(Alliance News) - The Mib index finished down in the 26,600 area on Thursday as investors weighed the latest policy decisions by the ECB and Federal Reserve.

Following the Fed, the Eurotower also raised benchmark interest rates by 25 basis points, signaling a slowdown in policy tightening, with the cost of money at its highest level since July 2008 after seven consecutive rate hikes.

The central bank also announced plans to stop reinvesting liquidity from maturing bonds purchased under the EUR3.2 trillion JPA starting in July. The latest economic data revealed that the inflation rate in the euro area rose to 7 percent in April, with the core rate remaining close to the all-time high in March at 5.6 percent.

Thus, the FTSE Mib closed down 0.6 percent at 26,670.29.

Among Italy's smaller listings, the Mid-Cap gives up 0.6 percent to 42,766.45, the Small-Cap gives up 1.1 percent to 28,431.66, and Italy Growth is down 0.2 percent to 9,138.31.

In Europe, the CAC 40 in Paris closed 0.9 percent in the red, the FTSE 100 retreated 1.1 percent, and Frankfurt's DAX 40 left 0.5 percent on the sidelines.

On the main list of Piazza Affari, Ferrari rose 4.7 percent to EUR265.00. The prancing horse company said it reported net revenues of EUR1.42 billion in the first quarter of the year, up 20 percent from EUR1.18 billion recorded as of March 31, 2022. Net income stood at EUR297 million from EUR239 million in the same quarter of 2022, up 24 percent.

DiaSorin, on the other hand, appreciated 1.9 percent to EUR99.78, on the heels of eve's green, which closed up a timid 0.3 percent.

Assicurazioni Generali retreated 0.8% after reporting Thursday that it had reached an agreement with Frankfurter Leben to sell Generali Deutschland Pensionskasse AG, known by its acronym GDPK.

Poste Italiane gave up 1.1% despite its quarterly results to March 31, 2023, which were in line with guidance for the year. Profit was EUR540 million from EUR494 million in the same period a year earlier, up 9.4% Revenues were EUR3.0 billion from EUR2.8 billion, up 8.1%.

Leonardo's board of directors-which fared worse and lost 5.8 percent-on Wednesday reviewed and approved results for the first quarter, which closed with a net profit of EUR54 million from EUR56 in the comparable period. Revenues were EUR3.03 billion and were in line with the first quarter of 2022 in all business sectors, "with an increase in Defense and Security Electronics and a slight increase in Aerostructures," the company's note specifies.

On the Mid-Cap, Maire Tecnimont trades down 5.2 percent after approving on Wednesday its interim report for the year ended March 31 with a consolidated net profit of EUR26.2 million, up 47 percent. Group net income amounted to EUR25.2 million, up 37 percent from the first quarter of 2022.

Tod's, on the other hand, gave up 1.9 percent to EUR38.00 per share, after four sessions ended on the bullish side.

Anima Holding, on the other hand, gave up 0.7 percent after announcing Thursday that the group's net inflows of assets under management in April were positive EUR86 million. In contrast, net inflows for the first four months were negative EUR482 million. At the end of April, the group's total assets under management stood at more than EUR182 billion.

On Wednesday, the board of directors of Acea -- in the red by 0.9 percent -- confirmed Fabrizio Palermo as the company's CEO and general manager, who was given powers for the day-to-day management of the company and the group.

On the Small-Cap, at the bottom is Giglio Group, which surrenders 22 percent after letting it be known that the auditing firm BDO Italia has advised that it is unable to express an opinion on the financial statements as of December 31, 2023. "We do not express an opinion on the company's financial statements. We were unable to acquire sufficient and appropriate evidence on the assessment of material items in the financial statements, including for the purpose of assessing the appropriateness of the use of the going concern basis of accounting, in the preparation of the financial statements as of December 31, 2022," the auditing firm announced.

Giglio Group's board of directors "takes note of the conclusions reached" by BDO Italia "in the knowledge that it has acted correctly in the interest of the company and reserves further comments following a more in-depth examination of the reports."

Pierrel, on the other hand, lost more than 12 percent. The company announced Wednesday that it has signed agreements with 3M Company, a U.S.-based company whose shares are listed on the New York Stock Exchange, to acquire certain dental products for local anesthesia.

Positive note for Restart, which advances with 1.6 percent positioning itself for the third session in a row on the bullish side.

Good buys also on Aeffe, pushing the stock ahead 3.4 percent, after a 1.1 percent gain on the eve of the session.

Finally, among SMEs, expert.ai rallied 7.0% to EUR0.7170, rearing its head again after three bearish sessions.

Casasold, on the other hand, rose 5.1%, after two sessions ended among the bearish.

On the negative side, however, GO internet gave up 8.8% to EUR0.12 per share.

EdiliziAcrobatica gives up 4.0 percent after reporting Thursday that revenues in the first quarter of the year were EUR36.8 million, up nearly 11 percent from the first quarter 2022 figure of EUR33.3 million.

Fenix Entertainment, on the other hand, gave up 7.9 percent. On Friday it reported first-quarter 2023 production value at EUR7.5 million from EUR4.6 million in first-quarter 2022.

In New York, the Dow Jones is giving up 1.1 percent, the Nasdaq gives up 0.3 percent, and the S&P 500 is in the red by 0.7 percent.

Among currencies, the euro changes hands at USD1.1005 versus USD1.1053 at Wednesday's close. In contrast, the pound is worth USD1.2572 from USD1.2549 on Wednesday evening.

Among commodities, Brent crude is worth USD72.39 per barrel versus USD71.91 per barrel on Wednesday evening. Gold, on the other hand, trades at USD2,049.67 an ounce from USD2,023.71 an ounce at Wednesday's close.

On Friday's macroeconomic calendar, at 0800 CEST the German factory orders figure is expected, while at 0930 CEST from Italy it will be the turn of the construction PMI, along with that of the Eurozone.

At 1000 CEST come Italian retail sales, followed at 1100 by Eurozone retail sales.

At 1430 CEST are nonfarm payrolls and the U.S. unemployment rate. At 1900 CEST, it's the turn of Baker Hughes plant data, and at 2230 CEST, as usual, the COT Report.

Among companies, results from Almawave, Anima Holding, CNH Industrial, Esautomotion, Intesa Sanpaolo, Piaggio and Terna are expected.

By Maurizio Carta, Alliance News reporter

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