(Alliance News) - The Mib closed in the 31,700 area, in line with other European exchanges, with the rebound appearing to be exhausted from the recent sell-off and trading rooms continuing to assess the economic and monetary outlook.

Traders have been raising expectations for an ECB rate cut, now expecting another 90 bp cut this year, with a 50 bp cut likely at the September meeting.

On the Federal Reserve side, markets expect a 50 bp rate cut in September and total easing of more than 100 bp for the year.

The FTSE Mib gave up 0.3 percent to 31,741.91, the Mid-Cap gave up 0.7 percent to 44,776.05, the Small-Cap closed down 0.6 percent to 27,820.34, and Italy Growth closed down 0.6 percent to 7,783.31.

In Europe, London's FTSE 100 closed down 0.3 percent as did Paris' CAC 40, while Frankfurt's DAX 40 closed in the green by 0.4 percent.

On the Mib FinecoBank closed down 2.0 percent at EUR14.28 per share, after eve's green with 3.6 percent breaking five sessions with a bearish candle.

ERG, on the other hand, left 1.9% on the parterre after a 1.1% gain on Wednesday evening.

Azimut Holding -- in the red by 0.7 percent -- announced Thursday that it has entered into a strategic partnership with financial institution AMP Limited and advisory services group Entireti through its Australian subsidiary AZ Next Generation Advisory to create a unique and attractive offering for AMP's financial advisors.

Good buys on Generali, which closed up 1.1 percent to EUR22.58 per share following up on eve's 2.0 percent gain.

Good session, among the bullish few, also for Nexi, which finished the run in a positive balance of 1.6%, on its third bullish daily candle.

On the cadet segment, strength on Cembre, which rallied 2.2 percent, on its third bullish session.

The board of GVS -- up 7.7 percent -- on Thursday approved preliminary results for the first half of 2024. Normalized net income stood at EUR22.5 million, up 12 percent from the previous year. During the first half of 2024 GVS achieved consolidated revenues of EUR214.8 million, up 1.6 percent year-on-year at constant exchange rates and 0.7 percent at current exchange rates.

Industrie de Nora left 6.9% on the parterre, in its fourth session with a bearish candle. Of note, a few days ago Envestsra Capital cut its short position on the stock to 0.47 percent from 0.56 percent previously.

For Technoprobe, the loss was 9.2 percent, after a 2.6 percent green in the previous session. The company reported Thursday that it closed the first half with revenues up to EUR241.1 million from EUR196.3 million in the same period a year earlier. However, net income contracted to EUR28.1 million from EUR31.1 million.

On the Small-Cap, Aedes took home 2.9 percent, after a negative balance of 2.8 percent on Wednesday night.

Mondo TV, on the other hand, picked up 2.6 percent, after a 0.8 percent red balance in the previous session.

Servizi Italia -- in the green by 0.5 percent -- reported Thursday that it closed the first half of the year with a consolidated profit of EUR4.2 million from EUR2.9 million as of June 30, 2023. During the period, consolidated revenues stood at EUR147.2 million from EUR143.8 million in the first half of 2023.

Trevi Finanziaria Industriale -- in the red with 8.8 percent -- said Thursday that its board of directors reviewed and approved the group's interim report, half-year ended with a net profit for the year of EUR551,000 down from EUR27.6 million as of June 30, 2023. Group loss, meanwhile, amounted to EUR2.6 million from a profit of EUR23.6 million in the same period of 2023.

Softlab, on the other hand, gave up 6.4 percent, after a 1.9 percent green in the previous session.

Among SMEs, boost on Alfonsino, which closed bullish by 5.4 percent, on its third bullish trend candle.

Askoll Eva advanced 3.2%, after 0.5% red on the eve and with new price in the EUR0.225 area.

Among the many stocks on a negative note, Alfio Bardolla gave up 4.5 percent, the subject of profit taking after two sessions ended in the green and having gathered an aggregate of nearly 16 percent.

ISCC Fintech, on the other hand, gave up 4.7 percent, in its fourth bearish session and setting the price at EUR2.04 per share.

In New York, the Dow advances 1.3 percent, the Nasdaq advances 2.1 percent, and the S&P 500 is advancing 1.7 percent.

Among currencies, the euro changes hands at USD1.0906 versus USD1.0926 in Wednesday's closing European equities while the pound is worth USD1.2727 from USD1.2714 from Wednesday evening.

Among commodities, Brent crude is trading at USD78.89 per barrel versus USD78.61 per barrel at Wednesday's close. Gold, on the other hand, trades at USD2,416.00 an ounce from USD2,392.98 an ounce on Wednesday evening.

Friday's macroeconomic calendar includes China's inflation figure at 0330 CEST, while Germany's will be available at 0800 CEST, followed by Italy's at 1000 CEST. At 1100 CEST, again from Italy, the trade balance report will be released.

In the evening, starting at 1900 CEST, from the U.S. will come the Baker Hughes plants report, while at 2130 CEST it will be time, as usual, for the release of the COT Report.

On the corporate calendar, coming up are the reuslts of Dexelance, NB Aurora, Newlat Food, Pharmanutra and Valsoia.

By Maurizio Carta, Alliance News reporter

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