(Alliance News) - European stock markets opened trading in the last session of the week--characterized by several central bank meetings--up. As noted, the European Central Bank kept its rates at the current level and "dismissed" expectations of immediate cuts, echoing a similar stance taken by the Bank of England.

The Federal Reserve, on the other hand, hinted at the possibility of larger-than-expected rate cuts by 2024.

The FTSE Mib, thus, marks a 0.5 percent rise to 30,514.41 last night.

In Europe, London's FTSE 100 is picking up 0.1 percent, Paris' CAC 40 is up 0.2 percent, and Frankfurt's DAX 40 is advancing 0.5 percent.

Among the smaller lists, the Mid-Cap is gaining 0.5 percent to 43,887.57, the Small-Cap is up 0.8 percent to 27,143.14, and Italy Growth is up 0.3 percent to 8,081.92.

On the main list of Piazza Affari STMicroelectronics opened in the green by 2.3 percent to EUR46.66 per share. Stifel cut its target price to EUR55.00 from EUR60.00.

Stellantis, on the other hand, advances 1.8 percent to EUR21.66 after touching a new 52-week high at EUR2.69.

The board of TIM--up 1.2 percent--on Thursday received an update on the progress of the Sparkle divestment transaction. The board voted unanimously to extend to the end of January 2024 the term granted to Optics Bidco, a subsidiary of Kohlberg Kravis Roberts & Co. L.P. - or KKR - to complete due diligence activities and formulate a final offer.

Banco BPM - down 1.9 percent - announced Friday that it had finalized the purchase of the entire share capital of Vera Vita and Vera Financial from Generali Italia, functional to the internalization of the life insurance business, which had already begun in July 2022 with the acquisition of sole control of the Banco BPM Vita company.

Moody's Investors Service, Inc. announced that it has confirmed its rating on Enel's long-term debt at "Baa1." The agency also maintained its rating on Enel's short-term debt at "P-2." The stock paerto trade in the red by 0.5 percent.

On the MidCap list, Antares opened the session down 3.3 percent. The company announced Thursday that Enrico Broli has resigned as acting auditor and chairman of the company's board of auditors due to health reasons. Alternate sindcao Paolo Belleri also left for the same reason. Broli will be replaced on the board of auditors by Ramona Corti while the chairmanship of the body will be in the hands of Giancarlo Germani until the next shareholders' meeting.

Brunello Cucinelli--down 0.9 percent--reported Wednesday that it expects to end the year with positive results, five days before it debuts on the Italian stock exchange's FTSE Mib. "After the very nice results of the nine months and the very interesting growth in October, November and the first part of December, we imagine for 2023 a very good growth in revenues, between 22% and 23% at current exchange rates - over EUR1.1 billion -, raising estimates compared to previous expectations of between 20% and 22%, with a very important marginality and profit, within our idea of polite growth and healthy profit," said the founder of the eponymous brand, Brunello Cucinelli.

OVS, on the other hand, marks a plus 3.4 percent, taking the top spot on the list at EUR2.2160. The company reported Wednesday that net sales for the first nine months of its 2023-2024 fiscal year rose to EUR1.10 billion from EUR1.09 billion year-on-year. The performance of direct stores was better than that of franchise stores, which were more affected by adverse weather conditions as they were mostly kids formats. Ebitda in the period ended Oct. 31 showed a slight year-on-year decline, to EUR121.5 million from EUR124.1 million.

Also good opening for Saras, which marks a plus 2.7 percent, after the 1.7 percent red in the previous session.

On the SmallCap, FILA -- up 0.8 percent -- on Thursday reported that its board of directors resolved to propose to the shareholders' meeting the distribution of an extraordinary dividend of EUR0.58 per FILA share, ordinary and special.

Tessellis, meanwhile, advances 2.8 percent to EUR2.82 per share after a 3.9 percent decline on the eve of the meeting.

Digital Bros, on the other hand, marks a plus 2.8 percent to EUR9.84, after eve's gain of 3.6 percent.

At the tail end, among the bearish minority, Netweek is giving up 5.8% to EUR0.121, a new 52-week low.

Among SMBs, boost on Convergences, which is up 9.7% to EUR1.36 on the heels of eve's 2.3% gain.

Cyberoo, meanwhile, advances 7.9%, in its third bullish session.

The buy side also prevails on High Quality Food, which scores a plus 6.2% at EUR0.77 per share. Thursday disclosed that the final ranking list of the "ISMEA INVESTE" call for financial interventions at concessional and market conditions has been published. The company was admitted to the final ranking, with project reference code FCM/00027 and protocol number 2022/0013736, with an intervention

ISMEA of EUR2.0 million.

In New York overnight Europe, the Dow advanced 0.4 percent, the Nasdaq closed up 0.2 percent, and the S&P 500 picked up 0.3 percent.

Among Asian marketplaces, the Nikkei rallied 0.9 percent, the Hang Seng closed up 2.5 percent, while the Shanghai Composite closed down 0.6 percent.

Among currencies, the euro changed hands at USD1.0961 against USD1.0998 recorded in Thursday's European stock close while the pound is worth USD1.2754 from USD1.2669 last night.

Brent crude is worth USD76.70 per barrel versus USD76.93 per barrel at Thursday's close. Gold, meanwhile, trades at USD2,038.19 an ounce from USD2,040.15 an ounce last night.

Friday's macroeconomic calendar features at 1000 CET Italian inflation along with the Eurozone manufacturing and services PMI.

At 1100 CET, coming up is the Eurozone trade balance, at 1515 CET US industrial and manufacturing production, followed at 1545 CET by the services and manufacturing PMI.

At 1900 CET it will be the turn of data from Baker Hughes, and at 2130 CET, as usual on Fridays, the COT Report.

Among the companies, no special announcements are expected.

By Maurizio Carta, Alliance News reporter

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