(Alliance News) - The Mib - according to the futures market - is giving ground in the aftermath of the day when the European Central Bank made the widely expected interest rate cut, moving away from a record low level, but without indicating a clear path.

On Thursday, then, the message from Frankfurt was that the inflation outlook has "markedly improved." The Governing Council pledged to continue to adhere to a meeting-by-meeting approach, saying it is not "pre-committing to a particular path for rates." According to Lagarde, the rate cut was nearly unanimous, with the exception of one governor.

The staff's latest projections for both headline and core inflation have been revised upward for 2024 and 2025. Frankfurt now sees headline inflation averaging 2.5 percent in 2024, 2.2 percent in 2025, and 1.9 percent in 2026.

For core inflation, the estimate is 2.8 percent in 2024, 2.2 percent in 2025, and 2.0 percent in 2026. Economic growth, on the other hand, is expected to rise to 0.9% in 2024, 1.4% in 2025 and 1.6% in 2026.

The FTSE Mib, thus-after closing in the green by 1.0% at 34,834.30 last night-is marking a red by 45.00 points.

In Europe, London's FTSE 100 is advancing 10.20 points, Paris' CAC 40 is giving up 5.30 points, and Frankfurt's DAX 40 has given up 14.70 points.

Last night, the Mid-Cap rose 0.3 percent to 48,078.75, the Small-Cap gained 0.2 percent to 29,472.38 while Italy Growth posted a marginal red at 8,206.04.

On the Mib, Iveco Group closed 3.8 percent ahead at EUR11.66 per share. Leonardo -- down 0.3% -- is reportedly preparing a bid to create Iveco Defence Vehicles, a made-in-Italy hub for military vehicles, by considering the acquisition of Iveco Group's asset. According to reports in Corriere della Sera on Thursday, Leonardo has called a number of international investment banks, including UBS, to study the purchase of Iveco Defence Vehicles, an Iveco Group company that produces armored vehicles, tanks and other combat vehicles.

The company also reported Tuesday that the Iveco brand has signed a memorandum of understanding with Foton, a leading commercial vehicle manufacturer in China, to explore potential collaboration in the areas of electric vehicles and components, and joint business opportunities, for Europe and South America.

Good buying also on BPER Bank, which closed up 2.7 percent, rearing its head after two sessions closed with bearish candles.

FinecoBank - up 3.1 percent - reported Thursday that it recorded net inflows of EUR946 million in May. The figure brings total inflows since the beginning of the year to EUR4.0 billion. In detail, assets under management weighed EUR364 million in May and EUR1.0 billion in the first five months.

Campari, meanwhile, advances 2.2 percent to EUR9.69 per share, in its fifth bullish session.

Among the bearish, minority of the list, in the rear ranks is Poste Italiane, which trades minus 1.3 percent, after a 1.3 percent green in the previous session.

ERG, on the other hand, gave up 1.8 percent to EUR25.62 per share, after 0.6 percent green on the eve.

On the Mid-Cap, Technoprobe gained 3.5 percent with price at EUR9.73 per share. Berenberg raised its target price to EUR7.50 from EUR7.10, with a 'hold' recommendation.

LU-VE, on the other hand, appreciated 2.9 percent with new price at EUR25.05 per share, following up on the 1.0 percent green on eve.

Fincantieri also did well -- up 1.7% -- after a German newspaper reported an attempt to take over TKMS, Thyssenkrupp's marine systems asset.

Alerion, on the other hand, gave up 1.1 percent to EUR18.38 per share, after a 1.4 percent green light on the eve of the meeting.

Among the smallcaps, boost on Tessellis, which went up 9.7 percent, following up on the 0.8 percent green of eve.

Abitare In, on the other hand, picked up 4.7 percent to EUR5.10 per share, in its third bullish session.

Antares closed down 6.4 percent to EUR3.36 per share, following the eve's green close of plus 2.9 percent.

Giglio Group, on the other hand, gave up 0.5 percent. The latter reported that it closed 2023 with a net loss of EUR3.9 million, which compares with net income of EUR900,000 in the previous year. As reported by the company, the merger of E-commerce Outsourcing into Giglio Group weighed heavily. The situation of more than one-third decrease in capital due to losses related to fiscal years 2020 and 2021 remains. The company's revenues increased to EUR21.3 million from EUR19.7 million in 2022, in this case helped by the integration of E-commerce Outsourcing.

Among SMEs, Emma Villas did well, up 5.7 percent, heading for its fourth bearish session.

Also good session for CleanBnB, which took home an asset of more than 10 percent, heading for its fourth bullish session.

Caribbean Company, on the other hand, picked up 6.9 percent, rearing its head after two sessions closed among the bearish.

At the tail end, Alfio Bardolla gave up 5.4 percent, in its third bearish session.

In New York, the Dow closed in the green by 0.2%, the Nasdaq gave up 0.1%, and the S&P 500 closed in the fractional red.

Among Asian exchanges, the Hang Seng is giving up 0.5 percent, the Shanghai Composite advanced 0.1 percent, and the Nikkei closed just below par.

Among currencies, the euro changed hands at USD1.0889 from USD1.0882 on Thursday in closing European equities while the pound is worth USD1.2785 from USD1.2781 last night.

Among commodities, Brent crude is trading at USD79.89 per barrel from USD79.70 per barrel at Thursday's close. Gold, on the other hand, trades at USD2,375.54 an ounce from USD2,373.98 last night.

Friday's macroeconomic calendar includes at 0800 CEST the Halifax index of UK house prices will be available in addition to Germany's trade balance.

At 1000 CEST a speech by ECB member Schnabel is scheduled, while 1100 CEST the Eurozone GDP is due.

From the States, at 1430 CEST, the unemployment rate will be coming in, while at 1900 CEST Baker Hughes data will be released. Aller 2130 CEST, as usual on Friday, coming up is the COT Report.

Among companies, coming up are the results of Iervolino & Lady Bacardi Entertainment.

By Maurizio Carta, Alliance News reporter

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