(Alliance News) - Piazza Affari is expected to rise on Thursday, the day when all eyes in the markets will be on the European Central Bank's decision on rates.

The European Central Bank is expected to cut interest rates by 25 basis points again, and its language is expected to take on a cautiously accommodative tone, analysts predict ahead of Thursday's decision.

The ECB's last monetary policy meeting took place in October, when a 25 basis point cut was decided. Interest rates on deposit facility, main refinancing operations and marginal lending facility were raised to 3.25 percent, 3.40 percent and 3.65 percent, respectively.

The FTSE Mib is given up 55.0 points or 0.2 percent after rising 0.6 percent to 34,731.31 on Wednesday's session.

London's FTSE 100 is shown up 8.3 points or 0.1 percent, Paris' CAC 40 is expected up 5.9 points or 0.1 percent and Frankfurt's DAX 40 is expected to be in the red 27.1 points or 0.1 percent.

Last night in Milan, the Mid-Cap rose 0.8 percent to 48,631.97, the Small-Cap closed up 0.4 percent to 28,547.22, and the Italy Growth finished up 0.6 percent to 7,830.84.

On the highest-capitalization list in Piazza Affari, Leonardo did best of all, up 3.1 percent.

Saipem did well, up 2.6 percent. JPMorgan raised its target price on the stock to EUR3.40 from EUR3.20 with an 'overweight' rating.

Assicurazioni Generali gained 2.4 percent. AM Best reported that it upgraded the insurance group's financial strength rating to 'A+ Superior' from 'A Excellent' and its long-term credit rating to 'aa- Superior' from 'a+ Excellent.' The outlook remains Stable.

Banca Popolare di Sondrio--up 0.9 percent--reported Wednesday that it had been notified by the ECB that it had exceeded SREP prudential requirements.

Nexi rose 0.1 percent. The company announced Wednesday that it has signed, with Cassa di Risparmio di Volterra, a strategic partnership with the aim of expanding and enhancing digital payment services for its customers, both private and commercial.

Intesa Sanpaolo -- up 0.9 percent -- reported Wednesday that it "largely meets" the capital requirement set by the ECB for 2025.

UniCredit was up 0.4 percent. Orcel attempts to reopen talks with Crédit Agricole, which is now taking a more cautious stance. Possible developments could include the extension of Amundi's contract on UniCredit or the purchase of branches in the event of a BPM-UniCredit merger, consolidating Crédit Agricole's position as the third banking hub in Italy. Banco BPM, meanwhile, closed fractionally in the red.

Eni closed in the red by 0.2 percent. The six-legged dog reported Wednesday that it had bought back 8.4 million of its own ordinary shares between Dec. 2 and Dec. 6 for a total value of EUR112.5 million.

Sales on Stellantis, which lost 0.6 percent, after two bullish sessions.

Hera - down 0.9 percent - was fined nearly EUR2.0 million by the Antitrust Authority and ComoCalor EUR286,600 "for excessive pricing in the district heating sector," as specified in a press release issued by the authority.

On the Mid-Cap, Rai Way rose 2.9 percent. According to rumors reported by Corriere della Sera on Wednesday, Rai is ready to bring to the board for signature the memorandum of understanding aimed at studying the aggregation between its subsidiary Rai Way and Ei Towers, the competitor owned 60% by the F2i fund and 40% by Mfe.

The topic could already be included in the agenda of the Dec. 19 board meeting or in the first board meeting in 2025.

MFE-MediaForEurope -- with A shares up 1.5 percent and B shares in the red by 0.1 percent -- is poised to close a golden 2024, with the highest TV profits since 2010, and remains convinced that growth is necessary to have more clout and synergies, more on revenues than costs, as La Repubblica reported Wednesday.

To that end, it has negotiated with a pool of banks EUR3.4 billion in credit lines on favorable terms -- 120 points above Euribor -- with which it will be able to finance its takeover bid on German TV, in which it already has a 29.9 percent stake.

But before venturing a bid, MFE is waiting for Prosiebensat to divest its non-strategic assets. In this regard, the Bert Habets-led group expects to divest Verivox to Multiply by year-end.

Webuild -- up 0.4 percent -- reported on Wednesday that it has opened one of the world's largest automated factories for the production of 'ashlars' for lining the tunnels of the Naples-Bari high-speed railway, on the border between Campania and Puglia, in the municipality of Bovino.

On the Small-Cap, Bastogi did well, soaring 21 percent. On the other side of the list, Fidia gave up 9.6 percent while EPH closed 4.8 percent in the red, at its lowest in 30 days.

Among SMEs, Sicily by Car closed up 17 percent to EUR3.83. The company reported Tuesday evening that it had revenues of EUR101.7 million for the first nine months of the year, up 3.1% from EUR98.6 million in the same period of 2023.

Ebitda as of September 30 amounted to EUR33.3 million, down from EUR45.3 million a year earlier.

Comal closed up 12 percent. Duferco Solar Projects announced Wednesday that it has reached an agreement to launch a takeover bid for the company.

The takeover bid -- aimed at delisting -- covers 12.8 million ordinary shares of Comal and the offer is EUR4.80 per share. Among the company's shareholders, Virtuis Solaris Srl will join with its 3.1 million shares.

Among the bearish, Cofle dropped 7.6 percent, hitting a new 52-week low.

In Asia, the Nikkei closed Thursday up 1.2 percent to 39,849.14, the Shanghai Composite finished up 0.9 percent to 3,461.50 and the Hang Seng rose 1.4 percent to 20,438.03.

In New York, the Dow closed Wednesday down 0.2 percent to 44,148.56, the Nasdaq rose 1.8 percent to 20,034.90 and the S&P 500 rose 0.8 percent to 6,084.19.

Among currencies, the euro changed hands at USD1.0522 from USD1.0496 on Wednesday in closing European equities. The pound is worth USD1.2780 versus USD1.2752 last night.

Among commodities, Brent crude is worth USD73.73 per barrel from USD73.05 per barrel at Wednesday's close. Gold trades at USD2,720.36 an ounce from USD2,751.44 an ounce last night.

Thursday's macroeconomic calendar opens at 1000 CET, from Italy, with the quarterly unemployment rate; at 1110 CET, also from Italy, BTP auctions with different maturities are scheduled.

In the afternoon, at 1415 CET, eyes are on the European Central Bank's decision on interest rates.

At 1430, from the US, the producer price index is expected. Back in the euro zone, at 1445 CET it is the turn of the ECB press conference and at 1615 CET President Lagarde's speech.

It closes, from the US, at 2230 CET with the Fed's weekly balance sheet.

Among the companies listed in Piazza Affari, no particular announcements are expected.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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