(Alliance News) - Mid-day Thursday, the Mib index moves bearish in the 27,700 area - in line with other European exchanges - as trading rooms pondered the hawkish message from the Federal Reserve, which despite pausing the bullish interest rate cycle, announced that the uptrend is certainly not over.

An increase is expected - for the most part - as early as the next meeting. Therefore, in the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate, or EFFR, the rate confirmation at the July 26 meeting has a 31 percent probability for confirmation in the 500/525 bps range. In contrast, the 25 bps hike in the 525/550 bps target is priced at 69%.

In addition, a 25 bps rate hike is expected from the European Central Bank, while Friday will be the turn of the Bank of Japan, which is expected, like the Fed, to confirm the current rate with a still dovish stance.

The FTSE Mib is down 0.3 percent at 27,713.15.

In Europe, London's FTSE 100 is advancing 0.1 percent, Paris' CAC 40 is down 0.6 percent, and Frankfurt's DAX 40 is in the red 0.4 percent.

The Mid-Cap is trading in the red by 1.0% at 43,535.54, the Small-Cap is down by 0.2% at 27,547.10, and Italy Growth is in the red by 0.1% at 9,127.96.

On the Mib, the rear ends see UniCredit giving up 1.0% to EUR18.92, reversing course after three bearish sessions.

ItalGas, meanwhile, is giving up 2.7 percent on the day the board approved the group's new Strategic Plan for 2023-2029. The new plan calls for total investments of EUR7.8 billion, the company explains, mainly dedicated to interventions for the development of gas distribution assets and activities in Italy and Greece, energy efficiency activities, and development in the water sector.

Amplifon, however, retreats 1.0 percent to EUR34.87 per share, in position to close its third bearish session.

Eni -- down 0.2 percent -- announced Wednesday that it had purchased 5.0 million of its own shares between June 5 and June 9, 2023. The shares were purchased at a weighted average price of 13.0743 for a total consideration of EUR65.4 million.

CNH Industrial -- in the red by 0.6 percent -- reported Thursday that it had purchased 1.3 million of its own ordinary shares between June 5 and June 9, for a total value of EUR15.9 million.

FinecoBank rises well, continuing the uptrend seen since the bell rang and advancing 1.8 percent to EUR12.68. On the stock, Jefferies cut its target price to EUR13.00 from the previous EUR14.90.

On the cadet segment, Juventus FC is giving up 4.3% to EUR0.3438 pointing to the fourth session to close lower.

OVS -- in the red by 3.9 percent -- on Wednesday approved results for the first quarter of the year, February to April 2023, reporting net sales up to EUR336.5 million from EUR299.9 million in the same period of 2022.

doValue advances 1.9 percent to EUR4.51, pointing the snout toward the fourth session to end in bullish territory.

Good buys also on Alerion, which joins the small group of profitable stocks contributing plus 0.8 percent.

On the Small-Cap, Bialetti Industrie advances 4.4 percent to EUR0.2870 in its third bullish session.

d'Amico International Shipping--best on the list with 4.8 percent--reported on Wednesday that it has resolved to start a new share buyback program as of June 19.

Also advancing well was Fidia, which posted a plus 3.8 percent to EUR1.3650, rebounding after three sessions among the bearish.

The board of directors of Zucchi -- down 2.1 percent -- on Wednesday approved its interim report as of March 31, having reported a profit of EUR1.9 million from EUR2.1 million in the same period last year.

Among SMEs, Clabo is advancing 3.9 percent to EUR1.9950, in its fifth bullish session.

DBA Group, on the other hand, is advancing 2.5 percent to EUR1.82 per share, after a 1.9 percent loss on the eve of the session.

Solid World Group - up 1.6 percent - announced Thursday that it has received three orders totaling EUR1.2 million for its 3D printer that makes decorated fabrics, which has an economic value of EUR400.00 or so.

Doxee - up 1.2 percent - announced Wednesday in the evening that it had been awarded, in a Temporary Grouping of Companies together with the company Postel Spa as the agent, the tender announced by INPS aimed at the conclusion of a framework agreement for the duration of four years, concerning the "Service aimed at the creation of personalized and interactive videos."

Ilpra - flat at EUR5.30 - announced on Wednesday that, in agreement with the shareholders of the Turkish-registered company Ponapack, the transaction to acquire 30 percent of its share capital will not be carried out at closing. The transaction envisaged the purchase at closing by Ilpra, for a total consideration of about EUR1 million, of category B shares, which, by virtue of the prerogatives provided for in the target's bylaws, would have guaranteed 51 percent voting rights.

In New York last night, the Dow gave up 0.7 percent, the Nasdaq rose 0.4 percent, and the S&P 500 gained 0.1 percent.

Among Asian exchanges, the Nikkei closed below par, the Hang Seng picked up 2.2 percent, while the Shanghai Composite finished up 0.7 percent.

Among currencies, the euro changed hands at USD1.0845 against USD1.0849 yesterday in closing European equities. In contrast, the pound is worth USD1.2663 from USD1.2689 on Wednesday evening.

Among commodities, Brent crude is worth USD73.75 per barrel versus USD74.18 per barrel last night. Gold, on the other hand, trades at USD1,935.90 an ounce from USD1,956.91 an ounce last night.

Thursday's macroeconomic calendar, in addition to the ECB decision at 1415 CEST and the press conference of the president, Christine Lagarde, half an hour later, includes from the US the jobless claims report at 1430 CEST.

Coming at the same time as retail sales.

By Maurizio Carta, Alliance News senior reporter

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