(Alliance News) - On Thursday, Piazza Affari closed lower for the second day in a row, bringing the point bar to more than a week's lows in the 28,000 area, in line with other European exchanges, in the aftermath of the release of the July Fed meeting minutes that raised doubts about the U.S. central bank's plans on interest rates.

Federal Reserve members continue to see upside risks to inflation, not entirely closing the door on the possibility of further hikes in the cost of money.

On Thursday, in the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate, or EFFR, the rate confirmation at the Sept. 20 meeting has an 87 percent probability for the 525/550 bps range confirmation. In contrast, the 25 bps rise in the 550/575 bps target is priced at 13%.

Thus, the Mib closed down 1.0 percent to 27,879.35, the Mid-Cap gave up 1.3 percent to 41,497.95, the Small-Cap in the red 0.5 percent to 26,868.19 while Italy Growth gave up 0.5 percent to 8,883.96.

In Europe, Paris' CAC 40 closed down 1.0 percent, Frankfurt's DAX gave up 0.7 percent, and London's FTSE 100 finished 0.6 percent in the red.

On the main index in Piazza Affari, Banco BPM fell 0.2% in an almost completely bearish list. The bank announced that, as part of its program of interventions to support businesses, it will launch a new initiative on electronic payments that aims to curb the fees charged to companies and, at the same time, incentivize the digitization of payments and the further spread of electronic instruments even for small-value transactions.

In detail, for each transaction made on the PagoBANCOMAT circuit of an amount less than or equal to EUR10.00, executed from October 1, 2023 to June 30, 2024, Banco BPM will reimburse merchants for the fees paid by them.

At the tail end, Nexi closes the list, giving up 3.2 percent of liabilities. The stock, which trades with price at EUR6.72, hit a 52-week low of EUR6.61 per share.

Rear-ends also for FinecoBank, which contracted 2.6 percent, in its fourth session on the downside. Of note, Marshall Wace recently cut short position on FinecoBank to 0.69% from 0.79%.

Tenaris, on the other hand, loses 0.4 percent, despite announcing that it has entered into a definitive agreement to acquire from Mattr 100 percent of the shares of its subsidiary Bredero Shaw International, which holds control of the pipe coating business worth USD166 million including working capital, on a cash-free and debt-free basis, subject to customary price adjustments.

Good buying on Eni, with the six-legged dog's stock priced up 0.3 percent, turning upward after three bearish sessions. Also up was subsidiary Saipem, which advanced 0.4 percent.

On the Mid-Cap, among the few bullish performers is illimity Bank, which moves ahead 1.1 percent in its fourth bullish session.

Zignago Vetro, on the other hand, advances 0.9%, rearing its head after five sessions among the bearish.

Piaggio also does well, posting a plus 0.8% heading for its third session on the bullish side.

Reply, however, gives up 4.6 percent, with price at EUR88.20, marking a new 52-week low.

Backwardation also for Mutuionline, which contracts 4.1 percent. The stock traded high at around 65,000 changed hands compared to a three-month daily average of around 13,800.

Juventus Football Club -- in the red by 2.1 percent -- on Wednesday reported that it had reached an agreement with Società Sportiva Lazio, down 0.5 percent on the Small, for the free temporary transfer, until June 30, 2025, of the rights to the sports performance of the player Nicolò Rovella. The agreed consideration for the outright acquisition is EUR17 million, payable in three fiscal years.

On the Small-Cap segment, strength on LVenture, which moves ahead 0.9 percent. There is high trading volume on the stock, with nearly 43,000 pieces changing hands compared with a three-month daily average of about 10,600.

Purchases also on Fidia, which moved ahead 4.9 percent after two sessions closed with a negative balance, placing the flag at the top of the list.

Autostrade Meridionali gives up 3.8 percent, positioning itself as the worst performer. Of note, the stock has rallied about 31 percent in the past month.

Services Italy, on the other hand, retreats 0.8 percent to EUR1.33, cushioning the loss that saw the price on the day drop to EUR1.28, while Mondo TV marks a minus 2.6 percent bringing the price to EUR0.40.

Among SMEs, boost on Health Italia, which marks a plus 4.4 percent on the heels of eve's green with 0.7 percent.

On a negative note, a dominant trend on this list as well, Iervolino & Lady Bacardi gave up 7.2%, subject to profit taking after six sessions on the bullish side.

Gismondi 1754, on the other hand, flexes 4.9% to EUR4.62 after 0.4% green on eve.

In New York, the Dow Jones is down 0.1 percent as is the S&P, while the Nasdaq is contracting 0.5 percent.

Among currencies, the euro changes hands at USD1.0872 versus USD1.0905 in Wednesday's European equities close while the pound is instead worth USD1.2746 from USD1.2751 on Wednesday evening.

Among commodities, Brent crude is worth USD84.85 per barrel versus USD85.04 per barrel at Wednesday night's close. Gold, on the other hand, trades at USD1,893.90 an ounce from USD1,903.08 an ounce on Wednesday evening.

Friday's economic calendar opens with Japan's inflation at 0130 CEST while at 0800 CEST, from the UK, it will be the turn of retail sales. At 1100 CEST, from the Eurozone, focus on inflation.

From the U.S., on the other hand, at 1900 CEST, will come data on Baker Hughes trievallazione plants while, at 2230 CEST, as usual on Fridays, the COT Report.

No special events are expected among the companies in the Square.

By Maurizio Carta, Alliance News reporter

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