(Alliance News) - On Thursday's final day, major European stock markets closed in positive territory on the day the ECB decided -- as expected -- to raise interest rates.

The central bank decided to raise the ECB's three benchmark interest rates by 50 basis points, in line with its determination to ensure the timely return of inflation to its medium-term target of 2 percent. Thus, the interest rate on the main refinancing operations, the interest rates on the marginal lending facility and the deposit facility will be increased to 3.50 percent, 3.75 percent and 3.00 percent, respectively, starting March 22, 2023.

"The ECB's new macroeconomic projections were finalized in early March, before the recent emergence of tensions in financial markets. Therefore, these tensions imply further uncertainty about the underlying assessments of inflation and growth. Prior to these latest developments, the baseline profile of headline inflation had already been revised downward, mainly due to a lower contribution from energy prices than previously expected," the Eurotower reported.

The ECB now sees average inflation of 5.3 percent in 2023, 2.9 percent in 2024 and 2.1 percent in 2025. At the same time, underlying price pressures remain strong.

Thus, the FTSE Mib closes up 1.4 percent to 25,918.76, the Mid-Cap up 1.7 percent to 42,347.14, the Small-Cap gains 0.6 percent to 27,537.50, while Italy Growth is in the fractional red at 9,215.41.

In Europe, London's FTSE 100 rises 0.9 percent, Paris' CAC 40 gains 2.3 percent and Frankfurt's DAX 40 is up 1.7 percent.

On the main list in Piazza Affari, A2A does well, in the green by 2.2 percent. The company's sales rose to EUR23.17 billion, doubling from EUR11.55 billion a year earlier. The change is mainly related to the bullish dynamics of commodity prices that characterized the year. This increase was matched by an increase in energy commodity procurement costs.

Operating income improved by 4.1 percent to EUR687 million from EUR660 million, and net income, on the other hand, fell 20 percent to EUR401 million from EUR504 million, with the ordinary figure, however, marking a 2.4 percent growth to EUR380 million from EUR371 million.

Also in the black is Snam, up 3.0%. The board reported that the company reported adjusted net income of EUR1.16 billion in 2022, down 4.5% from EUR1.21 billion in 2021, due to lower operating income, offset by the positive performance of investee companies.

Total revenues, net of energy costs, stood at EUR3.32 billion, up 11 percent from EUR2.99 billion in 2021.

ERG's board of directors -- in the green by 2.0 percent -- reported that the company posted a net income of EUR383.0 million as of December 31, 2022, up from EUR174.0 million in 2021. The board also proposed dividend of EUR1.00 up from EUR0.90 in 2021.

Revenues for 2022 are EUR714.0 million up from EUR601.0 million in 2021.

Among the bearers is Telecom Italia, down 1.0 percent. TIM's board of directors announced Wednesday that the board had met to consider the non-binding offer submitted by the consortium formed by CdP Equity and Macquarie Infrastructure and Real Assets, acting on behalf of a group of investment funds managed or advised by the Macquarie group -- NBOs of the consortium -- to purchase a constituent company that would essentially own the management and infrastructure perimeter of the fixed network, including the assets and activities of FiberCop, as well as the stake in Sparkle.

Thus, the board made it known that it "greatly appreciated the interest expressed in the aforementioned NBO of the Consortium, while considering that the same like KKR's NBO does not reflect the value of the asset and TIM's expectations."

On the cadet segment, Webuild rose more than 12 percent after reporting adjusted net income of EUR118.0 million, an improvement from a loss of EUR56 million in 2021.

Adjusted revenues are EUR8.16 billion up from EUR6.67 billion in 2021, up 22 percent.

Rai Way -- in the green by 0.6 percent -- reported core revenues of EUR245.4 million, up 6.7 percent from EUR229.9 million in fiscal 2021, partly due to indexing to inflation.

The board of directors of El.En. - down 5.4 percent - approved the consolidated financial statements as of December 31, 2022, which closed with a consolidated net income of EUR55.1 million compared to EUR45.4 million in 2021. The board proposed the distribution of a dividend of EUR0.22 per share.

The board of directors of Brunello Cucinelli -- in the green by 8.6 percent -- approved on Wednesday the 2022 consolidated financial statements and the draft 2022 operating budget reporting a profit of EUR87.2 million up 55 percent from EUR56.3 million in 2021. The board also proposes a dividend of EUR0.65 per share from EUR0.42 in 2021, with a pay-out of 50 percent.

Net revenues for the year 2022 are EUR919.7 million, up from EUR712.1 million in 2021.

Arnoldo Mondadori Editore's board of directors, which closed in the green by 2.2 percent, reported that net income for 2022 is EUR52.1 million, up 18 percent, representing the group's best result in 15 years.

Net revenues were EUR903 million, up 12 percent from 2021 when they were EUR807.3 million.

On the Small-Cap, Enervit--up 2.2 percent--reported a net profit of EUR4.2 million from EUR3.6 million in the same period last year.

Revenues amounted to EUR76.3 million compared to EUR64.8 million as of Dec. 31, 2021.

Gabetti Property Solutions closes flat at EUR1.12 per share after reporting Thursday that it closed 2022 with net income up to EUR11.6 million from EUR8.3 million a year earlier.

Revenues fell 9 percent year-on-year to EUR152.5 million from EUR167.2 million in 2021.

Among SMEs, Circle is down 1.2 percent after its board of directors approved some figures for the year ending Dec. 31, 2022, reporting consolidated production value of EUR10.9 million, up 17 percent from EUR9.3 million in 2021.

Fenix Entertainment rises 3.2 percent after an investment agreement was signed with investor Negma Group Investment on the overall capital and financial strengthening transaction, based on the issuance of a cum warrant bond reserved for subscription by Negma.

In New York at the height of trading on Thursday, the Dow is up 0.6 percent, the Nasdaq gains 1.8 percent while the S&P 500 is in the green by 1.2 percent.

Among currencies, the euro changes hands at USD1.0620 against USD1.0538 at yesterday's close. In contrast, the pound is worth USD1.2113 from USD1.2019 on Wednesday evening.

Among commodities, Brent crude is worth USD74.34 per barrel versus USD72.52 per barrel last night. Gold, on the other hand, trades at USD1,924.25 an ounce from USD1,935.88 an ounce at Wednesday's close.

Friday's macroeconomic calendar opens at 0530 CET in Japan with the tertiary industry activity index.

At 1000 CET it's the turn of the Italian trade balance while, half an hour later, comes data on inflation expectations in the United Kingdom.

At 1100 CET it is the turn of inflation for the Eurozone and payroll data for the euro area.

In the afternoon, at 1415 CET, data on U.S. industrial and manufacturing production are expected.

At 1500 CET, it is the turn of Michigan expectations sentiment and the US predictive index.

Among the companies listed in Piazza Affari, the results of Banca Popolare di Sondrio, Centrale del Latte d'Italia, GEL, Intermonte Partners SIM, Interpump Group, Matica Fintec, Newlat Food and Softlab are expected.

By Claudia Cavaliere, Alliance News reporter

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