La vendita allo scoperto per iShares Inc iShares MSCI Italy ETF dà agli investitori un'idea del grado in cui gli investitori stanno scommettendo sul declino delle azioni di iShares Inc iShares MSCI Italy ETF. I dati relativi alle vendite allo scoperto vengono aggiornati ogni due settimane.

iShares Inc iShares MSCI Italy ETF (ARCA:EWI), Report sulle vendite allo scoperto

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The fund will at all times invest at least 80% of its assets in the securities of its underlying index and in depositary receipts representing securities in its underlying index. The underlying index is a free float-adjusted market capitalization-weighted index with a capping methodology applied to issuer weights so that no single issuer exceeds 25% of the underlying index weight, and all issuers with a weight above 5% do not cumulatively exceed 50% of the underlying index weight. The fund is non-diversified.

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PRECICE study, financed by the Umberto Veronesi Foundation and the Italian Ministry of Health, is led by multidisciplinary collaborators including breast surgeons, interventional radiologists, and breast imaging and pathology specialists
PRECICE is exclusively using ProSense&#xAE; to treat all 233 Luminal A and B patients &gt;50 years of age with early-stage breast cancer, a wider population of patients than ICE3 &nbsp;
Article published in European Journal of Cancer Prevention describes the PRECICE study and presents the role of cryoablation in the move toward de-escalation of surgical treatment
CAESAREA, Israel, Nov. 19, 2024 /PRNewswire/ -- <a href="https://icecure-medical.com/">IceCure Medical Ltd.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICCM#NASDAQ">ICCM</a>) ("IceCure", "IceCure Medical" or the "Company"), developer of minimally-invasive cryoablation technology that destroys tumors by freezing as an alternative to surgical tumor removal, today announced the publication of an <a href="https://journals.lww.com/eurjcancerprev/citation/9900/cryoablation_of_early_breast_cancer__the_challenge.185.aspx">article</a>&nbsp;titled "Cryoablation of early breast cancer: the challenge towards de-escalation of surgical treatment" in the European Journal of Cancer Prevention.
The article, authored by breast surgeons and interventional radiologists including Director of Interventional Radiology at the European Institute of Oncology in Milan, Italy, Franco Orsi, MD, presents a review of recent studies and literature on cryoablation of breast cancer, stating:
"The scientific assumption moving researchers is that cryoablation could represent a precise and safe alternative to the surgery itself for a selected subgroup of women."
The article highlights the Percutaneous Cryoablation of Low-risk Early Breast Cancer (<a href="https://clinicaltrials.gov/study/NCT06300125">PRECICE</a>) study, led by Principal Investigator, Dr. Orsi. PRECICE is an independent prospective observational 233 patient study that has commenced the enrollment of women 50 years of age and older with unifocal, small (up to 15 mm in diameter), clinically node-negative, luminal A and B breast cancer.
The PRECICE study, which will exclusively use ProSense&#xAE; to conduct all procedures, will evaluate the technical effectiveness of cryoablation with a median follow-up of five years (with early primary and secondary outcomes after three years). The procedure failure rate will be evaluated for possible residual tumor by mammography, ultrasound, and nuclear MRI at two months before radiotherapy and six months after radiotherapy. If relapse is suspected, an image-guided breast biopsy will be performed. Additional endpoints including quality of life, psychological impact, and economic outcomes will also be evaluated.

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IceCure's ProSense Chosen For Breast Cryoablation Study Led By The European Institute Of Oncology With Sponsorship From The Italian Ministry Of Health

