(Alliance News) - The Mib index rose for the fourth consecutive session on Thursday, trading at a more than one-year high in the 27,770-point area, in line with its European peers. Market sentiment has been buoyed by optimism about corporate earnings, while recent macro data, mixed in direction, make it difficult to guess the next moves by central banks.

Meanwhile, the ECB-through its number one Christine Lagarde-attempted to provide clarity, anticipating that the central bank will proceed with a further rate hike of 50 basis points and then "assess the next path."

On Eccles Building, in the CME Group platform's FedWatch Tool -- using futures also based on the actual federal funds rate, or EFFR -- the main rate hike for the March 22 meeting has a 91 percent probability of a hike in the 475/500 bps range. In contrast, the probability of an increase in the 500/525 bps area is at 9%. The current target is between 450 and 475 bps.

Thus, the FTSE Mib, is in the green by 0.9 percent at 27,775.89.

In Europe, Paris' CAC 40 is up 1.2 percent, London's FTSE 100 is in the green by 0.3 percent, and Frankfurt's DAX 40 is up 0.7 percent.

Among the smaller lists, the Mid-Cap is in the green 0.1 percent to 44,827.22 while the Small-Cap is up 0.3 percent to 30,427.07 and Italy Growth is up 0.3 percent to 9,699.77.

On the main list of Piazza Affari, Tenaris remains on top with a 7.3 percent rise after announcing record results for 2022 on Wednesday evening. As of Dec. 31, 2022, Tenaris reported last quarter net sales of USD3.62 billion, up 76 percent from USD2.06 billion in the fourth quarter of 2021.

Growing by triple digits, meanwhile, was net income, which rose to USD803 million in the last quarter of the year, 139% higher than the same period in 2021.

Net income for the 12 months amounted to USD2.55 billion, "and reached a record level," as the company explained in a note, up 142 percent on USD1.05 billion in the year 2021.

Pirelli follows, up 4.7 percent to EUR5.01 per share and heading for a fourth session to end on the bullish side.

Plans are also high for Saipem, which moves ahead 2.1 percent after losing 2.4 percent on the eve.

Interpump Group, on the other hand, is down 0.2 percent The company approved its interim report for the year ended December 31, which closed with consolidated net income for the period at EUR269.6 million from EUR198.5 million, up nearly 36 percent. Net sales for the year totaled EUR2.07 billion, up 30 percent on the previous year.

On the Mid-Cap, Banca Monte dei Paschi di Siena moves ahead 5.0%, after reporting Thursday that rating agency Moody's Investors Service upgraded the bank's ratings by 2 notches, raising the standalone Baseline Credit Assessment to "b1" from "b3," the long-term deposit rating to "Ba2" from "B1," and the subordinated debt rating to "B2" from "Caa1." The long-term senior unsecured debt rating was upgraded by 3 notches to "B1" from "Caa1."

Seco, on the other hand, rises 1.8 percent to EUR5.60, in the red by 0.2 percent.

Webuild -- in the green by 0.4 percent -- reported Thursday that Clough's creditors' meeting, held on February 15, 2023 in Australia, approved the proposed acquisition of Clough's assets by the group and that as of February 16, 2023, the company thus assumes management and control of Clough's business in Australia and Papua New Guinea.

Anima Holding, on the other hand, marks a 0.7 percent red. Mediobanca announced Wednesday morning that it had concluded on behalf of FSI the purchase of 25.0 million ordinary shares of Anima Holding in a "reverse accelerated bookbuilding" procedure. The total consideration, based on a price per share of EUR4.35, is equivalent to a EUR108.7 million outlay for the strategic fund.

On the Small-Cap, Eems moves ahead 6.2 percent to EUR0.0446, heading for the third bullish session.

Bioera, on the other hand, proceeds in the green by 5.0% to EUR0.3260, reversing course after five bearish sessions.

Sabaf -- down 0.5 percent -- on Tuesday approved results as of December 31, 2022, reporting a 3.9 percent drop in revenues to EUR253.1 million from EUR263.3 million a year earlier. Net income for the period was EUR15.7 million, down 34 percent from EUR23.9 million in FY2021.

Among the SMBs, Alfonsino - on volatility auction at EUR1.1960 - after announcing a partnership with Beintoo, a data company of the Mediaset group, operating in digital advertising and data-driven marketing.

Frendy Energy on the other hand rises 6.7 percent bringing its price to EUR0.2560.

Leone Film Group, on the other hand, is down 1.8 percent after announcing Thursday that it reported revenues of EUR55.8 million in 2022, down 43 percent from EUR98.6 million in 2021. This decrease, the company explained, was mainly due to a reduction in the year in revenues from international executive productions and the fact that many of the year's major series productions will be delivered in 2023.

Also hurting was GEL, down 1.1 percent after announcing on Wednesday that turnover as of December 31, 2022, was approximately EUR17.2 million, down 7.5 percent from the figure as of 2021, when it amounted to EUR18.6 million.

In New York--on European night--the Dow closed in the green by 0.1 percent, the Nasdaq closed up 0.9 percent, and the S&P 500 finished in the green by 0.3 percent.

Among currencies, the euro changed hands at USD1.0711 versus USD1.0677 at Wednesday's close. In contrast, the pound is worth USD1.2060 from USD1.2019 on Wednesday evening.

Among commodities, Brent crude is worth USD84.89 per barrel versus USD84.11 per barrel on Wednesday evening. Gold, on the other hand, trades at USD1,838.34 an ounce from USD1,831.95 an ounce at Wednesday's close.

On Thursday's economic calendar, the U.S. main producer price index and initial claims for unemployment benefits will be released at 1430 CET.

By Maurizio Carta, Alliance News reporter

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