(Alliance News) - Mid-session Thursday, the Mib index moves bullish around 27,300 after two consecutive sessions of declines, aligning with the trend of other European exchanges. Trading rooms assess the latest inflation data from China and the US as they await the outcome of the Bank of England meeting later in the day, expected to raise the cost of money by an additional 25 basis points.

The annual U.S. inflation rate slowed to 4.9 percent in April, the lowest since April 2021, from 5.0 percent in March and below forecasts of 5.0 percent. The data were released Wednesday by the U.S. Bureau of labor statistics.

In China, on the other hand, annual inflation fell to a more than two-year low, according to National Bureau of Statistics data released Thursday. Consumer prices rose only 0.1 percent year-on-year in April, slowing from March's 0.7 percent increase and falling short of the consensus cited by FXStreet of a 0.3 percent increase.

Thus, the FTSE Mib trades 0.1% higher at 27,294.28.

In Europe, the CAC 40 in Paris advances 0.8 percent, the FTSE 100 is up 0.5 percent, and the DAX 40 in Frankfurt marks a green of 0.3 percent.

Among the smaller listings, the Mid-Cap rises fractionally to 42,955.11, the Small-Cap gives up 0.1% to 28,462.55, and Italy Growth is picking up 0.2% to 9,121.07.

On the Mib, purchases on Banca Monte dei Paschi, which trades up 2.6 percent. The board of directors Tuesday said it approved results for the year to March 31, in which revenues were EUR878.9 million, up 12 percent from EUR786.2 million in the first quarter of the previous year. Net income was EUR236 million, up 51 percent from EUR156 million in the same period last year.

High quarters also for Nexi, which is rallying 2.5 percent bringing the price to EUR7.7080 per share. The company on Thursday reported that in the first quarter of 2023, revenues stood at EUR741.7 million, up 9.0 percent compared to the first quarter of 2022, with January featuring a favorable year-over-year comparison. In the quarter, there was strong financial performance across all geographies. Ebitda was EUR335.7 million, up 14% year-on-year.

Marked sales on Iveco, which is currently giving up 4.2%. The company on Thursday reported that it closed the first three months of 2023 with a profit of EUR10 million compared with a loss of EUR15 million in the same period last year. Adjusted diluted earnings per share were EUR0.21, up EUR0.06 from the first quarter of 2022.

Pirelli, on the other hand, is giving up 2.0 percent with price at EUR4.80 as it awaits its quarterly report scheduled for today.

On the cadet segment, Tod's confirms the bullish trend started since the bell rang, advancing 4.2% with price at EUR39.44. The stock benefits - in addition to good first quarter accounts - from the target price increase by Goldman Sachs and JP Morgan.

Intercos, on the other hand, advances 2.3 percent to EUR115.58 per share, rearing its head again after three sessions closed among the bearish.

The buy side also prevails on OVS, among others, which advances 1.2% to EUR2.7440. The clothing company, which yesterday closed down 2.0 percent, had previously come from three bullish sessions.

At the tail end, Industrie de Nora, on the other hand, gives up 7.1 percent to EUR16.81 per share. The company reported Thursday that net income for the first quarter fell to EUR25 million from EUR26.5 million in the same period a year earlier.

Mondadori, on the other hand, gives up 2.5 percent. On Wednesday the board reviewed and approved the interim report as of March 31, 2023 reporting a loss of EUR5.2 million improving from a loss of EUR11.4 million in the first quarter of 2022.

On the SmallCap, Digital Bros advances 5%, also awaiting accounts due out today.

Italian Exhbition advances 3.2%, on the day when first-quarter accounts are expected.

Giglio Group, on the other hand, marks a plus 3.1%, giving ground after two sessions in the negative.

At the back of the pack, Zucchi contracts 3.9% to EUR2.25 per share, after a 3.5% gain on the eve of the day.

Aeffe, on the other hand, marks minus 3 percent in the aftermath of the publication of its quarterly report. Results for the first quarter of the year report a net loss of EUR300,000 from a profit of EUR8.9 million for the same period in 2022.

Among SMEs, Ambromobiliare is giving up 4.2 percent, positioning its snout toward the fourth session on the bearish side.

Frendy Energy is advancing 14 percent, replicating eve's bullish rate of gain.

Bifire, on the other hand, marks a plus 5.9 percent, contracting after 3.4 percent red on eve.

Websolute closes the list, giving up 3.8 percent to the bottom after two bullish sessions.

In New York on European night, the Dow Jones gave up 0.1%, the Nasdaq advanced 1.0%, and the S&P 500 closed in the green by 0.5%.

Among currencies, the euro changed hands at USD1.0928 versus USD1.0972 at Wednesday's close. In contrast, the pound is worth USD1.2586 from USD1.2615 on Wednesday evening.

Among commodities, Brent crude is worth USD77.12 per barrel versus USD76.82 per barrel on Wednesday evening. Gold, on the other hand, trades at USD2,027.38 an ounce from USD2,023.19 an ounce at Wednesday's close.

On Thursday's macroeconomic calendar, the Thomson Reuters Ipsos Global Monthly Primary Consumer Sentiment Index for Italy, France, and Germany will be released at 1200 CEST.

At 1300 CEST the Bank of England will release its interest rate decision, and at 1300 CEST the OPEC monthly report will be released.

In the afternoon, at 1430 CEST from the US will come the producer price index the unemployment data.

By Maurizio Carta, Alliance News reporter

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