(Alliance News) - European stock markets -- according to the futures market -- are headed for an upward opening Thursday as investors await several corporate reports that could further fuel the ongoing market rally.

On the international political front, U.S. President Donald Trump accused Ukraine of starting the war with Russia, attacking Kiev's head of state, Volodymyr Zelensky, saying he "could have reached an agreement earlier" with Moscow.

The tycoon harshly attacked the Ukrainian president, calling him a "never-elected dictator" and a "mediocre comedian" who managed to get hundreds of billions from the U.S. for "a war he was never going to win."

Thus, the FTSE Mib-after closing down 0.5 percent at 38,348.16 last night-is marking a gain of 170.00 points.

London's FTSE 100 is picking up 16.90 points, Paris' CAC 40 is advancing 39.70 points, and Frankfurt's DAX 40 is advancing 88.80 points.

Among the smaller listings on Wednesday, the Mid-Cap closed 0.8 percent in the red at 50,742.60, the Small-Cap rose 0.5 percent to 29,639.14, while Italy Growth ended 0.3 percent in the red at 7,816.33.

Returning to Milan, STMicroelectronics closed bullish by 7.9 percent at EUR24.95 per share last night on the highest-capitalization list in Piazza Affari. On the stock it is reported that Jefferies upgraded the stock to 'buy' from 'hold' and raised the target price to EUR34.00 from EUR23.00. Analysts expect growth to accelerate from the second half of 2025, driven by normalization of the post-inventory correction, an estimated USD3 increase in iPhone 17 content due to metasurface-based solutions, and a recovery in industrial demand. Additional structural drivers include Edge AI, LEO satellites, silicon photonics, and automotive MCUs.

Leonardo, on the other hand, advanced 2.6 percent to EUR35.70. The stock - on the eve of the release of its accounts - closed higher for the fifth consecutive session, updating its 52-week high during the session.

UniCredit - in the red by 1.1 percent - announced Wednesday a strategic partnership with Quant>ICO Investment Club Opportunities Srl, an "independent club deal company that was created with the aim of offering selected investors privileged access to investment opportunities in medium-sized Italian companies with high potential," the bank points out.

Eni's buyback program continues, with the stock giving up 0.3 percent today. The company last reported Wednesday that it bought back 3.6 million of its own ordinary shares between February 10 and 14, for a total value of EUR50.0 million.

Recordati, on the other hand, fell 6.8 percent. Of note, Rossini Sàrl announced on Wednesday that it had completed the sale of approximately 10.5 million shares in Recordati Spa, equivalent to 5.0% of its share capital, through an accelerated bookbuilding procedure. The sale price was set at EUR55.70 per share, for a total of about EUR585 million.

Buzzi, on the other hand, gave up 3.4 percent to EUR44.34 per share, after the 1.2 percent green in the previous session.

On the Mid-Cap, boost on GVS, which moved ahead 5.6 percent to EUR4.89 per share, in its third bullish session.

Fincantieri closed in the green by 3.3 percent at EUR8.90. Analysts at Intesa Sanpaolo raised Fincantieri's target price to EUR10.20 from EUR5.60 previously, upgrading the rating to 'buy' from 'hold,' reassessing the company's potential in the cruise and shipbuilding sectors. As Intesa explains, the cruise ship market, hit hard by the pandemic, is recovering and accelerating, both in terms of volumes and prices. This scenario makes itself favorable for Fincantieri. In particular, the company can benefit from the growth of defense spending in the U.S. and the need to renew the European naval fleet.

OVS--in the red by 1.7 percent--reported Wednesday that the extraordinary shareholders' meeting approved the cancellation of about 29.1 million treasury shares, equivalent to 10 percent of its share capital. The meeting also gave the board of directors the authority to cancel up to 16 million shares, or 5.5 percent of the share capital, within 12 months, including through several tranches.

Sanlorenzo, meanwhile, gives up 3.5 percent to EUR33.00 per share, in its fifth bearish session.

On the Small-Cap, Gabetti advanced 8.6 percent to EUR0.7340, after the previous session's 5.3 percent red.

Immsi--up 2.6 percent--reported Wednesday that EDGE, holding company of Abu Dhabi Ship Building, and Intermarine--of the Immsi Group--signed a Memorandum of Understanding at the International Defense Exhibition and Conference event.

Industrie De Nora closed as the best on the list with a 15 percent rise. It reported Tuesday preliminary consolidated results for fiscal year 2024, which closed with revenues of EUR862.6 million, up 0.7 percent from EUR856.4 million in 2023, and up 2.6 percent at constant exchange rates.

Somec, on the other hand, gave up 5.1 percent to EUR12.05 per share, subject to profit-taking after six sessions closed with a bullish candle.

Among SMEs, Edgelab advanced 8.5 percent, in its fifth bullish session.

FOS, on the other hand, rallied 4.5 percent, on its third session in surplus.

Estrima closed down more than 24 percent, the subject of profit-taking after four sessions of significant gains. The company approved the binding proposal received from Zetronic, a mechatronics company operating specifically in the industrial supply segment for the automotive market, with exclusivity reserved in favor of Zetronic until March 31, 2025.

ATON Green Storage, on the other hand, left over 14 percent on the parterre after 0.7 percent on the eve of the day, setting the price in the EUR2.38 area.

In New York, the Dow rallied 0.2%, the Nasdaq rose 0.1%, and the S&P 500 closed up 0.2%.

In Asia, the Nikkei closed 1.2% in the red, the Hang is giving up 1.5%, and the Shanghai Composite closed just below par.

Among currencies, the euro changed hands at USD1.0427 versus USD1.0411 in Wednesday's European stock close. In contrast, the pound is worth USD1.2594 from USD1.2578 on Wednesday evening.

Among commodities, Brent crude is worth USD76.15 per barrel from USD76.46 per barrel at Wednesday's European stock close. Gold trades at USD2,948.39 an ounce from USD2,924.32 an ounce last night.

On Thursday's economic calendar, at 1100 CET from the Eurozone it will be the turn of the construction output data.

In the afternoon, from the U.S., at 1430 CET it will be the turn of the unemployment claims report, at 1800 CET the crude oil stocks figure, the EIA report and the Cushing inventory. Also speaking during the European evening will be Fed members Jefferson, Barr and Kugler.

At 2230 CET, the Federal Reserve's weekly balance sheet will be available instead.

Among the companies, the accounts of Alfonsino, Altea Green Power, A2A, Laboratorio Farmaceutivo Erfo, Leonardo and Pozzi Milano are expected.

By Maurizio Carta, Alliance News reporter

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