(Alliance News) - On Friday, major European stock markets are expected to be in positive territory on a morning full of macroeconomic cues as news comes from the UK of a crushing Labour victory ending 14 years of Conservative rule.

Thus, IG futures give the FTSE Mib in the green by 0.3 percent or up 105.0 points, after closing in the green by 0.8 percent at 34,106.01.

Paris's CAC 40 is expected up 0.4 percent or up 32.0 points, Frankfurt's DAX 40 is given in the green by 0.2 percent or up 31.9 points, and London's FTSE 100 is expected up 0.3 percent or up 25.2 points.

In macroeconomic news, German industrial production fell 2.5 percent month-on-month in May, missing market estimates of 0.2 percent growth and moving from an upwardly revised 0.1 percent increase in the previous month.

The data were released Friday by the Federal Statistical Office.

It was the second contraction this year, weighed down by lower machinery and equipment production for a 5.9 percent drop and the automotive industry for a 5.2 percent decline.

Returning to Milan's smaller listings on Thursday, the Mid-Cap advanced 0.5 percent to 47,755.11, the Small-Cap advanced 0.3 percent to 29,210.29 while Italy Growth closed in the green 0.4 percent to 8,105.12.

On the Mib, FinecoBank - up 2.5 percent - reported on Thursday that net inflows in June amounted to EUR997 million - up from EUR764 million in the same month of 2023 - thus surpassing, for the fourth consecutive year, the EUR5 billion threshold in the first half of the year. The managed component amounted to EUR424 million, with Fineco Asset Management's retail inflows at EUR215 million and largely offsetting outflows from insurance of EUR84 million.

Strength also on Campari by 1.0%, on the heels of eve's 1.2% gain.

Boost also on Leonardo, which closed bullish by 2.1%. The company announced Wednesday that it had signed a Memorandum of Understanding with Rheinmetall to create a new 50-50 joint venture aimed at developing a European-wide industrial and technological approach in the field of defense systems

land.

Good buying on DiaSorin, which marked a 1.6 percent gain, in its fourth bullish session.

Unipol - in the green by 0.1 percent - informed Consob that it has signed a share swap contract that has as its underlying 4.77 percent of BPER's capital. The insurance company thus rises to 24.62 percent of the Emilian bank. In essence, this is a derivative with a long position to February 2028 that will reward Unipol should the Emilian bank's shares appreciate.

Among the few bearish sellers was Saipem's red, which gave up 0.6 percent, in the wake of the 2.8 percent bearish candle on the eve of the day.

Sales also prevailed on Stellantis, which left 0.1 percent on the parterre. The EU on Thursday imposed provisional additional duties of up to 38 percent on Chinese electric car imports after finding that Chinese carmakers benefit from "unfair subsidies."

As Francesco Bonazzi wrote in Alliance News, "The provisional duties will have to be confirmed by the end of October with a decision by the member states, in which case they will then apply for 5 years. Although we are at levels that are a quarter of the U.S. duties sought by President Joe Biden, not all European nations agree. Italy and France, despite the fact that Stellantis top management opposes the duties out of liberalist philosophy, are in favor of the penalties, while Germany is very concerned."

On the cadet list, Salvatore Ferragamo took the top spot with a rise of 6.7 percent. On the stock sim mentions that Goldman Sachs upgraded its recommendation on the stock to 'neutral' from 'sell,' albeit cutting the target price to EUR9.10 from EUR10.00.

Juventus FC also did well, rising 3.6 percent, in its fifth bullish session with new price at EUR2.41.

Ferretti, on the other hand, advanced 2.3 percent, after a flat session on the eve of the day, with price in the EUR2.86 per share area.

On the other side of the list, Caltagirone gave up 0.4 percent, in its third session with a bearish candle.

In contrast, Sesa posted minus 1.7 percent, reversing course after four bullish sessions.

On the Small-Cap side, Eurotech advanced 6.7 percent to EUR1.20 per share, following a 0.6 percent red on the eve of the session.

Banca Profilo closed up 2.4 percent after "commenting" Wednesday in the evening on rumors published by some press outlets regarding the sale of Arepo BP Spa's stake held in Banca Profilo's share capital. Arepo BP, the bank's controlling shareholder and parent company of the Banca Profilo group, confirmed that "an exclusive negotiation is currently underway, the outcome of which will be promptly communicated to the market when all conditions are met," the statement said.

Among the bearers, several on the list, Softlab gave up 2.4 percent, after being up 2.5 percent on the eve.

Aedes gave up 4.4 percent to EUR0.1950, after a 2.0 percent gain in the previous session.

Among PMIs, Clabo advanced 4.0%, reversing course after three sessions closed with a bearish candle.

SolidWorld Group--in the red by 0.5%--announced Thursday that Dubai-based subsidiary SolidWorld Middle East DMCC has secured a EUR800,000 order to supply two 3D design and printing systems in industrial and textile environments for a major UAE government agency scheduled for October

Edil San Felice closed down 2.5 percent after closing up 7.8 percent in the eve. The company on Wednesday announced it had been awarded a EUR145.1 million contract in RTI with SACS, Operation and CMO. Edil San Felice's share is EUR13.6 million.

Circle, on the other hand, gave up 5.3 percent after announcing Thursday that it had entered into an agreement with a Mediterranean port to use Port Community Services offered by the group. The contract is worth more than EUR700,000 and will run for about 18 months, expandable to an additional EUR1.0 million for a total value of EUR1.7 million and a period of up to 24 months.

In New York, markets were closed for Independence Day on July 4.

Among currencies, the euro changed hands at USD1.0822 from USD1.0813 on Thursday in closing European equities while the pound was worth USD1.2773 from USD1.2763 on Thursday evening.

Among commodities, Brent crude is trading at USD87.09 per barrel from USD87.52 per barrel at Thursday's close. Gold, on the other hand, trades at USD2,373.20 an ounce from USD2,358.00 on Thursday evening.

On Friday's macroeconomic calendar, Italy's retail sales figure is due at 1000 CEST, followed an hour later by the same Eurozone figure.

In the afternoon, from the US comes the US unemployment figure. At 1900 CEST, however, it will be the turn of the Baker Hughes drilling rigs report.

At 2130 CEST, as usual on Friday, the COT Report will be released.

On the corporate calendar, no events are scheduled.

By Claudia Cavaliere, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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