(Alliance News) - European stock markets head for a muted opening Friday as investors continue to assess the global monetary policy outlook.

On Thursday, the European Central Bank held interest rates steady, as widely expected, but revised its inflation forecast downward. In the U.S., on the other hand, Federal Reserve Chairman Jerome Powell indicated in his testimony before the U.S. Senate that the central bank may be closer to easing restrictive policy if signs of moderating inflation prove sustainable.

The FTSE Mib, after closing up 0.2 percent at 33,418.68 last night, is moving just above parity.

In Europe, London's FTSE 100 is just below par, Frankfurt's DAX 40 is marginally in the red, and Paris' CAC is giving up 8.00 points.

Last night, the Mid-Cap closed in the green by 0.3 percent at 46,469.83, the Small-Cap in fractional green at 27,694.73, and Italy Growth in the red by 0.8 percent at 8,125.37.

On the main list of Piazza Affari, Amplifon closed on top with 5.9 percent after announcing Thursday that it closed 2023 with a profit of EUR165.8 million, down 9.5 percent from EUR183.3 million in the previous year, due to higher depreciation and amortization and increased financial expenses. In contrast, revenues amounted to EUR2.26 billion, a "record level," up 6.7 percent from EUR2.12 billion in 2022.

Azimut Holding -- in the red by 5.9 percent -- reported Thursday that it ended 2023 with adjusted net income of EUR454 million from EUR402 million in 2022 and up 13 percent. The board resolved to pay a dividend of EUR1.40 per share from one for EUR1.30 in 2022.

Stellantis - in the green by 0.7 percent - announced Thursday that it plans a multibillion-dollar investment in South America. The automaker, which is headquartered in the Netherlands, announced Thursday that it will invest EUR5.6 billion in the region from 2025 to 2030. "The planned investments will support the launch of more than 40 new products during the period as well as the development of new bio-hybrid technologies, innovative decarbonization technologies throughout the automotive supply chain and new strategic business opportunities," the company said.

Nexi's board of directors -- down 4.1 percent -- approved consolidated financial results as of Dec. 31, 2023, closing with normalized group attributable earnings of EUR711.8 million with normalized earnings per share of EUR0.54, up 4.9 percent year-on-year. Reported group attributable loss amounted to EUR1.01 billion as a result of the EUR1.26 billion non-cash technical write-down of the carrying value of goodwill and intangible assets due to share price movements and current market conditions.

Telecom Italia closed 24 percent in the red after it reported Wednesday that its board of directors reviewed 2023 figures, confirming preliminaries, which saw revenues of EUR16.30 billion from EUR15.79 billion in 2022. Ebitda amounted to EUR5.71 billion from EUR5.35 billion in 2022, with a margin of 35.0% from 33.9% a year earlier. Operating income rises 38% to EUR836 million from EUR606 million, with marigne of 5.1% from 3.8%, while net loss narrows to EUR1.44 billion from EUR2.93 billion a year earlier.

On the Mid-Cap, Ascopiave closed on top with a 6.6 percent rise after announcing Thursday that it closed 2023 with a consolidated net profit of EUR36.7 million, up 13 percent from EUR32.4 million recorded in 2022, pointing out that the scope of consolidation has undergone some changes compared to the previous year, due to some extraordinary transactions completed over the past two years. The board of directors will also propose to the shareholders' meeting the distribution of a dividend of EUR0.14 per share from EUR0.13 in the previous year.

It follows Maire Tecnimont, in the green by 4.8 percent after announcing Thursday that Tecnimont has been awarded by tender from Sonatrach an Engineering, Procurement, Construction, and Commissioning contract for a new linear alkyl benzene sulfonate plant - Llinear Alkyl Benzene, LAB - in the Skikda industrial zone, 350 kilometers east of Algiers.

LAB is a convenient biodegradable intermediate product used in the production of household and industrial detergents, and surfactants. The value of the contract is about USD1.1 billion.

Fincantieri finished the session in the green by 0.2 percent after announcing Thursday that it improved its loss in 2023 to a loss of EUR53 million from a loss for EUR324 mln as of Dec. 31, 2022. Revenues in the period stood at EUR7.65 billion from EUR7.44 billion in 2022.

Carel Industries ended at the bottom and sold 7.8 percent. In 2023, net income is EUR70.9 million, up 14 percent from EUR62.1 million a year earlier. The board proposed a dividend of EUR0.19 per share, up from EUR0.18 paid last year.

Tinexta -- in the green by 0.1 percent -- on Thursday reported that it ended 2023 with a net profit of EUR69.9 million, down 11 percent from EUR78.1 million as of Dec. 31, 2022. Revenues in the period stood at EUR395.8 million from EUR357.2 million in 2022.

On the Small- Cap, Fidia closed up 28 percent. The company announced on Thursday that it had started the process with the Ivrea Court regarding the settlement of the last tranche under the arrangement procedure and reserved for unsecured creditors, for a total amount of EUR1.5 million. In fact, the relevant sums required for payment have been credited to the escrow account in the name of the procedure.

It follows algoWatt, up 25 percent after informing, yesterday, "that it is still awaiting the pronouncement of the Court of Milan regarding the request for an extension of the deadline granted for the filing of a final proposal for a group arrangement with creditors or an application for homologation of group debt restructuring agreements."

Among SMEs, Matica Fintec closed up 1.2 percent after reporting Thursday that it ended 2023 with revenues of EUR22.6 million, up 16 percent from EUR19.5 million in 2022.

Reway Group - up 6.3 percent - reported Thursday that it has been awarded - through its subsidiary Gema - works worth some EUR84 million in the railways sector.

Nocivelli ABP - in the green by 0.5 percent - reported Thursday the execution of some lots of a previously awarded EUR18 million tender for the modernization and safety of the Gavardo Hospital in the province of Brescia. The company had been awarded the tender lots, participating in an RTI with Pavoni Spa, in June 2023.

In New York last night, the Dow closed bullish by 0.3 percent, the Nasdaq advanced 1.5 percent, and the S&P 500 gained 1.0 percent.

Among Asian exchanges, the Hang Seng is rising 1.2%, the Shanghai Composite advanced 0.6%, while the Nikkei picked up 0.2%.

Among currencies, the euro changes hands at USD1.0942 against USD1.0934 recorded at last night's European stock close, while the pound is worth USD1.2804 from USD1.2790 on Thursday night.

Brent crude is worth USD83.43 per barrel versus USD82.78 per barrel at Thursday's close. Gold, meanwhile, trades at USD2,160.66 an ounce from USD2,156.44 an ounce last night.

On Friday's macroeconomic calendar, at 1000 CET the Italian producer price index is scheduled to be released at 1100 CET from the Eurozone employment and GDP data will be released.

At 1430 CET from the US, the average wage and unemployment rate are expected.

In Piazza Affari, results from Acinque, BasicNet and Health Italia are expected.

By Maurizio Carta, Alliance News reporter

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