(Alliance News) - Indices up, as expected, at the start of trading Thursday in European markets, driven by the good performance of the U.S. and Asian stock markets. Influencing investor sentiment was the Fed's decision to take a second pause on the rate hike, announced last night, and the gradual decline in U.S. bond yields.

"The Bank of England is the next major central bank to announce its rate decision today, and the British are not expected to raise interest rates at today's meeting. Instead, an increase in forbearance in the face of inflation above 2 percent is expected," comments Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank. "This is not good for central bank credibility, least of all when the BoE's credibility is not at its highest level since the start of this tightening cycle. If investors perceive that the BoE will let inflation overheat, for lack of a choice, the pound could take a hit."

Thus, the FTSE Mib opens up 1.1 percent to 28,302.55, the Mid-Cap is in the green 0.8 percent to 39,030.24 , the Small-Cap advances 0.7 percent to 24,682.78, and Italy Growth is up 0.1 percent to 7,674.80.

In Europe, London's FTSE 100 opens up 1.0 percent as does Paris' CAC 40 and Frankfurt's DAX 40.

On the main list of Piazza Affari, Tenaris does best of all with a 7.8 percent rise after announcing Wednesday night its results for the third quarter of the year and the first nine months, with a new buyback of up to USD1.2 billion. In addition, the board of directors approved the payment of an interim dividend.

As for the third quarter, the group reported net income of USD547 million, down from USD608 million in the same period of 2022, with earnings per share of USD0.46 from USD0.51 in the third quarter of the previous year. Net sales were USD3.24 billion, up 9 percent from USD2.98 billion in the same period of 2022.

Iveco remains at the tail end and, after giving up 9.0 percent at the close, opens down 0.2 percent, the only bearish stock on the entire list. The board reported Wednesday that it closed the third quarter with adjusted net income of EUR84 million, compared with EUR54 million in the third quarter of 2022. Adjusted diluted earnings per share were EUR0.28, up EUR0.18 from Q3 2022. Consolidated revenues were EUR3.8 billion, up 6.7 percent.

CNH Industrial -- in the green by 1.9 percent -- reported Wednesday that it bought 689,610 of its own shares between October 23 and 27. The shares were purchased at an average price of about EUR10.41 for a total value of EUR7.2 million.

On the Mid-Cap, Lottomatica Group takes the top spot with 3.5 percent after announcing Thursday that GBO Spa, a wholly owned subsidiary of Lottomatica, signed an agreement to acquire 100 percent of the share capital of SKS365 Malta Holdings Limited.

SKS365 has been valued in the context of this transaction with an Enterprise Value of EUR639 million.

The transaction will be financed through a combination of available cash and additional debt, for which Lottomatica has already obtained a EUR500 million commitment in the form of a bridge debt facility.

Iren opens down 0.3 percent. The company has received notice from the management board of Egea Spa that its binding offer, submitted as part of the procedure called for the acquisition of the company's assets and shareholdings, has been deemed complete, satisfactory and suitable for the valorization and revitalization of the company's assets and has therefore been accepted, resulting in the start of exclusive negotiations between the parties as part of the negotiated procedure for managing the crisis of the Egea group.

Banca Ifis - in the green by 1.4 percent - and Mediobanca Group announced Tuesday that they had finalized the long-term partnership signed last May for the management of impaired loans.

Carel Industries -- up 2.2 percent -- reported Tuesday that revenues for the first nine months rose 24 percent year-on-year to EUR497.2 million from EUR401.1 million in the same period a year earlier. Excluding the change in scope related to acquisitions of EUR52.1 million and the negative foreign exchange effect of EUR6.8 million, the increase would have been 13 percent.

On the Small-Cap, Giglio Group advances 13 percent and is suspended for excess volatility after announcing Wednesday that on Oct. 31 it sold the entire share capital of its wholly owned subsidiary, IBox SA, a Swiss-registered company, to FuTureScape Sagl, also a Swiss-registered company.

The transaction involves the sale of shares with a total value of nearly EUR5.9 million.

Fidia, down 1.2 percent, informed Tuesday evening that its board of directors reviewed and updated the business plan approved in March. With regard to revenues, it expects a limited reduction in revenues for fiscal year 2023 from EUR30.1 million to EUR28.9 million, "which, however, at the level of added value implies a reduction of EUR148,000 compared to the originally planned figure," the company note said.

BasicNet--green by 0.8 percent--reported Tuesday that the board of directors reviewed results for the first nine months, during which revenues grew 5.3 percent to EUR297.5 million from EUR282.6 million in the same period of 2022. Ebitda increased to EUR44.7 million from EUR44.1 million, a minimal change to positive 1.3 percent.

Among SMEs, no trades on Ecosuntek, which reported on Tuesday that Eco Trade Srl, a 63.40 percent subsidiary, finalized the purchase of a 46.775 percent stake in +Energia Spa for a total of EUR23.0 million. The transaction had already been announced to the market in previous months.

NVP is not yet interested in trading. On Tuesday it reported revenues up 57 percent year-on-year to EUR19.5 million from EUR12.4 million in the first nine months. The scope of consolidation includes subsidiaries EG Audiovisivi Srl and Produzioni Italia Srl, the latter from Sept. 14, 2023, which contributed revenues of EUR500,000, entirely generated in Italy.

In Asia, the Nikkei ended up 1.2 percent at 31,949.89, the Hang Seng closed in the green 0.9 percent at 17,239.00, and the Shanghai Composite ended down 0.5 percent at 3,009.41.

In New York on European night, the Dow closed up 0.7 percent to 33,274.58, the Nasdaq finished up 1.6 percent to 13,061.47 and the S&P 500 closed up 1.1 percent to 4,237.86.

Among currencies, the euro changed hands at USD1.0597 against USD1.0542 recorded in Tuesday's European equities close, while the pound was worth USD1.2164 from USD1.2137 last night.

Among commodities, Brent crude is worth USD85.86 per barrel from USD86.71 per barrel at yesterday's close. Gold, meanwhile, trades at USD1,986.15 an ounce from USD1,986.37 an ounce last night.

Thursday's macroeconomic calendar includes Germany's employment data, due at 0955 CET, and the Bank of England's decision, due at 1300 CET.

In the afternoon, from the U.S., focus on U.S. durable goods and jobless claims, at 1330 CET, and natural gas inventories, arriving at 1530 CET. The day will close with the Federal Reserve's balance sheet, due at 2130 CET.

By Chiara Bruschi, Alliance News reporter

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