(Alliance News) - Thursday morning IG futures forecast an upward opening for all major European exchanges in the aftermath of the release of Fed minutes and ahead of the release of U.S. inflation data this afternoon.

"Last night's Fed minutes did not trigger much of a market reaction, other than to push U.S. 10-year yields slightly further off the day's lows," commented Michael Hewson, Chief Market Analyst at CMC Markets. "The key point in the minutes would seem to suggest that policymakers are probably moving toward a pause and that rates should remain restrictive for quite some time.

Meanwhile, the analyst adds, "even though we have heard from several Fed officials this week that they believe rates are approaching restrictive territory, that does not mean we are out of the woods yet on the prospect of higher yields. Recent economic data would seem to suggest that a further rate hike could occur before the end of the year, especially since the headline consumer price index has started to rise again, although it is also noteworthy that the core consumer price index has continued to fall."

The FTSE Mib, therefore, is expected to rise 180.0 points or 0.6 percent, after closing up 0.4 percent at 28,419.06.

In Europe, London's FTSE 100 is expected to be in the green by 34.7 points or 0.5 percent, Paris' CAC 40 is given up 33.8 points or 0.5 percent, and Frankfurt's DAX 40 is expected up 75.5 points or 0.5 percent.

Also of note, Asian market sentiment Thursday was lifted by news regarding China's Central Huijin Investment -- a USD1.4 trillion branch of China Investment Corp -- buying USD65 million worth of shares in the country's banking giants.

Analysts said the purchase of stakes in Bank of China, Agricultural Bank of China, China Construction Bank and Industrial and Commercial Bank of China was aimed at strengthening sentiment in mainland markets, which have been hit by concerns over the stuttering economy.

Among Italy's minor listings last night, the Mid-Cap gave up 0.3 percent to 39,423.63, the Small-Cap closed in the green 0.4 percent to 25,560.84, and the Italy Growth ended in the red 0.3 percent to 8,053.25.

On the main list of the Italian Stock Exchange, strength on Banca Monte dei Paschi stock, which rose 5.7 percent on the heels of eve's green, albeit by a more modest 0.5 percent. Of note, Marshall Wace raised its short on the stock to 0.96 percent from 0.86 percent.

At the highs was Iveco, up 3.1 percent, on the heels of the eve's close with a plus 3.2 percent.

Strength also on Saipem, which moved ahead 1.6% with new price at EUR1.4960. Of note, on the stock Jefferies raised its target price to EUR2.20 from EUR1.80 with 'buy' recommendation.

Also doing well was BPER Banca, which closed up 2.8 percent to EUR2.96, continuing upward after the green on the eve closed with a plus 3.7 percent.

Azimut Holding advanced 0.3 percent, after a 1.1 percent gain on eve. The company Tuesday reported positive net inflows of EUR247 million in September, reaching EUR5.0 billion since the beginning of the year and with a full-year 2023 target of EUR6-8 billion, of which 60 percent or EUR3 billion was directed into asset management products.

DiaSorin, on the other hand, retreated 3.4 percent, after 3.2 percent assets in the previous session.

Campari, on the other hand, retreated 2.5 percent, which succeeds the 2.3 percent assets with which it closed the previous session.

On the cadet segment, Antares finished up 4.2%, bringing its price to EUR2.99, rearing its head after a long bearish trend.

Banca Ifis, on the other hand, took home a plus 1.9 percent with new price at EUR16.79. The stock during the session touched a new 52-week high at EUR16.96.

Maire Tecnimont did well, posting a plus 2.9 percent. Of note, Fosse Capital Partners cut its short position on the stock to 0.7 percent from 0.95 percent previously.

At the back of the pack was Ariston Holding, however, which gave up 3.2% to EUR5.98 per share after last night's 4.6% gain.

Seco, on the other hand, gave up 4.3 percent after a 1.4 percent gain on the eve of the day. The stock had previously come from four bearish sessions.

On the Small-Cap, Restart advanced 4.8%, rebounding after two bearish sessions in which it left over 12% on the sidelines.

Immsi, on the other hand, advanced 3.8 percent to EUR0.4620 per share, following a 1.7 percent gain in the previous session.

doValue closed up 0.8 percent. The company announced Monday that it will start with a 2.0 million-share buyback program. The shares, equal to 2.5 percent of the company's share capital, can be taken over by October 25, 2024, and at Friday's price of EUR3.59, the amount invested would be EUR7.2 million.

Caleffi also traded well, posting minus 3.1 percent after two sessions ended in the red.

At the tail end, Netweek posted minus 0.4 percent, in the wake of Tuesday's passive close of minus 1.1 percent.

Marked sales also on Seri Industrial, which gave up 8.5% with new price at EUR3.06 and with nearly 738,000 changed hands compared to a three-month daily average of just over 139,000.

Among SMBs, Iervolino & Lady Bacardi advanced 4.2 percent on the heels of the 1.7 percent green on eve.

Good momentum also on Clabo, which took home 6.9 percent. There is high trading volume on the stock, with more than 56,000 pieces changed hands compared to a 3-month daily average of about 19,100.

Edil San Felice - up 0.4 percent to EUR2.53 - announced Tuesday that it had completed the acquisition of all of the shares of Sogem Srl, a Campania-based company active in the restoration and maintenance of protected assets, for a total of EUR410,000.

At the tail end, High Quality Food gave up 4.8 percent, after eve's gain of 6.6 percent.

Planetel left 4.7 percent on the parterre, the subject of profit taking after two sessions in which it gathered a cumulative more than 18 percent.

In Asia, the Nikkei is up 1.7 percent, the Hang Seng rises 2.0 percent, and the Shanghai Composite advances 0.9 percent.

In New York on European night, the Dow closed up 0.2% at 33,804.87, the Nasdaq finished up 0.7% at 13,659.68, and the S&P 500 finished in the green 0.4% at 4,376.95.

Among currencies, the euro changed hands at USD1.0629 against USD1.0615 recorded in Wednesday's European equities close, while the pound was worth USD1.2318 from USD1.2303 on Wednesday evening.

Among commodities, Brent crude is worth USD85.47 per barrel from USD85.97 per barrel at Wednesday's close. Gold, meanwhile, trades at USD1,879.21 an ounce from USD1,872.96 an ounce on Wednesday evening.

Thursday's macroeconomic calendar, at 1100 CEST, features speeches by Pill and Woods of the Bank of England, while ten minutes later there will be an auction of BTPs with 3- and 7-year maturities. At 1300 CEST, however, Fabio Panetta of the ECB board will speak.

At 1430 CEST from the US it will be the turn of unemployment claims and the consumer price index. At 1700 CEST crude oil stocks and the EIA refineries report. At 1730 CEST it will be the turn of the 4- and 8-week Treasury bond auctions, while at 1900 CEST there will be a 30-year maturity auction. Finally, at the same time, FOMC member Bostic will give a speech.

No special events are scheduled in the corporate calendar.

By Chiara Bruschi, Alliance News reporter

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