(Alliance News) - European stock markets are moving in a bullish trend on Thursday, with the MIb joining the buy side in the 34,500-point area and with the focus highly focused on monetary policy developments that could, for the ECB, begin with the June meeting.

ECB Vice President Luis de Guindos said a quarter-point cut in interest rates next month seems reasonable, according to an interview with the Austrian newspaper Oberösterreichische.

"We have been very transparent about the decision to be made for the June meeting," he said. "And we are taking a cautious approach, which argues in favor of a 25 basis point reduction."

Thus, the FTSE Mib is advancing 0.2 percent to 34,531.46, 363.

Stocks traded in Piazza Affari are about 25 percent, while more than 56 percent are not yet traded.

Among the smaller listings, the Mid-Cap is advancing 0.3 percent to 47,886.65, the Small-Cap is up 0.2 percent to 29,137.94, and Italy Growth is advancing 0.3 percent to 8,240.12.

In Europe, Paris' CAC 40 is advancing 0.3 percent, London's FTSE 100 is the only bearish with 0.2 percent, while Frankfurt's DAX 40 is advancing 0.3 percent.

On the Mib, Stellantis is advancing well, posting a plus 1.4% at EUR20.68 per share, rebounding after six bearish sessions and with the year-to-date market cap up more than 33%.

Good buying also on Banca Popolare di Sondrio, which moves ahead 1.2 percent after eve's 2.2 percent decline and with the weekly posting minus 12 percent.

Another banker in the early wagons is FinecoBank, which moves up 0.9% after declining by the same percentage on eve.

Saipem -- down 0.4 percent -- on Wednesday evening reported that its subsidiary Saipem Finance International had successfully completed the placement of a new fixed-rate non-convertible and unsubordinated bond for a total amount of EUR500 million maturing in May 2030. The bonds pay an annual coupon of 4.875 percent and have a 100 percent re-offer price. The issue date is scheduled for May 30.


For Terna, however, the decline is 1.1 percent, in position for the fifth session to close with a bearish candle.

On the MidCap, strength on Comer Industres, which moves up 3.9% breaking the four-session bearish mini-trend.

Technoprobe, on the other hand, pushes ahead 3.0 percent, on the heels of the 1.5 percent green of the eve and with the monthly posting a plus 21 percent.

The board of directors of MFE-MediaForEurope on Thursday announced that it has approved periodic financial information for the first quarter 2024. Consolidated net income is a positive EUR16.8 million compared to EUR10.1 million in the same period last year. Class A shares thus advanced 1.6 percent, while class B shares marked a plus 1.2 percent.

Among the few bearish performers, Webuild contracts 9.4%, in its fourth bearish candle session.

On the SmallCap, buoyancy on Italian Exhbition Group, which marks a 2.8% green, with the thiol nearly doubling the market cap on a year-to-date basis, marking a 98% gain.

Exprivia advances 2.7%, rearing its head again after two bearish sessions.

Strength also on Gabetti, which scores a plus 2.5 percent. The stock--which has been missing the ex-dividend since 2006--prices at EUR0.65.

Among PMIs, Compagnia dei Caraibi marks a plus 8.2 percent, in its fifth bullish session and bringing its weekly rise to 22 percent.

For DBA Group, on the other hand, the green is 4.5 percent, with price at EUR3.00 per share-a new 52-week high-and assets since early 2024 of about 60 percent.

In Asia, the Nikkei advanced 1.3 percent, the Hang Seng is giving up 1.8 percent, and the Shanghai Composte left 1.3 percent on the sidelines.

In New York on the European evening, the Dow gave up 0.5 percent, the Nasdaq gave up 0.2 percent, and the S&P marked a minus 0.3 percent.

Among currencies, the euro changed hands to USD1.0829 from USD1.0835 in Wednesday's European stock close while the pound was worth USD1.2744 from USD1.2727 on Tuesday evening.

Among commodities, Brent crude is trading at USD81.83 per barrel from USD82.42 per barrel on Wednesday night. Gold, on the other hand, trades at USD2,355.31 an ounce from USD2,389.77 an ounce on Wednesday night.

On Thursday's economic calendar, it will be coming up with the services and manufacturing PMI for Germany at 0930 CEST, for the Eurozone at 1000 CEST, and half an hour later for the UK.

From the US, at 1430 CEST, data on unemployment claims are due, while at 1545 CEST it will be the turn of the services and manufacturing PMI. In the evening, at 2100 CEST, a speech by Bostic of the FOMC is scheduled.

On the corporate calendar, First Capital's quarterly results are expected.

By Maurizio Carta, Alliance News reporter

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