(Alliance News) - On Thursday, major European stock exchanges--except Paris--close voted down, with Milan overwhelmed by the results and concerns of regional banks coming back to haunt markets while, in the UK, it weighs that the pound has plummeted despite a more optimistic BoE, which has ruled out the UK falling into recession this year.

Thus, the FTSE Mib closes down 0.6 percent to 27,098.89, the Mid-Cap up 0.2 percent to 43,004.54, the Small-Cap gives up 0.6 percent to 28,306.09, while Italy Growth loses 0.1 percent to 9,097.90.

In Europe, London's FTSE 100 ends down 0.1 percent, Paris' CAC 40 gains 0.3 percent, and Frankfurt's DAX 40 gives up 0.4 percent.

In macroeconomic news, the Bank of England raised interest rates again by 25 basis points as it grapples with rampant inflation, and the central bank significantly raised its economic outlook for the United Kingdom, predicting that a recession will be avoided.

The quarter-point increase, in line with market expectations, brings the benchmark bank rate to 4.50 percent from 4.25 percent. This is the 12th consecutive BoE rate increase. The official rate was at 0.10% before the current round of hikes.

From the U.S., producer prices in the U.S. rose 0.2% month-on-month in April, after a downwardly revised 0.4% decline in March and compared to market expectations of a 0.3% increase, while the number of Americans filing for unemployment benefits increased by 22,000 to 264,000 in the week ended May 6, the most since October 2021, and well above market expectations of 245,000.

On the Mib, despite falling revenues A2A rises 1.3 percent. The company announced Thursday that its board of directors reviewed and approved its quarterly report as of March 31, 2023 reporting an ordinary profit of EUR173 million from EUR106 million in the same period last year.

Third-quarter revenues are down 7 percent to EUR5.13 billion from EUR5.53 billion in Q1 2022.

Banca Generali -- down 0.8 percent -- reported that it made a profit of EUR83.1 million in the first quarter of 2023, up 22 percent from EUR68.3 million recorded in the same period of 2022.

Campari rises 1.1 percent after it announced that it successfully placed an unrated seven-year bond aimed at institutional investors only.

The offering concerns a bond that has a nominal amount of EUR300 million and matures on May 18, 2030, and pays a fixed annual coupon of 4.71 percent.

Recordati's board of directors--up 2.1 percent--approved the financial report as of March 31, 2023, which closed with a net profit of EUR124.0 million as a percentage of revenues of 23 percent. This shows a 28% increase over the same period last year.

Consolidated net revenues in the first quarter of 2023 amounted to EUR551.4 million up 32 percent from the first quarter of the previous year.

Prysmian's board of directors, down 3.8 percent in closing, approved the group's consolidated results for the first quarter of 2023, which ended with a net profit of EUR182 million compared to EUR126 million in the corresponding period of 2022.

Snam gives up 0.8 percent after reporting Thursday that net profit for the first quarter fell to EUR304 million from EUR312 million in the same period a year earlier.

Profits declined despite a 13 percent increase in revenues to EUR912 million from EUR808 million in the first quarter of 2022. Revenues from the energy transition businesses posted a significant increase of EUR124 million, doubling year-on-year, mainly due to the development of energy efficiency, in particular, in the residential sector.

Iveco Group sits on the bottom with 6.0 percent, after announcing that it approved results for the first quarter of 2023, which closed with a profit of EUR10 million compared with a loss of EUR15 million in the same period last year.

Revenues were EUR3.39 billion compared to EUR3.04 billion last year.

On the cadet segment, BFF Bank -- up 2.6 percent -- reported Thursday that it ended the first quarter with a net profit of EUR48.4 million, up from EUR31.3 million in the same period last year.

The board of directors of Iren, which cedes 0.5 percent, announced Thursday that it had approved the results as of March 31, 2023, reporting a group net profit attributable to shareholders of EUR135 million in the first quarter, up 15 percent from EUR118 million in the same period of 2022. The 2022 result included the negative impact of the solidarity contribution of EUR24 million.

Tod's confirms the bullish trend and closes in the green by 2.0%. The stock benefits - in addition to good first quarter accounts - from a target price increase by Goldman Sachs and JP Morgan.

Industrie de Nora, on the other hand, gives up 3.7 percent to EUR16.81 per share. The company reported Thursday that first-quarter net income fell to EUR25 million from EUR26.5 million in the same period a year earlier.

On the Small-Cap, Biesse -- up 0.6 percent -- approved results for the first quarter of the year during which it reported a profit of EUR12.3 million from EUR9.8 million in the same period a year earlier.

Consolidated net revenues amounted to EUR209.5 million from EUR196.6 million as of March 31, 2022.

Aeffe, on the other hand, gives up 0.9 percent in the aftermath of the publication of its quarterly report. Results for the first quarter of the year report a net loss of EUR300,000 from a profit of EUR8.9 million for the same period in 2022.

TXT e-solutions rises 1.6 percent after announcing that the board of directors on Thursday met to approve operating results as of March 31 reporting a net profit of EUR2.9 million, up 40 percent from EUR2.1 million in the first quarter of 2022, net of tax charges of EUR1.1 million.

Among SMEs, Poligrafici Printing gives up 4.0 percent after announcing Thursday that it reported consolidated revenues as of March 31 of EUR6.1 million from EUR6.9 million.

Eles Semiconductors loses 1.0 percent after reporting that net income for 2022 was EUR653,000, down from net income of EUR854,000 a year earlier.

Sales revenue for the period, which takes into account the recent acquisition of CBL Electronics Srl and its investee from October 2022 and Campera ES Srl from January 2022, was EUR26.1 million from EUR19.0 million as of Dec. 31, 2021, an overall increase of 37 percent.

It does best of all Frendy Energy, topping with 12 percent.

In New York, at the height of trading on Thursday, the Dow is down 0.8 percent, the Nasdaq is on parity, and the S&P 500 is down 0.3 percent.

Among currencies, the euro changes hands at USD1.0911 versus USD1.0972 at Wednesday's close. In contrast, the pound is worth USD1.2503 from USD1.2615 on Wednesday evening.

Among commodities, Brent crude is worth USD75.74 per barrel compared to USD76.82 per barrel on Wednesday evening. Gold, on the other hand, trades at USD2.02335 an ounce from USD2.023.19 an ounce at Wednesday's close.

On Friday's macroeconomic calendar, M2 and M3 money supply from Japan is expected at 0150 CEST.

In Europe we start at 0800 CEST with data on UK GDP, construction, manufacturing and investment.

At 0845 CEST it is the turn of inflation in France, at 0900 CEST comes the producer price index in Spain and at the same time data on foreign direct investment and new mortgages in China.

At 1230 CEST the Spanish consumer confidence index is expected.

Overseas, at 1430 comes data on the U.S. export and import price index.

Among the companies listed in Piazza Affari, the results of Buzzi Unicem, Almawave, Caleffi, Gequity, Immsi, Mondo TV, MARR, RCS Mediagroup, and Toscana Aeroporti, among others, are expected.

By Claudia Cavaliere, Alliance News reporter

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