(Alliance News) - Equity markets -- according to the futures market -- are expected to open lower Friday, following two consecutive days of strong selling. Investors will assess several economic indicators in Europe today, including Eurozone inflation expectations for June, the Spanish unemployment rate for the second quarter, and French and Italian consumer confidence data for July.

News before the bell rang included that Eni ended the first half of 2024 with an adjusted operating profit of EUR6.21 billion, down 23 percent from EUR8.02 billion in the first six months of the previous year. Pro forma adjusted operating income was EUR8.22 billion compared to EUR10.1 billion in the first six months of 2023.

Adjusted net income was positive EUR3.1 billion, which compares with EUR4.84 billion in the first six months of 2023. Net income was positive EUR1.87 billion from EUR2.68 billion last year.

The FTSE Mib-after closing Thursday down 2.0 percent to 33,771.07-is giving up 20.00 points.

In Europe, London's FTSE 100 is up 23.00 points, Paris' CAC 40 is advancing 31.30 points, and Frankfurt's DAX 40 is giving up 25.60 points.

Among the smaller lists last night, the Mid-Cap lost 1.3 percent to 47,401.62, the Small-Cap gave up 0.8 percent to 28,822.39, and Italy Growth fell 1.0 percent to 7,990.12.

On the Mib last night, strength on Pirelli, which closed up 1.3%, rearing its head after two sessions in the red.

ERG also did well, up 2.2%, while Saipem gaudagned 1.1% with price at EUR2.3250 per share. The company reported first-half revenues of EUR6.41 billion, up 20 percent from EUR5.35 billion as of June 30, 2023. Adjusted net income for the period stood at EUR118 million, up from EUR40 million in the first half of last year.

Stellantis--declining 8.7 percent--reported Wednesday its first-half results, which closed with a 48 percent drop in profit to EUR5.65 billion from EUR10.92 billion in the same period of 2023, "mainly due to the decrease in North America," the company explained in a note. Revenues decreased 14 percent to EUR85.02 billion from EUR98.37 billion in the second quarter of the previous year, "mainly due to lower volumes and mix," Stellantis points out.

STMicroelectronics -- down 14 percent -- on Thursday reported U.S. GAAP financial results for the second quarter ended June. Net income and diluted earnings per share fell to USD353 million and USD0.38, respectively, compared with USD1.00 billion and USD1.06 reported in the same quarter a year earlier. Net sales were USD3.23 billion, down 25 percent from the previous year.

On the Mid-Cap, Alerion lost 1.0 percent, ending a three-session positive streak.

Ascopiave -- up 1.2 percent -- continues steadily with its buyback program. The company most recently announced Wednesday that it bought back 21,500 ordinary shares between July 17 and 19 for a total value of about EUR52,000.

Banca Generali gained 1.9 percent to EUR40.68. The Lion's bank reported a first-half net profit of EUR239.6 million from EUR175.1 million as of June 30, 2023, up 37 percent.

Net interest income in the first half stood at EUR157.5 million from EUR151.5 million in 2023. Net interest and other banking income as of June 30 amounted to EUR494.3 million from EUR392.2 million in the first half of 2023. CET 1 ratio stood at 22.3 percent while TCR stood at 23.7 percent.

Acea -- up 1.1% % -- reported Thursday that it closed the first half with revenues down 13% year-on-year to EUR1.99 billion from EUR2.30 billion in the first six months of 2023.

Ebitda rose 8.8 percent to EUR729.1 million from EUR670.4 million a year earlier. Recurring Ebitda, net of one-off components including the release of the provision for tariff subsidies of EUR17 million and the EUR5 million shutdown for revamping the WTE plant in Terni, increased by more than 7 percent.

Operating income, on the other hand, grows to EUR338.6 million or 13 percent year-on-year despite increased depreciation and amortization. Acea's post-minority net income rises 21% year-on-year to EUR172 million from EUR142 million, and recurring net income increases 18% to EUR168 million from EUR142 million.

d'Amico International Shipping--down 3.3%--reported that its Irish operating subsidiary d'Amico Tankers DAC has terminated the purchase agreement signed on April 9. The contract was for the purchase of the MT Amfitrion, an 'MR' vessel with a deadweight capacity of 50,000 tons, built in 2017.

On the Small-Cap, KME Group rose 0.1 percent to EUR0.91 after two sessions closed with a negative balance.

SIT lost 0.3 percent after a bullish eve session. The stock in the MarketScreener platform is valued at a fair value of EUR2.20, making it underpriced by more than 46 percent.

In contrast, Sogefi fell 4.5%, in its fifth bearish session and priced at EUR1.8780.

Fidia lost 19% to EUR0.3460, on the heels of the double-digit decline on the eve.

Among SMEs, strength on iVison Tech, up 2.7 percent to EUR1.56, after shareholders authorized the board to increase capital by EUR2 million.

Circle - which did not trade - reported Thursday that Magellan Circle Italy signed a contract worth about EUR40,000 with Start 4.0, the Center of Competence for Security and Optimization of Strategic Infrastructure to support a beneficiary company in process innovation aimed at Open Innovation.

Marzocchi Pompe -- flat at EUR4.06 -- reported Wednesday that consolidated net revenues for the first half stood at EUR22.0 million, down 17 percent from the first half of 2023, when they were EUR26.6 million.

In New York overnight Europe, the Dow closed up 0.2 percent, the Nasdaq gave up 0.9 percent, and the S&P 500 closed down 0.5 percent.

Among Asian exchanges, the Hang Seng is picking up 0.2 percent, the Nikkei is giving up 0.5 percent, while the Shanghai Composite is marking a red 0.2 percent.

Among currencies, the euro changes hands at USD1.0852 against USD1.0861 on Thursday's European equities close while the pound is worth USD1.2859 from USD1.2886 on Thursday evening.

Among commodities, Brent crude is trading at USD82.50 per barrel from USD80.36 per barrel at Thursday's close. Gold, on the other hand, trades at USD2,366.50 an ounce from USD2,421.29 an ounce last night.

Friday's macroeconomic calendar, at 1000 CEST, focus on Italy's consumer and business confidence.

From the US, eyes on PCE, with the Fed's preferred inflation measure to be released at 1430 CEST. Household confidence will be released at 1600 CEST while the day will close, at 1900 CEST, with Baker Hughes drilling rig data.

Among the companies on the stock market, Terna, TrenDevice, Pharmacosmo and Next Re will release results, among others.

By Maurizio Carta, Alliance News reporter

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