(Alliance News) - European stock markets are moving in a bearish trend, with Milan shyly in the green in the 35,400 area, as traders assess the prospects that the Fed is likely to keep interest rates higher for longer, as well as evaluate mixed economic data from China.

In Europe, investors will assess the final Eurozone inflation reading for April.

The FTSE Mib opened trading on a mixed note and is currently up 0.1 percent at 35,427.04.

In Europe, London's FTSE 100 is down 0.1 percent, the CAC 40 in Paris is giving up 0.3 percent, and Frankfurt's DAX 40 is giving up 0.4 percent.

Among the smaller lists, the Mid-Cap is down 0.3% to 48,235.24, the Small-Cap is down 0.2% to 29,562.80, and Italy Growth is in the green 0.2% to 8,239.60.

On the Mib, Saipem advances 2.1 percent to EUR2.25 per share. The company announced Thursday that it has been awarded a new offshore contract by Azule Energy Angola Spa to develop the Ndungu Field project, as part of the Agogo Integrated West Hub project, located about 180 kilometers off the coast of Angola. The value of the contract is approximately USD850 million.

Banca Monte dei Paschi, on the other hand, is advancing 2.0 percent, with the Siena-based bank posting a 72 percent gain since the beginning of the year.

At the tail end, Interpump is giving up 1.3 percent. The stock-which on the weekly shows a 7.7 percent profit-on Wednesday approved its interim report as of March 31, closing the period with a net profit of EUR67.6 million compared to EUR86.0 million in the first quarter of 2023, a decrease of about 22 percent.

Amplifon, on the other hand, contracted by 1.2 percent. The stock -- which will go ex-dividend on May 20 -- gives ground after three sessions with a bullish candle.

On the cadet segment, Intercos advances well, posting plus 3.1 percent, heading for the fourth session on the bullish side.

El.En. moves ahead 1.9%, with price at EUR10.21. On Wednesday, it approved its interim report as of March 31, with a positive pre-tax profit of EUR14.4 million, registering a 13 percent decrease from EUR16.6 million as of March 31, 2023.

Buzzi, on the other hand, gives up 1.6 percent, following up on the eve's decline that closed with minus 0.3 percent.

Carel Industries closes the list, which gives up 2.0 percent, the subject of profit taking after two sessions in which it rallied nearly 12 percent.

On the Small-Cap, Netweek is moving ahead by 4.2%, with new price at EUR0.0544. The company announced Thursday that it had signed a contract to acquire 100% of Telecity 2 Srl, a company into which the television and publishing activities of the Telecity group, a leader in Lombardy, Piedmont, Liguria and Valle d'Aosta, had been contributed. The price paid for 100 percent of Telecity 2 is EUR6 million and includes - among others - the television activities of the four regional broadcasters, the Assago office and about 40 employees.

Eurotech -- in the green by 3.6 percent after two sessions in which it lost more than 16 percent -- reported Wednesday evening that it had made a loss of EUR4.2 million in the first quarter from a profit of EUR100,000 in the first quarter of 2023.

Caleffi is stepping back 2.9%. The company announced that a buyback plan already approved by shareholders this week will be launched today. The purpose of the plan is to purchase a maximum of EUR200,000 of its own ordinary shares.

Beghelli contracted 2.4 percent, following a 3.3 percent green in the previous session.

Among SMEs, strength on iVision tech, which moves ahead 6.4 percent, after announcing that its board of directors has approved the issuance of two bonds with a total countervalue of EUR7.0 million.

SG Co -- in the money with 7.4 percent -- reported Friday that the value of the group's contracted order book as of April 30 was about EUR19.3 million, up 87 percent from the figure for the same period a year earlier, when it was EUR10.3 million. The figure is equivalent to 65 percent of the group's consolidated turnover as of December 31, 2023, which was EUR29.5 million.

Talea Group gives up 1.8 percent to EUR5.50 per share. The stock since the beginning of the year shows a 37 percent decline. The stock showed a 2024 high of EUR9.20 on January 15.

In New York on the European evening, the Dow gave up 0.1 percent, the Nasdaq gave up 0.3 percent, and the S&P 500 left 0.2 percent on the parterre.

Among Asian exchanges, the Hang Seng marks a green of 1.1 percent, the Shanghai Composite closed up 1.0 percent, while the Nikkei left 0.4 percent on the parterre.

Among currencies, the euro changed hands at USD1.0866 from USD1.0870 on Thursday in closing European equities while the pound was worth USD1.2666 from USD1.2669 last night.

Among commodities, Brent crude is trading at USD83.78 per barrel from USD83.17 per barrel Thursday night. Gold, on the other hand, trades at USD2,385.32 an ounce from USD2,372.24 an ounce on Thursday night.

On Friday's macroeconomic calendar, wait for the Eurozone inflation figure, due at 1100 CEST.

In the afternoon, in the U.S., eyes on the Federal Reserve's Daly and Waller speeches while, at 1900 CEST, Baker Hughes drilling rig data will arrive.

Among the companies in the Piazza Affari, results from Imprendiroma, Masi Agricola and Triboo are expected.

By Maurizio Carta, Alliance News reporter

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