22 and 26. The price charged was about EUR19.45 per share, for a total of EUR322,651.87.
SAES Getters -- in the money with 1.4 percent -- announced Wednesday that it has launched a tender offer for 1.4 million of its own savings shares. The takeover bid calls for a payment of EUR29.31 per savings share and is a component of a unitary transaction that also includes the mandatory conversion of the 6.0 million savings shares not purchased by the company through the takeover bid into ordinary shares of SAES Getters in the ratio of one to one.
Among SMBs, Italia Independent pushes ahead more than 10 percent to EUR0.70, rebounding after six sessions ended in negative balance.
The board of directors of MeglioQuesto - up nearly 16 percent - reviewed the main consolidated economic and financial operating data as of March 31, a period that ended with revenues reaching EUR24.7 million, up 50 percent from EUR16.5 million as of March 31, 2022. Value of production was EUR25.0 million, up 48 percent from EUR16.9 million as of March 31, 2022.
Innovatec-which is raising 0.7 percent-reported Wednesday that its subsidiary Innovatec Power Srl and Selettra Illuminazione pubblica Srl in RTI have been awarded four contracts worth a total of about EUR60 million and with a duration of 15 years, for the provision of services and integrated interventions aimed at upgrading and improving the energy efficiency of Buildings and Public Lighting Installations owned by several municipalities in the Salento area participating in the GROWS - Green Revolution Of Wealth in Salento project.
Crowdfundme instead gives up 3 percent, the subject of profit-taking after four sessions of rises.
In New York on European night, the Dow closed 0.4 percent in the red, the Nasdaq gave up 0.6 percent as did the S&P 500.
Among currencies, the euro changed hands at USD1.0704 versus USD1.0660 on Wednesday's European stock close. In contrast, the pound is worth USD1.2453 from USD1.2407 last night.
Among commodities, Brent crude is worth USD72.60 per barrel versus USD72.96 per barrel last night. Gold, on the other hand, trades at USD1,960.73 an ounce from USD1.2432 an ounce Wednesday night.
Thursday's macroeconomic calendar includes the data on jobless claims, due at 1430 CEST, as well as those on crude oil inventories, due at 1700 CEST. The day will close with the Federal Reserve's balance sheet and reserves data at the U.S. central bank.
By Maurizio Carta, Alliance News senior reporter
Comments and questions to redazione@alliancenews.com
Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.
