(Alliance News) - After an initially bullish start, the Mib index reversed course in the fourth session of the week, with the blue-chip list hovering around the 40,700-point mark.
On the macroeconomic front, Germany's annual inflation rate fell to 2% in June, its lowest in eight months, down from 2.1% in the previous two months. This figure was in line with preliminary estimates published Thursday by the Federal Statistical Office.
As a result, the FTSE Mib is currently down 0.2% at 40,756.05 points.
Elsewhere in Europe, Paris' CAC 40 is up 0.6%, Frankfurt's DAX 40 has gained 0.3%, and London's FTSE 100 is up 0.8%.
Among the smaller indices, the Mid-Cap is up 0.1% at 55,333.52, the Small-Cap has risen 0.2% to 32,484.41, and Italy Growth is up 0.1% at 8,297.65 points.
On the Mib in Milan, Campari leads with a 1.9% gain, rebounding from a 0.1% loss in the previous session.
Amplifon is also seeing buying interest, rising 1.3% to EUR20.20 per share, bouncing back after three consecutive bearish sessions.
Recordati is up 0.6%. The company announced it has repurchased its own shares for a total value of EUR4.3 million.
TIM is down 0.7% as it boosts liquidity to support new strategies and strengthen its relationship with Poste Italiane, now its largest shareholder with a 24.8% stake. Following the expansion of its corporate purpose to include sectors such as insurance, energy, and finance, the group is finalizing a EUR750 million loan with SACE (guaranteed at 70%) and a pool of banks, pending Antitrust approval.
In parallel, TIM has activated a new EUR3 billion credit line, which will also help renegotiate an old EUR4 billion loan.
On the Mid-Cap, Alerion is up 3.0% at EUR22.70 per share, following a 1.4% gain in the previous session.
NewPrinces is up 3.7% after announcing Wednesday it has signed a binding agreement with Heinz Italia, a subsidiary of Kraft Heinz, to acquire 100% of its Italian baby and specialty food operations. The deal includes the historic Plasmon production plant in Latina, around 300 employees, and the brands Plasmon, Nipiol, BiAglut, Aproten, and Dieterba.
The closing of the acquisition, valued at EUR120 million on a cash-free and debt-free basis, is expected in the second half of the year.
Lottomatica Group is down 1.1% after announcing Wednesday it had repurchased 232,580 of its own ordinary shares between June 30 and July 4, for a total consideration of EUR5.4 million.
Caltagirone is down 0.6% after gaining 1.7% in the previous session.
On the Small-Cap, I Grandi Viaggi is up 3.0%, building on a 3.1% gain in the previous session.
Esprinet is up 2.6%, marking its third consecutive bullish session.
Piquadro is also off to a good start, up 2.1% and breaking a four-session losing streak.
Among the many decliners, Tessellis is down 1.9% at EUR0.1022, hitting a new 52-week low of EUR0.1008 during trading.
Among SMEs, Innovatec is up and in a volatility auction after a 12% gain, last priced at EUR0.30.
Health Italia, up 1.1%, announced Wednesday it had received an unconditional positive outcome for its notification submitted on May 27 under golden power regulations. The green light concerns one of the key steps in the preliminary sales agreement signed on May 21 between Sorgiva Holding and PFH--owned by founders Massimiliano Alfieri and Oscar Pischeddu--and the club deal promoters Stefano Pellegrino and Giovanni Giuliani.
Copernico, on a still sluggish list, is down 5%.
In New York during European evening hours, the Dow Jones rose 0.5%, the S&P gained 0.6%, and the Nasdaq closed up 0.9%.
In Asia, the Nikkei closed down 0.4%, the Shanghai Composite closed up 0.5%, and the Hang Seng advanced 0.7%.
On the currency front, the euro is trading at USD1.1731 from USD1.1708 at Wednesday's close, while the pound is at USD1.3610 from USD1.3586 Wednesday evening.
Among commodities, Brent crude is trading at USD70.21 from USD70.10 per barrel at the previous close, while gold is at USD3,325.45 from USD3,311.04 per ounce last night.
On Thursday's economic calendar, at 1000 CEST, Italian industrial production data is due, and at 1110 CEST, a 12-month Italian BOT auction is scheduled. At 1200 CEST, consumer sentiment estimates for Italy, Spain, France, Portugal, and the UK are expected.
At 1430 CEST, attention will turn to US jobless claims, while at 1730 CEST, US Treasury auctions for 4- and 8-week bills and a 30-year bond are scheduled.
At 1900 CEST, a speech by Federal Reserve's Waller is expected, followed by a speech from BoE's Breeden in the UK at 1930 CEST.
From Piazza Affari, half-year results from Brunello Cucinelli and LU-VE are expected.
By Maurizio Carta, Alliance News Reporter
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