Gold futures climbed 1.6% on Monday morning in New York, on track to snap a <a href="https://www.benzinga.com/markets/commodities/24/11/42036300/go-for-gold-says-goldman-sachs-precious-yellow-metal-price-would-rise-in-2025-amid-central-bank-buying-fed-rate-cuts">six-session losing streak</a>.
The yellow metal&#8217;s surge came on the heels of escalating rhetoric from Moscow after reports indicated that President Joe Biden had authorized Ukraine to launch strikes on Russian territory using American-made long-range missiles.
This marks a significant policy shift by the outgoing administration ahead of Donald Trump's January inauguration.
See Also: <a href="https://www.benzinga.com/general/space/24/11/42033393/spacexs-gwynne-shotwell-sees-starlink-becoming-profitable-in-2024-bets-on-starship-making-it-one-of-the-most-valuable-companies-amid-reports-of-tender-offer-valuing-it-over-250b">SpaceX&#8217;s Gwynne Shotwell Sees Starlink Becoming Profitable In 2024</a>
Such strikes would represent "a qualitatively new round of tension" with the U.S., Dmitry Peskov, a spokesperson for Russian President Vladimir Putin, said per Reuters.
In September, Putin had already declared that the U.S.&#8217;s allowing Ukraine to fire Western missiles into Russian territory would mean NATO's direct participation in the war.
On Monday, Peskov reiterated this stance, accusing the Biden administration of &#8220;adding fuel to the fire&#8221; as its term winds down.
Reports confirmed that thousands of North Korean troops have been deployed to Russia's Kursk region to aid Moscow's forces following a Ukrainian incursion.
The rally in gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), mirrored gains across the broader commodity complex, with oil and natural gas prices also advancing.
Futures on West Texas Intermediate (WTI) crude oil rose 0.8%, while Henry Hub U.S. natural gas futures surge by nearly 4% amid concerns over energy disruptions in Europe.
On Saturday, Gazprom, the state-controlled Russian natural gas giant, halted supplies to Austria, heightening fears of energy shortages in Europe as the winter season approaches. The decision followed Friday's rare hour-long phone call between German Chancellor Olaf Scholz and Putin, their first direct communication in nearly two years.
<h3 class="wp-block-heading">Risk-Off Sentiment Hits European Markets</h3>
The heightened geopolitical risks weighed on European equities Monday. 
The Euro Stoxx 50, broadly tracked by the SPDR DJ Euro STOXX 50 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>), fell 0.7%, while Italy's FTSE MIB, tracked by the iShares MSCI Italy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWI#NYSE">EWI</a>), was the hardest hit among major indices, sliding 1%. 
A hour ahead the Wall Street market open, futures on major U.S. indices hovered near flat, signaling caution among investors hesitant to buy the dip after last week&#8217;s declines.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500 index, fell a combined 1.9% on Thursday and Friday as hawkish comments from Fed Chair Jerome Powell and uncertainty surrounding Donald Trump&#8217;s potential economic policies dampened investor sentiment.
Read Now:
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<li><a href="https://www.benzinga.com/etfs/24/11/42018463/trumps-post-election-rally-fades-dollar-surges-to-over-1-year-highs-powell-puts-december-interest-rate-cut-into-question-this-week-in-the-market">Trump&#8217;s Post-Election Rally Fades, Dollar Surges To Over 1-Year Highs, Powell Puts December Interest Rate Cut Into Question: This Week In The Market</a></li>
</ul>
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Gold, Natural Gas Prices Rally As US-Russia Tensions Escalate Over Ukraine's Long-Range Strikes

WIIM

Shares of Europe-related ETFs are trading lower after Donald Trump wins the 2024 presidential election.

<a href="https://www.reuters.com/markets/deals/stellantis-course-secure-italian-approval-comau-stake-sale-2024-10-09/" title="https://www.reuters.com/markets/deals/stellantis-course-secure-italian-approval-comau-stake-sale-2024-10-09/">https://www.reuters.com/markets/deals/stellantis-course-secure-italian-approval-comau-stake-sale-2024-10-09/</a>

Legal

STLA

'Italy's Cabinet Has Approved Comau Stake Sale By Stellantis With Prescriptions' - Reuters News

INDA

US State Dept Approves Potential Sale Of Torpedoes To India For $175M; Approves Potential Sale Of Electronic Attack Mission System To Italy For $680M; Approves Potential Sale Of Radar System To Romania For $110M

NVAX

World Organization For Animal Health Says Hungary And Italy Report Farm Outbreaks Of Highly Pathogenic H5N1 Bird Flu

MSFT

Microsoft To Invest €4.3 Billion To Strengthen AI Infrastructure And Cloud Capacity In Italy

