(Alliance News) - European stock markets Friday opened on a bullish trend, with only London just below the parity line and Piazza Affari with its main index restarting from a base of 32,300 points.

In economic news, Germany's economy-the fourth-largest global economic force and first in Europe-contracted as expected in the fourth quarter of 2023, the Federal Statistical Office reported Friday. Price-adjusted Gross Domestic Product declined 0.4 percent during the quarter, decelerating from the 0.7 percent contraction in the third quarter of 2023.

The crisis in China's real estate sector does not seem to be stopping. New home prices fell 0.7 percent year-on-year January, stronger than the previous month's 0.4 percent decline. This was the seventh consecutive month of decline and the steepest pace since March 2023, despite the central government stepping up efforts to mitigate the impact of a prolonged real estate recession coupled with a fragile economic recovery.

Thus, the FTSE Mib, marks a green of 0.6 percent to 32,547.02.

In Europe, London's FTSE 100 moves up 0.1 percent as do Frankfurt's DAX 40 and Paris' CAC 40.

Among the smaller listings, the Mid-Cap is up 0.2 percent to 45,919.96, the Small-Cap is in the red 0.1 percent to 27,933.26, and Italy Growth is up 0.2 percent to 8,193.20.

On the Mib, boost at the start for Banco BPM, which moves ahead 3.7% to EUR5.37 per share pointing to its fifth consecutive bullish candle.

Mediobanca, on the other hand, advances 2.3% with new price at EUR12.58 per share and which touched its new 52-week high at EUR12.90 in the opening.

Poste Italiane, on the other hand, gives up 0.1 percent, with price at EUR10.24. Of note, Barclays raised its target price to EUR11.20 from EUR10.60.

FinecoBank, on the other hand, closes in the red by 0.8 percent to EUR13.16 per share.

On the cadet segment, d'Amico advances 1.9 percent to EUR6.09 per share after last night's bearish candle of 1.8 percent.

Good buys also on Mondadori Editore, which brings the price up 1.6 percent after a 1.4 percent loss in the previous session.

Brembo--in the highs in the green by 1.0%--reported Thursday that it has opened its first production site in Thailand. The investment of about EUR40 million reflects the group's strategy to expand its industrial presence globally and allows Brembo to seize new growth opportunities in Southeast Asia, the company explained in a note.

At the tail end, Carel Industries and Caltagirone share the last wagon with a 1.7 percent loss.

On the Small-Cap, Class Editori advances well, moving ahead 2.9 percent with new price at EUR0.1055 pointing to its third session on the bullish side.

Servizi Italia, meanwhile, advances 2.9 percent to EUR1.80 per share, heading to ring in its seventh session on the bullish side.

Unidata advances 2.7 percent, rearing its head after four sessions among the bearish side.

At the tail end, among the many bearish, Fidia is stepping back 2.8% to EUR0.3460, after three sessions closed among the bullish in which it picked up an aggregate 13%.

Among SMEs, International Care Company is advancing 4.0 percent with price at EUR1.30 per share, following eve's 6.0 percent decline.

Almawave, on the other hand, gives up 3.2% to EUR4.46 per share after falling 0.7% in the previous session.

At the tail end, in a still lackluster list, Arterra is giving up 2.3 percent after the previous session's 1.1 percent red.

In New York overnight Europe, the Dow closed in the green by 1.2 percent, the Nasdaq advanced 3.0 percent, and the S&P 500 closed up 2.1 percent.

Among currencies, the euro changed hands at USD1.0825 against USD1.0814 recorded at Thursday's European stock close, while the pound was worth USD1.2665 from USD1.2643 on Thursday evening.

Brent crude is worth USD83.10 per barrel versus USD83.52 per barrel at Thursday's close. Gold, meanwhile, trades at USD2,019.31 an ounce from USD2,030.75 an ounce on Thursday evening.

Friday's macroeconomic calendar includes the Eurogroup meeting at 1100 CET, while an auction of Italian CTZs with two-year maturity will be held at 1110 CET.

Among the companies listed in Piazza Affari, the results of Alkemy, Generalfinance and Sogefi are expected.

By Maurizio Carta, Alliance News reporter

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