(Alliance News) - The Mib index moved bullishly just below 27,600 Friday, after three consecutive sessions of declines, as U.S. labor market data increased positioning on the Federal Reserve's continuation of the path of monetary tightening.
On Friday, in the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate or EFFR, confirmation of the rate at the July 26 meeting has a probability that dropped to 8 percent in the 500/525 bps range. In contrast, the 25 bps hike in the 525/550 bps target is priced at 92 percent.
On the domestic front, retail sales in Italy increased on a monthly basis and slowed on an annual basis in May, Istat reported Wednesday. These rose 0.7 percent on a monthly basis in May after rising 0.2 percent in April, well above market expectations of 0.1 percent. On a year-over-year basis, May's 3.0 percent increase followed April's 3.2 percent increase and was lower than the 4.2 percent increase expected by analysts.
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As a result, the FTSE Mib is up 0.3 percent to 27,595.75.
Mid-Cap is up 0.4 percent to 41,826.57, Small-Cap is advancing 0.3 percent to 26,586.27, and Italy Growth is in the green 0.2 percent to 9,032.77.
In Europe, London's FTSE 100 is down 0.4 percent, Paris' CAC 40 is giving up 0.2 percent, and Frankfurt's DAX 40 is giving up 0.1 percent.
On the main list of Piazza Affari, Saipem's bullish momentum continues with a plus 1.9%. Of note, Marshall Wace on Thursday cut its short position to 0.48% from 0.56%.
Nexi, on the other hand, advances 2.1%, rearing its head after two bearish sessions and with new price at EUR7.60.
Good buying also on BPER Bank, which advances 2.0% to EUR2.67 per share rearing its head after three sessions among the bearish.
On a negative note, Amplifon gives up 1.8% to ER30.25. The company announced Thursday that it has entered as a main partner in Next Age, the first accelerator in Europe that invests in startups developing products or solutions dedicated to the silver economy. Next Age is part of the national CDP Venture Capital accelerator network, a network that now has 18 hubs throughout the country to promote and support the growth of young companies specializing in high-potential markets.
Also in the rear is Snam, which marks minus 0.7 percent at EUR4.6010 in its fourth session on the bearish side.
On the cadet segment, Tod's appreciates 2.4% to EUR41.26. BofA on Wednesday raised its target price to EUR41.00 from EUR40.00 with 'neutral' title, while Stifel raised it to EUR42.00 from EUR41.00 with 'hold' recommendation.
Good buys also on Safilo, which appreciates 2.1 percent after three bearish sessions.
Ariston Holding appreciates 1.9% to EUR9.0850 per share, rebounding after eve's 6.8% decline.
Buzzi Unicem, on the other hand, gives up 1.2% in the wake of Thursday's 2.9% contraction.
Rear-ends also for Saras, which gives up 0.9% in its second bearish session.
On the SmallCap, purchases on Eurotech - up 2.9% - on the heels of Thursday evening's 1.1% green.
Elica, on the other hand, advances 1.9% to EUR2.74 per share, on the heels of its previous two bullish sessions.
On the other hand, Il Sole 24 Ore advances 4.2%, bringing the price to EUR0.5620 after the eve's red with 0.7%.
At the tail end, Pierrel marks a minus, heading for the fourth session in a row to end among the bearish. On Wednesday evening, the board of directors set the final terms and conditions of the capital increase, to be offered in option to those entitled for a maximum amount of EUR70 million, including share premium, to be paid in cash, also by offsetting certain, liquid yet not yet collectible credits.
Specifically, the board resolved to issue a maximum of 47.8 million newly issued Pierrel ordinary shares, with no express par value, having the same characteristics as the shares already in circulation and regular dividend entitlement, to be offered under option to entitled shareholders in the ratio of five new shares for every Pierrel share held, at a subscription price of EUR1.529 per new share, of which EUR0.138 is to be charged to share capital and EUR1.391 to share premium.
Among SMEs, good buys on Eles, which is picking up 8 percent, following eve's green with 1.3 percent.
High Quality Food, on the other hand, is marking plus 11 percent, after eve's 5.6 percent and setting the new price at EUR1.0800.
Relatech - in the green by 0.4 percent - announced Thursday that it had finalized the acquisition of the remaining 40 percent of Sigla Spa's capital, thus rising to the entire share capital of the company specializing in the design and development of ICT solutions. The transaction was finalized for a total consideration, entirely in cash, ultimately agreed at EUR711,572.76, of which EUR531,572.76 was paid at the time for the closing, EUR100,000 to be paid within 60 business days following the shareholders' approval of Sigla's 2023 financial statements, and EUR80,000 to be paid thereafter and subject to the fulfillment, by December 31, 2025, of a condition precedent.
At the tail end, Alfonsino, steps back 6.8 percent. A high volume of 257,000 traded on the stock compared to a three-month daily average of just under 50,000.
In New York, on European night, the Dow gave up 1.1 percent, while the Nasdaq gave up 0.8 percent as did the S&P 500.
Among currencies, the euro changed hands at USD1.0884 versus USD1.0839 on Thursday's European stock close. In contrast, the pound is worth USD1.2752 from USD1.2681 on Thursday evening.
Among commodities, Brent crude is worth USD76.97 per barrel versus USD75.27 per barrel at Thursday's close. Gold, meanwhile, trades at USD1,916.39 an ounce from USD1,904.52 an ounce last night.
Friday's macroeconomic calendar features Spanish consumer confidence at 1300 CEST.
From the US, at 1430 CEST, will come June private sector employment data along with the unemployment rate. At 1900 CEST, eyes on Baker Hughes' drilling rig numbers.
Among the companies in the Square of Business, no particular events are expected.
By Maurizio Carta, Alliance News senior reporter
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