(Alliance News) – European stock markets continued to trade higher on Thursday, though with a note of caution.

Investors are awaiting guidance from the ECB today regarding interest rate cuts, which are expected to remain unchanged. However, Lagarde’s remarks will be closely scrutinized for hints about future policy moves.

Meanwhile, Eurozone construction output rose by 0.5% year-on-year in October, reversing the 0.3% decline seen in the previous month.

As a result, the Mib is up 0.5% at 44,317.40, the Mid-Cap is 0.6% higher at 58,036.01, the Small-Cap is slightly down at 35,923.50, and Italy Growth is up 0.1% at 8,471.17.

Other major indices are also positive: the CAC 40 is up 0.3%, the DAX 40 is up 0.2%, and the FTSE 100 is up 0.2%.

In Milan, negotiations between Nexi – down 0.4% – and TPG for the sale of clearing and digital corporate banking services from the Dbs–Digital Banking Solutions division have cooled. The U.S. fund had reportedly offered around EUR1.00 billion for the business.

Saipem, up 0.1%, is reportedly in pole position for a new contract worth over USD5 billion in Qatar. According to Upstream, the joint venture with China’s Offshore Oil Engineering Company is favored in QatarEnergy’s North Field Production Sustainability project, ahead of HD Hyundai Heavy Industries, McDermott, and Larsen & Toubro.

Campari has reached a deal to sell the Averna amaro and Zedda Piras mirto di Sardegna brands to Illva Saronno Holding. Shares are up 0.3%. The transaction also involves the creation of a new company to which the Averna and Zedda Piras businesses will be transferred.

For the fourth straight session, the index is being driven by strong performances from banks: BPER Banca, Banca Monte dei Paschi di Siena, and Banca Popolare di Sondrio are all up 1.7%.

Stellantis is at the bottom of the index, down 1.4%.

On the Mid-Cap, LU-VE announced that the LU-VE Nordics cluster has secured a new strategic order in the Swedish data center segment worth SEK81.6 million, approximately EUR7.5 million, strengthening the group’s position in Northern Europe for high-efficiency, sustainable cooling solutions. Shares are up 1.3%.

Sesa closed the first half of fiscal 2026, ending October 31, with a reported net profit of EUR34.4 million, up 19% from EUR28.8 million in the first half of the previous year.

Revenues and other income for the half-year reached EUR1.60 billion, up 12% from EUR1.43 billion in the first half of 2025. Shares are up 1.0% at EUR83.80 each.

Acea, up 0.8%, through its subsidiary a.Quantum, has submitted a binding offer accepted by Algebris Investments to acquire up to 100% of Aquanexa’s share capital. The enterprise value of the transaction for 100% of Aquanexa is estimated at EUR205 million.

OVS – up 3.7% – closed the nine months with all indicators positive and an adjusted pre-tax result of EUR87.8 million, up 22% – or EUR15.6 million – from January-September 2024, when it stood at EUR72.3 million.

On the Small-Cap, Geox approved its 2026 budget on Wednesday, confirming operating margins in line with its 2025-2029 Industrial Plan, although revenues are expected to decline: shares are down 0.2% at EUR0.308 each.

OPS eCom – down 2.0% – announced the launch of OPS Shop, its new proprietary e-commerce portal designed to offer a “simple, secure, and reliable” online shopping experience.

Antares Vision announced the appointment of three new directors. Following the resignations of Stefano De Rosa, Vittoria Giustiniani, and Mariagrazia Ardissone, the board has co-opted Hans Lidforss, Christina Cristiano, and Kimberly Di Maurizio. Shares are up 0.4%.

Beewize is up 17% at EUR0.332 per share.

Among SMEs, Spindox, flat at EUR13.00, reported that BackSpin has surpassed the 90% threshold of its share capital, triggering conditions for delisting from Euronext Growth Milan as part of the mandatory takeover bid by the offeror.

Espe, up 1.4%, announced the signing of a new EUR5.9 million contract to build a 9.7 MWp advanced agrivoltaic plant in Reggio Emilia province, commissioned by a company active in infrastructure projects in Northern Italy and already a client of the group.

expert.ai – down 1.2% – said it has confirmed its consolidated revenue and Ebitda targets for 2025. Specifically, consolidated revenues are confirmed in the EUR37 million to EUR43 million range, in line with the strategic plan to 2026, compared to EUR27.3 million as of December 31, 2024.

Haiki+, up 2.4%, has approved a divisible share capital increase, in several tranches and for cash, for a maximum amount, including share premium, of EUR3 million. The increase, with the exclusion of pre-emptive rights, will involve the issuance of up to 4.5 million new ordinary shares at EUR0.67 each, to be subscribed by January 31, 2026.

In New York, the Dow Jones lost 0.5%, the Nasdaq fell 1.8%, and the S&P 500 dropped 1.2%.

In currency markets, the euro is trading at USD1.1724 from USD1.1749 at Wednesday’s close, while the pound is at USD1.3349 from USD1.3392 last night.

Among commodities, Brent crude is trading at USD59.68 per barrel from USD59.82 per barrel on Wednesday, while gold is valued at USD4,326.15 an ounce from USD4,326.25 an ounce on Wednesday evening.

On Thursday’s economic calendar, the Bank of England’s interest rate decision will be released at 1300 CET.

At 1415 CET, the ECB will issue its monetary policy and interest rate statements.

From 1430 CET, focus will shift to the U.S. labor market, while at 1445 CET, the ECB’s press conference will take place. At 2230 CET, the Fed’s balance sheet will be published in the U.S.

By Michele Cirulli, Alliance News Reporter

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