(Alliance News) - European stock markets attempted to recover Thursday after fears of a banking crisis in Europe subsided in light of Credit Suisse saying it would borrow up to USD54 billion from the Swiss bank under a covered loan facility and a short-term liquidity facility.

Investors are now awaiting the European Central Bank's policy decision, in which it is expected to raise interest rates by 50 basis points hyper continue the path of fighting inflation.

On the domestic side, in Italy, for February, Istat estimates that the national consumer price index rose 0.2 percent month-on-month and 9.1 percent year-on-year, up from 10 percent in the previous month and down from the preliminary estimate of 9.2 percent.

The FTSE Mib, marks a 0.6 percent rise to 25,716.34.

Among the smaller lists, the Mid-Cap is up 0.6 percent to 41,893.61, the Small-Cap is up with 0.4 percent to 29,472.09, and Italy Growth is in the green 0.3 percent to 9,241.42.

Paris' CAC 40 is advancing with 0.9 percent, London's FTSE 100 is up 1.2 percent, and Frankfurt's DAX 40 is up with 0.7 percent.

On the main list in Piazza Affari, the banking sector rebounds after heavy selling on the eve of trading. Unicredit advances 2.4 percent, Intesa Sanpaolo rises 1.2 percent, while BPER Banca advances 0.5 percent.

Snam's board of directors -- up 0.6 percent -- unanimously approved the consolidated and draft operating budget for 2022 reporting adjusted net income of EUR1.16 billion, down 4.5 percent from EUR1.21 billion in 2021, due to lower operating income, offset by the positive performance of investee companies. In addition, the board resolved to propose to the shareholders' meeting the distribution of a dividend of EUR0.2751 per share, of which EUR0.1100 per share has already been distributed as an interim dividend in January 2023.

Saipem, on the other hand, takes the lead on the list, marking a green of 2.6 percent to EUR1.1695 per share after a 9.9 percent decline on the eve of the meeting.

On a negative note, Terna is giving up 0.8 percent after four sessions ended higher.

On the Mid-Cap, bullish trend for Brunello Cucinelli, after accounts released on eve, advancing 5.4%. The board of directors approved the 2022 consolidated financial statements and the draft 2022 operating budget, reporting a profit of EUR87.2 million, up 55 percent from EUR56.3 million in 2021. The board also proposed a dividend of EUR0.65 per share from EUR0.42 in 2021, with a 50% pay-out.

Green on banking, with Monte dei Paschi advancing 0.9 percent, while Banca Popolare di Sondrio scores a plus 1.6 percent.

Zignago Vetro -- up 1.9 percent -- announced Wednesday that it had approved the financial statements for the year ended Dec. 31, 2022, having reported a group net profit of EUR86.6 million from EUR60.0 million in the same period last year, up 44 percent. The board of directors resolved to propose to the shareholders' meeting the distribution of a dividend of EUR0.60 for each of the 88.7 million outstanding shares, up from EUR0.40 paid last year.

Among the few bearish performers, WIIT gives up 3.8 percent with price at EUR19.25, reversing the trend after four bullish sessions.

The board of directors of MutuiOnline Group - up 4.9 percent - on Wednesday evening approved the consolidated financial statements as of December 31, 2022, which closed with a net profit that shows a 167 percent increase in the year ending December 31, 2022, from EUR17.8 million in FY2021 to EUR47.5 million in FY2022. The board also proposed the distribution of a dividend of EUR0.12 per share from EUR0.42 in the previous fiscal year.

On the Small-Cap, Esprinet advances 5.8 percent to EUR8.07. The board of Esprinet Spa on Tuesday approved the consolidated financial statements as of December 31, 2022, which closed with a net profit of EUR47.3 million, up 7 percent from EUR44.1 million in 2021. The board resolved to propose to the shareholders' meeting to distribute a dividend of EUR0.54 per share, unchanged from those paid in 2022 and 2021.

Eurotech also did well after the release of its accounts, which showed a reduction in loss to EUR1.5 million from EUR10.4 million as of December 31, 2021. The stock rises 3.8 percent.

Servizi Italia advances 3.2 percent. The company reported Tuesday that it closed 2022 with revenues up to EUR270.3 million from EUR256.7 million. Net income rose to EUR3.4 million from EUR7.2 million a year earlier.

Among SMEs, Digital360 advances 2.4 percent to EUR5.04 per share.

Cyberoo, on the other hand, rises 4.8 percent after a 3.8 percent loss in the eve.

Redelfi's board of directors - up 1.5 percent - approved the consolidated financial statements and draft operating budget as of December 31, 2022 reporting a consolidated net income of EUR270,000 down from EUR3.5 million in 2021.

At the tail end, Farmaé gives up 4.5 percent, with price at EUR10.98 and following up eve's loss with 5.1 percent.

In New York on European night, the Dow closed 0.9% in the red, the Nasdaq up 0.1%, and the S&P 500 left 0.7% on the parterre.

Among currencies, the euro changed hands at USD1.0617 against USD1.0538 at yesterday's close. In contrast, the pound is worth USD1.2080 from USD1.2019 on Wednesday evening.

Among commodities, Brent crude is worth USD74.36 per barrel versus USD72.52 per barrel last night. Gold, on the other hand, trades at USD1,919.53 an ounce from USD1,935.88 an ounce at Wednesday's close.

On Thursday's economic calendar, at 1330 CET, initial claims for unemployment benefits arrive from the US.

At 1415 CET, it's time for the ECB rate decision, with the press conference at 1445 CET. At 1630 CET, comes the auction of 4- and 8-week Treasury bonds.

On Thursday's corporate calendar, results from Aquafil, Arnoldo Mondadori, A2A, Enel, Eni, Salcef, and Webuild are expected.

By Maurizio Carta, Alliance News reporter

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