Macro Economic Events

Economics

iShares MSCI Israel Capped Investable Market Index Fund

ISRA

White House Says President Biden Spoke To Leaders Of France, Germany, Italy, And United Kingdom To Discuss Middle East, Gaza Ceasefire

<a href="https://www.reuters.com/business/italy-seizes-84-million-euros-gxo-logistics-over-alleged-tax-fraud-2024-07-02/#:~:text=ROME%2C%20July%202%20(Reuters),prosecution%20documents%20showed%20on%20Tuesday.">https://www.reuters.com/business/italy-seizes-84-million-euros-gxo-logistics-over-alleged-tax-fraud-2024-07-02/#:~:text=ROME%2C%20July%202%20(Reuters),prosecution%20documents%20showed%20on%20Tuesday.</a>
Italy's tax police have seized almost 84 million euros ($90 million) from GXO Logistics' <a href="https://www.reuters.com/markets/companies/GXO.N">(GXO.N), opens new tab</a> Italian unit following an investigation into alleged tax fraud, prosecution documents showed on Tuesday.
In a 154-page decree, the Milan Prosecutors' Office accused the U.S. logistics giant of circumventing labour and tax laws, relying on cooperatives or limited liability companies that supplied workers while omitting tax and social security payments.
A GXO spokesperson confirmed the company was under investigation in Milan over its "relationship with certain cooperatives", and was "actively cooperating with the public prosecutor".
"GXO fully complies with all applicable laws (...), has rigorous controls and procedures in place," and directly employs thousands in Italy, representing the majority of its staff in the country, the spokesperson added.
Prosecutors said GXO Italy, sometimes using intermediaries acting as filters, used "bogus procurement contracts for the provision of services" with these cooperatives or companies that were a front for cheap labour, and made false tax declarations.
Prosecutors denounced it as a "fraudulent" business model that "facilitates the exploitation of workers and results in unfair competition", adding it has been common malpractice in Italy for years, if not decades.
Similar investigations on irregular hiring schemes have targeted other large businesses in recent years including global delivery groups DHL and GLS, German logistics firm DB Schenker and Italian supermarket chain Esselunga, Milan prosecutors said.

'Italy Seizes €84 Million From GXO Logistics Over Alleged Tax Fraud' - Reuters News

<a href="https://www.reuters.com/technology/eu-court-backs-google-amazon-airbnb-italian-rule-dispute-2024-05-30/" title="https://www.reuters.com/technology/eu-court-backs-google-amazon-airbnb-italian-rule-dispute-2024-05-30/">https://www.reuters.com/technology/eu-court-backs-google-amazon-airbnb-italian-rule-dispute-2024-05-30/</a>

Tech

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AMZN

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GOOGL

Reuters Reported Google, Amazon, Airbnb Win EU Court Backing In Italian Rule Dispute Involving Requirement For Companies To Provide Information On Themselves

