(Alliance News) - European markets on Thursday are positioned for an upward opening, following the positive trend seen last night on Wall Street, as good corporate results and expectations on interest rate cuts by central banks continue to support investor confidence.

As a result, the FTSE Mib is marking a rise of 82.50 points, after closing down 0.5 percent at 30,976.02 on the eve.

In Europe, London's FTSE 100 is advancing 9.60 points, Paris' CAC 40 is stepping up 14.00 points, and Frankfurt's DAX 40 is advancing 47.30 points.

Among the smaller lists last night, the Mid-Cap lost 0.1 percent to 45,361.79, the Small-Cap gave up 0.7 percent to 27,381.11, and Italy Growth fell 0.9 percent to 8,135.93.

On the main list in Piazza Affari on Wednesday, the strength seen since the bell rang was confirmed by Banca Monte dei Paschi stock, which closed up 5.5 percent with new price at EUR3.56 per share. The Siena-based bank on Wednesday signaled that it returned to profit in 2023, with results showing a net profit of EUR2.05 billion as of Dec. 31 from a loss of EUR178.4 million in the same period a year earlier.

After the one to profit, the company also announced a return to the dividend, two years ahead of the plan target and forecasting a dividend of EUR0.25 per share for a total of EUR315 million.

Boost also on Stellantis, which ticked up 1.1 percent, on the heels of the eve's profit closed up 1.8 percent.

Ferrari rose 1.2% while on the other side was Saipem, in the red by 3.2%. Worth mentioning that on the stock AHL Partners raised its short position to 0.61% from 0.50%.

Profit-taking on Intesa Sanpaolo, down 2.1% after two sessions closed higher and in the aftermath of the presentation of good accounts, closed with net income up 76% to EUR7.72 billion from around EUR4.4 billion in 2022.

On the mid-cap, of note is the good trend undertaken early in the session by OVS, up 0.5 percent at the close. The company announced Tuesday that it had signed a letter of intent with Goldenpoint shareholders with the aim of developing a possible industrial partnership. Goldenpoint counts on a sales network of about 380 stores located in prestigious locations in major historical centers and shopping malls in Italy and a turnover of nearly EUR100 million.

Juventus FC also rises, up 2.0%, in its seventh session in a row closed with an uptrend.

Banca Popolare di Sondrio gained 2.3% after reporting a net profit of EUR461.2 million in 2023, up 84% from EUR251.3 million a year earlier. In addition, a dividend of EUR0.56 was proposed, up from EUR0.28 paid last year, with payout revised upward to 55 percent from the 50 percent under the plan.

Among smallcaps, Orsero plummeted 15% after announcing targets for 2024. Net revenues are between EUR1.53 billion and EUR1.59 billion, adjusted Ebitda is between EUR77 million and EUR84 million, adjusted net income is between EUR28 million and EUR32 million, and Net financial position is between EUR110 million and EUR105 million.

In 2024, the company plans investments in operating fixed assets between EUR21 million and EUR23 million, including those related to the multi-year sustainability plan.

algoWatt gave up 3.1 percent to EUR0.2635, in its third bearish session. The company announced that Laura Neri, a board member, is the new sole director of subsidiary TerniEnergia Progetti, active as a system integrator and EPC provider in the photovoltaic sector. Neri succeeds Fabrizio Venturi.

Among SMEs, Eprcomunicazione slumped 12 percent to EUR2.14 per share, the subject of profit taking after four sessions closed among the bullish.

Same percentage but bullish for Estrima, rising to EUR0.74 per share, with 88,800 changed hands during the day.

In the green, Franchetti gained 3.9 percent to EUR5.38 per share, with the stock touching a new 52-week high at EUR5.66 per share during the session.

In New York last night, the Dow rallied 0.4 percent, the Nasdaq closed up 1.0 percent, and the S&P 500 closed bullish by 0.8 percent.

Among the Asian exchanges, the Nikkei rallied 2.1 percent, the Shanghai Composite posted a green of 1.3 percent, while the Hang Seng is giving up 1.2 percent.

Among currencies, the euro changes hands at USD1.0782 against USD1.0764 recorded in Wednesday's European stock close while the pound is worth USD.2628 from USD1.2631 last night.

Brent crude is worth USD79.60 per barrel versus USD78.89 per barrel at Wednesday's close. Gold, meanwhile, trades at USD2,033.16 an ounce from USD2,039.06 an ounce on Wednesday evening.

On Thursday's economic calendar, from the U.S., eyes will be on jobless claims, due at 1430 CET, and the Federal Reserve's balance sheet, due out at 2230 CET.

Throughout the day, several central bank members will speak: Dhingra from the Bank of England, Elderson and Lane from the ECB, and Barkin from the Fed.

Among the companies in Piazza Affari, the results of Banca Generali, Mediolanum, BPM, Credem, Mediobanca and other smaller-capitalization listed companies are expected.

By Maurizio Carta, Alliance News reporter

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