(Alliance News) - The Mib closed bullish on Thursday, closing in the 34,800-point area, after the ECB decided to cut its three benchmark interest rates -- for the fourth time this year -- by 25 basis points, as expected. The move reflects a more favorable inflationary environment and improvements in the transmission of monetary policy.

Inflation is - according to Frankfurt - expected to decline gradually, with forecasts of 2.4 percent in 2024, 2.1 percent in 2025 and 1.9 percent in 2026. Core inflation, which excludes energy and food, is also expected to decline, with a target of 2 percent in the medium term.

As a result, the FTSE Mib closed up 0.4 percent to 34,857.37, the Mid-Cap closed down 0.3 percent to 48,480.87, the Small-Cap gave up 0.1 percent to 28,526.01, and Italy Growth closed up 0.5 percent to 7,867.79.

In Europe, London's FTSE 100 closed up 0.1 percent, Paris' CAC 40 finished in fractional red, and Frankfurt's DAX 40 picked up 0.1 percent.

In Milan, on the highest-capitalization list of Piazza Affari, best performance for Brunello Cucinelli, up 8.0 percent, after it revised upward its estimates for 2024 thanks to very positive sales. Sales are expected to grow between 11% and 12%, with a fourth quarter in line with the third. Expected growth for the years 2025 and 2026 is about 10 percent annually. After the news, Goldman raised its target price on the stock to EUR114.00, confirming its 'buy' recommendation.

Strength also on BPER Banca, which closed bullish by 4.9% at EUR6.12, following up the 0.8% gain in the previous session.

Pirelli rose 1.5 percent. Camfin, the group's historic shareholder under Marco Tronchetti Provera, is working on a maxi-refinancing to consolidate its position in Pirelli's capital, where it currently holds 26.1 percent.

According to banking sources quoted by Il Messaggero, the operation is being coordinated by Camfin's CEO Giovanni Tronchetti Provera, with the support of a pool of banks led by UniCredit and Intesa Sanpaolo, flanked by Banco BPM, and is being advised by Lazard, Fivers and McDermott. The plan calls for a three-year refinancing of EUR650 million earmarked for Camfin, Camfin Alternative Assets and Longmarch Italia, companies under the control of the Tronchetti family thanks to special statutory mechanisms. The resources will be used to optimize the consolidated debt of the three companies, currently around EUR450 million, by reducing its cost and extending its maturity to the end of 2027. They will also enable Camfin to increase its stake in Pirelli to 29.9 percent, a goal announced back in October.

Azimut - in the green by 0.3 percent - reported Thursday that it had completed the repayment of its EUR500.0 million senior bond, issued in 2019 with a maturity date of December 2024 and an annual coupon of 1.625 percent.

Also among the many bullish performers are Amplifon, up 1.1 percent, and Campari, up 1.8 percent.

At the bottom since the open, Prysmian has dropped 2.5%, after two bullish sessions.

Iveco, on the other hand, gave up 1.1 percent, after two bullish sessions.

On the Mid-Cap, Juventus FC did well, rising 0.8 percent after a Champions League win against Manchester City that boosted the Bianconeri's European ambitions.

Purchases also for Safilo Group, up 2.2 percent to EUR0.94 per share.

Strength on OVS, which closed 8.2% ahead, marking its 11th consecutive bullish session.

Alerion, on the other hand, gave up 2.8 percent to EUR17.20 per share, on the heels of eve's 0.7 percent decline.

On the Small-Cap, Bialetti Industrie did well, in its third bullish session, up 17 percent and with more than one million shares traded, compared with a three-month daily average of around 46,000.

Eurotech, on the other hand, rallied 3.8 percent to EUR0.78, rebounding after four sessions ended in a bearish candle.

AbitareIn, on the other hand, rose 3.7 percent despite weak accounts for the last fiscal year. Sales fell to EUR74.8 million as of September 30 from EUR116.3 million a year earlier, with Ebitda dropping more than half to EUR17.1 million from EUR35.0 million. Earnings before taxes fell to EUR10.1 million from EUR25.1 million while net income fell sharply to EUR5.8 million from EUR24.3 million. Net financial debt, on the other hand, rose to EUR89.1 million from EUR38.5 million.

Beghelli halts Gewiss' post-OPA run and remains flat at EUR0.329 per share.

Among SMEs, Elsa Solutions advanced 4.5 percent on the heels of eve's double-digit green with 12 percent.

Cofle, on the other hand, picked up 5.3 percent, rearing its head again after two sessions in which it gave up an aggregate of about 12 percent.

Farmacosmo - in the green by 0.6 percent - reported Thursday that the closing with Laboratorio Farmaceutico Erfo - up 12 percent - for the purchase of 49 percent of FRCM1 for EUR151,900 had been finalized, following up on Laboratorio Farmaceutico Erfo's exercise of its option.

Among the bearish - numerous in the list - Eprcommunication gave up 6.1%, subject to profit taking after four bullish sessions.

Circle, on the other hand, gave up 5.1 percent, in its third session with a bearish trend and with new price at EUR7.48 per share.

In New York, the Dow is giving up 0.2 percent, the Nasdaq is in the red by 0.4 percent, and the S&P 500 is giving up 0.2 percent.

Among currencies, the euro changes hands at USD1.0506 from USD1.0496 on Wednesday in closing European equities. The pound is worth USD1.2711 versus USD1.2752 last night.

Among commodities, Brent crude is worth USD72.76 per barrel from USD73.05 per barrel at Wednesday's close. Gold trades at USD2,681.87 an ounce from USD2,751.44 an ounce last night.

On Friday's macroeconomic calendar, coming from the United Kingdom is the GDP, manufacturing, construction and trade balance data. At the same time, trade balance and industrial production will be coming in from Germany.

At 1100 CET, from the Eurozone, coming in is the industrial production figure.

From the U.S., at 1900 CET the Baker Hughes plants data, while at 2130 CET, as usual on Friday, it will be the turn of the COT Report.

On the corporate calendar, no particular communications are scheduled.

By Maurizio Carta, Alliance News senior reporter

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