European equities ended Monday broadly positive, while the U.S. market was closed for <a href="https://www.benzinga.com/24/05/39027079/is-the-us-stock-market-open-on-memorial-day-why-the-s-p-500-could-end-the-year-on-a-high-note">the Memorial Day holiday. </a>
Traders maintained an overall positive risk sentiment on European assets, driven by near-total certainty that the European Central Bank (ECB) will deliver a rate cut at its June meeting.
Three key ECB members — chief economist Philip Lane, Finland Central Bank governor Olli Rehn and France Central Bank governor François Villeroy de Galhau — made reassuring statements indicating a rate cut is imminent.
<ul>
<li>&#8220;A June rate cut is appropriate if the inflation outlook holds,&#8221; Lane said. </li>
<li>&#8220;Inflation is converging to our 2% target in a sustained way, making it the right time in June to ease the monetary policy stance and start cutting rates,&#8221; Rehn said. </li>
<li>&#8220;Barring a surprise, a June rate cut is a done deal,&#8221; Villeroy said. </li>
</ul>
Traders now almost fully price in a June rate cut and expect a total of 65 basis points in cuts (more than two cuts but less than three) by the end of the year.
The euro, as tracked by the Invesco CurrencyShares Euro Currency Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>), inched 0.1% higher to 1.0840. 
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major European Indices</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th class="has-text-align-center" data-align="center">Country</th>
<th>US-Based ETF</th>
<th>Price</th>
<th>1-day %chg</th>
</tr>
</thead>
<tbody>
<tr>
<td class="has-text-align-center" data-align="center">Spain – IBEX 35</td>
<td>iShares MSCI Spain ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWP#NYSE">EWP</a>)</td>
<td>11,335</td>
<td>0.79%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Italy – FTSE MIB </td>
<td>iShares MSCI Italy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWI#NYSE">EWI</a>)</td>
<td>34,751</td>
<td>0.75%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">France – CAC 40</td>
<td>iShares MSCI France Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWQ#NYSE">EWQ</a>)</td>
<td>8,142</td>
<td>0.62%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">EU – Euro Stoxx 50</td>
<td>iShares Europe ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEV#NYSE">IEV</a>)</td>
<td>5,065</td>
<td>0.58%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Germany – DAX </td>
<td>Global X Dax Germany ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAX#NYSE">DAX</a>)</td>
<td>18,793</td>
<td>0.53%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers In Europe</h3>
Monday&#8217;s top performers on the Euro Stoxx 50 index included:
<ul>
<li>RWE AG (OTCPK: RWEOY) +2.55%</li>
<li>Bayer AG (OTCPK: BAYRY) +2.32%</li>
<li>Volkswagen AG (OTCPK: VWAGY) +1.65%</li>
<li>Enel Società per Azioni (OTCPK: ENLAY) +1.6%</li>
<li>Iberdrola S.A. (OTCPK: IBRDY) +1.5%</li>
<li>Eni S.p.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/E#NYSE">E</a>) +1.38%</li>
</ul>
European pharma giant Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) and France luxury powerhouse LVMH-Moet Hennessy Louis Vuitton (OTCPK: LVMUY) closed 0.9% lower and 0.8% higher, respectively. 
Dutch chipmaker firm ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) closed 0.2% higher, notching the third straight session of gains. 
Among carmakers, Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) rose 1.5%. Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>) closed up 0.7%, positively reacting to its victory in Sunday's Formula 1 Grand Prix in Monte Carlo.
Among major banks, UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) outperformed, up 1%. 
Read now: <a href="https://www.benzinga.com/news/24/05/39028061/alibaba-signs-david-beckham-as-global-brand-ambassador-for-e-commerce-platform">Alibaba Signs David Beckham As Global Brand Ambassador For E-Commerce Platform</a>
Photo via Shutterstock.

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European Equities Close Higher As Traders Bank On Imminent ECB Rate Cut: What's Driving Markets Monday?

