(Alliance News) - Piazza Affari is off to a strong start Thursday, with the main list breaking through 26,000 and corporate results gradually hogging investors' attentions. The bluechip list is being driven by STMicrolectronics -- Italy's sixth largest company by capitalization -- which presented excellent accounts for the recently closed year.

As for the Federal Reserve, in the CME Group platform's FedWatch Tool -- using futures also based on the actual federal funds rate, or EFFR -- the main rate hike for the Feb. 1 meeting has a 99 percent probability priced into the upper range of 450/475 bps. In contrast, the probability of an increase in the 475/500 bps area is at 1%. The current target is between 425 and 450 bps.

On the Russian-Ukrainian military confrontation side, on the other hand, after hearing Scholz, Macron, Sunak and Meloni by phone, U.S. President Joe Biden confirmed through a brief speech at the White House that 31 Abrams tanks are being sent to Ukraine, which experts rate as the best ever.

Gianclaudio Torlizzi - managing director of T-Commodity - commented: The remilitarization process in the West, i.e., the production=deterrence equation, will have an inflationary impact on the economy similar to the fiscal stimulus launched in the 2020-2021 period at the height of Covid. The government should be aware of this and be prepared."

Thus, the FTSE Mib advances 0.8 percent to 26,084.69.

In Europe, Paris' CAC 40 is rising 0.8 percent, London's FTSE 100 is advancing with 0.3 percent, as is Frankfurt's DAX 40.

Among the smaller lists, the Mid-Cap is up 0.5 percent to 43,190.26, the Small-Cap is up 0.7 percent to 29,766.77, and Italy Growth is in the green 0.5 percent to 9,614.51.

On the main list in Piazza Affari, as mentioned, STMicroelectronics is off to a strong start--up 6.7 percent--reported Thursday that it saw revenues and earnings grow in the last fiscal year and in the final quarter of 2022, with the indicators all up double digits.

Net revenues rose 24 percent year-on-year in the fourth quarter, to USD4.24 billion from USD3.56 billion in the same period a year earlier, while, for the full year, they improved 26 percent to USD16.13 billion from USD12.76 billion a year earlier. Net income, up 66 percent in the quarter, to USD1.25 billion from USD750 million--with post-dilution operating profit at USD1.32 from USD0.82--while, in the full year, it rose 98 percent to USD3.96 billion from USD2.00 billion, with post-dilution earnings per share boosted to USD4.19 from USD2.16.

Amplifon also pushes ahead with 1.5 percent after eve's red with 0.8 percent. On the stock it is mentioned that Jefferies promotes Amplifon to 'buy' from 'hold' and raises target price to EUR29.20 from EUR26.20.

Good start also for the banking sector, among which FinecoBank stands out, picking up 1.1 percent after three sessions ended on the downside.

Among the very few bearish performers, Campari does worst of all, giving up 1.5% after ier's gain, albeit by 0.1%.

On the cadet segment, purchases on Italmobiliare, which bring the price to EUR33.30 with a positive balance of 2.8%.

Société Générale raised Tod's target price to EUR36.00 from EUR34.00. Goldman Sachs, on the other hand, raised it to EUR36.00 from EUR35.20. The stock trades in the green by 3.0 percent.

Among the bearish, Cementir Holding, on the other hand, gives up 0.9 percent after a 0.3 percent gain on the eve of trading, while Wiit retreats 0.5 percent by setting the price at EUR21.20 per share.

On the Small-Cap, Servizi Italia retreats 2.4%, after the previous session's gain of 0.4%.

Boost on Gequity, which advances with 5.0% after last night's red with 1.7%.

Caltagirone, on the other hand, marks a green of 4.1% at EUR3.59, after eve's loss with 1.5%, while not far behind, Caleffi depreciates with 1.9%.

Among SMEs, CleanBnB advances, registering a plus 4.0%. The company disclosed that it posted a dynamic trend in the fourth quarter of the year, with a total of 17,907 stays managed, which generated revenues totaling EUR6.4 million. CleanBnB's managed stays during 2022 also totaled 67,101, a 116 percent increase over 2021, and 156 percent higher than even the 2019 result before the impact of the Covid-19 pandemic.

TraWell Co - up 6.2% - disclosed that it has renewed - through its wholly owned subsidiary Safe Bag Latam Peru - the provision of its integrated traveler assistance services at Lima International Airport until December 2024.

Iervolino Entertainment loses ground, retreating 4.5 percent to EUR1.22 on the heels of eve's 1.5 percent red.

Closing the list is Alfonsino, which retreats 5.9 percent, the subject of profit taking, considering that it has garnered nearly 60 percent appreciation in the past week.

In New York, the Dow Jones closed in fractional green, the S&P just below par, while the Nasdaq finished 0.2% in the red.

In Asia, however, the Nikkei closed down 0.1 percent.

Among currencies, the euro changed hands at USD1.0906 versus USD1.0892 at Wednesday's close. In contrast, the pound is worth USD1.2390 from USD1.934.82 on Wednesday evening.

Among commodities, Brent crude is worth USD85.78 per barrel from USD86.71 per barrel on Wednesday evening.

Gold, meanwhile, trades at USD1,940.24 an ounce from USD1,934.82 an ounce last session.

On Thursday's economic calendar, at 1000 CET, business and consumer confidence data arrive from Italy.

At 1030 CET, from the UK, it's the turn of labor productivity.

In the afternoon, from the US, at 1430 CET comes GDP, along with durable goods orders, goods trade balance, and unemployment claims.

At 1600 CET, also from the US, comes new home sales and the Fed KC manufacturing index.

Among companies in the Piazza Affari, results from Aeffe, De' Longhi and Salvatore Ferragamo are expected.

By Maurizio Carta, Alliance News reporter

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