(Alliance News) - European marketplaces traded bullish on opening Thursday, with MIlano joining the positive trend with the main list above 27,300. Trading venues weighed new U.S. inflation data as they await the Bank of England's late morning monetary policy decision that is expected to see the cost of money raised by an additional 25 basis points.

The annual U.S. inflation rate slowed to 4.9 percent in April, the lowest since April 2021, from 5.0 percent in March and below forecasts of 5.0 percent. The data were released Wednesday by the U.S. Bureau of labor statistics, which also noted that on a monthly basis the CPI rose 0.4 percent, much more than the 0.1 percent increase in March, but in line with market expectations.

On the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate, or EFFR, the confirmation of the rate at the June 14 meeting has a 92 percent probability priced in for confirmation in the 500/525 bps range. In contrast, the 25 bps hike in the 525/550 bps target is priced at 8 percent

Thus, the FTSE Mib marks a gain of 0.3 percent to 27,339.39.

In Europe, Paris' CAC 40 advances 0.8 percent, the FTSE 100 is up 0.5 percent, and Frankfurt's DAX 40 marks a green 0.3 percent.

Among the smaller lists, the Mid-Cap is up 0.4 percent to 43,118.95, the Small-Cap is advancing with 0.1 percent to 28,494.41, and Italy Growth is picking up 0.1 percent to 9,120.37.

On the Mib, purchases on Moncler, with the stock advancing 1.1% to EUR66.32 per share rearing its head again after five bearish sessions.

Banca Monte dei Paschi also advances well, posting a plus 1.4 percent. The board of directors on Tuesday said it approved results for the year to March 31, in which revenues were EUR878.9 million, up 12 percent from EUR786.2 million in the first quarter of the previous year. Net income was EUR236 million, up 51 percent from EUR156 million in the same period last year.

High quarters also for another banker, BPER Banca, which is rallying 1.1 percent bringing its price to EUR2.7610 per share.

Snam -- up 0.1 percent -- reported Thursday that first-quarter net income fell to EUR304 million from EUR312 million in the same period a year earlier. The adjusted figure shows a decrease to EUR301 million from EUR325 million in last year's first quarter.

Among the few negative notes was Iveco, which is currently giving up 2.2 percent. The company on Thursday reported that it closed the first three months of 2023 with a profit of EUR10 million compared with a loss of EUR15 million in the same period last year. Adjusted diluted earnings per share were EUR0.21, up EUR0.06 from the first quarter of 2022.

On the cadet segment, Tod's advances 4.2% with price at EUR39.88. The stock benefits - in addition to good first quarter accounts - from a target price increase by Goldman Sachs and JP Morgan.

Intercos, on the other hand, advances 1.7 percent to EUR115.50 per share, rearing its head after three sessions closed among the bearish.

At the tail end, Industrie de Nora, on the other hand, gives up 6.1 percent to EUR16.98 per share. The company reported Thursday that first-quarter net income fell to EUR25 million from EUR26.5 million in the same period a year earlier.

Rear-views also for Saras, which posted minus 2.1 percent after a 5.5 percent green on the eve.

On the SmallCap, Italian Exhbition advances 3.2 percent, on the day when first-quarter accounts are expected.

Giglio Group, on the other hand, marks a plus 2.9 percent, giving ground after two sessions in the negative.

Italian Sea Group, on the other hand, closes the list contracting 4.3 percent in the wake of yesterday's downturn, albeit by 0.6 percent. During the first three months of 2023, TISG reported revenues of EUR85 million, up 23 percent from EUR69 million in the same period of 2022. Operating revenues of EUR80.8 million grew by 17% compared to the same period in 2022.

Also at the tail end is Aeffe, which posted a minus 3 percent. The board of directors released its results for the first quarter of the year on Wednesday, reporting a net loss of EUR300,000 from a profit of EUR8.9 million in the same period of 2022.

Among SMEs, in a still little-moving list, Frendy Energy advances 10 percent, replicating eve's bullish profit.

Bifire, on the other hand, marks a plus 2.9 percent, contracting after the 3.4 percent red on eve.

Finanza.tech closes the list, which by giving up 3.8 percent places the price in the EUR0.8060 area.

Allcore, on the other hand, gives up 3.5 percent after the previous two bullish sessions.

In New York overnight Europe, the Dow Jones gave up 0.1 percent, the Nasdaq advanced 1.0 percent, and the S&P 500 closed in the green by 0.5 percent.

Among the Asian exchanges, the Hang Seng is giving up 0.1 percent, the Shanghai Composite stepped back 0.3 percent, while it closed just above parity.

Among currencies, the euro changed hands at USD1.0972 versus USD1.0972 at Wednesday's close. In contrast, the pound is worth USD1.2619 from USD1.2615 on Wednesday evening.

Among commodities, Brent crude is worth USD77.14 per barrel versus USD76.82 per barrel on Wednesday evening. Gold, on the other hand, trades at USD2,032.29 an ounce from USD2,023.19 an ounce at Wednesday's close.

On Thursday's macroeconomic calendar, the Thomson Reuters Ipsos Global Monthly Primary Consumer Sentiment Index for Italy, France, and Germany will be released at 1200 CEST.

At 1300 CEST the Bank of England will release its interest rate decision, and at 1300 CEST the OPEC monthly report will be released.

In the afternoon, at 1430 CEST from the US will come the producer price index the unemployment data.

In Piazza Affari the results of A2A, Banca Generali, Banca Ifis and BFF Bank, among others, are expected.

By Maurizio Carta, Alliance News reporter

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