(Alliance News) - On Thursday, European stock markets continued trading in a bullish trend, reckoning with weak economic data from both Europe and the United States that rekindled optimism that central banks may be nearing the end of their interest rate hikes.

Investors are focusing their attention on key speeches, expected on Friday, by Federal Reserve Chairman Jerome Powell and ECB President Christine Lagarde at the Jackson Hole conference, which are expected to provide - these are the hopes - further insights into the future direction of monetary policy.

Thus, the FTSE Mib is up 0.3 percent to 28,312.32, the Mid-Cap is up 0.1 percent to 41,221.50, the Small-Cap is in the green 0.1 percent to 26,864.90, and Italy Growth is in the green 0.1 percent to 8,848.64.

In Europe, Paris' CAC 40 is up 0.3 percent, as are Frankfurt's DAX and London's FTSE 100.

On the blue chip list, gains on ERG, which leads the list with a green of 1.8 percent on the heels of eve's 3.5 percent gain.

Boost also on Campari, which advances 1.4% to EUR11.94 per share on the heels of eve's 1.6% green.

Terna rises 0.4%. The company reported Tuesday that in July, electricity demand in Italy totaled 30.1 billion kWh, registering a 3.3% decrease compared to the same period in 2022. In July, 85.6 percent of Italy's electricity demand was met by domestic production and the remaining 14.4 percent by the balance of energy traded with foreign countries. Net domestic production was 25.9 billion kWh, down 2.7 percent from July 2022.

Still doing well was Prysmian, in the green by 0.5 percent. The company announced Tuesday that it has been selected by TSO Amprion, a leading European transmission system operator, as preferred bidder for the two offshore grid connection systems BalWin1 and BalWin2 and the DC34 onshore cable project.

Among the few bearish performers, doing worse than all is Iveco, which marks minus 2.3 percent bringing the price back to the EUR8.43 area.

Telecom Italia, on the other hand, marks a minus 0.2 percent after the 0.4 percent gain on the eve.

On the Mid-Cap, GVS rises well, up 2.5% to EUR5.68 after the 2.4% loss on the eve.

Good purchases also on Zignago Vetro, which marks a plus 2.0% to EUR15.46 per share.

Salcef Group--flat at EUR24.30 per share--reported Wednesday that its subsidiary Salcef Spa won the tender called by ANAS--of the FS Italiane group--for the construction of one of the key projects for the Jubilee 2025 in Rome. Specifically, the project involves the burying of the existing road system in Piazza Pia through the extension by about 130 meters of the existing underpass built as part of the Jubilee 2000 works. Thanks to this intervention, a continuous pedestrian path will materialize between the area in front of Castel Sant'Angelo and Via della Conciliazione, resulting in an improved usability of a stretch now affected by intense vehicular flow. The contract amount is approximately EUR35 million.

Ascopiave, among the negative notes, closed down 1.2 percent to EUR2.14 after two bullish sessions.

On the Small-Cap, Alkemy advances 3.6 percent to EUR10.38 per share, on the heels of eve's 0.8 percent gain.

Digital Bros is in the green by 3.1 percent, following a 0.1 percent decline on eve. The stock was previously coming off four bullish sessions.

Zucchi is also doing well, advancing 2.2 percent to EUR2.34 per share.

Itway is giving up 2.3% to EUR1.63 per share, positioning the snout toward its third bearish session.

Among SMBs, Solutions Capital Management SIM - flat at EUR2.50 - announced Wednesday that it has signed an agreement with an insurance intermediary to refer professionals interested in signing collaboration contracts to distribute insurance products on behalf of SCM. The company believes that the expansion of the sales force will be able to contribute positively to the company's results in the medium term, following a major increase in the commission base supported by a slight increase in structural costs.

Innovatec rises 1.7 percent. On the stock it is mentioned that Modefinance, an Italian rating agency registered with ESMA, has confirmed the public 'B1+' rating to creditworthiness. "This rating - equivalent, on the basis of the current mapping, to the 'BBB+' rating of the main international rating agencies - represents a higher score than the minimum required to consider the company's issues investment grade," the company explained in a note.

Instead, E-Globe advances 7.6 percent to EUR1.62 per share, rebounding after eight sessions closed among the bearish.

At the back of the pack, ISCC Fintech closed down 3.7 percent to EUR3.12.

In New York on Wednesday, the Dow Jones closed in the green by 0.5 percent to 34,472.98, the S&P finished up 1.0 percent to 4,436.01, and the Nasdaq gained 1.6 percent to 13,721.03.

Among currencies, the euro changed hands at USD1.0849 versus USD1.0852 in Wednesday's European equities close while the pound was worth USD1.2673 from USD1.2706 on Wednesday evening.

Among commodities, Brent crude is worth USD83.60 per barrel versus USD83.46 per barrel at Wednesday's close. Gold, meanwhile, trades at USD1,919.30 an ounce from USD1,916.81 an ounce on Wednesday evening.

On Thursday's economic calendar, the day the Jackson Hole symposium begins, at 1430 CEST, unemployment claims are expected from the U.S. and, at the same time, durable goods orders.

At 1730 CEST, the auction of 4- and 8-week Treasury bonds will be held while, at 1900 CEST, an auction of bonds with a 20-year maturity is scheduled.

By Maurizio Carta, Alliance News reporter

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