(Alliance News) - Major European stock markets open in positive territory, with Piazza Affari trailing all on Thursday before an eventful lunch break amid announcements of monetary policy decisions to come from the European Central Bank and the Bank of England.

"The ECB is expected to raise interest rates by 50bp today-it's almost a certainty, given that ECB chief Christine Lagarde promised a series of 50bp hikes to fight inflation in her last press conference. But since then, inflation in Europe has fallen to 8.5 percent and the growth outlook has improved. So, the options are two: either Lagarde will maintain the euro rally, standing firm on her promise to make a couple of further 50bp hikes in the next few meetings, or she will soften her tone. I think she will remain firm and cautious," commented Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

"Although yesterday's data showed that overall Eurozone inflation fell to 8.5 percent and core inflation to 5.2 percent in December, data from other countries showed that it could suddenly reverse course and the Chinese reopening could be an important catalyst. Across the Channel, a 50 bp hike by the BoE is expected, and if so, it will be a dovish one. On the one hand, double-digit inflation continues to weigh on the British economy and people's lives. According to the latest data, food inflation in Britain reached the mind-boggling level of about 17 percent in the four weeks to Jan. 22. On the other hand, rising rates are affecting the British housing market. House prices have never fallen like this since the 2008 subprime crisis."

Thus, the FTSE Mib is in the green 1.1 percent to 27,004.92, the Mid-Cap is up 1.0 percent to 44,431.60, the Small-Cap is in the green 0.6 percent to 29,868.56, while Italy Growth rises 0.1 percent to 9,507.81.

In Europe, Paris' CAC 40 rises 0.7 percent, London's FTSE 100 gains 0.6 percent while Frankfurt's DAX 40 is in the green by 0.8 percent.

On the main list in Piazza Affari Telecom Italia rises, marking a gain of more than 11 percent. The company announced before the opening on Thursday that it had received a non-binding offer from KKR to buy a stake in a constituent company coinciding with the management and infrastructure perimeter of the fixed-line network, including FiberCop's assets and activities, as well as the stake in Sparkle, so-called Netco.

The non-binding offer refers to a shareholding to be defined, on the understanding that the purchase would result in the loss of vertical integration with respect to TIM.

STMicroelectronics follows, in the green by 2.9 percent. On the stock it is reported that Berenberg has raised its target price for STM to EUR45.00 from EUR37.00 with a 'hold' recommendation.

Banks go down, with FinecoBank in the red by 0.6 percent, BPER Banca down 0.5 percent, and Banca Generali trades down 0.4 percent.

Holding up, however, is UniCredit, up 1.2 percent. The bank yesterday announced a profit for the year 2022 excluding Russia at EUR5.4 billion from EUR3.3 billion in the previous year, "the best result in more than a decade," as pointed out by CEO, Andrea Orcel.

However, at the bottom sits the oil sector with Tenaris doing worst of all in the red by 1.5 percent, anticipated by Eni down 0.8 percent and Saipem down 0.7 percent.

On the Mid-Cap, Industrie De Nora - in the green by 2.7 percent - reported Thursday that it reviewed preliminary data as of December 31, letting it know that it reported consolidated revenues of more than EUR850 million from EUR615.9 million in 2021 and marking a 38 percent increase.

Adjusted Ebitda is expected at over EUR190 million from EUR126.7 million in the same period last year and up 50 percent.

Credito Emiliano gives up 0.1 percent. As this week's Evaluation.it analysis by Claudio Guerrini on Credem's stock reveals, it "shows a higher riskiness than the market, with a beta greater than 1, due to its presence in the financial sector and exposure to market trends."

doValue rises 1.1 percent, after reporting Wednesday that the senior Class A securities of the securitization carried out through the special purpose vehicle Fino 1 Securitization Srl have been repaid. This was possible "thanks to the excellent recovery performance of the loans underlying the securitization realized through Fino 1 Securitization, under which the GACS guarantee was granted by the Ministry of Economy and Finance," the company explained.

On Small-Cap, Bologna's Aeroporto Guglielmo Marconi -- up 2.0 percent -- announced Thursday the consolidation of its partnership with Ryanair, which began in 2008 and was strengthened in 2016, and is now confirmed with a six-year agreement.

"Bologna Airport and Ryanair confirm full agreement, within the framework of their respective development objectives, in order to ensure the maintenance of an articulated and varied network of connections within the areas served by the carrier and ensure network development in line with capacity and in coherence with the Marconi's infrastructure development projects," the company explained in a note.

Among the bearers is Netweek, which sits at the bottom, in the red by 5.4 percent. Also hurting is Compagnia Immobiliare Azionaria, down 4.6 percent. ePrice closes the worst podium with a 4.1 percent drop to EUR0.01 per share.

Among SMEs, Spindox - not yet affected by trading - reported Wednesday the opening of its new Stackhouse factory in Palermo, strengthening its presence in southern Italy.

Convergence rises 1.6 percent. The company reported Tuesday that it ended 2022 with revenues of EUR28.2 million, up 53 percent from EUR18.4 million a year earlier.

ReeVo - up 1.8 percent - announced Wednesday that with the Temporary Grouping of Companies in which it participates together with IBM Italy, through the ITALIT business network, it has signed the framework contract for the provision of cloud application services and demand and PMO services, for central public administrations.

Digital Value gives up 0.1 percent, after reporting Tuesday that it ended 2022 with revenues of EUR706.9 million, up 18 percent or EUR109.4 million from the previous year. The figure was 1.4 percent above the market consensus of EUR697.2 million "and confirms the country's strong focus on investments in digitization and ICT infrastructure efficiency," as the company explained.

In Asia, the Nikkei closed Thursday up 0.2 percent to 27,402.05, the Shanghai Composite rose slightly to 3,285.67 and the Hang Seng fell 0.5 percent to 21,958.36.

In New York on Wednesday, the Dow closed just above par at 34,092.96, the Nasdaq rose 2.0 percent to 11,816.32 while the S&P 500 gained 1.1 percent to 4,119.21.

Among currencies, the euro changed hands at USD1.1006 versus USD1.0918 at Wednesday's close. In contrast, the pound is worth USD1.2383 from USD1.2302 last night.

Among commodities, Brent crude is worth USD83.16 per barrel versus USD85.07 per barrel Wednesday night. Gold, meanwhile, trades at USD1,973.35 an ounce from USD1,924.75 an ounce last session.

On Thursday's macroeconomic calendar, the Bank of England's decision on the main rate is due at 1300 CET. At 1415 CET, on the other hand, it will be the ECB's rate decision, with the press conference of its president, Christine Lagarde, taking place half an hour later.

From the US, at 1600 CET the durable goods report, while at 1730 CET the 4- and 8-week Treasury bond auctions are scheduled.

Among companies, results from CNH Industrial and Ferrari are expected.

By Claudia Cavaliere, Alliance News senior reporter

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