(Alliance News) - The Milan index moved bullish on Thursday, trading just below 27,480, the highest in nearly two weeks, following an upbeat mood in global stock markets. Market sentiment was boosted mainly by encouraging signs of a possible deal soon on the U.S. debt ceiling.
U.S. President Joe Biden said he was "confident" about an imminent deal, and House Speaker Republican Kevin McCarthy also spoke of a "possible agreement by the weekend." Meanwhile, the focus remains on central banks and possible directions on the future path of interest rates.
"The market has mostly discounted a success on the debt ceiling deal," said Mike Zigmont, head of research and trading at Harvest Volatility, noting that "there won't be much market movement, from these levels, when the deal is announced as official."
The FTSE Mib, thus marks a 1.0 percent rise to 27,475.69. Put/call volumes mark a value of 1.21.
Among the smaller listings, the Mid-Cap is picking up 0.5 percent to 43,280.53, the Small-Cap in the green by 0.6 percent to 28,111.55, and Italy Growth is in the red by 0.1 percent to 9,121.27.
In Europe, London's FTSE 100 is advancing 0.6 percent, the CAC 40 is up 0.8 percent, and Frankfurt's DAX 40 is trading up 1.5 percent.
On the Mib, BPER Banca trades well, advancing 2.0% to EUR2.72, rearing its head again after three bearish sessions.
Banco BPM, on the other hand, is picking up 2.2%, veering to the upside after two sessions in the negative.
Stellantis, on the other hand, is advancing 1.2% with price at EUR15.00, following on the heels of eve's 1% gain.
Saipem - leading the way with 3.1 percent assets - announced Thursday that it has been awarded two new offshore contracts, one for an Engineering, Procurement, Construction and Installation project in the Black Sea and one for decommissioning activities in the North Sea. The total value of the contracts is about USD850 million.
Among the few bearish A2A gives up 2.1 percent, following up on the previous two bearish sessions.
It also gives ground on Monte dei Paschi, which loses 1.3 percent after two negative sessions.
On the Mid-Cap, strength on Industrie de Nora stock, which advances 2.5 percent in its fifth bullish session.
MFE also advances well, with B shares up 4.1% and A shares up 3.0%.
Saras, on the other hand, advances 1.6 percent, on the heels of eve's green with 1.4, bringing its assets on a weekly basis over 5 percent.
Among the bearish few on the list is Salvatore Ferragamo, which retreats 1.4% to EUR15.33 per share.
Red also for Technogym, which gives up 0.5 percent after eve's gain of 1.3 percent. The stock on a weekly basis marks a rise of nearly 6 percent.
On the Small-Cap, leading the bullish Fidia is picking up 5.2% after two sessions of declines.
Itway, which marks a plus 5.1% with new price at EUR1.27 rearing its head after two bearish sessions.
Brioschi, on the other hand, is giving up 4.8% to EUR0.0672, also turning upward after two closings in the red. The stock - which has not detached its dividend since 2019 - rallied 2 percent in the eve.
Among SMBs, Gambero Rosso advances 7.8% to EUR0.4820, with weekly assets up 15%.
Red for Giglio.com, which after eve's active 0.7% is giving up 2.1%. The stock had previously come from six sessions on the bearish side.
Svas Biosana -- in the red by 2.9 percent -- announced that it has initiated a new buyback program for its own ordinary shares. The purchases may be for a maximum of ordinary shares, with no indication of par value, equal to 20 percent of the share capital and may be made for a maximum purchased value of EUR1.5 million.
In New York on the European night, the Dow rose 1.2 percent, the Nasdaq rallied 1.3 percent, and the S&P 500 advanced 1.2 percent.
In Asia, the Nikkei rallied 1.6 percent, the Shanghai Composite 0.4 percent, while the Hang Seng marks a green of 0.8 percent.
Among currencies, the euro changed hands at USD1.0819 versus USD1.0834 at Wednesday's close. In contrast, the pound is worth USD1.2440 from USD1.2482 last night.
Among commodities, Brent crude is worth USD76.77 per barrel versus USD76.50 per barrel last night. Gold, on the other hand, trades at USD1,976.48 an ounce from USD1,981.99 an ounce at Wednesday's European equities close.
On Thursday's macroeconomic calendar, in the morning, at 1100 CEST comes ECB President Christine Lagarde's speech.
At 1430 CEST, from the US, it's the turn of unemployment benefit claims. At 1730 CEST, there is an auction of Treasury bills with 4- and 8-week maturities.
By Maurizio Carta, Alliance News senior reporter
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