(Alliance News) - The Mib moved lower Thursday, with the point bar in the 33,400 area, mirroring the performance of other European exchanges as investors' inflation fears resurfaced. Chief among them were U.S. PCE inflation and preliminary inflation data for France, Spain and Italy due tomorrow.

Domestically, the manufacturing confidence index fell to 86.8 in June 2024, missing market expectations of 88.7.

Thus, the FTSE Mib is marking a decline of 0.4 percent to 33,405.14.

In Europe, London's FTSE 100 is giving up 0.2 percent, Frankfurt's DAX 40 is below par, and Paris' CAC 40 is marking minus 0.4 percent.

Among the smaller listings, the Mid-Cap marks a red 0.1 percent to 49,853.79, the Small-Cap advances 0.5 percent to 28,797.58 while Italy Growth advances 0.1 percent to 8,127.14.

On the Mib, Brunello Cucinelli advances well, posting a green of 3.7 percent to EUR95.85 per share, after declining 0.1 percent on the eve.

Strength also on Leonardo, which moves ahead 0.9%, rebounding after four sessions closed with a bearish candle. The stock, since the start of 2024, has increased market cap by more than 44%.

Also good session for Saipem, which moves ahead 0.6% to EUR2.30 per share, on its sixth consecutive bullish candle.

Among the many negative notes, Stellantis gives up 3.5%, in its third bearish session.

Campari, on the other hand, is stepping back 2.0%, on its fifth session in negative balance.

ERG - in the red by 0.8 percent - announced Friday that it had completed the placement of a EUR500 million 6-year fixed-rate bond issued as part of its EUR3.0 billion medium- to long-term non-convertible and non-subordinated bond issue program.

On the cadet segment, Philogen advances well, posting a plus 1.5 percent at EUR20.30 per share. The stock has a 30-day VWAP at EUR20.728.

d'Amico is doing better than all, advancing 3.4 percent, on the heels of the 8.2 percent gain from the previous session.

Salvatore Ferragamo ranks at the tail giving up 7.7 percent with price at EUR8.42. Worth mentioning is that UBS cut its price target on the stock to EUR9.00 from the previous EUR9.50.

Sales, among many, also on Carel Industries, which flexes 1.6%, in its third bearish session.

On the SmallCap, Safilo group advances 6.3 percent to EUR1.07 per share. The company - which has been missing the ex-dividend since 2008 - comes from two sessions closed among the bearish.

Somec - in the green by 2.5 percent - on Thursday reported that it has won three orders worth a total of EUR63.4 million to benefit its Horizons division, engineered systems of naval architecture and civil facades. The work will start in the second half of 2024 and continue until 2029 with volumes and consequently revenues evenly distributed over the time frame.

TXT e-solutions -- in the green by 0.6 percent -- on Wednesday informed that a contract was signed to acquire 100 percent of the capital of Imille Srl,

its foreign subsidiaries Imille Spain SL, Imille Start Spa (Chile), and Imille Brasil Agencia LTDA, and Uasabi Srl, together referred to as the "I MILLE Group." TXT will consolidate the results within its Digital Advisory division as of June 26. The base consideration paid at closing for the purchase of 100 percent of Gruppo I MILLE, net of earn-outs, claw-back and NFP that will be settled in cash, was agreed between the parties at EUR8.5 million.

Conafi, on the other hand, is giving up 4.0 percent, bringing the price to EUR0.2190.

Borgosesia--in the red by 0.6 percent--reported that it had finalized the purchase of 77 percent of an investment vehicle--owner of a property, abandoned for years, located on Via Mecenate (southeastern area) in Milan and already intended for office use for a consideration of EUR7.25 million.

Among SMEs, purchases on Execus, which moves ahead 6.3 percent to EUR1.87 per share rearing its head again after two sessions among the bearish.

Caribbean Company, meanwhile, advances 2.2 percent to EUR1.15 per share on the heels of a 4.2 percent decline.

On a negative note, Ivision Tech is giving up 2.0 percent to EUR1.92, on the heels of eve's 0.5 percent decline.

In New York, the Dow closed just above par, the Nasdaq advanced 0.5%, and the S&P picked up 0.2%.

Among the Asian exchanges, the Nikkei gave up 0.8 percent, the Shanghai Composite gave up 0.9 percent, and the Hang Seng gave up 2.1 percent.

Among currencies, the euro changed hands at USD1.0697 from USD1.0681 on Wednesday in European equities closing while the pound was worth USD1.2648 from USD1.2621 on Wednesday evening.

Among commodities, Brent crude is trading at USD85.28 per barrel from USD84.58 per barrel at Wednesday's close. Gold, on the other hand, trades at USD2,300.35 an ounce from USD2,299.26 on Wednesday evening.

Thursday's macroeconomic calendar includes, from the U.S., at 1430 CEST the PCE index report and the first quarter GDP estimate will be released, as well as the trade balance and initial claims for unemployment benefits.

At 1730 CEST, also from the US, an auction with 4-, 8-week and 7-year Treasury bonds is scheduled.

By Maurizio Carta, Alliance News reporter

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