(Alliance News) - The Mib index closed higher for the fourth consecutive session on Thursday, raising the bar well above 27,800 -- the new high for more than a year -- and aligning with the other major European listings.

Market sentiment has been buoyed by optimism derived from corporate results, which are gaining space, while recent macro data attempt to give additional clues and insights into what the next moves by major central banks may be.

Meanwhile, the ECB-through its number one Christine Lagarde-attempted to provide clarity, anticipating that the central bank will proceed with a further rate hike of 50 basis points and then "assess the next path."

On Eccles Building, in the CME Group platform's FedWatch Tool -- using futures also based on the actual federal funds rate, or EFFR -- the main rate hike for the March 22 meeting has a 91 percent probability of a hike in the 475/500 bps range. In contrast, the probability of an increase in the 500/525 bps area is at 9%. The current target is between 450 and 475 bps.

Thus, the FTSE Mib, closed in the green by 1.2 percent at 27,853.74.

In Europe, Paris' CAC 40 rose 0.9 percent, London's FTSE 100 closed in the green by 0.2 percent as did Frankfurt's DAX 40.

Among the smaller lists, the Mid-Cap is in the fractional red at 44,781.10, the Small-Cap closed down 0.1% at 30,308.52, and Italy Growth closed up 0.3% at 9,704.40.

On the main list of Piazza Affari, Tenaris does best of all up 8.0% after announcing record results for 2022 on Wednesday evening. As of Dec. 31, 2022, Tenaris reported last quarter net sales of USD3.62 billion, up 76 percent from USD2.06 billion in the fourth quarter of 2021. Growing by triple digits, meanwhile, was net income, which rose to USD803 million in the last quarter of the year, 139% higher than the same period in 2021. Net income for the 12 months amounted to USD2.55 billion, "and reached a record high," as the company explained in a note, up 142% on USD1.05 billion in the year 2021.

UniCredit, on the other hand, rises 4.3 percent to EUR19.42. The stock touched a 52-week high at EUR19.46.

Pirelli follows, up 3.4 percent to EUR4.96 per share and closing for the fourth session in a row on the bullish side.

Plans are also high for Saipem, which moves ahead 1.5 percent after falling 2.4 percent on the eve of the session.

Interpump Group, on the other hand, closed down 0.5 percent. The company approved its December 31 interim report, which closed with consolidated net income for the period at EUR269.6 million from EUR198.5 million, up nearly 36 percent. Net sales for the year totaled EUR2.07 billion, up 30 percent on the previous year.

Enel, on the other hand, gives up 0.2 percent after a 0.1 percent loss on the eve of trading.

On the Mid-Cap, Banca Monte dei Paschi di Siena remained bullish until the close, ending with a 4.1 percent profit. The company reported Thursday that rating agency Moody's Investors Service upgraded the bank's ratings by 2 notches, raising the standalone Baseline Credit Assessment to "b1" from "b3," the long-term deposit rating to "Ba2" from "B1," and the subordinated debt rating to "B2" from "Caa1." The long-term senior unsecured debt rating was upgraded by 3 notches to "B1" from "Caa1."

Tod's closed ahead for the fourth session in a row, advancing 1.5 percent to EUR36.68.

Webuild -- down 0.2 percent to EUR1.73 -- reported Thursday that Clough's creditors' meeting, held on Feb. 15, 2023 in Australia, approved the proposed acquisition of Clough's assets by the group and that as of Feb. 16, 2023, the company thus assumes management and control of Clough's business in Australia and Papua New Guinea.

Anima Holding, on the other hand, marks a 0.1 percent red. Mediobanca announced Wednesday morning that it had concluded on behalf of FSI the purchase of 25.0 million ordinary shares of Anima Holding in a "reverse accelerated bookbuilding" procedure. The total consideration, based on a price per share of EUR4.35, is equivalent to a EUR108.7 million outlay for the strategic fund.

On the bottom end is Ariston Holding, which gives up 2.4 percent, on the heels of eve's red with 0.7 percent.

On the Small-Cap, Eems moves ahead 7.1% to EUR0.0448, ending for the third session in a row bullish.

High quarters also for I Grandi Viaggi, which advances 4.0% after eve's 4.5% step back.

Sabaf -- up 0.1 percent -- on Tuesday approved results as of December 31, 2022, reporting a 3.9 percent drop in revenues to EUR253.1 million from EUR263.3 million a year earlier. Net income for the period was EUR15.7 million, down 34 percent from EUR23.9 million in FY2021.

Among the bearish, list minority, LVenture, on the other hand, gives up 5.0 percent to EUR0.3610, after eve's green with 8.9 percent.

Among SMEs, Alfonsino closes in the green - up 1.7 percent - after announcing its partnership with Beintoo, a data company of the Mediaset group, operating in the digital advertising and data-driven marketing sectors.

Frendy Energy, on the other hand, rises 10 percent bringing its price to EUR0.2640, reversing a three-session downtrend.

Leone Film Group closes down 1.8 percent after announcing Thursday that it reported revenues of EUR55.8 million in 2022, down 43 percent from EUR98.6 million in 2021. The decrease, the company explained, was mainly due to a reduction in the year in revenues from international executive productions and the fact that many of the year's major series productions will be delivered in 2023.

Also hurting is GEL, down 6.2 percent after announcing on Wednesday that turnover as of December 31, 2022, was approximately EUR17.2 million, down 7.5 percent from the figure as of 2021, when it amounted to EUR18.6 million.

In New York, the Dow is giving up 0.5 percent as are the Nasdaq and the S&P 500.

Among currencies, the euro changes hands at USD1.0678 versus USD1.0677 at Wednesday's close. In contrast, the pound is worth USD1.2012 from USD1.2019 on Wednesday evening.

Among commodities, Brent crude is worth USD85.41 per barrel versus USD84.11 per barrel on Wednesday evening. Gold, on the other hand, trades at USD1,836.65 an ounce from USD1,831.95 an ounce at Wednesday's close.

On Friday's economic calendar, at 0800 CET from the United Kingdom the retail sales figure is due, along with Germany's producer price index.

From France comes the inflation figure at 0845 CET, while at 1000 CET, from the Eurozone, it is the turn of the seasonally adjusted current account.

At 1445 CET Bowman from the Fed will give a speech, while at 1900 CET Baker Hughes data will come out. Finally, as usual on Friday, at 2130 CET, it will be the turn of the COT Report.

Among the companies expected are the accounts of BB Biotech.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.