(Alliance News) - European stock indexes continued upward Thursday, with trading desks awaiting the release of important U.S. economic indicators, including data on producer prices and initial claims for unemployment benefits, expected later in the day.

The data could give some further clues about the Eccles Building monetary policy, which markets are expecting for a hike to June pricing it in with probability of about 60 percent.

Both the Fed and ECB have signaled that interest rate cuts could come soon, and investors currently point to the first cut for June. Most ECB officials focus on that month as the starting point for rate cuts.

The ECB-according to a good portion of analysts-is expected to cut borrowing costs by about one percentage point in 2024.

Thus, the FTSE Mib, is advancing 0.3 percent to 33,983.52, the Mid-Cap is giving up 0.1 percent to 46,954.44, the Small-Cap is advancing 0.5 percent to 27,759.36, and Italy Growth is down 0.3 percent to 8,042.00

In Europe, London's FTSE 100 is moving down 0.1 percent, Frankfurt's DAX 40 is advancing with 0.3 percent, and Paris' CAC 40 is picking up 0.8 percent.

On the Mib, Leonardo's good session continues, leading the price up 5.1% to EUR21.74, touching a 52-week high at EUR21.78 per share.

Boost also on Telecom Italia, which brings the price up 4.4 percent, after the 0.7 percent green in the previous session.

Strength also on ERG, which moves ahead 2.8% to EUR24.58 per share. The company reported Wednesday that reported group net income was EUR179 million compared to EUR379 million in 2022. The adjusted one from continuing operations was EUR226 million compared to EUR129 million in 2022. The board proposed a dividend of EUR1.00 per share, confirming the previous year's amount.

Snam -- in the green by 0.7 percent -- ended 2023 with an adjusted net profit of EUR1.17 billion, up 0.4 percent from EUR1.16 billion booked the previous year. The company pointed out that the positive results from operations, together with the solid performance of investee companies, were partly offset by higher financial expenses and income taxes. Net accounting profit was EUR1.14 billion.

In the rear, Azimut Holding is leaving 0.9 percent on the parterre, with new price at EUR24.83, after two sessions closed higher.

Banca Monte dei Paschi also gives way, in the red by 1.0 percent after the previous session's 0.7 percent green.

On the cadet segment, still push on De'Longhi, which advances well benefiting from the good accounts presented a few days ago. The stock - which advances 1.3% - is thus aiming for its fourth session to close among the bullish.

OVS, on the other hand, is raising the bar by 3.7 percent, with price at EUR2.33, continuing steadily with its buyback program. Lastly, it reported on Monday that it had bought back its own ordinary shares - between March 4 and March 8 - for a total value of EUR1.8 million.

MARR's board of directors -- in the green by 4.4 percent -- on Wednesday approved the 2023 financial statements today, reporting a consolidated net profit of EUR47.1 million, which compares with EUR26.6 million in 2022, which "was affected by higher net financial charges of EUR9.7 million due to the increase in the cost of money as of the second half of 2022," the company wrote in the note. The board proposed a gross dividend of EUR0.60 per share compared to EUR0.38 in the previous year.

Salcef, on the other hand, is giving up 2.0 percent, with new price at EUR21.95 per share, following a 0.2 percent decline in the previous session.

Reply -- down 2.0 percent -- announced Wednesday that it had approved its fiscal year 2023 results, which closed with a profit of EUR186.7 million, down from EUR191.0 million as of Dec. 31, 2022.

Digital Value, on the other hand, is giving up 1.3 percent, with price at EUR54.90 per share, following up the eve's 1.2 percent decline.

Negative note and backwardation also for Italmobiliare, which marks minus 0.9% after two bullish sessions.

The board of directors -- down 4.2% -- approved results for the first nine months ended January 31, reporting a profit of EUR64.9 million, down slightly by 3.6% year-on-year. Revenues totaled EUR2.39 billion, a growth delta of more than 10 percent.

On the Small-Cap, head of the list for Digital Bros, which posted a plus 11 percent. The company announced that its board of directors approved the condensed half-year financial report as of December 31, reporting a loss of EUR6.4 million for the first six months of the year, compared with a profit of EUR11.0 million in the first half of the previous year. This loss, the statement said, "will be recovered during the second half of the year."

Caleffi, on the other hand, advances 3.8 percent, rearing its head again after three sessions in the negative and bringing its price to EUR0.93.

Among SMEs, strength on ALA, which marks a plus 3.4 percent to EUR18.40 per share after the 1.9 percent red on the eve.

Fervi, meanwhile, advances 3.3%, with new price at EUR15.80 per share. The stock, in 2024, is marking a loss of about 11 percent.

Bellini Nautica is advancing 3.0%, after two sessions ended among the bearish.

Iervolino & Lady Bacardi is giving way, contracting 3.2% bringing the price back to the EUR0.60 area.

Espe, on the other hand, is giving up 2.1 percent, breaking a ten-session uptrend.

In New York, the Dow picked up 0.1 percent, the Nasdaq gave up 0.5 percent, and the S&P 500 closed down 0.2 percent.

Among currencies, the euro changed hands at USD1.0937 against USD1.9043 recorded in Wednesday's European stock close, while the pound was worth USD1.2810 from USD1.2794 on Wednesday evening.

Brent crude is worth USD84.57 per barrel versus USD83.69 per barrel at Wednesday's close. Gold, meanwhile, trades at USD2,170.60 an ounce from USD2,177.75 an ounce on Wednesday evening.

On Thursday's macroeconomic calendar, the US producer price index, retail sales and continuing unemployment claims data are due at 1330 CET.

At 1330 CET in Canada, manufacturing sector sales are released and at 1445 CET the German non-seasonally adjusted current account.

By Maurizio Carta, Alliance News reporter

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