Asset Sales

Italy To Sell About 92M Shares Of ENI For About €1.4 Billion

TIM to integrate Oracle Cloud Infrastructure into its managed cloud services
Agreement will enable public and private sector organizations to take advantage of OCI's high performance, built-in security, powerful data and AI, as well as distributed and sovereign cloud capabilities
TIM to host Oracle's second cloud region in Italy in its network of datacenters
MILAN and AUSTIN, Texas, May 2, 2024 /PRNewswire/ -- Oracle and TIM today announced a collaboration to support the increasing demand for cloud services in Italy from public and private sector organizations. As part of the agreement, TIM's business unit dedicated to businesses and the public sector, TIM Enterprise, will integrate <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4156906-1&amp;h=3838737370&amp;u=https%3A%2F%2Fwww.oracle.com%2Fcloud%2F&amp;a=Oracle+Cloud+Infrastructure">Oracle Cloud Infrastructure</a> (OCI) into its portfolio. In addition, TIM will become the host partner for Oracle's second planned cloud region in Italy, which will be located in Turin and hosted in TIM Group's reliable, next-generation datacenter.
Part of Oracle's <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4156906-1&amp;h=4186197701&amp;u=https%3A%2F%2Fwww.oracle.com%2Fcloud%2Fdistributed-cloud%2F&amp;a=distributed+cloud">distributed cloud</a>&nbsp;strategy, the upcoming Oracle Cloud Turin Region will provide public and private sector organizations access to a wide range of cloud services to migrate all types of workloads from their data centers to OCI, modernize their applications, and innovate with data, analytics, and AI. Oracle is the only hyperscaler capable of delivering AI and a full suite of 100+ cloud services across dedicated, public, and hybrid cloud environments, anywhere in the world. This includes <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4156906-1&amp;h=3086865857&amp;u=https%3A%2F%2Fwww.oracle.com%2Fautonomous-database%2F&amp;a=Oracle+Autonomous+Database">Oracle Autonomous Database</a>,&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4156906-1&amp;h=2712632357&amp;u=https%3A%2F%2Fwww.oracle.com%2Fmysql%2F&amp;a=MySQL+HeatWave+Database+Service">MySQL HeatWave Database Service</a>,&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4156906-1&amp;h=2249827382&amp;u=https%3A%2F%2Fwww.oracle.com%2Fcloud%2Fcloud-native%2Fcontainer-engine-kubernetes%2F&amp;a=Oracle+Container+Engine+for+Kubernetes">Oracle Container Engine for Kubernetes</a>,&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4156906-1&amp;h=1616262463&amp;u=https%3A%2F%2Fwww.oracle.com%2Fcloud%2Fcompute%2Fvmware%2F&amp;a=Oracle+Cloud+VMware+Solution">Oracle Cloud VMware Solution</a>, <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4156906-1&amp;h=2482330993&amp;u=https%3A%2F%2Fwww.oracle.com%2Fartificial-intelligence%2Fgenerative-ai%2Fgenerative-ai-service%2F&amp;a=OCI+Generative+AI+service">OCI Generative AI service</a>, and&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4156906-1&amp;h=1325155418&amp;u=https%3A%2F%2Fwww.oracle.com%2Fai-infrastructure%2F&amp;a=AI+infrastructure">AI infrastructure</a>.
With the new cloud region in Turin and the existing Oracle Cloud Milan Region, Oracle will enable customers in Italy to both enhance their business continuity by replicating workloads to distributed locations, while helping address their digital sovereignty and compliance requirements by keeping replicated data in Italy. The upcoming Turin region will be collocated in one of the datacenters in TIM Enterprise's network of 16 datacenters in Italy, which has been developed to the highest technological, security, and environmental standards, and proven to meet the requirements of public and private sector organizations.
"We are pleased to be working with Italy's leading telecommunications provider to bring OCI to public and private sector organizations and support their migration to the cloud,"&nbsp;said Richard Smith, executive vice president and general manager, EMEA Cloud Infrastructure, Oracle. "By adding OCI to its robust cloud service offerings, TIM Enterprise will be able to provide a cloud platform used by customers all over the world to run their most mission-critical workloads in the cloud. In addition, with the upcoming second cloud region in Italy, we are reaffirming our commitment to helping Italian organizations of all sizes and industries accelerate the adoption of AI and other innovative technologies."
"Our collaboration with Oracle is an important milestone for TIM Enterprise and reinforces our commitment to providing innovative, sustainable and secure cloud solutions to public and private sector organizations in Italy," said Elio Schiavo, chief enterprise &amp; innovative solutions officer, TIM. "Our cloud proposition is enriched by the major global players in the industry and is a strong foundation for our future growth in a highly strategic sector for the country. Oracle's selection of our datacenter network to support its new cloud region is testament to the absolute excellence of our infrastructure, which is unique in the Italian market in terms of its reach and performance."&nbsp;
As part of the agreement, TIM Enterprise will offer OCI services to its public and private sector customers across the region, leveraging its long-standing experience in helping customers in any industry migrate their mission-critical workloads to the cloud.&nbsp;With built-in security, superior performance, high availability, and lower cost, these services are designed to support mission-critical and cloud-native workloads in large public and private sector environments.&nbsp;
As part of the collaboration, TIM will also use OCI to migrate some of the Group's internal applications to the cloud.

ORCL

Reported Earlier, Oracle And TIM Collaborate To Accelerate Cloud Adoption In Italy

Shares of Europe-related ETFs are trading lower amid weakness in US markets following hotter-than-expected March inflation data, which has weighed on global markets.

