(Alliance News) - European stock markets moved lower on Friday after two intense days due to interest rate decisions.

On Thursday, the Bank of England raised UK interest rates by 25 basis points, as widely expected. The decision raised the key U.K. bank rate to 4.25 percent from the previous 4.00 percent. The vote was split, with seven members of the Monetary Policy Committee voting for the increase and two for keeping the bank rate unchanged.

Thursday's move by the BoE followed similar interest rate decisions by the Swiss National Bank and Norges Bank on Thursday morning, the U.S. Federal Reserve on Wednesday and the European Central Bank last week.

On the corporate front, the elimination of Credit Suisse's USD17 billion AT1 bonds will have "profound" implications for global banking regulations, said Bill Winters, managing director of Standard Chartered Bank.

Winters made the point at a conference on Friday in a discussion of banks' capital buffers following the historic regulator-mediated acquisition of Credit Suisse. The Swiss financial regulator decided to write off USD17 billion of AT1 bonds as part of the deal.

"The issue is not so much whether the regulator has confidence in our solvency...it's whether the market has confidence in our liquidity," Winters said.

Thus, the FTSE Mib is down 1.5 percent to 26,080.45, marking itself as the worst among Europeans.

In Europe, London's FTSE 100 is in the red by 0.8 percent as are Paris' CAC 40 and Frankfurt's DAX 40.

Among Italy's smaller lists, the Mid-Cap is in the red 1.0 percent to 42,522.68, the Small-Cap gives up 0.8 percent to 29,788.50, and Italy Growth gives up 0.2 percent to 9,335.92.

On the main list in Piazza Affari, banks give ground. Among the biggest bearers are UniCredit, which retreats 2.7 percent, Banco BPM with 2.6 percent and BPER Banca with 2.5 percent.

Société générale raised Terna's fair value to EUR8.50 from the previous EUR8.20. The stock opened trading in the red by 0.1 percent.

Unipol -- down 0.9% -- reported Friday that it had approved its 2022 accounts, confirming preliminary figures released in February, which showed a net profit of EUR866 million, up from EUR796 million a year earlier.

On the cadet segment, Saras steps back 2.4 percent to EUR.136 following two previous sessions that closed lower.

Ariston Holding, on the other hand, gives up 2.3 percent to EUR3.67, following a 1.3 percent green light on the eve of the session.

Iren -- up 2.1 percent -- reported Thursday that it ended 2022 with a net profit of EUR226 million, down 25 percent from EUR303 million a year earlier. Despite the drop in profit, the board's proposed dividend is up 10% year-on-year, to EUR0.11 from EUR0.10 paid last year.

Doing even better is Alerion, which rallies on the uptrend by rising 1.4 percent to EUR30.05.

On the SmallCap, Brioschi gives up 4.5 percent to EUR0.0730. The stock-which has not detached its dividend since 2019-is heading for a third session to end on the downside.

Strength on Greenthesis, which advances 3.9 percent to EUR0.9290 following two sessions closed in the red.

Il Sole 24 Ore -- up 13 percent but halted at a volatility auction at EUR0.5900 -- reported Thursday that it closed fiscal year 2022 with a "marked improvement" in all economic and financial indicators compared to 2021. The net result was EUR500,000 from a loss of EUR21.0 million in 2021. The company had not closed in profit for 14 years.

Pininfarina's board of directors -- flat at EUR0.85 -- approved the draft 2022 budget on Thursday, reporting a net loss of EUR5.0 million worsening from a EUR2.4 million profit in 2021.

Beghelli, on the other hand, gives up 4.4 percent to EUR0.2960, ahead of results expected later in the day.

Among SMEs, profit-taking on Gambero Rosso after previous positive sessions following good accounts. The stock gives up 7.0%.

Go Internet, on the other hand, gives up 6.9 percent to EUR0.2150. The stock trades at a 52-week low of EUR0.21.

In New York on European night, the Dow advanced 0.2%, the Nasdaq rose 1.0%, and the S&P 500 picked up 0.3%.

Among Asian exchanges, the Nikkei gave up 0.1 percent, the Hang Seng gave up 0.6 percent as did the Shanghai Composite.

Among currencies, the euro changed hands at USD1.0779 versus USD1.0897 at Thursday's close. In contrast, the pound is worth USD1.2244 from USD1.2326 on Thursday evening.

Among commodities, Brent crude is worth USD74.90 per barrel versus USD76.64 per barrel last night. Gold, on the other hand, trades at USD1,981.34 an ounce from USD1,993.09 an ounce at last night's close.

On Friday's economic calendar, Spanish GDP is due out at 0900 CET.

At 0915 CET the French services and manufacturing PMI index will come out. The same data will come in at 0930 CET in Germany, at 1000 CET from the Eurozone, and at 1030 from the UK.

Several macros are scheduled in the afternoon in the US, including the PMI index for services and manufacturing at 1445 CET.

Among the companies listed in Piazza Affari, the results of several companies including Juventus Football Club, Maps, Mondo TV and NB Aurora Sicaf are expected.

By Maurizio Carta, Alliance News reporter

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