(Alliance News) - On the last trading day of the year, Piazza Affari moved higher, with the bluechip index well above 30,400, fueled by optimism about more accommodative monetary policy from major central banks starting in the early part of 2024.

The Fed's accommodative stance at its December meeting-in which it signaled multiple rate cuts in 2024-has reinforced these views.

Markets reflect a roughly 80 percent probability of a Fed funds rate cut starting in March 2024, with a forecast of cuts of more than 150 basis points over the next year. The European Central Bank is also expected to reduce funding costs in the coming year, albeit at a slower pace than the Federal Reserve, despite efforts by ECB policymakers to adopt a more aggressive stance.

On the bond front, the spread is moving roughly stable in the 164 basis point area. The 10-year BTP marks a yield in the 3.61 percent area, with the price fluctuating in a range between 105 and 106 in the bond that reports a coupon rate of 4.20 percent in the March 2034 maturity. The daily high is 3.63 percent while the low is 3.46 percent.

The FTSE Mib thus marks an asset of 0.3 percent at 30,430.53, with the asset for 2023 around 28 percent.

In Europe, London's FTSE 100 is trading above 0.2 percent, Paris' CAC 40 is advancing 0.3 percent, and Frankfurt's DAX 40 is advancing 0.3 percent.

Among the smaller listings, the Mid-Cap is advancing with 0.3 percent to 44,729.76, the Small-Cap is up 0.3 percent to 28,398.27, and Italy Growth is advancing 0.5 percent to 8,289.54.

On the Mib, good buying on the banking segment, with FinecoBank posting a plus 0.9% after the previous session's 0.4% red.

UniCredit, following, is advancing 0.8 percent, after the 0.3 percent loss on the eve of the session that broke three sessions in surplus.

Moncler is advancing 0.8%, after three bearish sessions.

ERG equally marks plus 0.8%, with new price at EUR228.96 per share. The company on Thursday reported that through its subsidiary ERG Eolienne France SAS, it has signed an agreement with QEnergy France SAS, a leading renewable energy operator in France, to acquire 100% of CEPE Renouvellement Haut Cabardès SAS, a company that owns a 73.2 MW wind and solar portfolio in France.

On a negative note, Banca Monte dei Paschi, meanwhile, gives up 0.5 percent with new price at EUR3.07 per share.

Telecom Italia, which gives up 2.0% after 0.4% in the previous session, closes the list.

On the Mid-Cap, Acea advances 1.7% to EUR13.80 per share, pointing to its third bullish session.

Tinexta moves ahead 1.9% to EUR20.48 per share, after three sessions closed among the bearish.

De' Longhi, on the other hand, advances 1.2 percent to EUR30.90, after 0.5 percent green on the eve.

On a negative note, d'Amico is giving up 1.5 percent to EUR5.66 per share, pointing its snout toward its third bearish session.

On the Small-Cap, Mondo TV brings the bar forward 8.2 percent after closing in double digits bullish on eve.

High quarters also for Fiera Milano, bullish with 6.5 percent in position for the fourth in a row on the bullish side.

Greenthesis, on the other hand, marks a green of 1.7 percent, on the heels of eve's gain, albeit with 0.2 percent.

For Digital Bros, also among the best performers, assets are instead 2.0 percent, following the 1.4 percent red of the previous session.

Among SMEs, on the other hand, Doxee pushes ahead 11 percent, with new price at EUR3.42 per share following 8.5 percent assets in the previous session.

Fae Technology, on the other hand, marks a plus 5.8 percent, positioning itself toward the fourth session to close on the bullish side.

On a negative note, High Quality Food marks a minus 5.8 percent, following a double-digit rise in the previous session.

H-Farm is giving up 3.6 percent, heading for its fifth session to close among the bearish.

In New York on European night, the Dow closed up 0.1 percent, the Nasdaq closed just below par, and the S&P 500 closed just above par.

Among Asian exchanges, however, the Shanghai Composite marked a 0.8 percent increase, the Hang Seng marked a fractional rise, while the Nikkei gave up 0.2 percent.

Among currencies, the euro changes hands at USD1.1061 against USD1.1090 recorded at Thursday's European stock close while the pound is worth USD1.2741 from USD1.2759 on Thursday evening.

Brent crude is worth USD77.51 per barrel versus USD78.98 per barrel at Thursday's close. Gold, meanwhile, trades at USD2,070.57 an ounce from USD2,085.15 an ounce on Thursday evening.

By Maurizio Carta, Alliance News reporter

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