G7 Nations Say They Will Respond Swiftly, Including With "New And Significant" Measures Against Iran If It Sends Ballistic Missiles To Russia

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INTC

Intel Has Decided To Postpone Its Potential Investment In Italy, 'We Are Here For Them Should They Decide To Come Back,' Industry Minister Says

European stock ETFs are higher following the ECB's meeting and rate decision.

Investors hoping for European Central Bank (ECB) President Christine Lagarde to signal a path towards interest rate cuts in 2024, in line with Federal Reserve Chair Jerome Powell&#8216;s previous day remarks, found themselves recalibrating these expectations following her hawkish <a href="https://www.benzinga.com/topic/europe">press conference on Thursday. </a>
At its final meeting of the year, the ECB opted to keep its key interest rates unchanged, marking the second straight hold and likely signaling that the end of the tightening cycle began in July 2022. However, the similarities with the Fed&#8217;s meeting ended there. 
While Powell subtly opened the door to future rate reductions, Lagarde&#8217;s narrative was decidedly different.
Read also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36227799/feds-unexpected-dovish-signals-spark-market-euphoria-economists-weigh-in">Fed&#8217;s Unexpected Dovish Signals Spark Market Euphoria: Economists Weigh In</a>
<h2 class="wp-block-heading">Lagarde Doesn&#8217;t Lower The Guard</h2>
&#8220;We should absolutely not lower our guard,&#8221; Lagarde asserted, countering the anticipations of market participants who were speculating on potential ECB rate cuts mirroring the Fed&#8217;s direction. 
She clarified that the ECB&#8217;s policy-making process did not entertain discussions on rate cuts and is not uninfluenced by market speculations or temporal pressures.
Lagarde stressed that the ECB will continue to be guided by a data-dependent approach in determining the appropriate level and duration of restrictions.
She stated that if the key ECB interest rates remain at their current levels for an extended period, they would &#8220;make a substantial contribution to the return of 2% inflation.&#8221;
&#8220;There&#8217;s a whole beach in between a hike and a cut&#8221; and that is a hold, Lagarde said. 
In conjunction with the decision to hold rates steady and provide a firm stance against future rate cuts, the ECB has also declared its intention to initiate active sales of securities acquired under the Pandemic Emergency Purchase Programme, proceeding at a pace of €7.5 billion monthly.
The ECB also unveiled its macroeconomic projections for the upcoming years. Headline inflation has been downwardly revised from prior estimates, with Frankfurt now expecting it to average 5.4% in 2023, 2.7% in 2024, 2.1% in 2025 and 1.9% in 2026.
Economic growth is expected to show a modest uptick from 0.6% in 2023 to 0.8% in 2024, leading up to 1.5% for 2025 and beyond.
<h2 class="wp-block-heading">Euro Strengthens, European Stocks Pause</h2>
After Lagarde&#8217;s remarks, the euro-dollar exchange rate, as tracked by the Invesco CurrencyShares Euro Currency Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>), rose to 101.52, up 1%. 
On the contrary, European equities flipped to the downside, likely impacted by the disappointing remarks regarding potential rate cuts. 
Currency-unhedged exchange-traded funds (ETFs) tracking European stocks such as the SPDR DJ Euro Stoxx 50 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>), the Global X DAX Germany ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAX#NASDAQ">DAX</a>), the iShares MSCI Italy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWI#NYSE">EWI</a>), and the MSCI France Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWQ#NYSE">EWQ</a>), still managed to hold on minor gains for the sessions, aided by the strength of the euro. 
Now read: <a href="https://www.benzinga.com/markets/equities/23/12/36235965/with-fed-rate-cuts-on-the-horizon-equity-markets-soar-dollar-weakens-10-year-treasury-yield-fall">With Fed Rate Cuts On The Horizon, Equity Markets Soar, Dollar Weakens, 10-Year Treasury Yield Falls Below 4%</a>
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ECB President Lagarde Defies Powell's Dovish Stance: 'We Should Absolutely Not Lower Our Guard'

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'Intesa Sanpaolo And Mastercard Together With Tapster For The Launch Of The New Payment Ring In Italy'

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