(Alliance News) - The Mib in mid-session continues with the bearish trend seen since the pre-opening market - like the other European exchanges - with sales are affecting all blue chips and concentrated mainly on financials and banking, with losses reaching as high as 3 percent.

Bringing the mood back into risk-off mode is the growing tension in the Middle East region, as well as words from several Fed officials that have cooled the part of the market positioned with certainty on the rate cut cycle starting in June.

Minneapolis Fed President Neel Kashkari suggested that rate cuts may not be warranted this year if inflation persists in its stagnation. The spotlight now shifts to the long-awaited U.S. jobs report to be released today, which may or may not make possible a first Fed rate cut in June.

Thus, the FTSE Mib trades 1.5 percent red at 33,921.80 points.

In Europe, Paris' CAC 40 is marking a 1.4 percent loss, London's FTSE 100 is giving up 0.9 percent, and Frankfurt's DAX 40 is marking a 1.5 percent loss.

The Mid-Cap is giving up 1.1 percent to 47,470.81, the Small-Cap is in the red by 1.2 percent to 28,400.75, while Italy Growth marks a minus 0.7 percent to 8,113.11.

On the Mib, on an almost competitively bearish list, Azimut is giving up 2.7%, after two sessions among the bearish.

Sales in the banking sector, with Intesa, Banco BPM and Banca Monte dei Paschi giving ground in a range of 2.9% to 3.1%.

Generali trades in the red by 1.8% at EUR22.74 per share. Of note, Barclays raised its target price to EUR20.50 from EUR20.00.

Terna - in the red by 1.4 percent - announced Wednesday evening that it had successfully launched a green, fixed-rate, nonconvertible hybrid subordinated perpetual bond issue denominated in euros for institutional investors for a total nominal amount of EUR850 million.

The board of Eni - the only bullish on the list with 1.0% - resolved on the possible issuance of one or more bonds, to be placed with institutional investors, for a total amount not exceeding EUR5 billion, to be issued in one or more tranches by March 31, 2026. The board also resolved to distribute to shareholders the fourth of four tranches of the 2023 dividend disbursement, from available reserves, of EUR0.23 - out of a total annual disbursement, in lieu of dividend, of EUR0.94 - per share outstanding on the ex-dividend date of May 20, 2024, with payment on May 22.

On the MidCap, among the few bullish performers is Caltagirone, which scores a plus 0.7 percent, on the heels of the eve's close with a plus 3.9 percent.

Saes Getters, on the other hand, advances 0.3%, in its third bullish session.

Alerion, on the other hand, is giving up 4.1 percent. The stock is reporting that the company, through its indirect subsidiary Alerion Racari Srl, announced Thursday that it has signed an EPC contract with Sunnerg Renewable Service Srl, a Sunnerg Group company, for the construction of a photovoltaic plant with an installed capacity of about 51.5 MW in Racari, Romania.

Safilo Group, on the other hand, is ceding ground with 3.6 percent, after a 0.9 percent red on eve.

Backtracking also on Banca Popolare di Sondrio, which gives up 2.9% to EUR6.76 per share in the wake of Thursday evening's 2.5% red.

On the SmallCap, selling - among others - on Met.Extra Group, which marks minus 4.3 percent with nuvo price at EUR2.66 per share.

algoWatt is leaving 9.5 percent on the parterre at EUR0.2515, subject to profit taking after eight bullish sessions.

Bologna's Aeroporto Guglielmo Marconi remains unchanged at EUR7.92 after monthly numbers. March was another month of growth with passengers up 9.4 percent year-on-year to 739,284.

Advancing Ratti, which is leading the price up 4.0%, with new price at EUR2.10 per share.

Bialetti, meanwhile, advances 2.6 percent, following up on two previous bullish candles.

Among SMEs Cofle advances 1.7 percent bringing the price to EUR5.90 and breaking the five-session downtrend.

DHH, on the other hand, advances by 2.0%, in its ninth session with a bullish candle.

NVP - up 1.4 percent to EUR2.96 - reported Friday that it ended the first quarter with revenues of EUR7.2 million, up 20 percent from EUR6.0 million recorded in the same period of 2023. The scope of consolidation includes EG Audiovisivi Srl and Produzione Italia Srl, which contributed EUR1.0 million in revenues, entirely generated in Italy.

The board of Esautomotion - up 2.3 percent - on Thursday evening approved the draft consolidated financial statements for 2023, closing with a net profit of EUR4.3 million, down from EUR5.1 million in the previous year. The board also proposed the distribution of a dividend of EUR0.05 per share, down from EUR0.1 in the previous year. Total revenues were EUR35.6 million, up from EUR34.0 million in the previous year.

Energy, on the other hand, is giving up 4.1 percent, in the wake of the 1.3 percent red on the eve.

In New York overnight, the Dow Jones and Nasdaq lost 1.4 percent, while the S&P 500 gave up 1.2 percent.

In Asia, with Chinese stock exchanges closed for holidays, the Nikkei gave up 2 percent, while the Hang Seng is picking up 0.1 percent.

Among currencies, the euro changed hands at USD1.0834 from USD1.0874 on Thursday in closing European equities while the pound is worth USD1.2629 from USD1.2667 last night.

Among commodities, Brent crude is worth USD91.04 a barrel from USD89.25 last night while gold trades at USD2,282.93 from USD2,293.72 on Thursday night.

Friday's economic calendar includes in the afternoon from the US, at 1430 CET, the release of the nonfarm payrolls report and the unemployment rate, followed at 1515 CET by FOMC memebro Barkin's speech.

At 1900 CET, the Baker Hughes plants report will be released. In the evening-as usual on Friday-the COT Report will be released at 2130 CET.

By Maurizio Carta, Alliance News reporter

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