(Alliance News) - European stock markets opened slightly higher on Thursday, buoyed by improved global sentiment following an easing of trade tensions.
The US Court of International Trade has ruled that former President Donald Trump exceeded his authority in imposing retaliatory tariffs, ordering their immediate removal and a permanent block. While the Trump administration has announced plans to appeal, the ruling delivers a significant blow to the protectionist stance.
As a result, the FTSE Mib is up 0.8% at 40,427.77 points.
London's FTSE 100 is trading just above flat, Paris' CAC 40 is up 0.9%, and Frankfurt's DAX 40 is gaining 0.6%.
Among the smaller indices, the Mid-Cap is up 1.0% at 55,242.82, the Small-Cap is rising 0.7% at 32,082.96, while Italy Growth is up 0.4% at 8,062.92.
On the Mib, STMicroelectronics is showing strength, up 3.5% to EUR23.12 per share after losing 0.5% in the previous session.
Moncler is also advancing 3.5%, rebounding from a 0.9% loss yesterday. Bernstein has raised its price target on the stock to EUR60.00 from EUR55.00, maintaining a 'market-perform' rating.
Unipol is up 1.4%. Notably, Barclays has increased its price target to EUR17.50 from EUR16.50.
Among the few decliners, Italgas is down 2.2%, heading for its third straight session of losses.
Leonardo is retreating by 2.1%, as investors take profits after four consecutive bullish sessions.
In the Mid-Cap segment, De'Longhi is performing well, up 5.4% after a 1.6% loss on the previous day. Barclays has raised its price target to EUR30.00 from the previous EUR23.00.
Salvatore Ferragamo is up 4.3%, recovering from a 1.3% decline yesterday.
Technoprobe is also advancing by 3.5%, after falling 3.1% in the previous session.
Maire is down 1.5%, closing out the Mid-Cap list and following a 0.9% loss in the previous session.
On the Small-Cap, Giglio Group is up 7.4%--after two sessions among the decliners--putting its price around EUR0.29.
Softlab is advancing 4.8%, following a 5% gain yesterday. The stock is seeing high trading volumes, with about 25,000 shares already changing hands compared to a three-month average volume of 11,300.
ALTEA Green Power is also performing well, hitting a new 52-week high at EUR8.67 per share.
SYS-DAT, down 9.8%, announced that Vittorio Neuroni, Matteo Luigi Neuroni, Emanuele Edoardo Angelidis, and Marta Neuroni have successfully completed the sale of 3.1 million ordinary shares in the company. Of the total, 928,488 ordinary shares were sold following the exercise of a discretionary upsize option, amounting to roughly 10% of SYS-DAT's share capital, at a price of EUR6.00 per share for a total consideration of EUR18.8 million.
Among SMEs, ATON Green Storage is up 9.0%, posting its third consecutive bullish session.
Racing Force Group, up 3.0%, announced Thursday that High Protection Systems--its newest brand created to adapt and develop cutting-edge motorsport safety technologies into head protection devices for law enforcement and defense--has secured its first major multi-year contract.
The board of Casta Diva Group, down 9.0%, has approved its financial statements as of December 31, closing with a net profit of EUR1.0 million compared to EUR1.9 million in 2023. Sales and service revenues reached EUR121.9 million, up 10% from 2023, when they stood at EUR110.8 million.
On Wall Street last night, the Dow closed down 0.6%, the Nasdaq fell 0.5%, and the S&P lost 0.6%.
In Asian markets, the Nikkei gained 1.8%, the Hang Seng is up 1.2%, while the Shanghai Composite rose 0.7%.
In currencies, the euro is trading at USD1.1277, down from USD1.1306 on Wednesday evening, while the pound is trading around USD1.3468 from USD1.3472 last night.
In commodities, Brent crude is trading at USD66.00 a barrel from USD64.92 a barrel Wednesday evening, while gold is valued at USD3,284.20 an ounce from USD3,324.11 an ounce last night.
Thursday's macroeconomic calendar: at 1000 CEST, Italy will release data on business confidence and the consumer confidence index.
At 1100 CEST, the Italian trade balance with non-EU countries is expected, while at 1110 CEST the Italian Treasury will auction five- and ten-year BTPs.
At 1200 CEST, Italian industrial sales data will be published.
In the afternoon, at 1430 CEST, several US indicators will be released: continuing jobless claims, the core PCE price index, quarterly GDP, and initial jobless claims.
At 1600 CEST, pending home sales data from the US is expected.
In the evening, at 2100 CEST, Bank of England Governor Andrew Bailey is scheduled to speak, while at 2230 CEST the Federal Reserve's balance sheet will be published.
Among companies listed on Piazza Affari, H-Farm's half-year results are expected.
By Maurizio Carta, Alliance News reporter
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