(Alliance News) - On Thursday's close, major European stock markets reversed course and finished in positive territory after the release of important macroeconomic data and while in Milan the air began to get electric on a day that saw the release of the operating results of some of the most important listed companies.

"Eurozone inflation data triggered another round of rising Treasury yields, with the expectation of a long-term rate hike bringing downward pressure for equities. However, the decline in the latest initial claims for U.S. unemployment benefits confirms the theme of labor market strength," commented Joshua Mahony, senior market analyst at IG.

"The latest Eurozone inflation report was a worrisome reading, as core inflation rose to a record high of 5.6 percent in February. Following the rise in French and Spanish inflation earlier in the week, today's Eurozone figure gave markets reason to fear an end to the recent disinflation that has helped lift equity markets. Interestingly, European markets held up relatively well in the face of today's data, although the risk to bulls is greater if we see a prolonged period of falling or rising inflation data."

Thus, the FTSE Mib closes up 0.3 percent to 27,397.60, the Mid-Cap up 0.1 percent to 44,726.18, the Small-Cap gains 0.1 percent to 30,392.59, as does Italy Growth at 9,402.77.

In Europe, London's FTSE 100 rises 0.4 percent, Paris' CAC 40 gains 0.7 percent and Frankfurt's DAX 40 is up 0.2 percent.

On the main list, Amplifon -- up 4.1 percent -- on Wednesday approved its draft operating budget as of December 31, 2022 reporting record revenues at EUR2.12billion up 8.8 percent at current exchange rates and 6.8 percent at constant exchange rates from EUR1.95billion in 2021. Net income on a recurring basis is EUR183.3 million, up 4.6 percent from EUR175.2 million recorded in 2021. The board also proposed a dividend of EUR0.29 per share, up nearly 12 percent from EUR0.26 per share in 2021, with a pay-out of more than 36 percent of consolidated net income per share.

CNH Industrial - in the green by 0.3 percent - announced Wednesday that it bought back 622,807 of its own shares between Feb. 20 and Feb. 24, 2023. The shares were taken over at an average price of about EUR15.46 for a total of EUR9.6 million.

Moncler rises 1.1% to EUR59.00. On the stock it is mentioned that Deutsche Bank raised its target price to EUR69.00 from EUR63.00.

On the cadet segment, Brembo closes 2.6 percent in the red after announcing Thursday that it reported record sales in the year ended Dec. 31, 2022, at EUR3.62 billion from EUR2.77 billion, marking a 31 percent increase over the same period last year.

Net income amounted to EUR292.8 million from EUR215.5 million, up 36 percent from December 31, 2021.

The company has proposed a gross ordinary dividend of EUR0.28 for each of the ordinary shares outstanding on the ex-dividend date from a dividend of EUR0.27 a year earlier.

Piaggio & C. closes flat after reporting Thursday that it ended 2022 with net income up 41 percent to EUR84.9 million from EUR60.1 million a year earlier.

Revenues grew 25 percent, to EUR2.09 billion from EUR1.67 billion, with 625,000 vehicles sold during the year, up 17 percent from 536,000 registered in 2021.

The board of Maire Tecnimont -- up 1.7 percent -- on Wednesday evening reviewed and approved the group's draft budget for 2022, which with a consolidated net profit of EUR90.4 million, up more than 12 percent from the previous year. The board approved the proposal regarding the allocation of the profit for the year and dividend distribution totaling EUR40.7 million, with a unit dividend of EUR0.124. Maire Tecnimont Group revenues amounted to EUR3.46 billion, up 21 percent on the previous year.

Carel Industries gives up 0.6 percent, after reporting Thursday that it ended 2022 with net income up 27 percent year-on-year to EUR62.1 million to EUR49.1 million a year earlier.

Consolidated revenues amounted to EUR544.9 million compared to EUR420.4 million as of Dec. 31, 2021, up 30 percent. Excluding the scope change related to the consolidation of acquisitions made in the past 18 months of EUR37.1 million and the positive foreign exchange effect of EUR12.9 million, the increase would have been 18 percent.

On the Small-Cap, Gefran gives up 2.4 percent after announcing Thursday that it has completed the sale of the Drives business to the Brazilian group WEG.

Gefran India Private, an Indian subsidiary of the Gefran Group, has signed an agreement with WEG Industries India Private, an Indian subsidiary of the WEG Group, for the sale of the related business unit for EUR675,000 out of a combined total of EUR23 million in the agreement to sell the Drives business. The effective date of the agreement is i March 1, 2023 and is the last step in the transaction.

DeA Capital -- in the green by 1.7 percent -- reported Tuesday that Nova had risen to nearly 98 percent of the company's capital at the close of the tender offer period launched by Nova.

Nova will now pay EUR1.50 per share, for a total consideration of EUR113.6 million.

Among SMEs, EdiliziAcrobatica--up 2.2 percent--reported Thursday that it has signed a binding contract to acquire a 51 percent stake in Enigma Capital Investments, a Dubai-based holding company under Emirates law that heads a group active in the Middle East in construction, "rope access," residential and commercial building cleaning services, and facility management services.

The agreement stipulates that, upon closing of the acquisition, EDAC will acquire 51 percent of Enigma Capital's shareholdings, which will be sold by the current shareholders, individuals residing in the United Arab Emirates, who hold a majority stake in Enigma Capital, against payment on the closing date of a provisional price of AED28.3 million, or approximately EUR7.2 million.

Medica -- flat at EUR24.20 -- on Wednesday evening announced that its subsidiary Medica USA Inc has signed a definitive agreement with Evoqua Water Technologies, a company active in mission-critical water treatment solutions, to buy assets to produce blood filters and water filters. Evoqua will retain distribution rights to the water filtration product line.

In New York at the height of trading on Thursday, the Dow is up 0.4 percent, the Nasdaq gives up 0.5 percent while the S&P 500 is in the red by 0.2 percent.

Among currencies, the euro changes hands at USD1.0605 versus USD1.0677 at Wednesday's close. In contrast, the pound is worth USD1.1952 from USD1.2022 on Wednesday evening.

Among commodities, Brent crude is worth USD84.75 per barrel versus USD83.15 per barrel on Wednesday evening. Gold, on the other hand, trades at USD1,843.95 an ounce from USD1,837.35 an ounce at Wednesday's close.

Friday's macroeconomic calendar opens in Japan at 0030 CET with data on the unemployment rate and inflation. At 0130 CET it is the turn of the services PMI index.

In China the same data is released at 0245 CET.

In Germany at 0800 CET comes data on the seasonally adjusted current account, the trade balance and the purchasing managers' index for the import sector.

At 0845 CET, French industrial production is published.

Between 0915 CET and 1030 CET, the Composite and Services PMI for Italy, Eurozone, Spain, Germany, France and the United Kingdom are published.

Also in the Eurozone, at 1100 CET comes the Producer Price Index.

In the afternoon, overseas, at 1545 CET comes the Composite PMI index for the United States and the ISM index for February.

Among the companies listed in Piazza Affari, Innovatec's results are expected.

By Claudia Cavaliere, Alliance News reporter

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