(Alliance News) - The Mib Index moved higher in the last session of the week, bringing the bar just below 27,700 Friday. Market sentiment was bolstered by accommodative remarks from Atlanta Federal Reserve head Raphael Bostic, who signaled a moderate approach to raising U.S. interest rates.

On the domestic front, the contraction of the Italian economy was confirmed at 0.1 percent in the fourth quarter of 2022, while services activity grew for the second month in February, although less than markets expected.

On the possible path of the Federal Reserve, in the CME Group platform's FedWatch Tool -- using futures also based on the actual federal funds rate, or EFFR -- the main rate hike for the March 22 meeting has a 71% probability priced into the 475/500 bps range. In contrast, the probability of an increase in the 500/525 bps area is at 29%. The current target is between 450 and 475 bps.

Thus, the FTSE Mib, rises 0.9 percent to 27,692.67.

Among the smaller Italian indices, the Mid-Cap rises 0.3 percent to 44,859.14, the Small-Cap advances 0.5 percent to 30,537.48, and the Italy Growth rises 0.5 percent to 9,446.70.

In Europe, London's FTSE 100 rises 0.2 percent, Paris' CAC 40 advances with 0.6 percent, while Frankfurt's DAX 40 is bullish with 0.9 percent.

On the main list, DiaSorin rises well with 2.4 percent, bringing the price to EUR112.50 and rearing its head after three sessions on the bearish side.

High quarters also for Ferrari, which rises 1.6 percent to EUR252.70. Of note, HSBC raised its target price on the stock to EUR300.00 from the previous EUR240.00.

On Friday, Prysmian Group - up 3.1% - reported that it has been awarded two contracts worth a total of about EUR1.8 billion awarded by Dutch transmission system operator Tennet for two power grid connection projects, IJmuiden Ver Alpha and Nederwiek 1, which will connect the two future offshore wind farms located in the Dutch part of the North Sea to the province of Zeeland, located in the southwestern part of the Netherlands.

Inwit, on the other hand, rises 4.9 percent, bringing its price to EUR10.92 and taking the lead in the list. The board of directors of Infrastrutture Wireless Italiane Spa reviewed and approved the financial statements for the year ended December 31, 2022, reporting a net profit of EUR293.3 million, up 53 percent from EUR191.4 million in the same period last year. The board also proposed a dividend of EUR0.3467 from EUR0.3235 in 2021, up 7.5 percent.

Among the few bearish performers Azimut gives ground with 0.4 percent, bringing the price to EUR22.42, after eve's green, albeit with a timid 0.2 percent.

On the cadet segment, good buying on illimity, which advances 2.1% to EUR6.75 per share in the wake of eve's green closed up 0.2%.

Fincantieri - leading the list with 4.3 percent - announced Friday that through its subsidiary Vard it has signed a contract worth about EUR250 million with a new customer, Edda Wind, for the construction of four Commissioning service operation vessels - CSOVs. The first two vessels will be delivered in the first quarter of 2025, the third in the second quarter of 2025, and the fourth in the first quarter of 2026.

Brembo, on the other hand, gives up 2.7 percent, heading for its third bearish session. The company announced Thursday that it reported record sales in the year ended Dec. 31, 2022, at EUR3.62 billion from EUR2.77 billion, marking a 31 percent increase over the same period last year. Net income amounted to EUR292.8 million from EUR215.5 million, up 36 percent from December 31, 2021.

Also down 1.5 percent was Salvatore Ferragamo, which reported Thursday that it had approved its operating budget for 2022, reporting net income at EUR65 million, down about 20 percent from EUR81 million as of Dec. 31, 2021.The board of directors proposed a dividend of EUR0.28 cents from EUR0.34 cents in 2021.

On the Small-Cap, Mondo TV advances with 4.8 percent, after a 1.3 percent loss on eve.

Greenthesis -- up 3.1 percent -- announced Thursday that it has signed a memorandum of understanding with Sharaf Investment LLC, the latter belonging to the Sharaf Group, one of the largest and most diversified conglomerates operating in the United Arab Emirates. The agreement deals with the understandings between the parties for Greenthesis to acquire a 20 percent stake in the Emirati-registered Green Future Battery Recycle LLC, a special purpose company now wholly owned by Sharaf Investment LLC itself and holding a permit to build and operate a new plant, the first in the Emirates, for the treatment and recovery of used lead-acid batteries derived mainly from the automotive sector.

Among the few bearish performers, Trevi Finanziaria is giving up 3.1 percent, bringing its price to EUR0.4290.

Among the SMBs, Eles is advancing 3.0 percent, following eve's red with 0.6 percent, while Frendy Energy is picking up 3.4 percent, after eve's 4.1 percent loss.

Giglio.Com, on the other hand, rises 1.0% to EUR3.08, heading for the third session to end on the bullish side.

At the tail end, in a still uneventful list, Bifire gives up 2.0 percent after eve's 1.0 percent loss., while Gentili Mosconi retreats with 3.5 percent and price at EUR3.54.

In New York on European night, the Dow closed up 1.1%, the Nasdaq rallied 0.7%, and the S&P 500 picked up 0.8%.

Among currencies, the euro changed hands at USD1.0621 versus USD1.0605 at Thursday's close. In contrast, the pound is worth USD1.1982 from USD1.1952 on Thursday evening.

Among commodities, Brent crude is worth USD84.64 per barrel versus USD84.75 per barrel on Thursday evening. Gold, on the other hand, trades at USD1,843.51 an ounce from USD1,843.95 an ounce at Thursday's close.

On Friday's macroeconomic calendar, at 1545 CET comes the Composite PMI index for the United States and the ISM index for February.

By Maurizio Carta, Alliance News reporter

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