(Alliance News) - European stock markets -- according to the futures market -- are expected to open higher on Thursday, partly, though not entirely, reversing Wednesday's brutal sell-off. The banking sector remains the focus of market attention, with investor confidence in the sector resting on precarious foundations. Also expected amid the mini-crisis so far is the European Central Bank's interest rate decision around noon.

Credit Suisse, which kicked off the sell-off on Wednesday, announced Thursday that it would borrow nearly USD54 billion from the SNB -- the Swiss central bank -- to strengthen the group after the stock slump.

The revelation came just hours after the Swiss National Bank said capital and liquidity levels at the bank were adequate for a "systemically important bank," and that it pledged to make liquidity available if needed.

In a statement, Credit Suisse said the central bank's loan of up to CHF50 billion would "support ... core businesses and clients," adding that it is also making buyback offers on about USD3.00 billion of debt.

The FTSE Mib, after having closed 4.6 percent in the red last night, marks a rise of 367.00 points.

Among the smaller listings on Wednesday evening, the Mid-Cap closed down 3.4 percent to 41,631.82, the Small-Cap gave up 3.2 percent to 29,363.65, and Italy Growth gave up 1.8 percent to 9,218.58.

Paris' CAC 40 is advancing 85.00 points, London's FTSE 100 is up 54.00 points, and Frankfurt's DAX 40 is advancing 161.50 points.

On the main list of Piazza Affari last night, with the color red serving as the common denominator, Saipem slipped 8.5 percent. On the stock it is reported that Voleon Capital Management raised its short position on the stock to 0.84 percent from 0.7 percent.

The entire banking sector suffered, with UniCredit giving up 9.1 percent, Intesa Sanpaolo 6.9 percent and Banco BPM with 7.1 percent.

Telecom Italia's board of directors -- in the red by 3.4 percent -- announced Wednesday that the board had met to examine the non-binding offer submitted by the consortium formed by CdP Equity and Macquarie Infrastructure and Real Assets, acting on behalf of a group of investment funds managed or advised by the Macquarie group -- the consortium's NBO -- for the purchase of a constituent company that would essentially own the management and infrastructure perimeter of the fixed network, including FiberCop's assets and activities, as well as the stake in Sparkle.

Tenaris, on the other hand, gave up 9.0 percent, following a 1.4 percent loss on the eve of trading. The stock had previously come off four bearish sessions.

Among the bullish few, Campari stretched 0.5 percent to EUR10.72, echoing eve's green with 2.2 percent.

On the cadet segment, equally, the banking sector led the declines. Banca Monte dei Paschi gave up 10 percent with price at EUR1.92.

Credem, meanwhile, gave up 6.7 percent, while Banca Popolare di Sondrio left 6.4 percent on the parterre.

Among the positive notes, MARR took home at 6.9%. The company reported Tuesday that it reported an increase in net income in 2022, to EUR26.6 million from EUR35.1 million in the previous year.

On the Small-Cap segment, Biesse stepped back 9%, with price at EUR15.25 after last night's 4.7% gain. The board Tuesday approved the financial report for 2022, which ended with a net income of EUR30.3 million, compared to EUR34.2 million in 2021, representing a net income per share of EUR1.11. The board also proposed the payment of a gross dividend of EUR0.33 per share.

Aeffe--declining 6.8 percent--reported Wednesday that it closed 2022 with a loss of EUR9 million, which compares with a EUR12 million profit in 2021 that, however, included nonrecurring tax benefits of EUR9.5 million.

d'Amico, on the other hand, gave up 7.4 percent, after a 5.6 percent profit on the eve.

Among the positive notes, algoWatt took home 1.7 percent, rearing its head again after two bearish sessions.

Among SMEs, meanwhile, Copernicus rose 3.7 percent, bringing the price to EUR5.60 and echoing eve's 4.9 percent gain.

At the bottom, Comer Industries gave up 8.8 percent, with price at EUR31.00.

Directa SIM left 7.3 percent on the parterre, after eve's shy green with 0.2 percent.

Cover 50 - up 1.6% - reported Wednesday that 2022 revenues and Ebitda rose by double-digit percentages from the previous year's figures. Revenues rose 24 percent to EUR30.1 million from EUR24.3 million in 2021.

In New York on European night, the Dow closed 0.9 percent in the red, the Nasdaq up 0.1 percent, and the S&P 500 left 0.7 percent on the parterre.

Among Asian exchanges, the Hang Seng gave up 2.1 percent, the Shanghai Composite 1.1 percent, while the Nikkei left 0.8 percent on the platter.

Among currencies, the euro changed hands at USD1.0600 against USD1.0538 at yesterday's close. In contrast, the pound is worth USD1.2068 from USD1.2019 on Wednesday evening.

Among commodities, Brent crude is worth USD74.33 per barrel versus USD72.52 per barrel last night. Gold, on the other hand, trades at USD1,914.08 an ounce from USD1,935.88 an ounce at Wednesday's close.

On Thursday's economic calendar, the Italian inflation figure is expected in the morning at 1000 CET. At 1330 CET, initial claims for unemployment benefits arrive from the US.

At 1415 CET, it's time for the ECB rate decision, with the press conference at 1445 CET. At 1630 CET, comes the auction of 4- and 8-week Treasury bonds.

On Thursday's corporate calendar, results from Aquafil, Arnoldo Mondadori, A2A, Enel, Eni, Salcef, and Webuild are expected.

By Maurizio Carta, Alliance News reporter

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