(Alliance News) - Major European bourses remain close to parity at mid-day on Thursday, with Dutch one-month natural gas futures trading at EUR92 MWh, the lowest in more than six months, and Brent crude still above USD80 a barrel, giving a slight boost to the oil sector.

The FTSE Mib, therefore, is up 0.1 percent at 24,098.93.

London's FTSE 100 is up 0.4 percent to 7,526.97, Paris' CAC 40 is in the fractional red at 6,578.69 as is Frankfurt's DAX 40 at 14,084.24.

On the macro front, Istat reported that producer prices in Italy rebounded in November on a monthly basis and increased the pace of growth on an annual basis.

Industrial producer prices in Italy rose 2.6 percent on a monthly basis in November after falling 3.1 percent in October.

On a year-on-year basis, prices rose 29 percent after increasing 28 percent in the previous month.

Industrial sales in Italy also fell at a lower pace on a monthly basis in October but rose at a slower pace on a year-over-year basis, Istat reported Thursday.

Italian industry sales fell 0.8 percent on a monthly basis in October after declining 1.2 percent in September while, on a year-over-year basis, October's 13 percent increase followed an 18 percent rise in the previous month.

Among the smaller listings in Piazza Affari, the Mid-Cap rises 0.4% to 39,661.09, the Small-Cap is up 0.1% to 27,730.16, while Italy Growth drops 0.1% to 9,223.39.

On the Mib, best of all is Saipem, up 3.7%.

Telecom Italia still leads in pieces traded, with a volume of more than 32 million at mid-day.

The Telecom reorganization is being dealt with by Palazzo Chigi, the Ministry of Enterprise and Made in Italy, the MEF and the Department of Innovation. Already sitting at the table are Vivendi, Telecom's largest shareholder with 24 percent, and Cassa Depositi e Prestiti.

Also doing well were Tenaris, in the green by 1.8 percent, and Eni up 0.9 percent.

The Six-legged Dog announced Tuesday a new gas discovery in offshore Cyprus via the Zeus-1 well, drilled in Block 6, 162 km off the coast and 2,300 meters of water depth.

The block is operated by Eni Cyprus, which holds a 50 percent interest, with TotalEnergies as a partner.

Italgas opens in the green by 0.2 percent after announcing that Depa Infrastructure, a Group company and active in natural gas distribution in Greece, concluded Monday the acquisition of the remaining 49 percent of Thessaloniki - Thessalia Gas Distribution held by Eni Plenitude.

Azimut Holding falls 0.6 percent after signing a strategic partnership, through its Turkish subsidiary Azimut Portföy Yönetimi, with Lycian Capital Partners, a private equity firm focused on the mid-market based in Istanbul.

On the mid-cap, Maire Tecnimont rallies 2.3 percent after announcing Thursday that its subsidiaries Tecnimont, KT-Kinetics Technology and Stamicarbon have been awarded several new contracts for licensing, engineering services and engineering and procurement activities as well as engineering, procurement and construction, with a total value of about USD280 million.

Yesterday, it also announced that its subsidiary Tecnimont was awarded an EPC contract with a total value of about USD1.3 billion and covers the construction of a petrochemical plant and associated utilities and infrastructure.

Webuild rises 0.2 percent after reaching an agreement with Clough Limited administrators to extend the current exclusivity period until Jan. 25, 2023, "given the significant progress on the current transaction."

Yesterday, it also announced that it had reached financial closure for the contract to build the Sydney Metro - Western Sydney Airport Metro Line project, the metro line that will connect the new Western Sydney International Airport with Sydney, as part of the Parklife Metro consortium.

Webuild's share is approximately AUD3.83 billion, about EUR2.4 billion.

Salcef Group rises 1.7 percent. The company mandated Banca Akros to coordinate and/or execute the share buyback program, the initiation of which had already been approved by the board of directors on Nov. 14, 2022.

Specifically, the program provides for the purchase of a maximum of 300,000 shares with a countervalue not exceeding EUR7.7 million. In addition, shares held by the company and its subsidiaries at any time must not exceed a total of 10 percent of the share capital.

Banca Monte Paschi di Siena undermines Juventus FC - up 4.5 percent - and takes the top spot with a 5.9 percent rise.

Among lower-capitalization companies, LVenture Group is tied, after signing with WDA - Web Digital Advisor, Venture Builder, a partnership to launch joint innovation programs aimed at large companies that may also include LVenture Group's entry into WDA's capital.

Banca Finnat also reduced LVenture Group's trarget price but reaffirmed its 'buy' recommendation on the venture capital holding company's stock.

The target price was reduced to EUR0.43 from EUR0.50, according to research by Gian Franco Traverso Guicciardi, Tatjana Eifrig and Stefania Vergati.

FNM reverses course and after opening in the red, now picks up 0.8 percent. The company announced that its subsidiary FerrovieNord and the Lombardy Region, FNM's controlling shareholder, have signed on Wednesday the contractual text regarding the renewal of the service contract, due to expire on Dec. 31, 2022, for the period Jan. 1, 2023 to Dec. 31, 2027.

Better than all does Autostrade Meridionali, up 10 percent but stuck due to excess volatility.

Somec gives up 0.6 percent. The company disclosed Tuesday that it has signed a binding preliminary agreement to acquire 60 percent of the share capital of Gino Ceolin, a company specializing in the creation of custom-made metalwork for exteriors and interiors aimed particularly at the retail, hospitality and high-end residential sectors.

On the alternative capital market in Piazza Affari, SolidWorld is at the top, up 4.4 percent.

Circle rises 0.6 percent after announcing to the market the acquisition of 51 percent of the share capital of Cargo Start, a start-up company active in the development and sale of technology products and services for operators in the air cargo supply chain.

The agreement signed on Dec. 21, 2022, stipulates that, subject to the fulfillment of certain conditions precedent, Circle will complete an investment transaction in Cargo Start for a total amount of EUR500,000 through the subscription of a paid capital increase, reserved for it, for a nominal EUR20,850 and with a premium of EUR479,150.

In New York overnight Europe, the Dow closed up 1.6 percent at 33,376.48, the Nasdaq gained 1.5 percent to 10,709.37 and the S&P 500 rose 1.5 percent to 3,878.44.

In Asia, the Nikkei closed in the green 0.5 percent to 26,507.87, the Hang Seng finished up 2.7 percent to 19,679.22, and the Shanghai Composite closed in the red 0.5 percent to 3,054.43.

Among currencies, the euro changed hands at USD1.0627 versus USD1.0610 at Wednesday's close. In contrast, the pound is worth USD1.208 from USD1.2104 on Wednesday evening.

Among commodities, Brent crude is worth USD83.66 per barrel from USD81.70 per barrel on Wednesday evening. Gold, on the other hand, trades at USD1,814.63 an ounce from USD1,816.65 an ounce Wednesday evening.

On Thursday afternoon's macro calendar, from the U.S., focus on quarterly GDP and PCE, the Federal Reserve's preferred indicator for measuring inflation, coming in at 1430 CET, while data on natural gas inventories will arrive at 1630 CET.

On the bond front, there will be auctions of four- and eight-week T-Notes at 1730 CET and five-year TIPS at 1900 CET.

By Chiara Bruschi, Alliance News reporter

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