(Alliance News) - The Mib advances in the fourth session of the week, with the financing community waiting for the ECB to cut its three benchmark interest rates by 25 bp at its early afternoon meeting.

This would be the first reduction in these three borrowing costs since 2016 due to a significant slowdown in inflation. Traders will also closely monitor any hints of future rate cuts beyond June, especially after inflation accelerated to 2.6 percent in May and with stronger-than-expected economic and wage growth.

Markets currently expect another 25 percentage point cut, potentially in September or December.

The FTSE Mib is advancing 0.4 percent to 34,642.28, the Mid-Cap is up 0.3 percent to 48,079.44, the Small-Cap is gaining 0.4 percent to 29,539.06 while Italy Growth is marking a marginal green at 8,210.17.

In Europe, London's FTSE 100 is up 0.3 percent, Paris' CAC 40 is up 0.4 percent, and Frankfurt's DAX 40 is up 0.7 percent.

On the Mib, Iveco Group is advancing 5.8 percent to EUR11.88 per share. Leonardo -- down 0.4% -- is reportedly preparing a bid to create Iveco Defence Vehicles, a made-in-Italy hub for military vehicles, by considering the acquisition of Iveco Group's asset.

According to reports in Corriere della Sera on Thursday, Leonardo has called a number of international investment banks, including UBS, to study the purchase of Iveco Defence Vehicles, an Iveco Group company that produces armored vehicles, tanks and other combat vehicles.

The company also announced Tuesday that the Iveco brand has signed a memorandum of understanding with Foton, a leading commercial vehicle manufacturer in China, to explore potential collaboration in the areas of electric vehicles and components, and joint business opportunities, for Europe and South America.

FinecoBank -- up 2.5 percent -- reported Thursday that it recorded net inflows of EUR946 million in May. The figure brings total inflows since the beginning of the year to EUR4.0 billion. In detail, assets under management weighed EUR364 million in May and EUR1.0 billion in the first five months.

Campari, meanwhile, advances 1.3 percent to EUR9.60 per share, in its fifth bullish session.

Among the bearish, list minority, the tail end is for Poste Italiane, which trades minus 1.8 percent, after a 1.3 percent green in the previous session.

On the Mid-Cap, Technoprobe gains 3.4 percent with price at EUR9.71 per share. Berenberg raised its target price to EUR7.50 from EUR7.10, with a 'hold' recommendation.

LU-VE, on the other hand, appreciates by 2.7 percent with new price at EUR25.00 per share, following up on the 1.0 percent green on eve.

Fincantieri also does well -- up 1.6% -- after a German newspaper reported an attempt to take over TKMS, thyssenkrupp's marine systems asset.

Alerion, on the other hand, is giving up 1.0 percent to EUR18.40 per share, after a 1.4 percent green light on the eve.

Among smallcaps, boost on Tessellis, which is up more than 13%, following up from 0.8% green on eve.

Aedes, meanwhile, advances 6.4 percent, following the double-digit rise with which it closed eve.

Compagnia Immobiliare Azionaria rises 3.6 percent, following 6.7 percent red on eve.

Netweek sits at the bottom, giving up 6.7% with price at EUR0.0432.

Giglio Group, on the other hand, gives up 0.5 percent. The latter reported that it closed 2023 with a net loss of EUR3.9 million, which compares with net income of EUR900,000 in the previous year. As reported by the company, the merger of E-commerce Outsourcing into Giglio Group weighed heavily. The situation of more than one-third decrease in capital due to losses related to fiscal years 2020 and 2021 remains. The company's revenues increased to EUR21.3 million from EUR19.7 million in 2022, in this case helped by the integration of E-commerce Outsourcing.

Among SMEs, Emma Villas is up 5.4 percent, heading for its fourth bearish session.

Compagnia dei Caraibi, on the other hand, is up 3.7 percent, rearing its head after two sessions closed among the bearish.

At the tail end, Impianti is giving up 7.8 percent, repricing in the 0.36 per share area. The stock since the beginning of 2024 marks a red of nearly 29 percent.

In New York at Wednesday's close, the Dow gained 0.3 percent to 38,807.33, the Nasdaq rose 2.0 percent to 17,187.90, and the S&P 500 was up 1.2 percent to 5,354.03.

Among currencies, the euro changed hands at USD1.0882 from USD1.0869 on Wednesday in closing European equities while the pound was worth USD1.2796 from USD1.2776 last night.

Among commodities, Brent crude is trading at USD78.82 per barrel from USD77.96 per barrel at Wednesday's close. Gold, on the other hand, trades at USD2,367.37 an ounce from USD2,356.07 on Wednesday evening.

Thursday's macroeconomic calendar includes-as anticipated-at 1415 CEST, the ECB's announcement on interest rates, with the usual press conference 30 minutes later.

From the U.S., at 1430 CEST, the unemployment claims data is due, while at 2230 CEST, the Federal Reserve's weekly balance sheet will be released.

By Maurizio Carta, Alliance News reporter

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