(Alliance News) - On Thursday, major European stock markets confirmed expectations and opened in positive territory, except for the Mib, while news came from the U.S. that President Joe Biden is scheduled to give a press conference in the evening, his first since the disaster of the debate against Donald Trump, in a moment of pressure that could spell the fate of his re-election bid.

The eyes of the world will be on the 81-year-old at a NATO summit as he tries to appease growing calls from his Democratic Party to step aside because of his age and health.

Thus, the FTSE Mib opens 0.1 percent in the red at 34,283.59, the Mid-Cap is in fractional green at 48,047.75, as is the Small-Cap at 29,138.76, while Italy Growth rises 0.2 percent to 8,107.22.

In Europe, Paris' CAC 40 is in the green by 0.5 percent, London's FTSE100 is on the parity threshold, and Frankfurt's DAX 40 rises 0.4 percent.

In macroeconomic news, Germany's annual inflation rate fell to 2.2 percent in June from 2.4 percent in the previous month, in line with preliminary estimates.

The data were published Thursday by the Federal Statistical Office.

Prices slowed for goods to 0.8 percent from 1 percent in May, while energy costs fell 2.1 percent faster than the 1.1 percent drop, offsetting a faster rise in food prices to 1.1 percent from 0.6 percent.

On the Mib, Telecom Italia rises 0.9% after advancing 4.9% to EUR0.2373, rearing its head again after three bearish sessions.

On the day when half-year results are expected Brunello Cucinelli is the second best stock at the start, up 0.7%.

Also doing well are Campari and Moncler, both up 0.6 percent. On the former to report that Jefferies cut its target price on the stock to EUR9.50 from EUR10.50 with a 'hold' recommendation.

Down goes DiaSorin, down 1.3% and sitting on the bottom, while Tenaris gives up 0.7%.

Prysmian drops 0.5%. Worth mentioning that on the stock Citigroup raised its target price to EUR67.50 from EUR62.50 with 'buy' recommendation

Banca Monte dei Paschi di Siena gives up 0.4 percent. The company announced that it has completed the placement of a EUR750 million issue of Social Conditional Pass Through European Covered Bonds with a maturity of 6 years to July 16, 2030, aimed at Italian and foreign institutional investors.

The issue garnered strong interest from Italian and foreign investors with orders exceeding the threshold of EUR1.2 billion allowing the coupon to be set at the level of 3.3750 percent, at a re-offer price of 99.445 percent corresponding to a spread of 65 basis points over the 6-year mid swap rate, a spread lower than that of the bank's previous covered bond issue with a maturity of 5 years.

On the mid-cap, Juventus FC gives up 0.6 percent. The club on Wednesday disclosed that it has reached an agreement with OGC Nice for the outright acquisition of the rights to the sports performance of footballer Khephren Thuram-Ulien for a consideration of EUR20 million, payable in three fiscal years, plus ancillary charges of EUR600,000.

Juventus signed a sports performance contract with the same player until June 30, 2029.

Edison and Webuild -- flat at EUR2.14 -- comnunicated Wednesday that they have signed a programmatic agreement for the development of hydroelectric pumping projects, highly strategic infrastructure for the ecological transition and national energy security.

Under the agreement, Edison and Webuild will enter into close cooperation, for the definition and implementation of projects related to the pumping of Pescopagano in Basilicata and Villarosa in Sicily developed by Edison.

Among the lower-capitalization companies, Mondo TV--not yet affected by trading--on Wednesday announced an agreement to license the CD pay-TV and pay SVOD rights to air Monster Loving Maniacs, the 2D animated series in the 52 x 11mins format sold in more than 130 countries and commissioned by Danish public TV DR and Germany's leading commercial television, SuperRTL.

Avio gives up 0.9%. The company reported that the Ariane 6 launcher successfully made its maiden flight taking off from the French Guiana Space Center, placing multiple payloads into orbit. Avio is contributing to the Ariane 6 program by providing P120C solid-propellant boosters and liquid-oxygen turbopumps for the Vulcain 2.1 main stage motor and the Vinci upper stage motor. The P120C engines have performed very well. In the future, Avio will continue to supply P120C boosters that will be used in a two configuration as for this flight or a four configuration to carry larger loads.

Landi Renzo is flat at EUR0.25. The company has received approval from the banking class to reshape its medium- and long-term financing agreements as part of a capital strengthening operation. The transaction involves the entry of the Fondo Salvaguardia Imprese, promoted by MIMIT and managed by Invitalia into Landi Renzo's shareholder base.

The entry of the new shareholder will take place through a EUR20 million reserved capital increase, promoted together with a further capital increase under option for a total of EUR25 million, guaranteed up to EUR20 million by the majority shareholder Green by Definition. Landi Renzo has received adherence from the banks contracting the pooled financing - Banco BPM, Intesa Sanpaolo and UniCredit - to the proposed financial and capital optimization intervention.

Among SMEs, CrowdFundMe rises 1.0 percent after it reported on Thursday that it reported first-half consolidated revenues of EUR954,000 from EUR717,247 as of June 30, 2023, up 33 percent.

Consolidated revenue stood at EUR18 million compared to EUR16.7 million in the second half of 2023 and EUR15.7 million in the first half of 2023.

Soges Group - down 0.5 percent - announced that it has signed a lease agreement to manage the hospitality business currently named "Hotel Malaspina" in Florence.

Currently, Hotel Malaspina is owned by the company Indipendenza Di Benedetta Torrigiani & C.

In Asia, the Nikkei closed up 0.9 percent to 42,224.02, the Shanghai Composite gained 1.1 percent to 2,970.39, and the Hang Seng picks up 2.0 percent to 17,822.65.

In New York at Wednesday's close, the Dow rallied 1.1 percent to 39,721.36, the Nasdaq rose 1.2 percent to 18,647.45 and the S&P 500 ticked up 1.0 percent to 5,633.91.

Among currencies, the euro changed hands at USD1.0836 from USD1.0827 on Wednesday in closing European equities while the pound was worth USD1.2860 against USD1.2842 on Wednesday evening.

Among commodities, Brent crude trades at USD85.57 per barrel from USD85.31 per barrel at Wednesday's close. Gold, on the other hand, trades at USD2,385.15 an ounce from USD2,360.78 an ounce on Wednesday evening.

Thursday's macroeconomic calendar instead features a BTP auction from Italy at 1110 CEST with maturities of 3, 7, 15 and 30 years.

From the U.S., at 1430 CEST the CPI data and unemployment benefit claims will be due, while at 2230 CEST the Federal Reserve's weekly balance sheet will be released.

No special events are scheduled on the corporate calendar.

By Claudia Cavaliere, Alliance News reporter

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