(Alliance News) - European stock markets on Thursday moved into negative territory as investors prepare for the Bank of England's latest monetary policy decision. Markets are divided on whether the BoE will begin easing policy at this meeting due to lingering concerns about service sector inflation and wage growth.

Last night, the US Federal Reserve said it was ready to cut rates in September if inflation continues to cool, while the Bank of Japan raised its benchmark rate to 0.25 percent, the highest since 2008.

On the domestic side, Istat on Thursday reported that in June the month-on-month unemployment rate increased to 7.0 percent from 6.9 percent in May, up from the 6.8 percent forecast by FxStreet.

Both the employed and unemployed grew in June compared to the previous month, and the inactive fell.

The FTSE Mib, thus, is marking a 1.2 percent loss at 33,376.24.

In Europe, Paris' CAC 40 is giving up 1.0 percent, London's FTSE100 is giving up 0.2 percent, and Frankfurt's DAX 40 is in the red by 1.0 percent.

Among the smaller listings, the Mid-Cap is in the red 0.6% to 46,977.34, the Small-Cap is in the red 0.2% to 28,903.05, and Italy Growth is in the green 0.3% to 8,066.03.

On the Mib, among the few bullish performers is Leonardo, which moves ahead 1.0 percent after falling 2.8 percent on the eve of the meeting. Leonardo's board Tuesday unanimously reviewed and approved first-half results, closing with a net profit of EUR555 million from EUR208 million in the first half of 2023. Revenues amounted to EUR7.98 billion from EUR6.89 billion in the first six months of 2023 and were up from the first half of 2023 in almost all business sectors.

Telecom Italia's board of directors -- up 2.4 percent -- approved preliminary and operating results as of June 30, reporting total revenues of EUR7.11 billion, up 3.5 percent year-on-year. Ebitda reported up 9.4 percent year-on-year to EUR2.1 billion.

Mediobanca, on the other hand, gave up 2.4 percent to EUR14.64 per share, after pushing up during the session to EUR15.37. The board of directors approved operating and consolidated results as of June 30, reporting net income of EUR1.27 billion, up 24 percent year-on-year. The group closes fiscal year 2023-2024-the first under the new plan-with record revenues of EUR3.6 billion, up 9 percent.

Nexi, on the other hand, is giving up 0.5 percent after numbers saw normalized group profit rise 3.4 percent to EUR300.6 million from EUR290.6 million in the same half of the previous year.

Prysmian's board of directors -- down 3.8 percent -- approved the group's consolidated results for the first half of the year, closing with net income at EUR410 million, up from EUR413 million in the first half of 2023. Net income attributable to shareholders of the parent company was EUR402 million, up from EUR405 million in the same period last year.

Amplifon, on the other hand, gave up 1.6 percent, following eve's 4.4 percent gain. The healthcare company reported net income on a recurring basis of EUR90.3 million, up from EUR89.3 million in the first half of 2023. Reported net income is EUR87.8 million, up from EUR81.4 million reported in the first half of 2023.

On the cadet segment, Digital Value is advancing 1.5 percent to EUR55.80 per share, in its third bullish session. It reported on Wednesday that it reported consolidated revenues of EUR450 million in the first half of the year, an increase of EUR34.5 million over the result as of June 30, 2023.

In contrast, Mondadori rises 0.8 percent after the accounts. The company reported Wednesday that it achieved an adjusted net profit of EUR9.0 million in the first half from EUR8.5 million in the first half of 2023. Revenues amounted to EUR387.2 million from EUR362.4 million in the same period of 2023.

Maire, on the other hand, is giving up 2.5 percent with price at EUR7.15 per share, following the 4.2 percent decline in the eve. The company nearly doubled its first-half profit to EUR97.0 million, up from EUR54.0 million in the same period a year earlier.

Cementir Holding, on the other hand, retreats 5.2 percent to EUR9.88 per share, following the 1.0 percent loss in the eve.

On the Small-Cap, Newlat Food is advancing 0.5 percent, following eve's 0.8 percent red.

SIT, on the other hand, is advancing 1.8%, after the eve's contraction closed with minus 5.7%.

Fidia, on the other hand, is giving up 4.0%, in its third session with a bearish candle and price in the EUR0.3140 area.

The board of Banca Sistema -- down 4.7% -- on Wednesday approved the consolidated financial statements as of June 30, reporting a net profit of EUR6.0 million, compared to EUR7.5 million for the same period in 2023. Net interest income, down year-on-year by EUR14.8 million or 41 percent, was affected by growth in interest expenses due to rate hikes made by the ECB during 2023 and higher funding.

Among SMEs, expert.ai pushes ahead by 2.7 percent, in its third bullish session.

Edil San Felice equally advances 2.7 percent, with new price at EUR4.25 per share, on its second bullish session.

At the tail end, Altea Green Power is giving up 1.5 percent, on its fourth bullish session.

At the tail end, Eles is contracting 5.7 percent after eve's gain, albeit by a tentative 0.8 percent. The company reported Wednesday that in the first half of the year it had consolidated sales revenues of EUR15.3 million, up 5.0% from EUR14.6 million as of June 30, 2023.

In New York overnight Europe, the Dow advanced 0.2%, the Nasdaq rallied 2.6%, and the S&P 500 closed up 1.6%.

Among Asian exchanges, the Hang Seng posted a red 0.2 percent, the Shanghai Composite similarly gave up 0.2 percent, while the Nikkei slipped 2.5 percent.

Among currencies, the euro changed hands at USD1.0780--a new monthly low--against USD1.0826 on Wednesday in closing European equities while the pound was worth USD1.2758 from USD1.2843 on Wednesday evening.

Among commodities, Brent crude is trading at USD81.48 per barrel from USD80.60 per barrel at yesterday's close. Gold, on the other hand, trades at USD2,433.11 an ounce from USD2,422.11 an ounce last night.

Thursday's macroeconomic calendar includes the Bank of England's decision on interest rates at 1300 CET.

In the afternoon, from the US will come initial unemployment claims and nonfarm productivity data at 1430 CEST while at 1600 CEST the ISM manufacturing index is expected.

At 1800 CEST, car registrations in Italy are expected.

By Maurizio Carta, Alliance News reporter

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