(Alliance News) - Piazza Affari closed higher on Thursday, in another day marked by a number of macroeconomic data that influenced trading on major European exchanges.

The consumer price inflation rate in the euro area slowed to 6.1 percent in May, down from 7.0 percent in the previous month and below market expectations of 6.3 percent, according to preliminary Eurostat estimates.

The rate reached its lowest level since February 2022, although it remained significantly above the European Central Bank's 2.0% target.

Eurozone inflation is still "too high" and the ECB will continue to raise interest rates, but at a more gradual pace, President Christine Lagarde said Thursday.

"We are getting a little bit closer to our cruising altitude, but we are not there yet, and that means we have to keep going up, but not so fast," Lagarde told a banking conference in Hanover.

U.S. job growth was strong in May while wage growth continues to slow, according to ADP numbers.

According to the human resources provider's latest tracker, U.S. private sector employment increased by 278,000 jobs in May, slowing from April's addition of 291,000 jobs, revised from the initial figure of 296,000.

The FTSE Mib closed up 2.0 percent to 26,575.69, the Mid-Cap gained 0.9 percent to 42,160.52, the Small-Cap was up 0.8 percent to 27,274.30, and Italy Growth was up 0.1 percent to 9,091.30.

In Europe, London's FTSE 100 is up 0.6 percent, Paris' CAC 40 is up 0.5 percent and Frankfurt's DAX 40 gains 1.2 percent.

On the highest-capitalization list in Piazza Affari, Recordati runs, leading the way with a 4.8 percent rise at the end of the session.

Banks bounce back, with UniCredit and Intesa Sanpaolo among the best in the basket, accomplishing gains of 4.6 percent and 3.5 percent, respectively.

Prysmian rises again, and with it all industrials: the cable company gains 3.2% while Leonardo rises 3.0%.

Italgas rises 1.0% after announcing that it has launched a new fixed-rate bond issue on the market with a nine-year maturity and expected nominal value of EUR500 million.

"The transaction responds to a logic of pre-funding of financial requirements and is consistent with Italgas' strategy of optimizing its debt structure and extending the average maturity of the company's bond portfolio," the utility explained.

Also doing well was Amplifon, up 0.3 percent, which signed a new sustainability-linked revolving credit facility with a syndicate of banks for a total amount of EUR300 million.

This new line, with a term of three years and the option to extend for an additional two years at the company's discretion, gives Amplifon greater financial flexibility, further strengthening the group's strong liquidity position, diversifying its sources of funding and extending the average maturity of its debt.

On the Mid-Cap, Fincantieri closed at a breakeven after it and its subsidiary Vard signed a memorandum of understanding with Heddle Shipyards, Thales Canada, and SH Defence during CANSEC 2023, Canada's largest defense exhibition, to enshrine the collaboration that will offer the Vigilance Class Offshore Patrol Vessel as part of the Canadian government's upcoming naval acquisition strategy to replace the Kingston Class.

Maire Tecnimont gained 0.5 percent. The company announced Thursday that its subsidiary KT-Kinetics Technology, part of its Integrated E&C Solutions business unit, has been awarded preliminary engineering work for a new green fertilizer complex in North America by a group of private investors.

The preliminary work, which will be performed on a reimbursable basis, is aimed at defining the design and major aspects of the project. Once completed, activities will enter the engineering, procurement and construction phase and will be executed by Maire's IE&CS subsidiaries.

Prominent among them are Juventus, which gained 5.1 percent, and OVS, up 3.4 percent, whose shareholders appointed a new board of directors, choosing Franco Moscetti as chairman. Stefano Beraldo is the new chief executive officer.

Among small-cap companies, Gequity is flying, up 27 percent, doing better than Exprivia, up 19 percent.

Mondo TV also gains ground, up 4.3 percent, after signing a distribution agreement with LEE Editorial to distribute the live action series "Action KidZ." The exclusive worldwide distribution agreement runs for four years starting June 1 and provides for revenue sharing between the parties.

"The series aims to introduce young people to different sports disciplines, inspiring them to lead an active life: the series features 35 different and unique sports activities practiced by ordinary children, united by a great passion for sports," the company explained.

At the bottom, Class Editori recorded one of the worst performances in the basket, complicit with a 3.3 percent drop.

Among SMEs listed on the Italian Stock Exchange, Italia Independent resumes the run recorded in the last month and closes the session with a 26 percent rise.

MeglioQuesto gains 15 percent after reporting that it closed the first quarter with revenues of EUR24.7 million, up 50 percent from EUR16.5 million as of March 31, 2022. Value of production is EUR25.0 million, up 48 percent from EUR16.9 million as of March 31, 2022.

Ebitda stands at EUR3.9 million, up 44% from EUR2.7 million as of March 31, 2022. Adjusted Ebitda stands at EUR4.2 million, up 40% from EUR3.0 million in the first quarter of the previous year.

In New York, the Dow is up 0.1 percent to 32,926.72, the Nasdaq is up 0.6 percent to 13,006.85, and the S&P 500 gains 0.4 percent to 4,198.00.

Among currencies, the euro changes hands at USD1.0731 versus USD1.0660 in Wednesday's European stock close. In contrast, the pound is worth USD1.2522 from USD1.2407 last night.

Among commodities, Brent crude is worth USD72.68 per barrel versus USD72.96 per barrel last night. Gold, on the other hand, trades at USD1,974.36 an ounce from USD1.2432 an ounce Wednesday night.

Friday's macroeconomic calnedarium opens with French industrial production data at 0845 CEST, followed 15 minutes later by Spanish unemployment data.

In the afternoon, for the U.S., focus on private sector payrolls and the unemployment rate, due at 1430 CEST, before Baker Hughes data on the number of drilling rigs, due at 1900 CEST.

Among the companies in the Square of Business, no results are expected coming in.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.