(Alliance News) - Europe's major marketplaces moved tentatively bullish on Thursday, with trading desks awaiting the minutes of the European Central Bank's October meeting and PMIs for several European countries, looking for further guidance on the trajectory of monetary policy.

Earlier this week, the ECB's Mario Centeno's accommodative stance contrasted sharply with Joachim Nagel's outlook, suggesting rates near their peak, while Lagarde warned against premature optimism.

Thus, the FTSE Mib advanced 0.3 percent to the 29,234.95 area, with a call/put ratio at 1.19.

In Europe, Paris' CAC 40, Frankfurt's DAX 40 and London's FTSE 100 all advance 0.1 percent.

Among the smaller lists on Wednesday, Mid-Cap advances 0.1 percent to 41,668.71, Small-Cap is up 0.1 percent to 25,791.27 while Italy Growth is in the green 0.1 percent to 7,833.88.

On the main list of Piazza Affari, Leonardo is off to a good start, posting a green of 1.3 percent, rearing its head after two bearish sessions.

Good trades also on Saipem, which appreciates 1.2% after two sessions closed down.

Banco BPM - in the green by 0.5 percent - reported that it has successfully completed a new Social Senior Preferred issue with a four-year maturity in the amount of EUR500 million. The issue is the group's first full investment grade. Orders, amounting to more than EUR2 billion, exceeded four times the amount issued, with the participation of more than 150 investors, confirming the increasing recognition by investors in the Banco BPM name. About 90 percent of the allocated orders had an ESG connotation.

The bond was issued at a price of 99.818 percent and pays a fixed coupon of 4.625 percent. The bond, which is reserved for institutional investors, was issued under the issuer's Euro Medium Term Notes Program and has an expected rating of Baa2/BBB-/BBB (Moody's/S&P/Fitch/DBRS).

Enel trades in the red by 0.2 percent at EUR6.37. Of note, Goldman Sachs raised its target price to EUR8.45 from EUR8.35.

On the cadet segment, Caltagirone advances with 2.1 percent after a 0.5 percent decline on eve.

MFE-MediaForEurope reported Thursday that in the first nine months of the year it reported consolidated net income of EUR71.0 million from EUR78.5 million in the same period last year. As of Sept. 30, consolidated revenues stood at EUR1.86 billion, down from EUR1.90 billion in the first nine months 2022. Ebit for the period was EUR98.3 million from EUR97.6 million as of Sept. 30, 2022.Class A shares trade up 1.2 percent, while class B shares advance 3.0 percent.

Fincantieri - in the money with 0.6 percent - announced that it has signed a 10-year contract with the Armament Authority of the Ministry of Defense of the Arab Republic of Egypt for two Fremm units of In-Service Support and Integrated Logistic Support, i.e., preventive maintenance services, logistic studies and corrective maintenance on demand, worth about EUR260 million.

Salcef, on the other hand, gives up 0.2 percent. The company continuing its buyback program announced on Wednesday that it bought back its own ordinary shares -- in the period between Nov. 13 and Nov. 17 -- for a total of about EUR858,000.

On the SmallCap, BasicNet advances well, up 3.9 percent after eve's loss of 1.7 percent.

High quarters also for Aquafil, which advances 3.6% to EUR2.9%. The stock on the monthly time frame marks a surplus of more than 30%. The company presented its 2023-2025 strategic plan on Tuesday, reporting, for the period, a forecast of growth in sales volumes. However, for fiscal year 2023, in terms of volumes, a negative change of between 3 percent and 4 percent compared to the previous year is expected. Expected Ebitda for FY 2023 is in the range of EUR45-50 million while adjusted Ebitda from this effect is in the range of EUR68-70 million.

On a negative note, among others, Giglio Group gives up 4.8 percent with price at EUR0.5140 after a 1.9 percent gain in the previous session.

Cellularline - flat at EUR2.34 - on Wednesday announced that it has authorized a buyback plan for 1.0 million shares corresponding to about 4.6 percent of the share capital and for a maximum amount of EUR3 million.

Among SMEs, in a still uneventful list, Fope moves ahead 2.9 percent to EUR28.00 per share increasing assets on a weekly basis to 17 percent.

Almawave - flat at EUR3.90 - announced Wednesday that its subsidiary The Data Appeal Company has signed a binding agreement to acquire 70 percent of the share capital of Mabrian Technologies, a company based in Spain - Menorca and Barcelona - active in the development of solutions in the Travel and Destination Intelligence fields and focused on innovative data analytics and decision intelligence AI KPI's.

The deal involves The Data Appeal's purchase of 70 percent, in cash, of Mabrian's share capital. The price paid, amounting to approximately EUR3.7 million, was agreed on the basis of an enterprise value of EUR6.1 million and will be subject to adjustment on the closing date based on the final net financial position. The deal also provides for the possible recognition of an earn-out, amounting to a maximum of EUR1.5 million, upon the achievement of specific outstanding economic and financial performance, to be recognized following the approval of the 2023 financial statements.

Conversely, Convergenze gives up 3.5 percent to EUR1.9 per share, subject to profit taking after three sessions of major gains.

In New York overnight Europe, the Dow rallied 0.5 percent as did the Nasdaq, while the S&P 500 put up 0.4 percent.

Among Asian exchanges, with the Japanese stock exchange closed for holidays, the Shanghai Composite rallied 0.6 percent, while the Hang Seng advanced 1.0 percent.

Among currencies, the euro changed hands at USD1.0922 against USD1.0871 recorded at Wednesday's European stock close, while the pound was worth USD1.2527 from USD1.2463 last night.

Among commodities, Brent crude is worth USD81.32 per barrel from USD79.23 per barrel at yesterday's close. Gold, on the other hand, trades at USD1,995.20 an ounce from USD1,993.28 an ounce on Wednesday evening.

On Thursday's macroeconomic calendar is the manufacturing PMI at 1000 CET related to the Eurozone and at 1030 CET the data on the UK. At 1330 CET, on the other hand, the ECB minutes will be published.

Among companies, there are no particular appointments on the calendar.

By Maurizio Carta, Alliance News reporter

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