(Alliance News) - European stock markets headed for a mixed opening on Friday as investors prepare for the release of U.S. PCE inflation data that could influence the Federal Reserve's monetary policy outlook.

On Thursday, the European Central Bank kept its benchmark rate unchanged and signaled that it will refrain from cutting rates until there is lasting evidence that inflation is slowing below its 2 percent target.

Thus, the FTSE Mib, is rising 22.50 points, after having closed 0.6 percent in the red at 30,157.80 last night.

In Europe, London's FTSE 100 is advancing 33.10 points, Paris' CAC 40 is advancing 66.50 points, while Frankfurt's DAX 40 is contracting 36.00 points.

The Mid-Cap, last night, gained 0.8 percent to 45,367.15, the Small-Cap gave up 0.3 percent to 27,733.83, and Italy Growth closed down 0.1 percent to 8,300.81.

On the Mib last night, Hera did best of all and rose 4.7 percent, the day after releasing its new business plan to 2027. In detail, the company expects a positive performance of the group's industrial margins for the year just ended, with EBITDA expected to exceed EUR1.48 billion, EUR185 million more than the EUR1.29 billion in 2022.

The company explains that this result achieves three years ahead of the target that had been set by the previous industrial plan for 2026 - EUR1.47 billion -, confirming the strategy undertaken by the group and the timing in seizing some market opportunities that presented themselves in 2023.

Luxury contrasted, with Brunello Cucinelli picking up 1.7 percent and Moncler giving up 0.2 percent, while Salvatore Ferragamo gave up 0.4 percent on the Mid.

Snam did worst of all and sat at the bottom giving up 2.8%. The company approved its 2023-2027 strategic plan in which it aims to achieve an increase in adjusted Ebitda of 7.4% average per year, from about 7% in the previous plan.

It also expects adjusted net income with growth of about 4 percent on average per year, up from 3 percent in the previous plan, "despite more onerous interest rates," the memo released said.

As for the dividend, it expects minimum growth increased to 3 percent from the previous 2.5 percent. The 2023-2027 plan calls for EUR11.5 billion in total investments -- net of public funding of about EUR900 million -- a 15 percent increase over the 2022-2026 plan.

Weighing on the list were banks, with BPER and BPM giving up 2.5 percent and 2.0 percent, respectively.

Also of note was STMicroelectronics, which gave up 0.5 percent after publishing its results. The company, in fact, reported Thursday that it had revenues of USD4.28 billion in the fourth quarter of the year, down 3.2% from USD4.42 billion in the same period of 2022. Net income was USD1.08 billion down 14 percent from USD1.2 billion in the fourth quarter of 2022. Operating income amounted to USD1.02 billion down 21 percent from EUR1.29 billion in the same period 2022.

On the cadet segment, fashion is still doing the talking, with Tod's being among the best-rising 7.7 percent-after the release of results for which it reported that it ended 2023 with a 12 percent increase in revenues to EUR1.13 billion from EUR1.01 billion in 2022. At constant exchange rates, the increase would be 14 percent to EUR1.15 billion.

Shareholders of OVS, which rises 1.0%, approved Wednesday the distribution of an extraordinary dividend of EUR0.03 per share proposed by the board of directors. The dividend will be paid on Feb. 19, with record date on Feb. 20 and payment date on Feb. 21.

Among the smallcaps, Aeffe - in the red by 1.7 percent - on Thursday approved preliminary sales figures for fiscal year 2023, which closed with consolidated revenues of EUR319 million, down 9.0 percent at constant exchange rates and 9.5 percent at current exchange rates, compared to EUR352 million in 2022.

Somec--up 1.5 percent--reported Thursday that its U.S. subsidiary Fabbrica LLC, part of its naval architecture and civil facade engineered systems division, has been awarded two new contracts on the U.S. East Coast, worth a total of EUR38 million. The first contract concerns a residential project developed by a well-known real estate investment fund in the Boston metropolitan area.

The board of directors of Italian Exhibition Group -- up 3.9 percent -- on Thursday approved the 2023-2028 strategic plan, which calls for 2028 revenues of EUR323 million, an adjusted Ebitda of EUR90 million and a Net financial position of EUR3.0 million. Over the entire plan period, IEG expects an investment plan of EUR172 million and dividends between EUR16 and EUR21 million.

Among SMEs, Xenia Hotellerie Solution closed in the green by 2.1 percent after announcing Thursday that the board of directors viewed the preliminary figures for the year ended Dec. 31 reporting full-year revenues up nearly 11 percent to EUR50.2 million from EUR45.4 million in 2022.

Comal--up 1.5 percent--reported Thursday that it had signed a EUR1.2 million contract to supply the "Sun hunter" tracker with a leading Italian operator operating domestically.

In New York overnight Europe, the Dow closed up 0.6 percent, the Nasdaq picked up 0.2 percent, and the S&P 500 gained 0.5 percent.

In Asia, the Nikkei closed down 1.3 percent, the Shanghai Composite picked up 0.1 percent, while the Hang Seng is giving up 1.5 percent.

Among currencies, the euro changed hands at USD1.0824 against USD1.0835 recorded in Thursday's European stock close, while the pound is worth USD1.2686 from USD1.2697 last night.

Brent crude is worth USD81.87 per barrel versus USD81.33 per barrel at Thursday's close. Gold, meanwhile, trades at USD2,020.58 an ounce from USD2,016.20 an ounce last night.

Friday's Eurozone calendar, at 1000 CET, is at the turn of information on the M3 money supply and loans to individuals.

At 1110 CET a six-month BOT auction is due, and at 1200 CET comes the monthly report from Germany's Buba.

Overseas, at 1430 CET, the PCE price index, personal income data and personal spending data are released.

Among companies listed on the Stock Exchange, no special announcements are expected.

By Maurizio Carta, Alliance News reporter

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