(Alliance News) - European stock markets on Thursday opened sharply higher, following similar trends on a global scale, thanks to chip giant Nvidia's positive earnings release that boosted investor confidence.

Internal fiscal year turnover, meanwhile, came in at USD60.9 billion, up 126 percent from the previous year and beating expectations.

Trading rooms appear to be ignoring the latest Federal Reserve minutes, which indicated that the central bank would like to delay cutting interest rates. In Europe, investors will be evaluating preliminary Eurozone manufacturing and services activity data in February to gauge the health of the economy.

The FTSE Mib is trading up 1.1 percent at 32,375.40 points.

In Europe, London's FTSE 100 is advancing 0.2 percent, Paris's CAC 40 is in the green by 1.1 percent, and Frankfurt's DAX 40 is marking a green by 1.4 percent.

The Mid-Cap is rising 0.7 percent to 45,881.94, the Small-Cap is up 0.8 percent to 27,751.61, and Italy Growth is in the green 0.2 percent to 8,144.24.

On the Mib, STMicrolectronics advances 4.2% with new price at EUR4.2%, after last night's slight gain of plus 0.1%.

Queen of the list is Tenaris, which advances 7.0%, after having released record 2023 accounts thanks to growth in revenues, EBITDA, and net income. During the year, revenues reached USD14.9 billion, up 26 percent from 2022. Net income approached USD4 billion, up 55% from the previous year.

Eni -- up 0.6 percent -- announced Wednesday that it bought back about 2.1 million shares between Feb. 12 and Feb. 16. The shares were taken over at a weighted average price of EUR14.4388 per share, for a total value of nearly EUR30.0 million.

Enel - up 0.4 percent - announced Tuesday that it had successfully launched on the European market the issuance of a non-convertible, subordinated hybrid perpetual bond with a euro denomination, aimed at institutional investors, for a total amount of EUR900 million.

Among the few bearish performers was Hera, which posted minus 0.4 percent, reversing course after three bullish sessions.

On the MidCap, good start for Acea, which moves ahead 0.3 percent, bringing its price to EUR13.85 per share.

EDGE, one of the world's leading advanced technology and defense groups, and Fincantieri Spa announced Wednesday that they have signed a term sheet for the creation of a joint venture to seize opportunities in global shipbuilding, with a focus on the production of a wide range of naval vessels and a UAE-based production chain worth an estimated EUR30 billion. EDGE will hold a 51 percent stake in the joint venture while Fincantieri will be in charge of management. Fincantieti shares are advancing 0.8 percent.

Maire Tecnimont--in the red by 0.5 percent--reported Wednesday that NextChem, through its subsidiary NextChem Tech, has signed a binding agreement to acquire 80 percent of HyDEP Srl and 100 percent of Dragoni Group Srl. The purchase price for the two shares is approximately EUR3.6 million.

Red also for Lottomatica, which marks minus 0.5 percent with price at EUR11.54 per share after four bullish sessions.

On the SmallCap, boost on Beewize, which moves ahead 7.4 percent to EUR0.87, updating its 52-week high.

The board of directors of Autostrade Meridionali -- in the green by 7.0% -- on Wednesday reviewed the company's accounts for fiscal year 2023, with total revenues coming in at EUR6.7 million from EUR33.9 million in 2022. Profit was EUR1.5 million from EUR15.8 million in the previous year.

The company points out that the figures "are not comparable with the corresponding results as of December 31, 2022 in view of the fact that in the first quarter of 2022 Autostrade Meridionali was still managing the A3 Naples-Pompei- Salerno, a concession in which the new concessionaire took over as of April 1, 2022."

Tessellis - up 0.5 percent - announced that together with Istella Spa it had signed a binding letter of intent for the realization of an overall investment transaction by Tessellis, or another company in the same group, in Istella. Renato Soru has resigned, for personal reasons, his irrevocable and unconditional resignation as director and chairman of the board of directors of Tessellis.

Among SMBs, boost on iVision Tech, which moves ahead 8.0 percent after eve's 3.4 percent red.

expert.ai, meanwhile, advances 4.8%, to its new 52-week high of EUR1.27.

Vimi Fasteners -- down 0.6 percent -- reported Wednesday that it reported revenues of EUR61.3 million in 2023, up 15 percent from EUR53.3 million as of Dec. 31, 2022. The Vimi group's order backlog as of Dec. 31 also increased, covering the full year 2024 and amounting to EUR39.2 million, up from EUR37.7 million in backlog at the end of 2022.

In New York on European night, the Dow rallied 0.1 percent, the Nasdaq gave up 0.3 percent, and the S&P edged up 0.1 percent.

Among currencies, the euro changed hands at USD1.0848 against USD1.0809 recorded in Wednesday's European stock close, while the pound is worth USD1.2661 from USD1.2612 on Wednesday night.

Brent crude is worth USD83.40 per barrel versus USD82.57 per barrel at Wednesday's close. Gold, meanwhile, trades at USD2,030.34 an ounce from USD2,028.77 an ounce on Wednesday evening.

Thursday's macroeconomic calendar features Italian inflation at 1000 CET.

Consumer prices will also be released for the Eurozone, at 1100 CET, two and a half hours before the release of the minutes of the latest European Central Bank meeting.

Overseas, room for jobless claims, at 1430 CET, and PMIs, due at 1545 CET, before home sales data, due out at 1600 CET.

Crude oil stocks data will be released at 1700 CET while closing the day will be the Federal Reserve's balance sheet, due at 2230 CET.

Among the companies in the Piazza Affari, doValue, Matica Fintec, Recordati, Talea Group and TXT e-solutions will release results.

By Maurizio Carta, Alliance News reporter

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