(Alliance News) - European stock markets on Thursday are moving in a bullish direction, according to the futures market, as investors assess the economic, inflationary and interest rate outlook globally.

In Europe, traders will analyze data on consumer and business confidence in Italy, retail sales in Spain and the Bank of England's latest financial stability report. Thursday will also see the start of the EU leaders' summit in Belgium to appoint top jobs, such as the European Commission, European Council and senior foreign policy representative.

The yen fell slightly again Thursday after hitting 38-year lows against the dollar, putting investors on high alert for possible intervention by Japanese authorities as they await U.S. inflation data that could trigger another round of volatility.

The yen fell to JPY160.87 against the dollar late Wednesday evening -- its lowest level since 1986 -- due to a surge in U.S. Treasury yields.

According to analysts, it is possible that traders will continue to push to see how far the government will act: some said the target is JPY165, while others warned that the cross could reach as high as JPY170.

Thus, the FTSE Mib-after closing down 0.5 percent at 33,541.98 last night-is marking a rise of 72.50 points.

In Europe, London's FTSE 100 is advancing 10.10 points, Frankfurt's DAX 40 is up 13.80 points, and Paris' CAC 40 is up 21.20 points.

Among the smaller lists last night, the Mid-Cap gave up 0.9 percent to 46,880.85, the Small-Cap gave up 0.9 percent to 28,650.89, and Italy Growth gave up 0.1 percent to 8,119.81.

On the Mib last night, among the bullish few, Saipem rallied 2.4% with price at EUR2.29 per share, on its fifth consecutive bullish candle. Of note, Jefferies raised its target price to EUR3.00 from EUR2.75 with 'buy' recommendation.

Good session also for BPER Banca, which brought home a plus 1.1% after the eve's decline.

Eni--in fractional green at EUR14.24--reported on Wednesday the purchase of 2.8 million shares between June 17 and 21, at a weighted average price of EUR13.8543 per share and a total consideration of EUR38.3 million. As a result of these purchases, Eni holds 100.5 million treasury shares equal to 3.1 percent of the share capital.

Pirelli--in the red by 0.2 percent--reported Tuesday that it had completed the placement with international institutional investors of a sustainability-linked bond for a total nominal amount of EUR600 million. The issue was placed with more than 210 international investors and saw demand at more than 4.6 times the supply, which amounted to about EUR2.8 billion.

Banca Monte dei Paschi, on the other hand, gave up 2.2 percent, following up on eve's red 1.8 percent with new price at EUR4.46 per share.

On the Mid-Cap segment, boost on d'Amico International, which moved its price ahead 8.2% to EUR7.12 per share after a 1.2% decline on the eve.

Boost also on Fincantieri, which brought the price ahead 4.3 percent, rebounding after Tuesday's 9.3 percent loss at the close.

Tinexta, among the negative notes, left 2.3 percent on the parterre, following the 2.7 percent loss with which it closed on eve.

Danieli & C gave up 2.9%, following the bearish candle on the eve with a minus 1.4%.

For De' Longhi, on the other hand, the loss was 5.3%, after the 4.6% red on eve.

On the Small-Cap, good session for Digital Bros, which led the price up 5.4 percent to EUR9.11 per share, after a 2.7 percent loss in the previous session.

Landi Renzo, on the other hand, rallied 2.2 percent to EUR0.2790 per share, after a 1.1 percent loss on the eve of the session.

FNM--declining 0.7 percent--reported Tuesday that its board of directors approved the purchase of 2.1 million ordinary shares in Nordcom Spa from the TIM group. These, corresponding to 42 percent of the share capital, thus make FNM the sole shareholder of Nordcom, increasing the stake to 100 percent.

Behind for Bialetti Industrie, in negative balance of 4.5 percent, after two sessions closed with bullish candlestick.

Among SMEs, TrenDevice brought home a profit of more than 11%, following up on eve's profit, albeit copn a more modest 1.6%.

Bellini Nautica--up 1.3 percent--reported Wednesday that it has drafted its new 2024-2027 business plan in order to consider the startup of the business line manned by Bellini Yacht, intended for the production and sale of boats between 36 and 66 feet. In detail, revenues are expected to be EUR19.4-21.5 million in 2024, EUR31.7-35.1 million in 2025, EUR40.9-47.1 million in 2026, and EUR49.7-60.7 million in 2027.

Racing Force -- up 6.4 percent -- reported Wednesday that the EUR7.5 million capital increase launched yesterday through accelerated bookbuilding was fully subscribed at EUR4.43 per share. In detail, Axon Partners Group Investment subscribed EUR5 million while Bahrain Mumtalakat Holding. BSC has committed to EUR2 million. Both have made lock-up commitments with the company of 180 days.

After the aucap, SAYE will continue to be the major shareholder of Racing Force, with a 49.5 percent stake. The company's new capital is EUR2.74 million, divided into 27.4 million ordinary shares.

Among the numerous bearers, Sicily by Car, on the other hand, gave up 9.2 percent, following a 1.4 percent red on the eve of the meeting.

Pozzi Milano, on the other hand, left 4.9% at EUR0.5460 on the parterre, after a 9.6% gain in the previous session.

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

Among the Asian exchanges, the Nikkei gave up 1.0 percent, the Shanghai Composite is giving up 0.8 percent, and the Hang Seng is posting minus 2.0 percent.

Among currencies, the euro changed hands at USD1.0695 from USD1.0681 on Wednesday in European equities closing while the pound is worth USD1.2639 from USD1.2621 on Wednesday evening.

Among commodities, Brent crude is trading at USD85.21 per barrel from USD84.58 per barrel at Wednesday's close. Gold, on the other hand, trades at USD2,299.07 an ounce from USD2,299.26 on Wednesday evening.

Thursday's macroeconomic calendar includes from Istat at 1000 CEST the level of business and consumer confidence, while at 1100 CEST it will be the turn of the PPI.

From the Eurozone, at 1100 CEST, industrial and consumer sentiment is due, followed ten minutes later by an auction of BTPs with 5- and 10-year maturities.

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.

Among companies listed in the U.S., no events are scheduled to take place.

By Maurizio Carta, Alliance News reporter

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