Mib on one-week high; Hera on top

(Alliance News) - On Friday, the Mib is up in mid-session for the second day in a row, trading at a more than one-week high above 27,500 as investors continue to focus on an imminent deal on the U.S. debt ceiling.

Traders' attention turns to upcoming speeches by Fed Chairman Jerome Powell and ECB President Christine Lagarde. Domestically, caution prevails, however, as we wait for Moody's rating agency to comment on Italy's sovereign rating later in the day.

On the Fed front, another FOMC member indicated Thursday his support for a further rate hike next month, underscoring divisions within the Fed over how aggressively to target inflation. The U.S. central bank has raised its benchmark lending rate 10 times in quick succession since last year, seeking to suppress demand to address inflation, which remains well above its long-term target of 2 percent.

Thus, the FTSE Mib trades green by 1.0 percent at 27,513.19 last night, with put/call volume for the whole of the Piazza Affari marking 1.07.

Among the smaller listings, the Mid-Cap is up 0.4 percent to 43,307.06, the Small-Cap is up 0.3 percent to 28,014.77, and Italy Growth is also up 0.2 percent to 9,119.06.

In Europe, London's FTSE 100 is advancing 0.3 percent, the CAC 40 is up 0.4 percent as is Frankfurt's DAX 40.

On the Mib, Hera is advancing well, posting a plus 3.3 percent at EUR2.9620, after two sessions in the green.

Saipem, which lifts its price to EUR1.3240, after announcing Thursday that it has been awarded two new offshore contracts, one for an Engineering, Procurement, Construction and Installation project in the Black Sea and one for decommissioning activities in the North Sea. The total value of the contracts is about USD850 million.

Interpump Group--up 2.3 percent--announced Thursday evening the acquisition of 100 percent of the capital of Waikato Group. The transaction price was set at about EUR30 million.

Banca BPER Spa - following up on its agreements with AMCO - announced that it has concluded a transaction for the sale, for consideration, without recourse and en bloc, of a portfolio of Unlikely to Pay impaired loans of BPER Banca and its subsidiary Banco di Sardegna, to AMCO. The value is approximately EUR430 million. The stock is falling 0.2 percent to EUR2.68 per share.

Also in the rear-ends is another banker,UniCredit, which is marking a minus 0.7 percent

On the cadet segment, Autogrill continues well, leading the list since the bell rang. The stock is picking up 3.1% after a 0.9% loss on eve.

Datalogic, on the other hand, rises 2.5 percent, on the heels of the eve's profit closed with a timid 0.4 percent.

Fincantieri -- up 1.8 percent -- on Friday reported that the U.S. Department of Defense awarded Fincantieri's U.S. subsidiary, Marinette Marine (FMM), the contract to build the fourth "Constellation" class frigate, which is worth about USD526 million, for the U.S. Navy.

At the tail end, Marr is leaving 2.7 percent on the parterre, a liability that makes it the worst performer. For restaurant food distribution giant this is the fourth session in which selling prevails.

Red for MFE stock, with both share types contracting. Class A gives up 1.3 percent, while Class B depreciates 1.7 percent.

Red also for Juventus FC, with the Turin-based team also saying goodbye to the Europa League after suffering a defeat at the hands of Sevilla.

On the Small-Cap, Brioschi is giving up 3.9 percent, after two sessions closed in the green.

SIT--in the red by 3.6 percent--positions the price at EUR4.32 after eve's loss with more than 10 percent. The company on Thursday approved results as of March 31, 2023 reporting consolidated revenues of EUR83.6 million down 11 percent from EUR93.8 million in the first quarter of 2022.

Conafi, on the other hand, is advancing 5.7 percent, although on a weekly basis it still marks a red that amounts to 4.4 percent.

Pierrel, on the other hand, is advancing 3.0%, after three sessions among the bearish.

Among SMBs, boost on Italia Independent, which is ahead more than 18% with price at EUR1.03.The stockis in its 17th straight session on the bullish side. Over the past month, the stock has appreciated by more than 350%. It is worth mentioning that ten days ago the Ivrea court handed down the rulings approving the restructuring agreements reached with its creditors by the company and its subsidiary Italia Independent. In addition, the court extended the effects of the restructuring agreements to non-party claims. In the reasons for the positive outcome, the judgments expressly pointed out that the group's path of reorganization initiated in June 2022 was only possible for both companies thanks to the contribution of external finance from the major shareholder, Lapo Elkann, in the amount of EUR12.8 million.

Culti Milano, on the other hand, advances 5.3 percent to EUR21.00 per share, heading for the eighth session to end on the downside.

Finanza.tech, in the tail, is giving up 4.2%, while on the weekly it is giving up about 12%.

Farmacosmo, on the other hand, retreats 3.4 percent to EUR0.7880.

In New York, the Dow picked up 0.3 percent, the Nasdaq 1.5 percent while the S&P 500 advanced 0.9 percent.

Among Asian exchanges, the Hang Seng is giving up 1.4 percent, the Shanghai Composite closed down 0.4 percent while the Nikkei picked up 0.8 percent.

Among currencies, the euro changed hands at USD1.0780 versus USD1.0777 at Thursday's close. In contrast, the pound is worth USD1.2417 from USD1.2425 last night.

Among commodities, Brent crude is worth USD76.49 per barrel versus USD76.04 per barrel on Thursday evening. Gold, on the other hand, trades at USD1,965.09 an ounce from USD1,955.41 last night.

On Friday's macroeconomic calendar, the Spanish consumer confidence index will be released at 1300 CEST.

At 1700 CEST, Fed Chairman Jerome Powell is expected to speak, and at 2100 CEST, ECB President Christine Lagarde will speak.

By Maurizio Carta, Alliance News senior reporter

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