(Alliance News) - On Friday, major European stock markets are expected to be in positive territory on a morning with few macroeconomic cues, unlike in the afternoon when we look ahead to the release of a number of relevant data from the US economy.

Thus, IG futures give the FTSE Mib in the green by 0.1 percent or up 182.5 points, after closing in the red by 0.2 percent at 30,689.11.

Paris's CAC 40 is expected up 0.6 percent or up 42.7.0 points, Frankfurt's DAX 40 is given in the green by 0.9 percent or up 142.9 points, and London's FTSE 100 is expected up 56.6 points or up 0.7 percent.

"European markets started the month soft yesterday as investors weighed this week's Federal Reserve and Bank of England messages. After there had been widespread speculation in the early weeks of this year that rate cuts would come before the end of the first quarter, this expectation was reset after both central banks gave markets the equivalent of a cold shower, causing modest weakness across the board, with the S&P500 posting its largest daily loss since September in the aftermath of Powell's press conference," commented Michael Hewson, chief market analyst at CMC Markets.

"Yesterday's ISM manufacturing survey was also better than expected and reached its highest level since October 2022, while prices paid jumped to a 9-month high, suggesting that input inflation is beginning to rise again. If this kind of trend holds, it would explain why the Fed is reluctant to move too soon when it comes to signaling a modest rate cut. On the bright side, we have seen the end of the tightening bias that all three banks, ECB, Federal Reserve and Bank of England, had at the end of last year, which means the next move on rates will be lower."

Among the smaller lists in Milan on Thursday, the Mid-Cap finished 0.8 percent in the red at 45,285.54, the Small-Cap gave up 0.2 percent to 27,709.65 while Italy Growth closed in fractional green at 8,296.68.

On the Mib on Thursday, Ferrari closed up 9.2 percent with new price at EUR353.50. The company announced Thursday that it closed 2023 with "record results": revenues rose more than 17 percent to EUR5.97 billion from EUR5.10 billion reported as of December 31, 2022. Adjusted net income is EUR1.26 billion up 34 percent from EUR939 million in 2022, and adjusted diluted earnings per share is EUR6.90 from EUR5.09 in 2022.

Also, on the sports department, Lewis Hamilton will join Ferrari next year and replace Carlos Sainz, with the official announcement coming later in the day, according to several media outlets.

Interpump, on the other hand, rallied 2.7 percent, with price marking EUR47.27 after declining 0.5 percent on the eve of the meeting. The company announced Wednesday the finalization of an agreement with PGIM Inc. for a note purchase and private shelf agreement of USD300 million and the simultaneous issuance of an initial bond for EUR100 million from that amount, privately placed in the forms of a U.S. Private Placement.

Telecom Italia closed down 0.3 percent, despite making it known that it has received an offer from the Ministry of Economy and Finance to buy Sparkle. In the offer, "reference is also made to the possibility of negotiating a different option, with possible adjustments to the contractual conditions, in the event TIM retains a minority stake for a specific time frame and supports the implementation of the strategic plan," according to the note released.

Generali sold 1.0 percent, the day after announcing it had completed its acquisition of Liberty Seguros, Compañia de Seguros y Reaseguros, S.A., a Spanish insurance company operating in Spain, Portugal, Ireland, and Northern Ireland, from Liberty Mutual. The transaction was announced on June 15, 2023.

On the Mid-Cap, Juventus Football Club - in the green by 2.2 percent - announced that it has reached an agreement with Southampton Football Club for the acquisition, on a temporary basis until June 30, 2024, of the right to the sports performance of footballer Carlos Jonas Alcaraz Duran for a consideration of EUR3.7 million, plus ancillary charges of EUR200,000, which may be increased by an amount not exceeding EUR1.9 million upon the achievement of certain sporting objectives.

OVS--up 2.4 percent--reported Wednesday that full-year 2023 sales grew by about 1.4 percent, an increase that occurred mainly on a like-for-like basis. The second half of the year, contrary to general concerns about consumption trends, compounded by an abnormal continuation of summer temperatures, also saw sales hold up, with the last quarter showing growth.

Maire Tecnimont - in the fractional red at EUR4.82 per share - announced Thursday that Nextchem, through its subsidiary Stamicarbon, has been awarded proprietary licensing and equipment supply contracts for an "Ultra- Low Energy" urea plant in China by Jiangsu Huachang Chemical Co, a publicly traded chemical company active in fertilizer production.

The plant, to be located in Zhangjiagang in Jiangsu Province, will have a capacity of 1,860 tons per day and will use Stamicarbon's Ultra-Low Energy design.

On the Small-Cap, Italian Exhibition Group rallied 5.7 percent to EUR4.29 per share after two sessions closed bearish.

Olidata, on the other hand, left 4.5 percent on the parterre. The company and the Yamaha Motoxracing WorldSBK Team announced Thursday a new partnership for the 2024 FIM Superbike World Championship season.

Helix - in the red by 0.4 percent - announced Tuesday that it had signed a partnership with the Ducati racing team ahead of the start of the 2024 MotoGP World Championship.

Among SMEs, Health Italia took home 6.0 percent. The company announced Tuesday that it has approved a share split in the ratio of 1 new Health Italia ordinary share with regular dividend entitlement for every 100 existing Health Italia ordinary shares.

SG Co closed bullish with 7.6 percent after announcing Thursday that it had approved its new hydustrial plan to 2026. Economic and financial targets report sales of EUR50.3 million, Ebitda of EUR4.2 million, and an NFP/Ebitda ratio of less than 3.0x.

Clabo rose 7.5 percent to EUR2.43 per share. The company reported Tuesday that it achieved consolidated revenues of EUR63.4 million in 2023, up 7.0% from EUR59.3 million in 2022. Consolidated orders collected in the 12 months totaled EUR60.6 million compared to EUR52.4 million in 2022, up nearly 16 percent.

In Asia, the Nikkei closed in the green by 0.4 percent at 36,158.02, while the Hang Seng was in the fractional green at 15,577.02 and the Shanghai Composite gave up 1.5 percent to 2,730.15.

In New York on Wednesday, the Dow Jones closed in the green 1.0 percent at 38,519.84, the S&P finished up 1.3 percent at 4,906.19, as did the Nasdaq at 15,361.64.

Among currencies, the euro changed hands at USD1.0882 against USD1.0852 recorded in Thursday's European stock close while the pound was worth USD1.2746 from USD1.2710 on Thursday evening.

Brent crude is worth USD79.09 per barrel versus USD81.15 per barrel at Thursday's close. Gold, meanwhile, trades at USD2,073.60 an ounce from USD2,060.01 an ounce on Thursday evening.

On Friday's calendar, coming in from France at 0845 CET is the French industrial production figure, followed 15 minutes later by the car registrations figure.

From the US, at 1430 CET the figure on average hourly wages, while at 1600 CET it will be the turn of factory orders. At 1900 CET the data on Baker Hughes mining plants.

At 2130 CET, as usual every Friday, the COT Report.

On the corporate calendar, CY4Gate results are coming up.

By Claudia Cavaliere, Alliance News reporter

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