(Alliance News) - Major European stock exchanges on Thursday met forecasts and opened the session in the green, with investors' attention shifted to the long-awaited U.S. consumer inflation data to be released in the early afternoon.

News regarding Chinese measures to support domestic banking stocks provided an additional layer of support. Indeed, Central Huijin Investment--a USD1.4 trillion branch of China Investment Corp--bought USD65 million worth of shares in the country's banking giants bolstering sentiment in the markets, which have been hit by concerns about the economy struggling to rebound.

As a result, the FTSE Mib opens up 0.8 percent to 28,645.56, the Mid-Cap advances 0.6 percent to 39,670.30, the Small-Cap is up 0.4 percent to 25,666.05 while Italy Growth is in the green 0.2 percent to 8,070.49.

In Europe, London's FTSE 100 is up 0.6 percent, Paris' CAC 40 is in the green by 0.5 percent as is Frankfurt's DAX 40.

On the macro front, it is reported that the British economy returned slightly to growth in August, as expected, but the decline in July was slightly worse than previously estimated, according to data provided Thursday by the Office for National Statistics.

The ONS estimates that gross domestic product rose 0.2 percent in August compared to July, after contracting a revised 0.6 percent in July compared to June.

On the Italian Stock Exchange's main list, which is entirely tinged with green, Snam opens up 0.5 percent after announcing Wednesday that it has resolved to renew annually its Euro Medium Term Notes program, launched in 2012, confirming its maximum total countervalue of EUR13 billion.

As a result, the board resolved to issue one or more additional bonds by Oct. 11, 2024, with a maximum nominal value of about EUR4.1 billion, plus the amount corresponding to any bonds redeemed during the same period, to be placed with institutional investors operating mainly in Europe.

Stellantis rises with 1.1 percent. The company said it has selected Kokomo, Indiana, as the site for its second battery production plant in the U.S. as part of its StarPlus Energy joint venture with Samsung SDI.

The Amsterdam-based Italian-American automaker with brands including Fiat, Chrysler, Peugeot, Citroen, Vauxhall and Jeep said the plant is expected to begin battery production in early 2027.

CNH Industrial opens up 0.7 percent. Of note, Goldman Sachs cut target price to EUR14.70 from EUR15.70 with 'neutral' title.

Azimut Holding is in the green by 1.1 percent. The company Tuesday reported positive net inflows of EUR247 million in September, reaching EUR5.0 billion since the beginning of the year and with a full-year 2023 target of EUR6-8 billion, of which 60 percent or EUR3 billion was directed into asset management products.

Better than all do Tenaris, up 2.3 percent, Banca Monte dei Paschi di Siena and Telecom Italia, in the green by 1.8 percent and 1.3 percent.

On the cadet segment, among the bullish performers who are the majority, Iren opens in the green by 1.1 percent after announcing Wednesday that, through its subsidiary Iren Ambiente Toscana, it has finalized the acquisition of control of Semia Green, a company active in the circular economy.

The remainder of the share capital is held by Sienambiente, already a shareholder of Semia Green and in which the Iren group has a 40 percent stake.

Maire Tecnimont is doing well, opening up 1.0 percent. Of note, Fosse Capital Partners cut its short position on the stock to 0.7% from 0.95% previously.

Sesa advances 1.3 percent after announcing Tuesday that it has acquired a 100 percent stake in Trias Mikroelektronik GmbH through its subsidiary Var Group Spa, strengthening its expertise and software solutions for the engineering sector in the DACH Area.

At the top are Reply, up with 3.1 percent, Antares Vision and Saras, rising with 2.5 percent and 2.1 percent.

On the Small-Cap, Immsi opens in the red by 0.4 percent after announcing Wednesday that the board of directors of Omniainvest Spa has approved a plan for an asymmetrical partial demerger that will be submitted to an extraordinary shareholders' meeting.

Omniainvest is currently 83.9 percent owned by Omniaholding-which controls Immsi-, RFM & Partners Spa for 9.8 percent, traceable to Ruggero Magnoni, a board member of Immsi, and Zunitas Srl for 6.3 percent, traceable to the Zanetti family, whose member Carlo Zanetti is a board member of Piaggio & C.

Orsero gives up 0.6 percent after announcing Wednesday that it has kicked off a 140,000-share buyback program of its own ordinary shares.

The company may invest a maximum of EUR2.0 million for the plan, which will extend until no later than Nov. 30.

At the highs were Pierrel, in the green by 7.7 percent, followed by Softlab and Unidata, which climbed 4.9 percent and 3.1 percent, respectively.

Among SMEs, boost on EdiliziAcrobatica -- up 4.4 percent --, which reported Thursday that it signed 18,590 contracts in the first nine months of the year, up from 12,149 in the same period of 2022 with a 53 percent growth.

This result also reflects the growth in the number of clients, which registered a 78 percent increase.

Edil San Felice-which does not yet trade-announced Tuesday that it had completed the acquisition of all the shares of Sogem Srl, a Campania-based company active in the restoration and maintenance of protected assets, for a total of EUR410,000.

In Asia, the Nikkei closed up 1.7 percent at 32,488.50, the Hang Seng rose 1.7 percent to 18,224.00

and the Shanghai Composite finished up 0.9 percent at 3,107.90.

In New York on European night, the Dow closed up 0.2 percent at 33,804.87, the Nasdaq finished up 0.7 percent at 13,659.68, and the S&P 500 finished in the green 0.4 percent at 4,376.95.

Among currencies, the euro changed hands at USD1.0629 against USD1.0615 recorded at Wednesday's European equities close, while the pound was worth USD1.2311 from USD1.2303 on Wednesday evening.

Among commodities, Brent crude is worth USD86.04 per barrel from USD85.97 per barrel at Wednesday's close. Gold, meanwhile, trades at USD1,880.32 an ounce from USD1,872.96 an ounce on Wednesday evening.

Thursday's macroeconomic calendar, at 1100 CEST, features speeches by Pill and Woods of the Bank of England, while ten minutes later there will be an auction of BTPs with 3- and 7-year maturities. At 1300 CEST, however, Fabio Panetta of the ECB board will speak.

At 1430 CEST from the US it will be the turn of unemployment claims and the consumer price index. At 1700 CEST crude oil stocks and the EIA refineries report. At 1730 CEST it will be the turn of the 4- and 8-week Treasury bond auctions, while at 1900 CEST there will be a 30-year maturity auction. Finally, at the same time, FOMC member Bostic will give a speech.

No special events are scheduled in the corporate calendar.

By Chiara Bruschi, Alliance News reporter

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