(Alliance News) - On Thursday, European stock markets are moving toward an upbeat opening on the back of improving risk appetite, with the U.S. dollar and Treasury bond yields down slightly from recent highs.

Investors also await further comments from economic and political leaders at the World Economic Forum in Davos, Switzerland. Meanwhile, European Central Bank officials continued to take an aggressive tone in Davos, shielding against speculation of aggressive interest rate cuts.

Thus, the FTSE Mib is advancing 30.00 points after closing 0.8 percent in the red at 30,098.86 last night.

Among the smaller listings, the Mid-Cap gave up 0.5 percent to 44,090.45, the Small-Cap fell 0.9 percent to 27,338.70, and Italy Growth closed 0.3 percent in the red to 8,215.06.

In Europe, London's FTSE 100 is advancing 4.30 points, Paris' CAC 40 is up 18.30 points, and Frankfurt's DAX 40 is posting a gain of 40.10 points.

On the Mib last night, Iveco Group closed 2.0 percent in the red. The company announced Wednesday that it has won its largest electric bus contract in Italy and will supply 411 battery electric vehicles to ATAC Spa, the mobility company for public transport in the capital.

The contract is worth more than EUR300 million and is part of ATAC's strategic plan to offer increasingly sustainable, efficient and affordable mobility, the company points out in a note.

The supply includes the new electric buses, 12 or 18 meters in length, and their complete maintenance for ten years. The first deliveries are expected by the end of 2024, and all remaining buses will be delivered by mid-2026.

Telecom Italia - in the green by 0.9 percent, as part of the activities aimed at closing the NetCo sale transaction and following the signing of the transaction agreement with Optics BidCo - a subsidiary of KKR - announced on Wednesday that it had received approval to execute the transaction for the purposes of the Golden Power regulations.

The consent order, by which the Council of Ministers exercised special powers in the form of prescriptions only, endorsed the commitments submitted during the proceedings. These were commitments deemed by the government to be fully adequate to guarantee its protection of the strategic interests related to the assets involved in the transaction.

Mediobanca rose 2.6 percent after announcing Tuesday the birth of Mediobanca Premier, the bank specializing in the management of savings and investments of Italian families. "This is a key initiative in the Mediobanca Group's growth path outlined in the 2023-26 Strategic Plan 'One Brand - One Culture,' which sees as a priority objective the development of the Wealth Management division," the bank's note reads.

Down goes fashion, with Moncler closing on the bottom giving up 2.8 percent. Brunello Cucinelli also did poorly, down 1.8 percent.

On the cadet segment, Webuild -- up 5.3 percent -- announced Wednesday that it will carry out interventions for the EUR4.7 billion Trojena ski destination in Saudi Arabia.

This is a "unique infrastructural intervention to create in a desert area a resort of the future with dams, a lake, and iconic architectural works," the company announced.

More than 10,000 people, including direct and third-party personnel, are estimated to be employed to carry out the works, commissioned by client Neom.

Maire Tecnimont closed flat at EUR4.89 per share after reporting Wednesday that subsidiary Tecnimont was awarded a front-end-engineering design contract for a green ammonia plant in Norway.

The contract was awarded by Fortescue, a global company active in green technologies, energy and metals.

Among smallcaps, Itway -- in the green by 2.7 percent at the close -- continuing its growth and expansion plans, announced Wednesday that it has entered into a strategic partnership with Rafiflow in OT Cyber Resiliency.

Radiflow, founded in 2009 and based in Tel Aviv, offers solutions successfully used by major industrial and utility companies that protect more than 6,000 critical facilities worldwide.

As a result of this partnership, Itway expects additional revenues of EUR5 million over the next three years in reference to a variety of sectors such as manufacturing, chemicals, power and renewable energy, oil and gas, water/sewer, transportation and logistics.

BF closed in the green by 0.3 percent to EUR3.89 per share after announcing Tuesday that subsidiary BF International Best Fields Best Food Limited has entered into a partnership with Musahamat Farms Limited, a Ghanaian-registered company active in the agricultural sector.

FNM gave up 0.7 percent after announcing Monday that it has decided to take over 80 percent of Viridis Energia Spa from Lagi Energia 2006 Srl and HNF Spa, which hold 55.7 percent and 33.3 percent, respectively.

Openjobmetis -- flat at EUR16.00 per share -- on Monday announced that it had finalized the acquisition of 100 percent of Just On Business Spa and 100 percent of its subsidiary Deine Group Srl.

The agreed consideration is EUR29.7 million in cash, plus the signing of a 3-year non-compete agreement with the founding partners valued at EUR2.2 million in total.

Among SMEs, SIF Italia--up 3.5 percent--reported that it has appointed Vincenzo Acunto as the company's new board member and CEO.

Gibus gave up 5.8 percent after reporting Tuesday that it ended 2023 with revenues of EUR91.4 million, up 8.8 percent from EUR83.9 million in the previous year.

The 2023 performance is mainly attributable to the contribution of the Leiner Group, which was acquired on Sept. 30, 2022 and consolidated as of Oct. 1 of the same year: the deal helped consolidate the group's business model and increase penetration in key European markets, namely Germany and Benelux.

ESI - down 1.7 percent - announced on Monday that it had signed a contract with a leading multinational oil & gas company for the turnkey EPC construction of a new photovoltaic plant with a total capacity of 10 MWp in Piedmont.

The contract amount of approximately EUR5.7 million will be accrued in fiscal year 2024.

In New York, the Dow closed 0.3 percent in the red, the Nasdaq gave up 0.6 percent, and the S&P 500 left 0.6 percent on the sidelines.

Among Asian exchanges, the Shanghai Composite closed up 0.4 percent, the Nikkei in the fractional red, while the Hang Seng is advancing 0.9 percent.

Among currencies, the euro changed hands at USD1.0900 against USD1.0848 recorded at Wednesday's European stock close, while the pound is worth USD1.2693 from USD1.2662 last night.

Brent crude is worth USD78.16 per barrel versus USD77.66 per barrel at Wednesday's close. Gold, meanwhile, trades at USD2,011.59 an ounce from USD2,011.50 an ounce last night.

On Thursday's macroeconomic calendar, at 1000 CET, Spain's trade balance is released and at the same time comes current account data.

In the Eurozone, at 1100 CET, the data on production in the construction sector is released.

At 1330 CET, the ECB publishes the minutes of the meeting concerning monetary policy decisions. Overseas, at 1430 CET, data on continuing unemployment claims and new construction sites are expected.

At 1615 CET, a speech by ECB President Christine Lagarde is expected.

Among companies listed on the Stock Exchange, no particular announcements are expected.

By Maurizio Carta, Alliance News reporter

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