(Alliance News) - European stock indexes -- with the exception of Milan -- moved in a bearish trend Thursday morning as the "dovish" stances of the European Central Bank and the Federal Reserve raised expectations of potential interest rate cuts by major central banks as early as June.

Trading rooms await the U.S. labor market report due today, which could provide the Fed with further evidence that inflation is set to move back toward target.

On Thursday, the ECB kept interest rates at all-time highs but cut its inflation forecast, with Lagarde admitting the start of discussions on easing the central bank's restrictive monetary stance. In the U.S., however, Fed Chairman Jerome Powell hinted that the Fed is not far from gaining enough confidence in the path of inflation to cut the cost of money.

The FTSE Mib, thus, is advancing 0.1 percent to 33,439.18.

In Europe, London's FTSE 100 is giving up 0.2 percent as is Frankfurt's DAX 40 while Paris' CAC is in the fractional red.

Among the smaller lists, the Mid-Cap is giving up 0.2 percent to 46,379.72, the Small-Cap is in the red 0.2 percent to 27,648.40 and Italy Growth is in the red 0.1 percent to 8,115.20.

On the main list of Piazza Affari, Iveco Group advances 5.1% with new price at EUR12.54 per share, with the stock hitting a new 52-week high at EUR13.64 per share.

Telecom Italia, on the other hand, advances 3.1%, rearing its head again after four bearish sessions, following confirmation of its 2023 accounts. Operating income rises 38% to EUR836 million from EUR606 million, with marigne up 5.1% from 3.8%, while net loss narrows to EUR1.44 billion from EUR2.93 billion a year earlier.

Saipem advances 2.5% to EUR2.02 per share, also updating its 52-week high at EUR2.03.

Italgas - up 0.3% - reported that it has signed a EUR600 million Sustainability Linked loan agreement with a pool of Italian and international banks with a maximum maturity of five years. This is a Revolving Credit Facility that will provide the Group with a new source of financing to support future needs.

UniCredit--it is giving up 0.4 percent--reported Friday that it purchased 4.8 million of its own ordinary shares between March 4 and March 7. The shares were taken over at an average unit price of EUR31.3779, for a total value of EUR151.8 million.

On the MidCap, still momentum on Maire Tecnimont, which moves ahead 5.9 percent to EUR7.15 per share, with new annual high at EUR7.21.

Italmobiliare -- up 5.2% -- reported Thursday that it closed 2023 with a profit of EUR51.6 million from EUR33.5 million in 2022. The board of directors will also propose to the next shareholders' meeting the distribution of a dividend totaling EUR3 per share. NAV amounted to EUR2.20 billion from EUR2.03 billion in the previous year.

Danieli--on profit by 4.6 percent--reported on Thursday that it closed the first half of the year 2023/2024 on December 31 with a profit of EUR98.8 million, up 33 percent from EUR74.1 million in the same period last year. Operating income amounted to EUR2.07 billion from EUR1.87 billion as of Dec. 31, 2022. "The results for the first half of 2023/2024 confirm forecasts of declining profitability in steel production and improvement in steel plant design and supply. The two activities continue to offset each other in the 'up and down' of economic cycles, the company points out."

Fincantieri -- in the red by 1.4 percent -- announced Thursday that it had improved its loss in 2023 to a loss of EUR53 million from a loss of EUR324 mln as of Dec. 31, 2022. Revenues in the period stood at EUR7.65 billion from EUR7.44 billion in 2022.

On the SmallCap, boost on Fidia, which moves ahead 7.7 percent with new price at EUR0.3770. The stock - which has been missing the ex-dividend since 2017 - on the weekly increased its market cap by nearly 29%.

AlgoWatt - bullish with 6.8 percent - advances again after closing in double digits in the previous session.

Caltagirone Editore - up 0.5 percent - reported Thursday that it closed fiscal year 2023 with a profit of EUR16.2 million from EUR7.0 million in 2022. The board of directors resolved to propose to the shareholders' meeting to distribute a dividend of EUR0.04 up from EUR0.03 in 2022.

SIT, on the other hand, is giving up 4.1 percent with new price at EUR2.11 per share, rearing its head again after two bearish sessions.

Among SMEs, FAE Technology advances 4.7 percent, pointing to its eighth session among the bullish.

Bellini Nautica, on the other hand, advances 2.4 percent, rebounding after three bearish sessions.

For Clabo, on the other hand, the rise is 2.2%, also rearing its head after three bearish sessions.

In New York last night, the Dow closed bullish by 0.3%, the Nasdaq advanced 1.5%, and the S&P 500 gained 1.0%.

Among Asian exchanges, the Hang Seng posted a plus 0.8 percent, the Shanghai Composite advanced 0.6 percent, while the Nikkei picked up 0.2 percent.

Among currencies, the euro changes hands at USD1.0936 against USD1.0934 recorded at last night's European stock close, while the pound is worth USD1.2819 from USD1.2790 on Thursday night.

Brent crude is worth USD83.67 per barrel versus USD82.78 per barrel at Thursday's close. Gold, meanwhile, trades at USD2,165.68 an ounce from USD2,156.44 an ounce last night.

On Friday's macroeconomic calendar, at 1000 CET the Italian producer price index is scheduled to be released at 1100 CET from the Eurozone employment and GDP data will be released.

At 1430 CET from the US, the average wage and unemployment rate are expected.

In Piazza Affari, results from Acinque, BasicNet and Health Italia are expected.

By Maurizio Carta, Alliance News reporter

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