(Alliance News) - European stock markets continued to fall in the final session of the week, following the release of PMI data that revealed a continued weakening of economic activity in the Eurozone, with the composite PMI index falling to 48.1 in November from 50 in October, well below forecasts that pointed to 50.

This reflected a contraction in the services sector, which fell for the first time in ten months, in line with the persistent decline in the manufacturing sector.

Earlier this week, in its annual financial stability report, the ECB pointed out that rising geopolitical tensions and political uncertainties are amplifying sovereign vulnerability, intensifying global trade tensions are increasing the likelihood of adverse economic shocks.

Adding to these concerns is the further escalation of the conflict between Russia and Ukraine, with Moscow forces recently firing a new type of ballistic missile at Ukrainian targets.

The FTSE Mib is therefore marking a 0.5 percent decline to 33,137.37.

In Europe, London's FTSE 100 is advancing 0.6 percent, Paris' CAC 40 is advancing 0.4 percent, and Frankfurt's DAX 40 is advancing 0.5 percent instead.

The Mid-Cap is in the fractional red at 46,555.19, the Small-Cap is giving up 0.4 percent to 26,852.00, and Italy Growth is giving up 0.2 percent to 7,718.07.

On the Mib, DiaSorin is leading the list climbing 2.2% to EUR10.63, after 0.8% red on the eve.

Prysmian -- up 0.3% -- reported Thursday that it has successfully placed a EUR1.50 billion dual-tranche unsecured senior bond issue that is expected to be rated 'BBB-' by S&P Global. The issue consists of a EUR850 million tranche with a four-year maturity on Nov. 28, 2028, a fixed annual coupon of 3.625 percent and an issue price of 99.8, and a second EUR650 million tranche with a seven-year maturity on Nov. 28, 2031, a fixed annual coupon of 3.875 percent and an issue price of 99.5.

Eni, on the other hand, is in the green by 0.2 percent. Ithaca Energy, an oil & gas company formed from the merger of Eni's U.K. and North Sea assets, announced an extraordinary dividend of USD200 million, or about GBP160 million, to be distributed on Dec. 20, Milano Finanza reported Friday. This is the first dividend after the business combination with Eni, which holds a 38.7 percent stake and will receive about USD193 million. In total, Ithaca will distribute about USD500 million in 2024.

Interpump Group--green by 0.5 percent--reported Thursday that it has signed a corporate power purchase agreement with Statkraft Markets GmbH for a 10-year supply of 100 percent renewable energy. Under the agreement, starting in January 2025, the group will purchase 20 GWh of power generated in Italy annually at a predetermined price that is fixed for the duration of the agreement.

Telecom Italia -- down 0.3 percent -- announced Thursday a EUR130.0 million investment to expand TIM Enterprise in the cloud and build a new data center near Rome, to be operational by 2026. The project, included in the 2024-2026 business plan, will increase the group's total capacity to 125 MW, confirming its leadership in the Italian colocation market.

On the cadet segment, OVS is advancing 2.7 percent after eve's 7.3 percent decline.

Ariston Holding, on the other hand, is advancing 0.2%, with price in the EUR3.14 area, breaking the four-session bearish streak.

El.En., on the other hand, is giving up 1.3 percent to EUR12.11 per share, following the eve's decline with 0.1 percent.

Reply, on the other hand, is contracting 2.0 percent to EUR151.50. Of note, on the stock Beremberg raised its target price to EUR160.00 from EUR144.00 per share.

On the Small-Cap segment, Abitare In advances 6.0% after declining 0.5% on the eve.

It does even better Risanamento, which moves up 6.4 percent, following Thursday's 8.3 percent gain at the close.

IGD SIIQ -- up 0.7 percent -- reported Thursday that its board of directors reviewed and approved its 2025-2027 business plan, which forecasts Net Rental Income at the end of the period with a like-for-like increase of about 16 percent over the figure expected at the end of 2024. Ebitda from operations is expected to be around EUR98 million with organic growth of 16% compared to the figure expected at the end of 2024. Funds From Operations are expected at EUR48 million, 41% compared to EUR34 million expected at the end of 2024.

PLC - in the green by 5.0% - reported Thursday that its subsidiary PLC Service Srl has signed an agreement with Sonnedix Italia Operation Srl to manage O&M services on a photovoltaic plant located in the municipalities of Augusta and Melilli, Sicily, with a total nominal capacity of more than 80 MWp.

Piquadro -- down 0.5 percent -- reported Thursday that it closed the first half of its financial year with revenues up to EUR87.8 million from EUR85.9 million in the same period last year. Pre-tax profit increased to EUR7.1 million from EUR5.9 million while net income rose to EUR5.0 million from EUR4.1 million.

Softlab, on the other hand, is giving up 3.0 percent, subject to profit taking after nearly 12 percent collected in the previous two sessions.

Seri Industrial on the other hand is giving up 3.6 percent, subject to profit taking after four bullish sessions.

Among SMBs, iVision Tech is advancing 4.4 percent after 1.6 percent in the red on eve.

Pharmacosmo, on the other hand, is rallying 6.0%, rebounding after three sessions of significant declines.

Edil San Felice - in the green by 3.5 percent - announced on Friday that it has been awarded routine maintenance work on the Cassino Direction VI Section with a major contract from Autostrade per l'Italia worth EUR12.1 million.

First Capital--flat at EUR16.00--reported Thursday that total net asset value as of September 30 amounted to EUR73.1 million, of which EUR2.0 million was attributable to minority interests, corresponding to EUR24.4 per outstanding share.

In New York on the European night, the Dow Jones closed down 1.1 percent, the Nasdaq closed up fractionally, and the S&P 500 rallied 0.5 percent.

Among currencies, the euro changed hands at USD1.0404 from USD1.0509 on Thursday's European stock close. The pound is worth USD1.2498 versus USD1.2614 on Thursday evening.

Among commodities, Brent crude is worth USD74.63 per barrel from USD74.09 per barrel last night. Gold trades at USD2,705.77 an ounce from USD2,671.60 an ounce last night.

Friday afternoon's macroeconomic calendar from the US includes preliminary PMIs at 1545 CET. At 1900 CET, focus on the report on drilling rigs in the US by Baker Hughes.

By Maurizio Carta, Alliance News reporter

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