(Alliance News) - On Thursday, major European stock markets continue the day in positive territory, but with less momentum than at the start after the release of flash PMI data in the Eurozone.

Thus, the FTSE Mib is in the green by 0.3 percent to 34,394.04, the Mid-Cap picks up 0.7 percent to 47,604.91, the Small-Cap is in the green by 0.3 percent to 27,613.83, while Italy Growth is up by 0.1 percent to 8,173.32.

In Europe, Paris' CAC 40 is in the fractional red, London's FTSE 100 is up 1.0 percent, while Frankfurt's DAX 40 is up 0.4 percent.

In macroeconomic news, Eurozone economic activity indicated near-stable values, with provisional data from the March PMI survey showing only a marginal decline in the output of goods and services. The modest recovery in the service sector picked up steam, and was accompanied by a weaker decline in manufacturing output.

However, the current contractions reported in France and Germany have offset the stronger recovery in the rest of the Eurozone, signaling an uneven economic picture.

In fact, private sector output in Germany contracted at the smallest pace in three months, mainly due to a near-stabilization of activity in the services sector and a slightly smaller decline in manufacturing output.

The manufacturing purchasing managers' index, on the other hand, fell to 41.6 in March from 42.5 in February, below forecasts of 43.1, according to S&P Global's preliminary estimates.

In France, both the services sector - 47.8 versus 48.4 - and manufacturing activity - 45.8 versus 47.1 - accentuated the downturn amid a faster deterioration in demand for French goods and services.

New orders fell at a slightly faster pace. As a result, employment fell for the fourth time in the past five months.

Back in Milan, on the Mib, on the heels of European registration data, Stellantis -- in the green by 1.6 percent -- reported that sales in February were up 11 percent from February 2023, with market share rising to 18.7 percent in February from 18.5 percent in February 2023.

Poste Italiane -- in the green by 0.2% -- unveiled its new strategic plan to 2026 on Wednesday, which calls for growth in investments and estimates rising revenues and profits over the plan's span. The dividend is expected to be no less than EUR1.00 from 2026 while revenues are expected at EUR13.5 billion in 2028, with average annual growth of 3 percent. Operating income is forecast at EUR3.2 billion, with CAGR of 4%, and net income is expected at EUR2.3 billion at the end of the plan, with annual growth of 4%.

Down goes Terna, in the red by 0.5 percent. Goldman Sachs raised its target price to EUR7.95 from the previous EUR6.65. The company also reported that Moody's confirmed its 'Baa2' long-term rating on the company, with a Stable outlook.

Worse still is Nexi, down 2.6 percent, preceded by Banca Popolare di Sondrio, down 2.3 percent.

On the cadet segment, ENAV rises 6.2% after announcing Thursday that it closed 2023 with a consolidated profit of EUR112.7 million from EUR105.0 million as of December 31, 2022.

The company said it had proposed a dividend of EUR0.23 per share from EUR0.1967 in 2022.

Revenues grew to EUR1 billion in the period from EUR944.3 million in 2022.

Fitch Ratings announced Wednesday that it had upgraded Acea's outlook -- up 0.4 percent -- from Negative to Stable, confirming the long-term issuer default rating at 'BBB+'.

In addition, the rating agency confirmed the short-term IDR at 'F2' and the long-term senior unsecured rating at 'BBB+'.

The improved outlook reflects Acea's good financial performance recorded in 2023, careful working capital management, and net debt-to-Ebitda ratio in planned arc not exceeding 3.5 times.

MFE-MediaForEurope -- B shares in the green by 0.1 percent and A shares up by 0.5 percent -- on Thursday proposed that the separation of the Dating & Video and Commerce & Ventures segments from the Entertainment Business segment of ProSiebenSat.1 -- in which MFE is the largest shareholder -- be prepared through a "Resolution on the Preparation of a Demerger and Transfer Agreement in Accordance with Section 83 AktG."

The resolution will be submitted to the shareholders' meeting on April 30.

On the Small-Cap, doValue rises 5.4 percent after approving preliminary results as of Dec. 31 on Thursday, closing with a net loss, including nonrecurring items, of EUR17.8 million, compared to a EUR16.5 million profit in 2022.

The company also approved the plan to 2026, which forecasts gross revenues in the range of EUR480-490 million, of which 35-40% are non-NPL.

Gross Book Value in 2026 is expected to be about EUR110 billion with a funding rate of about 5.5%; ex-NRI Ebitda is given in the range of EUR185-195 million, with an Ebitda margin of about 39%.

LVenture Group rises 3.9%, after announcing Wednesday that it closed 2023 with a loss of EUR3.2 million, worsening from a loss of EUR2.7 million as of Dec. 31, 2022.

Revenues for the period amounted to EUR6.3 million from EUR6.5 million in 2022.

FILA -- in the red by 2.2 percent -- on Tuesday reported that it ended 2023 with consolidated revenues of EUR779.2 million from EUR764.6 million as of Dec. 31, 2022. Normalized net income in the period was EUR40.6 million from EUR42.8 million in 2022. The company said it has proposed to distribute a dividend of a maximum total amount of EUR6.1 million, confirming that of EUR0.12 per share in 2022.

Among SMEs, Altea Green Power rises 4.5 percent after announcing Thursday that a co-development agreement for electricity storage systems "BESS Storage" was signed with a major North American investment fund specializing in alternative energy.

The value of the sale is more than EUR68 million plus a success fee of up to EUR15 million that will be defined in relation to the achievement of performance ratios agreed between the parties, the company explained in a note.

Growens rises 0.7 percent, rewarded by good 2023 accounts. The company ended last year with a net profit of EUR53.2 million, compared to the EUR2.5 million red booked in 2022, "as a result of the extraordinary divestment operations carried out in 2023."

ELES Semiconductor Equipment rises 11 percent after it announced Wednesday that it has signed an agreement with Manakin Enterprise Private Limited, a subsidiary of IHE for distribution in the Indian market of Eles solutions aimed at semiconductor reliability testing.

Impianti rises 3.2 percent after it announced Wednesday that it has been awarded a framework agreement related to a tender lot for the supply and installation of Ledwall systems, the company's share of which is EUR2.1 million.

In New York, the Dow closed up 1.0 percent, the Nasdaq rose 1.3 percent, and the S&P 500 advanced 0.9 percent.

Among currencies, the euro changed hands at USD1.0919 against USD1.0857 recorded in Wednesday's European stock close while the pound was worth USD1.2778 from USD1.2717 on Wednesday evening.

Brent crude is worth USD85.83 per barrel versus USD85.78 per barrel at Wednesday's close. Gold, meanwhile, trades at USD2,212.45 an ounce from USD2,157.09 an ounce on Wednesday evening.

Thursday's macroeconomic calendar includes at 1300 CET, the Bank of England's interest rate decision.

At 1330 CET, from the U.S., will be coming the report on unemployment claims, followed at 1445 CET by the manufacturing and tertiary PMI.

At 1500 CET, there will be the release of the report on existing home sales.

In the evening, at 2130 CET, there will be the release of the Federal Reserve's weekly balance sheet.

By Claudia Cavaliere, Alliance News reporter

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