(Alliance News) - On Thursday, European marketplaces continue with the bullish trend embarked upon soon after the bell rang, with the MIb joining the buying side in the 34,500-point area, also driven by better PMIs for both the Eurozone and Germany, the European locomotive that contributes about a quarter of the Old Continent's GDP.

The focus is highly on monetary policy developments that could, for the ECB, begin with its June meeting.

European Central Bank Vice President Luis de Guindos said a quarter-point cut in interest rates next month seems reasonable, according to an interview with the Austrian newspaper Oberösterreichische.

"We have been very transparent about the decision to be made for the June meeting," he said. "And we are taking a cautious approach, which argues in favor of a 25 basis point reduction."

Thus, the FTSE Mib is advancing 0.1 percent to 34,501.85, reversing a four-session bearish path.

Among the smaller listings, the Mid-Cap is advancing 0.3 percent to 47,878.84, the Small-Cap is up 0.2 percent to 29,124.37, and Italy Growth is advancing 0.3 percent to 8,241.56.

In Europe, Paris' CAC 40 is advancing 0.2 percent, London's FTSE 100 is floating just above parity, while Frankfurt's DAX 40 is advancing 0.3 percent.

On the Mib, FinecoBank, which is up 2.3 percent, after declining 0.9 percent on the eve.

Prysmian is advancing 2.1% to EUR59.00 per share. The stock is also being promoted by Beremberg, which raised the target price to EUR63.00 from the previous EUR58.00.

Purchases also on Stellantis, which marks a plus 1.4% to EUR20.68 per share, rebounding after six bearish sessions and with the annual recording a market cap increase of more than 33%.

Saipem -- down 0.8 percent -- on Wednesday evening reported that its subsidiary Saipem Finance International had successfully completed the placement of a new fixed-rate non-convertible and unsubordinated bond for a total amount of EUR500 million maturing in May 2030. The bonds pay an annual coupon of 4.875 percent and have a 100 percent re-offer price. The issue date is scheduled for May 30, 2024.

Tail of the convoy for Banca Monte dei Paschi, which retreated 1.5 percent after 2.3 percent green on the eve. For Rocca Salimbeni-which has been missing the ex-dividend since 2011-the year-to-date assets show a stretch of more than 128 percent.

On the MidCap, strength on Comer Industres, which moves up 3.9% breaking the four-session bearish mini-trend.

Technoprobe, on the other hand, pushes ahead 3.6 percent, on the heels of the 1.5 percent green of the eve and with the monthly up 21 percent.

Cembre, on the other hand, pushes 3.1 percent, following eve's 3.3 percent red and with price at EUR42.00 per share.

The board of directors of MFE-MediaForEurope on Thursday announced that it has approved periodic financial information for the first quarter 2024. Consolidated net income is positive EUR16.8 million compared to EUR10.1 million in the same period last year. However, class A shares gave up 0.1 percent, while class B shares marked a minus 0.8 percent.

Also among the bearish performers is Webuild, which contracts 8.7%, in its fourth session with a bearish candle.

On the SmallCap, buoyancy on Italian Exhbition Group, which marks a 3.6% green, with the stock nearly doubling its market cap on a year-to-date basis, marking a 98% gain.

Exprivia, on the other hand, advances more than 10% only to go into volatility auction with last price at EUR1.67.

Strength also on Gabetti, which marks a plus 2.5 percent. The stock - which has been missing the ex-dividend since 2006 - is priced at EUR0.65.

At the back of the pack - among the many on a negative note - PLC is giving up 3.6 percent. The stock is trading at a high volume of more than 26,100 units traded compared to a three-month daily average of 11,300.

Among SMBs, Caribbean Company scores a plus 14% before ducking into the volatility auction, on its fifth bullish session and bringing its weekly rise to 22%.

Fervi, on the other hand, pushes up 6.8 percent, following up on the same asset as eve.

For DBA Group, on the other hand, the green is 4.5 percent, with price at EUR3.00 per share-a new 52-week high-and assets since early 2024 of about 60 percent.

Among the many bearers, Pharmacosmo is giving up 3.1 percent, after 1.1 percent red in the previous session.

CrowdFundme, on the other hand, is giving up 3.0 percent, on the heels of eve's decline equally with 3.0 percent.

In New York on the European evening, the Dow gave up 0.5 percent, the Nasdaq gave up 0.2 percent, and the S&P marked a minus 0.3 percent.

Among currencies, the euro changed hands to USD1.0844 from USD1.0835 in Wednesday's European stock close while the pound was worth USD1.2724 from USD1.2727 on Tuesday evening.

Among commodities, Brent crude trades at USD82.41 per barrel from USD82.42 per barrel on Wednesday night. Gold, on the other hand, trades at USD2,363.92 an ounce from USD2,389.77 an ounce on Wednesday evening.

On Thursday's economic calendar, from the US, at 1430 CEST, data on unemployment claims are due, while at 1545 CEST it will be the turn of the services and manufacturing PMI. In the evening, at 2100 CEST, a speech by Bostic of the FOMC is scheduled.

By Maurizio Carta, Alliance News reporter

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