(Alliance News) - On Thursday, European marketplaces move cautiously -- with Milan bearish -- as trading floors shine the spotlight on numerous quarterly reports and the Bank of England's decision on interest rates, with traders looking for dovish signals from Threadneedle Street due to the recent slowdown in UK inflation.

The Bank of England is likely to keep the benchmark rate at 5.25 percent, remaining at levels not seen since 2008. However, investors expect greater clarity on when interest rates might be lowered, with expectations currently leaning toward June or, more likely, August.

Attention will focus on closely monitoring the vote, currently seen on 8-1, and the release of new economic projections, with the central bank expected to update its growth projections.

In March, U.K. inflation fell to 3.2 percent, significantly lower than the 10.1 percent recorded in March 2023, although it exceeded the central bank's projections. However, Governor Bailey recently stated that he sees strong evidence that inflation is slowing as a result of tighter financial conditions.

Thus, the FTSE Mib, moves down 0.2 percent to 34,085.40.

In Europe, Paris's CAC 40 gives up 0.2 percent, London's FTSE 100 rises just above par, and Frankfurt's DAX 40 is green by 0.3 percent.

Among the smaller listings, the Mid-Cap gives up 0.1% to 48,016.72, the Small-Cap is below par at 29,399.73, while Italy Growth advances 0.1% to 8,221.64.

On the Mib, strength on Nexi after the accounts, with the stock advancing 5.8 percent to EUR6.03 per share. The company reported Thursday that it closed the first quarter with revenues up 6.0% to EUR781.6 million from EUR737.6 million reported as of March 31, 2023.

Ebitda was EUR361.7 million, up 8.6 percent from EUR333.1 million in the first three months of 2023. Ebitda margin reached 46 percent, up 112 basis points from the first quarter a year earlier, "partly due to the faster realization of efficiencies and cost synergies in light of the group integration," the note said.

Prysmian -- bullish with 0.8 percent -- reported Thursday that it ended the first quarter with a group net profit of EUR185 million from EUR182 million in the same period a year earlier. Revenues amounted to EUR3.69 billion from EUR3.99 billion in the first quarter of 2023.

Tenaris, on the other hand, marks a plus 1.4 percent, after two sessions ended among the bearish.

Sales in the banking sector, with BPER Banca marking minus 4.6 percent, on the heels of the eve's red closed with minus 0.6 percent.

Banca Popolare di Sondrio, on the other hand, is retreating 2.1 percent, on the heels of the previous session's 1.5 percent red.

On the cadet segment, boost on Industrie de Nora, which moves ahead 7.0% after Wednesday's 6.5% contraction at close.

Also ahead is Mutuionline, which is advamti 1.5% with new price at EUR1.50 per share and is up 34% over the past six months.

Strength also on Ariston Holding, which scores a plus 1.9 percent. The company reported Tuesday that it ended the first quarter with revenues of EUR653.2 million, down 14 percent from EUR759.7 million in the same period a year earlier.

Ascopiave, on the other hand, is stepping back 1.1 percent to EUR2.21, after con ts presented earlier in the day that saw an increase in profit.

Fincantieri, on the other hand, gives up 7.0%, following the eve's decline that closed with minus 0.3%.

On the SmallCap, Olidata is moving ahead 3.6%, tacking upward after two sessions closed among the bearish.

SIT is advancing 2.2 percent to EUR2.39 per share, tacking down after two sessions in the negative balance.

Pinifarina, on the other hand, is advancing 3.1 percent. The stock-which has been missing the ex-dividend since 2005-comes from a 1.5 percent drop.

Gas Plus marks a minus 3.2%, veering downward after two sessions among the bearish.

Safilo, meanwhile, is giving up 3.5 percent to EUR1.31, in position for its fourth bearish daily candle.

Among SMEs, Alfio Bardolla is giving up 5.4 percent, following up on the 3.4 percent negative balance it closed with on the eve of the session.

Askoll Eva gives up 3.7 percent to EUR0.3150 per share, following a 2.8 percent gain on eve.

Eprcomunication, on the other hand, advances 9.3%, pointing to its fifth bullish session.

Good buying also on Ecosuntek, which moves ahead 5.0% after 0.6% green on eve.

In New York on European night, the Dow rallied 0.4 percent, the Nasdaq gave up 0.2 percent, and the S&P 500 closed just below the parity line.

Among currencies, the euro changed hands at USD1.0730 from USD1.0748 in Wednesday's European stock close while the pound was worth USD1.2484 from USD1.2495 on Wednesday night.

Among commodities, Brent crude is trading at USD84.03 per barrel from USD83.31 per barrel on Wednesday. Gold, on the other hand, trades at USD2,307.10 an ounce from USD2,317.24 an ounce on Wednesday evening.

On Thursday's economic calendar, the Bank of England's decision on interest rates is due at 1300 CEST. At 1430 CEST will come, from the US, unemployment claims.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.