(Alliance News) - Piazza Affari is expected to fall slightly at the start of trading on Thursday, on a day that includes a few more macro cues than previous ones but with traders' eyes all focused on quarterlies and central banks.

Meanwhile, the People's Bank of China said it kept its one-year lending rate-which serves as the benchmark for corporate loans-unchanged at 3.55 percent. The five-year rate remained at 4.20 percent.

The decision had been anticipated by the market, according to the consensus cited by FXStreet, with the PBoC also leaving its medium- and short-term lending rates unchanged earlier this week.

The FTSE Mib is indicated down 60.0 points or 0.2 percent after closing just above par at 28,712.31 on Wednesday.

London's FTSE 100 is given down 13.0 points or 0.2 percent, Paris' CAC 40 is estimated in the red by 18.0 points or 0.3 percent, and Frankfurt's DAX 40 is expected down 38.0 points or 0.2 percent.

Last night in Piazza Affari, the Mid-Cap gained 0.4 percent to 42,456.03, the Small-Cap closed up 0.2 percent to 26,734.54, and the Italy Growth rose 0.2 percent to 9,095.98.

On the main index of Piazza Affari, ERG moved ahead 1.7 percent with price at EUR27.80, after announcing Tuesday that it had finalized the renewal of its medium-term nonconvertible bond issue program - Euro Medium Term Notes Program - with a total maximum amount of EUR3 billion, of which EUR1.6 billion has already been issued.

Nexi, on the other hand, took home 2.6 percent, on the heels of the eve's 1.2 percent rise.

Good trades also on Terna, which posted a plus 1.3 percent at the close. In particular, the latter launched a EUR650 million green bond issue. The bond is part of the soceity's EUR9.00 billion Euro Medium Term Notes program, rated 'BBB+' by S&P and '(P)Baa2' by Moody's. It has a term of 10 years, maturing in July 2033, with a coupon of 3.875% and an issue price of 99.1%, with a spread of 90 basis points over midswap. Terna expects that the net proceeds of the issue will be used to finance the company's "eligible green projects," identified or to be identified based on Terna's green bond framework.

In contrast, Snam advanced 1.4 percent, gaining ground after three sessions in the red.

Among the narrow group of bearish performers, Moncler closed down 1.7 percent. "Spooking European luxury is the signals coming from the health of the Chinese economy, despite the fact that the sector is by definition countercyclical. In the second quarter of the year, Beijing's Gross Domestic Product grew 6.3 percent versus plus 7.1 percent as expected, and in June retail sales rose only 3.1 percent year-on-year versus plus 12.7 percent in May," writes Alliance News columnist Francesco Bonazzi.

Also among the bearish minority was Inwit, which posted a minus 1.5 percent. On the stock it is reported that Berenberg raised its target price on the stock to EUR13.60 from EUR13.50 with a 'buy' recommendation.

On the Mid-Cap, Salcef Group -- up 0.7 percent -- reported Wednesday that subsidiaries won contracts totaling EUR150 million from RFI in Lombardy and Veneto and from EAV Srl in Campania.

Alerion closed up 2.7 percent, with the company continuing its buyback plan. Most recently on Monday it informed that it had bought back 4,400 of its own shares from July 10 to 14 for a total value of about EUR124,000.

Antares, on the other hand, rose 2.2 percent to EUR6.59, following eve's gain of 0.9 percent.

Safilo Group -- up 2.0 percent -- and Juicy Couture, a global fashion brand with an iconic lifestyle, on Tuesday announced the renewal, through Dec. 31, 2027, of their global licensing agreement for the design, production, and distribution of Juicy Couture-branded women's eyewear and sunglasses and girls' eyewear.

Down goes Tod's, which gave up 1.8 percent to EUR41.60 per share after a 0.4 percent green on eve.

Also at the tail end is Reply, which posted minus 1.0 percent after eve's slight gain of 0.1 percent.

On the Small-Cap, strength on Neodecortech, which raised the bar 8.6 percent. Volume of more than 111,600 is reported on the stock, compared with the three-month daily average of about 10,800.

High rankings also for Tessellis, which put up 4.0 percent after two bearish sessions.

High quarters also for Softlab, which rose 3.4 percent after eve's 1.2 percent decline.

Esprinet gained 1.8 percent after announcing Wednesday that it had entered - on July 18 - a binding agreement to acquire 100 percent of the capital of Sifar Group Srl, a company under Italian law that has been active since 2012 in the B2B distribution of spare parts, components and accessories for mobile phone and tablet products. The acquisition will take place at an estimated consideration of EUR16.0 million and subject to adjustment mechanisms.

Itway closed 2.7 percent in the red, placing it on the bearish side for the fourth consecutive session.

Among SMEs, eVISO closed taking home 10 percent, rebounding after two bearish sessions.

BFC media, on the other hand, picked up 7.2 percent, rearing its head again after four sessions closed down.

Pattern climbed 1.4 percent after announcing Tuesday that Idee Partners, a company currently its subsidiary, has signed a framework agreement with Paolo Benedetti to acquire from him an additional 30 percent of the share capital of RGB Srl, a Tuscan company specializing in the production and processing of leather accessories, to hold 100 percent of the latter's share capital at the transaction's closing.

Arterra Bioscience gained 8.1 percent with new price at EUR2.26 per share, following the eve's loss with the same percentage decline. Of note, the company reported Monday that it closed the first half of the year with revenues of EUR1.6 million, down 25 percent from EUR2.1 million in the same period last year.

Gentili Mosconi, meanwhile, gave up 5.3 percent to EUR3.40 per share, with volume of more than 38,000 changed hands compared to a three-month daily average of about 6,800.

In Asia, the Nikkei is down 1.3 percent to 32,462.86, the Shanghai Composite gives up 0.7 percent to 3,177.21 and the Hang Seng is down slightly to 18,946.58.

In New York, the Dow Jones closed Wednesday down 0.3 percent to 35,061.21, the Nasdaq finished just above par at 14,358.02 and the S&P 500 rose 0.2 percent to 4,565.72.

Among currencies, the euro changed hands at USD1.1207 versus USD1.1194 in Wednesday's closing European equities while the pound was worth USD1.2923 from USD1.2888 last night.

Among commodities, Brent crude is worth USD79.47 per barrel versus USD80.03 per barrel at Wednesday's close. Gold, meanwhile, trades at USD1,981.70 an ounce from USD1,974.04 an ounce last night.

On Thursday's macroeconomic calendar, the Eurozone current account balance figure will be released at 1000 CEST.

At 1430 CEST, from the U.S., will come initial claims for unemployment benefits while at 1600 CEST space will be given to existing home sales. At 1730 CEST, an auction of four- and eight-week Treasury bonds is scheduled.

Among the companies in the Piazza Affari, the results of Altea Green Power, Gismondi and Labomar are forthcoming.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

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