(Alliance News) - The bluechip index in Piazza Affari closed up just below 29,600 on Thursday, a level not seen since 2008, as trading rooms reckon with corporate results and take note, as widely expected, that the Central Bank raised interest rates by 25 basis points as expected, saying no decision has yet been made for its next meeting in September, fearing open then the options give of a pause than a hike depending on the economic scenario that will arise.

Yesterday, the Federal Reserve implemented a widely expected 25 basis point rate hike. Fed Chairman Jerome Powell insisted that the central bank will take a "data-dependent" approach in determining further increases in the future and clarified that no decision has been made to raise borrowing costs further.

As a result, the FTSE Mib closed up 2.1 percent to 29,597.81, the Mid-Cap advanced 1.6 percent to 42,749.35, the Small-Cap rose 0.8 percent to 27,007.60, and Italy Growth was up 0.2 percent to 9,086.02.

In Europe, London's FTSE 100 rallied 0.3 percent, the CAC 40 up 2.2 percent, and Frankfurt's DAX 40 was up plus 1.7 percent.

On the highest-capitalization list in Piazza Affari, STMicrolectronics closed up 9.0 percent in appreciation. The company on Thursday presented financial results for the second quarter ended July 1, reporting net revenues of USD4.33 billion from USD3.84 billion in the same period of 2022. Net income for the period amounted to USD1.00 billion which compares to USD867 million in the second quarter of 2022. Net income per share, after dilution, increases to USD1.06 from USD0.92 in the same period of 2022.

Moncler remains well placed at the top with a 6.8 percent rise after reporting Wednesday that it ended the first half of the year with a net profit of EUR145.4 million, down from EUR211.3 in the same period last year, which, however, included an extraordinary tax benefit of EUR92.3 million related to the acquisition of Stone Island. Revenues rose 24% to EUR1.14 billion from EUR918.4 million, with Moncler's up to EUR935.0 million or 29% year-on-year and Stone Island's up to EUR201.6 million or 5% year-on-year. In the second quarter alone, Moncler's revenues were up 32% and those of the subsidiary up 5%.

High quarters also for Stellantis, up 5.3 percent after announcing Wednesday that it posted net income of EUR10.92 billion in the first half of the year, up 37 percent from the first half of 2022, when it was EUR7.96 billion. Net sales for the period amounted to EUR98.37 billion, up 12 percent from EUR88.00 billion in the same period of 2022.

Prysmian -- up 4.1 percent -- on Thursday approved consolidated group results for the first half, which ended with net income attributable to parent company shareholders of EUR405 million compared to EUR259 million in the corresponding period of 2022.

Among the few bearish performers, Banca Monte dei Paschi steps back 1.2 percent to EUR2.58, after 3.6 percent green on the eve.

Also on a negative note was ERG, which posted minus 1.1% on the eve of the publication of its half-year accounts.

On the Mid-Cap, Buzzi Unicem advanced 5.6 percent to EUR26.32. The stock touched a 52-week high at EUR25.94 per share during the day.

Significant buying also on De' Longhi, which marks a green of 4.4 percent, following eve's green with 1.1 percent.

Brembo - flat at EUR13.24 - reported Thursday that it ended the first half of the year with revenues up 12 percent year-on-year to EUR1.95 billion from EUR1.75 billion in the same period a year earlier.

Piaggio & C. rallied 2.4 percent after reporting Thursday that it closed the first half with revenues of EUR1.17 billion, the highest ever for the period, up 11 percent from EUR1.05 billion in the same period a year earlier. Operating profit grew 37 percent to EUR117.6 million from EUR85.8 million and pretax profit improved 35 percent to EUR98.2 million from EUR72.9 million. The Vespa company's net income grew to EUR64.8 million from EUR45.2 million or 43%.

Tod's advanced 0.4 percent. It reported Wednesday that in the first half of the year, total sales amounted to EUR569.1 million, up 22 percent from EUR467.5 million in the same period last year. All of the group's brands posted solid double-digit revenue growth in the first half of the year.

Among the negative notes, few on the list, Ariston Holding gave up 1.3 percent after a 0.5 percent green light on the eve of the meeting.

On the SmallCap, strength on Alkemy, which took home a plus 3.3 percent to EUR10.64 per share, breaking an eight-session downtrend.

Triboo, meanwhile, advanced 4.8 percent, rearing its head after two sessions in the red.

Fiera Milano--flat at EUR2.41--reported Wednesday that it had approved its results as of June 30, having reported a net profit of EUR25.7 million from EUR5.3 million in the same period last year. In the first half, consolidated revenues amounted to EUR132.2 million from EUR116.2 million as of June 30, 2022.

Among the SMEs on the Italian stock exchange, H-Farm took home 3.2 percent, after a 5.2 percent loss on the eve of the event.

Friulchem, on the other hand, advanced 2.8 percent, after two sessions ended in the red.

Relatech advanced 3.3 percent after reporting Thursday that it ended the first half of the year with revenues up 89 percent year-on-year to EUR48 million from EUR25.4 million in the same period a year earlier. The share of recurring revenues stood at EUR18 million or so, up 112% from EUR8.6 million as of June 30, 2022, and accounted for 38% of revenues from consolidated sales. Overseas revenues are EUR13 million approximately, up 58% from the same period last year.

The board of directors of Marzocchi Pompe -- up 1.6 percent -- approved preliminary consolidated figures for the first half of the year on Wednesday, reporting consolidated net revenues of EUR26.6 million, up 4.4 percent from the first half of 2022, when they were EUR25.5 million, and up nearly 16 percent from the second half of last year.

In the red, Società Editoriale Il Fatto left 3.0 percent on the parterre, after a 4.1 percent loss on the eve of trading.

In New York, the Dow advances 0.1 percent, the Nasdaq rises 1.2 percent, and the S&P 500 is marking a 0.6 percent green.

Among currencies, the euro changes hands at USD1.0994 versus USD1.1067 in Wednesday's closing European equities while the pound is worth USD1.2866 from USD1.2924 on Wednesday evening.

Among commodities, Brent crude is worth USD84.12 per barrel versus USD83.19 per barrel at Wednesday's close. Gold, meanwhile, trades at USD1,945.00 an ounce from USD1,964.65 an ounce on Wednesday evening.

On Friday's macroeconomic calendar, at 0130 CEST the inflation figure from Japan is expected, followed at 0500 CEST by the monetary policy decision and statement. At 0730 CEST it will be the turn of inflation from Germany and at 0845 from France. At 1000 CEST it will be the turn of Italy's manufacturing inflation.

At 1100 CEST, come consumer confidence and services and industrial sentiment from the Eurozone.

At 1430 CEST, the PCE and GDP data are expected, while in the evening it will be the turn, as usual, of the COT Report.

Among companies, several half-year results are expected, including Aeffe, Caltagirone, Intesa Sanpaolo, Leonardo and Recordati.

By Maurizio Carta, Alliance News reporter

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