(Alliance News) - European stock markets are moving cautiously on Thursday, with trading rooms carefully assessing the positions of central banks in the Eurozone, UK and US. These - at the conference organized in Portugal by the ECB - confirmed their "hawkish" stance.

Fed Chairman Powell's comments indicated a high probability of another interest rate hike in July, while ECB members' remarks suggest a continuation in the aggressive tightening of monetary policy for the coming months.

Just on the monetary tightening side, as disclosed by the ECB on Wednesday, the 12-month growth rate of the broad monetary aggregate M3 fell to 1.4 percent in May 2023 from 1.9 percent in April, averaging 1.9 percent in the three months to May.

The 12-month growth rate of the narrower M1 aggregate-which includes working capital and overnight deposits-was minus 6.4 percent in May, down from minus 5.2 percent in April. Finally, the monetary aggregate M2 posted annual growth of 0.3 percent in May, up from 0.9 percent in April.

Thus, the FTSE Mib is up 0.5% to 27,777.91.

Last night the Mid-Cap is giving up 0.1% to 42,295.26, the Small-Cap is giving up 0.1% to 26,696.80, and Italy Growth is giving up 0.1% to 9,024.22.

In Europe, London's FTSE 100 gives up 0.2 percent, Paris' CAC 40 rises 0.1 percent, and Frankfurt's DAX 40 is just below par.

On the highest-capitalization list in Piazza Affari, Saipem is off to a good start, advancing 2.4 percent. The company announced Wednesday that it has been awarded two new contracts, one for offshore EPCI activities in the Middle East and the other for the development of undersea drones in Brazil, worth a total of about USD1 billion.

Strength also on Tenaris, which advances 1.9% to EUR13.18. Jefferies initiated coverage of the stock with a target price at EUR19.00.

Banco BPM, on the other hand, advances 1.5 percent, heading for the third session to close on the bullish side.

Prysmian Group -- down 0.2 percent -- reported Thursday that it has reached an important milestone with Eastern Green Link 2 Limited, a joint venture between SSEN Transmission and National Grid Electricity Transmission PLC, owners of the electric transmission systems in the UK. Following Prysmian's selection in May as the exclusive preferred bidder, the commitment includes the payment of EUR180 million to ensure Prysmian Group's continued availability of capacity to build the Eastern Green Link 2 cable connection during the remaining negotiation period aimed at finalizing the contract in a timely manner.

On the cadet segment, strength on LU-VE, which scores a plus 2.6 percent, trailing eve's gain by a tentative 0.6 percent.

Datalogic, meanwhile, advances 1.7 percent to EUR7.0650. The stock -- which detached its dividend last month -- since the beginning of the year marks a loss of about 16 percent.

Credito Emiliano, on the other hand, advances 1.3%, with new price at EUR7.20 per share, with Jfferies on Wednesday upgrading its recommendation to 'buy' from 'hold' and confirming the target price at EUR8.90.

At the tail end GVS steps back 3.0 percent to EUR5.3950. On the stock, JPMorgan Asset Management raised its short position on the stock to 0.71% from 0.6% previously.

On the Small-Cap, Beewize pushes by moving ahead 4.6%, following up the previous two sessions with a bullish aggregate of more than 13%.

LVenture Group and Digital Magics have approved the merger plan, creating the Italian leader dedicated to investing in start-ups and open innovation. In detail, Digital Magics shareholders will receive 46 shares of LVenture for every five shares held, holding 63 percent of its capital, while LVenture shareholders will hold 37 percent. In addition, a framework agreement was signed to govern the transaction and a shareholders' agreement was signed to regulate the relationship between the major shareholders of the merged company. LVenture then resolved to launch a EUR2.5 million capital increase reserved for LUISS Guido Carli University.

LVenture posted a green of 0.3 percent while Digital Magics--on the Italia Growth list--advanced 0.6 percent.

High quarters also for Conafi, which moves ahead 4.0 percent on the heels of eve's 1.5 percent green. The company-which did not pay a dividend this year-shows a flat trend on the weekly.

Among SMEs, Finanza.Tech moves ahead 6.1% and price at EUR0.9340. The stock over the past month has increased its market cap by nearly 38 percent.

Askoll Eva, on the other hand, advances 5.3 percent, after eve's 2.1 percent decline.

Svas Biosana--flat at EUR7.60--reported on Wednesday that the board of the parent company and its subsidiary Mark medical Spa resolved to issue two bonds of EUR10 million and EUR3 million, respectively.

High Quality Food, on the other hand, gives up 3.8 percent, repeating the red of the eve closed with minus 1.9 percent.

In New York on European night, the Dow closed down 0.2 percent, the Nasdaq up 0.3 percent, and the S&P 500 closed just below par.

In Asia, the Nikkei picked up 0.1 percent, the Hang Seng is giving up 1.7 percent, while the Shanghai Composite left 0.2 percent on the sidelines.

Among currencies, the euro changed hands at USD1.0906 versus USD1.0955 at Wednesday's European equities close. In contrast, the pound is worth USD1.2635 from USD1.2613 last night.

Among commodities, Brent crude is worth USD73.67 per barrel versus USD73.03 per barrel at Wednesday's close. Gold, meanwhile, trades at USD1,903.56 an ounce from USD1,909.22 an ounce on Wednesday evening.

Thursday's macroeconomic calendar features the European Central Bank's monthly report at 1000 CEST, coming half an hour before UK consumer credit data. For the Eurozone, eyes on household and business confidence data, coming at 1100 CEST.

In the afternoon, at 1300 CEST, Spanish business confidence data will be released. In the US, meanwhile, focus on jobless claims and Gross Domestic Product, due at 1430 CEST, and gas inventories, expected at 1630 CEST.

Among the companies in the Piazza Affari, the semi-annual financial statements of I Grandi Viaggi are expected.

By Maurizio Carta, Alliance News senior reporter

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