Squares start in green; Moncler spurs on Mib.

(Alliance News) - European stock markets opened higher Friday as investors awaited the U.S. PCE inflation figure expected later in the day to gauge the outlook for U.S. interest rates.

A weaker-than-expected data on German consumer morale raised concerns about the health of Europe's largest economy, on the heels of the European Central Bank meeting that left interest rates unchanged and signaled it will refrain from cutting them until there is lasting evidence that inflation is slowing below its 2 percent target.

Thus, the FTSE Mib, is rising 0.1 percent to 30,173.45.

Among the smaller listings, the MIdCap is giving up 0.1 percent to 45,305.32, the SmallCap is in the red 0.1 percent to 27,693.79, while Italy Growth is posting a green 0.2 percent to 8,318.97.

In Europe, London's FTSE 100 is advancing 0.8 percent, Paris' CAC 40 is rising with 1.3 percent, while Frankfurt's DAX 40 is the only rebounder with 0.3 percent.

On the Mib, Moncler is off to a good start, moving ahead by 3.6 percent with new price at EUR53.64 per share, after falling 0.2 percent in the previous session.

Campari, on the other hand, appreciates 3.7 percent to EUR9.30 per share, after two sessions closed among the bearish.

Poste Italiane - in the green with 0.3 percent - announced Thursday that it has approved plans for the merger by incorporation of Address Software Srl, whose share capital is wholly and directly held by Poste Italiane itself.

The board of directors of Snam -- in the green by 0.3 percent -- approved the 2023-2027 strategic plan. The company aims to achieve an increase in adjusted Ebitda of 7.4 percent on average per year, from about 7 percent 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 released note said.

STMicroelectronics--in the red by 2.0 percent--reported Thursday that it had revenues of USD4.28 billion in the fourth quarter of the year, down 3.2 percent from USD4.42 billion in the same period of 2022. Gross profit amounted to USD1.95 billion down 7.3 percent from USD2.10 billion in the fourth quarter of 2022.

On the MidCap, Juventus FC advances well, posting plus 1.2% after two sessions among the bearish.

Good buying also on Sanlorenzo, which moves ahead 1.0% to EUR44.40, after touching a new 52-week high at EUR44.55.

Salvatore Ferragamo -- in the money with 0.8 percent -- reported Thursday that preliminary revenues for 2023 stood at EUR1.15 billion from EUR12.25 billion in the previous year, however, down 7.6 percent. The retail distribution channel as of December 31 reports net sales down 11 percent from 2022 and wholesale sales down 12 percent on the previous year.

De' Longhi - down 3.0% - reported preliminary revenues in the first 12 months of 2023 of EUR3.1 billion, down slightly by 2.7% from the same period a year earlier. As for the fourth quarter, preliminary revenues stood at EUR1.02 billion, up 4.6 percent on the same period a year earlier.

On the SmallCap, good buying on SS Lazio, which moves ahead 2.0 percent to EUR0.8040 after a 1.5 percent decline on the eve.

The board of directors of Aeffe -- up 1.9% -- on Thursday approved preliminary sales figures for fiscal year 2023, which closed with consolidated revenues of EUR319 million, down 9.0% at constant exchange rates and 9.5% at current exchange rates, compared to EUR352 million in 2022.

Bialetti is stepping back 2.7 percent, after a 2.3 percent gain in the previous session.

Also among the bearish performers, numerous on the list, is SIT, which is giving up 4.1% in its third session in the red.

Among the SMBs, boost on FOS, which marks a plus 7.7% at EUR3.64 per share after two sessions closed among the bearish.

Ecomembrane, on the other hand, marks a green of 4.7%, pointing to its third consecutive daily candle.

Marzocchi Pompe -- up 1.0 percent -- reported Thursday that during fiscal year 2023, consolidated net revenues stood at EUR49.8 million, up 2.6 percent from the 2022 figure of EUR48.5 million. The figure represents an all-time high achieved by the group.

Websolute is giving up 2.4 percent to EUR1.24 per share, after a 0.8 percent gain in the previous session.

In New York on European night, 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 1.6 percent.

Among currencies, the euro changed hands at USD1.0824 against USD1.0835 recorded at 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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