(Alliance News) - Piazza Affari is expected to start with no particular movement Friday on a day not particularly packed with macroeconomic and corporate events.

The FTSE Mib is expected up 35.0 points or 0.1 percent after closing up 0.4 percent at 34,857.37 on Thursday's session.

London's FTSE 100 is expected to be flat, Paris' CAC 40 is listed down 16.5 points or 0.2 percent, and Frankfurt's DAX 40 is expected flat at the start.

In Milan last night, the Mid-Cap closed down 0.3 percent to 48,480.87, the Small-Cap gave up 0.1 percent to 28,526.01 and the Italy Growth gained 0.5 percent to 7,867.79.

On the highest-capitalization list in Piazza Affari, best performance yesterday for Brunello Cucinelli, up 8.0 percent, after it revised upward its estimates for 2024 thanks to very positive sales. Sales are expected to grow between 11% and 12%, with a fourth quarter in line with the third. Expected growth for the years 2025 and 2026 is about 10 percent annually. After the news, Goldman raised its target price on the stock to EUR114.00, confirming its 'buy' recommendation.

Strength also on BPER Banca, which closed bullish by 4.9 percent at EUR6.12, following up the previous session's 0.8 percent gain.

Pirelli rose 1.5 percent. Camfin, the group's historic shareholder under Marco Tronchetti Provera, is working on a maxi-refinancing to consolidate its position in Pirelli's capital, where it currently holds 26.1 percent.

According to banking sources quoted by Il Messaggero, the operation is being coordinated by Camfin's CEO Giovanni Tronchetti Provera, with the support of a pool of banks led by UniCredit and Intesa Sanpaolo, flanked by Banco BPM, and is being advised by Lazard, Fivers and McDermott.

The plan calls for a three-year refinancing of EUR650 million earmarked for Camfin, Camfin Alternative Assets and Longmarch Italia, companies under the control of the Tronchetti family thanks to special statutory mechanisms. The resources will be used to optimize the consolidated debt of the three companies, currently around EUR450 million, by reducing its cost and extending its maturity to the end of 2027. They will also enable Camfin to increase its stake in Pirelli to 29.9 percent, a goal announced back in October.

Azimut -- up 0.3 percent -- reported Thursday that it had completed the repayment of its EUR500.0 million senior bond, issued in 2019 with a maturity date of December 2024 and an annual coupon of 1.625 percent.

Also among the many bullish performers are Amplifon, up 1.1 percent, and Campari, up 1.8 percent.

At the bottom since the open, Prysmian has dropped 2.5%, after two consecutive bullish sessions.

Iveco, on the other hand, gave up 1.1%, after two straight sessions among gainers.

On the Mid-Cap, Juventus FC did well, rising 0.8% after a Champions League win against Manchester City that boosted the Bianconeri's European ambitions.

Purchases also for Safilo Group, up 2.2 percent to EUR0.94 per share.

Strength on OVS, which closed up 8.2 percent, marking its 11th consecutive bullish session.

Alerion, on the other hand, gave up 2.8 percent to EUR17.20 per share, on the heels of eve's 0.7 percent decline.

On the Small-Cap, Bialetti Industrie did well, in its third bullish session, up 17 percent and with more than one million shares traded, compared with a three-month daily average of around 46,000.

Eurotech, on the other hand, rallied 3.8 percent to EUR0.78, rebounding after four sessions ended in a bearish candle.

AbitareIn, on the other hand, rose 3.7 percent despite weak accounts for the last fiscal year. Sales fell to EUR74.8 million as of September 30 from EUR116.3 million a year earlier, with Ebitda dropping more than half to EUR17.1 million from EUR35.0 million. Earnings before taxes fell to EUR10.1 million from EUR25.1 million while net income fell sharply to EUR5.8 million from EUR24.3 million. Net financial debt, on the other hand, rose to EUR89.1 million from EUR38.5 million.

Beghelli halts Gewiss' post-OPA run and remains flat at EUR0.329 per share.

Among SMEs, Elsa Solutions rose 4.5 percent on the heels of eve's double-digit gain of 12 percent.

Cofle, on the other hand, picked up 5.3 percent, rearing its head again after two sessions in which it gave up an aggregate of about 12 percent.

Farmacosmo--up 0.6 percent--reported Thursday that the closing with Laboratorio Farmaceutico Erfo--up 12 percent--was finalized for the purchase of 49 percent of FRCM1 for EUR151,900, following up on Laboratorio Farmaceutico Erfo's exercise of its option.

Among the bearish - numerous in the list - Eprcomunicazione gave up 6.1%, subject to profit taking after four bullish sessions.

Circle, on the other hand, gave up 5.1 percent, in its third session with a bearish trend and with new price at EUR7.48 per share.

In Asia, the Nikkei closed Friday down 1.0 percent to 39,470.44, the Shanghai Composite fell 2.0 percent to 3,391.88, and the Hang Seng lost 1.8 percent to 20,028.86.

In New York, at Thursday's close, the Dow lost 0.5 percent to 43,914.12, the Nasdaq fell 0.7 percent to 19,902.84 and the S&P 500 gave up 0.5 percent to 6,051.25.

Among currencies, the euro changed hands at USD1.0458 from USD1.0506 on Thursday in closing European equities. The pound is worth USD1.2633 versus USD1.2711 last night.

Among commodities, Brent crude is worth USD73.42 a barrel from USD72.76 a barrel at Thursday's close. Gold trades at USD2,688.73 an ounce from USD2,681.87 an ounce last night.

On Friday's macroeconomic calendar, at 1100 CET, from the Eurozone, the industrial production figure is expected.

From the US, at 1900 CET, eyes on the Baker Hughes plants data while, at 2130 CET, as usual on Friday, it will be the turn of the COT Report.

On the corporate calendar in the Piazza Affari, no particular announcements are scheduled.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

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