(Alliance News) - European indexes closed the day lower except for London on Thursday after key economic data supported the Fed's cautious stance and increased bets that interest rates will be cut only later in the year.

Thus, the FTSE Mib, closed in the red 0.3 percent to 33,786.18, the Mid-Cap gave up 0.3 percent to 46,866.83 as did the Small-Cap to 27,541.11, and Italy Growth closed in the red 0.5 percent to 8,025.51.

In Europe, London's FTSE 100 gave up 0.4 percent, Frankfurt's DAX 40 finished down 0.1 percent while Paris' CAC 40 closed up 0.3 percent.

On the Mib, Iveco Group did best of all, in the green by 11 percent after unveiling Thursday its new strategic plan to 2028 with key targets for industrial activities to 2028 that include net revenues of about EUR19 billion, adjusted Ebit margin between 7 percent and 8 percent, free cash flow of about EUR900 million. At the consolidated level, the company expects adjusted net income of EUR900 million and adjusted diluted earnings above EUR3 per share.

Saipem and TIM follow, up 4.5 percent and 3.5 percent respectively.

At the other end of the list, Eni gives up 0.6 percent and ends at the bottom. On Thursday it made it known that it expects to generate cash flow from operations before working capital of about EUR13.5 billion in 2024 and EUR62 billion over the four-year plan, up 30 percent under a constant scenario.

In terms of net investments 2024-2027, these in the plan amount to EUR27 billion - net of cash from portfolio activity - for an annual average of EUR7 billion, more than 20 percent lower than last year's Plan, thanks to optimized spending, improved project quality and a greater contribution from portfolio management.

ERG did well, closing in the green by 0.5 percent. The company reported Wednesday that reported group net income was EUR179 million compared with 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 red by 0.2 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 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.

On the cadet segment, MARR closed on top with a rise of 3.9 percent. On Wednesday, the BoD approved the 2023 financial statements, recording a consolidated net profit of EUR47.1 million compared with EUR26.6 million in 2022, which "was affected by higher net financial charges of EUR9.7 million as a result of the increase in the cost of money from the second half of 2022," the company wrote in the note.

Zignago Vetro -- up 2.0 percent -- reported Thursday that it ended 2023 with a group net profit of EUR122.4 million from EUR86.6 million as of Dec. 31, 2022, up 41 percent.

The company proposed a dividend of EUR0.75 per share, up 25 percent from the dividend paid in 2022 of EUR0.60 per share.

Cembre -- in the red by 4.1 percent -- reported Thursday that it ended 2023 with a profit of EUR40.8 million, up 28 percent from EUR31.9 million in 2022.

The board of directors proposed a dividend of EUR1.80 per share, up from EUR1.40 a year earlier.

SAES Getters -- up 0.6 percent -- reported Thursday that it ended 2023 with a consolidated profit of EUR632.3 million from EUR12.3 million in 2022 thanks to the divestment of the Nitinol business.

The company said it had proposed a dividend of EUR12.51 per share from EUR0.55 in 2022.

On the Small-Cap, TXT e-solutions -- flat at EUR21.00 -- on Thursday approved its 2023 financial report, which closed with revenues of EUR224.4 million, up 48 percent from the previous year.

Profit was EUR15.5 million, up 29 percent on 2023, with the board proposing the distribution of a dividend of EUR0.25 per share, up from EUR0.18 detached the previous year.

The board of Biesse -- in the red by 0.4 percent -- on Thursday reviewed its annual financial report for 2023, in which it reported consolidated net revenues of EUR785.0 million, down 4.6 percent from 2022. Net income was EUR12.5 million compared to EUR30.3 million in the previous year.

The board of Enervit -- up 1.3 percent -- on Thursday approved the draft consolidated financial statements as of December 31, 2023, which closed with revenues of EUR85.4 million compared to EUR76.3 million in 2022. The company closed with a net profit of EUR4.2 million, unchanged on 2022.

Equita Group also rose 0.5 percent after the accounts. The group closed 2023 adjusted profit of EUR16.9 million from EUR16.2 million in 2022 and consolidated profit of EUR16.1 million from EUR15.2 million in the previous year. The BoD resolved to propose to the next shareholders' meeting the distribution of a dividend of EUR0.35 per share, in line with what was distributed for fiscal year 2022.

Civitanavi Systems gave up 1.3 percent after announcing Thursday that it ended 2023 with an adjusted net profit of EUR8.0 million from EUR7.9 million as of Dec. 31, 2022, up 1.9 percent.

The company proposed to pay a dividend of EUR0.13 per share, in line with the 2022 dividend.

Among SMEs, Culti Milano closed in the green by 2.4 percent after announcing Thursday that it closed 2023 with a net profit of EUR1.0 million compared to EUR2.3 million in the same period the previous year.

Matica Fintec climbed 0.7 percent after announcing that it has successfully completed the installation and testing of the Venezuela Patente Project for the supply of laser systems, spare parts and installation services, with a total value of about USD900,000 under an agreement with the Venezuelan government. As per agreements with the Venezuelan government, a new order of about USD800,000 for 4 more S7000 systems is expected to arrive in the second half of 2024.

In New York, the Dow gives up 0.2%, the Nasdaq is down 0.3% as is the S&P 500.

Among currencies, the euro changes hands at USD1.0892 against USD1.9043 recorded at Wednesday's European stock close, while the pound is worth USD1.2756 from USD1.2794 on Wednesday evening.

Brent crude is worth USD85.17 per barrel versus USD83.69 per barrel at Wednesday's close. Gold, meanwhile, trades at USD2,159.41 an ounce from USD2,177.75 an ounce on Wednesday evening.

On Friday's macroeconomic calendar, at 0230 CET, housing prices from China are due. At 0845 CET, from France will come the consumer price index, and at 1000 CET the same figure from Italy is expected, along with the trade balance.

At 1100 CET, also from Italy, will come out retail sales and, from China, the money supply.

In the afternoon, from Canada new residential construction sites are expected at 1315 CET and at 1330 CET, from the US, the import price index followed at 1415 CET by US industrial production.

In Piazza Affari, companies' announcements of corporate results continue. Among others, those of Bioera, DiaSorin and Eukedos are scheduled.

By Chiara Bruschi, Alliance News reporter

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