(Alliance News) - Major European stock exchanges open just above par on Thursday after momentum in the U.S. and Asian markets.

Markets are attempting "a last-ditch effort at a Santa Claus rally with Wall Street closing significantly higher last night. Better-than-expected U.S. corporate earnings helped spur a rebound in risk appetite which, combined with lighter-than-normal volumes during the holiday season, led the U.S. averages to record their best session since November and the Hang Seng to exceed 2.5 percent," commented Victoria Scholar, Head of Investment at interactive investor.

The FTSE Mib, therefore, opens up 0.2 percent at 24,153.98.

London's FTSE 100 rises 0.4 percent to 7,530.20, Paris' CAC 40 opens up 0.3 percent to 6,601.82 as does Frankfurt's DAX 40 at 14,143.32.

On the macro front, the Office for National Statistics reported this morning that the British economy contracted by 0.3 percent in the three months to September 2022, slightly more than a preliminary estimate of a 0.2 percent decline.

The ONS said the figures put Britain last in the G7 nations in terms of quarterly economic growth.

Among the smaller Piazza Affari listings, the Mid-Cap rises 0.3% to 39,618.34 as does the Small-Cap, to 27,779.62, while Italy Growth rises 0.2% to 9,252.72.

On the Mib, best of all does Hera, which opens up 1.5% while Telecom Italia beats everyone in terms of pieces traded-over 14 million within the first hour of opening-and a 1.1% rise.

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. Vivendi, Telecom's largest shareholder with 24%, and Cassa Depositi e Prestiti have already sat at the table.

A new meeting is scheduled for today, devoted more specifically to the issue of the network and the integration between Open Fiber and the Telecom network.

Oil and banking stocks, which have been alternating at the top in recent days, follow: Intesa Sanpaolo and Saipem open up 0.3 percent, Eni up 0.7 percent, Tenaris up 0.7 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 0.3 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 is up 0.1 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 2.1 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.

It also announced yesterday that its subsidiary Tecnimont Spa has been 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 0.8 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 opens up 0.5 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, the shares held by the company and its subsidiaries at any time must not exceed a total of 10 percent of the share capital.

At the top is Juventus FC, up 2.4 percent.

Among small-cap companies, LVenture Group opens in a tie 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 confirmed 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 opens in the red by 0.2%. The company announced that its subsidiary FerrovieNord and Regione Lombardia, 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 9.2 percent

Somec opens in the green by 1.9 percent. The company disclosed Tuesday that it has signed a binding preliminary agreement to acquire a 60 percent stake in 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 of Piazza Affari, Visibilia Editore is at the top, up 11 percent and 26,500 pieces traded.

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 share capital increase, reserved for it, for a nominal EUR20,850 and with a premium of EUR479,150.

Publishing company Il Fatto opens flat after announcing on Wednesday, following up on what was announced on Nov. 28 on the occasion of the approval of the company's 2023-2025 business plan, that it has entered into the deed of transfer of the "Loft Produzioni" business unit, which deals with television production, to Loft Produzioni, a wholly owned subsidiary of SEIF and incorporated on Dec. 14, 2022.

The transferred business unit consists of 14 employees and had revenues of EUR1.3 million as of June 30, 2022. The transfer of the business unit will take effect on December 30, 2022.

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 USD1.0633 versus USD1.0610 at Wednesday's close. In contrast, the pound is worth USD1.2114 from USD1.2104 on Wednesday evening.

Among commodities, Brent crude is worth USD82.71 per barrel from USD81.70 per barrel on Wednesday evening. Gold, meanwhile, trades at USD1,817.26 an ounce from USD1,816.65 an ounce on Wednesday evening.

On Thursday's macro calendar, eyes on the non-EU trade balance at 1200 CET.

From the US, focus on quarterly GDP and PCE, the Federal Reserve's preferred indicator for measuring inflation, coming at 1430 CET, while data on natural gas inventories will come 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.

Among the companies in the Square of Business, no particular events are planned.

By Chiara Bruschi, Alliance News reporter

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