(Alliance News) - Stock markets are moving without a single direction Friday after two consecutive days of strong selling. Investors will assess several economic indicators in Europe today, including Eurozone inflation expectations for June, the Spanish unemployment rate for the second quarter, and French and Italian consumer confidence data for July.

The FTSE Mib is giving up 0.1 percent to 33,748.30.

In Europe, London's FTSE 100 is up 0.4 percent, Paris' CAC 40 is advancing fractionally, and Frankfurt's DAX 40 is giving up 0.4 percent.

Among the smaller listings, the Mid-Cap is giving up 0.2% to 47,304.89, the Small-Cap is just above par at 28,833.79, and Italy Growth is in the green 0.1% to 7,995.09.

On the Mib, good buying on Brunello Cucinelli, which is up 0.9% to EUR85.25 per share after two bearish sessions.

The board of Eni - in the green by 3.3% - analyzed the first-half accounts. The company closed the first half of 2024 with an adjusted operating profit of EUR6.21 billion, down 23% from EUR8.02 billion in the first six months of the previous year. Pro forma adjusted operating income was EUR8.22 billion compared to EUR10.1 billion in the first six months of 2023.

Adjusted net income was positive EUR3.1 billion, which compares with EUR4.84 billion in the first six months of 2023. Net income was positive EUR1.87 billion from EUR2.68 billion last year.

STMicroelectronics, on the other hand, is down 2.9 percent to EUR30.97. Of note, Goldman Sachs cut target price to EUR36.50 from EUR42.50 per share. Deutsche Bank also downgrades the target price, raising it to EUR42.00 from EUR50.00.

Snam - in the red by 0.4 percent - announced Thursday that it had signed a binding agreement to acquire 100 percent of Edison Stoccaggio from Edison Spa for about EUR560 million.

On the MidCap, Intercos is giving up 0.9 percent, in its fourth bearish session.

Ariston Holding -- in the red by 13% before going into volatility auction -- on Thursday reported second quarter net revenues of EUR621 million from EUR766 million, down 19% from Q2 2023. Adjusted Ebit for the period was EUR27 million, down 66% from EUR80 million in Q2 2023.

Webuild -- in the green by 3.6 percent -- on Thursday reported that it closed the first half with adjusted net income of EUR82 million, more than tripling from EUR23 million in the first half of 2023. Adjusted revenues in the period were EUR5.5 billion from EUR4.6 billion as of June 30, 2023, up 20 percent.

Maire Tecnimont, meanwhile, is rallying 1.2 percent after two sessions closed in the red.

On the SmallCap, Somec is giving up 3.4 percent, after two sessions closed in the red.

Aedes -- in the green by 1.8 percent -- on Thursday reported that it worsened its first-half loss to EUR901,000 from EUR790,000 as of June 30, 2023. Revenues in the period stood at EUR7,000 from EUR47,000 in the first half of 2023.

Beghelli, meanwhile, advances 1.8 percent to EUR0.23 per share, rearing its head after five bearish sessions.

Among SMEs, Compagnia dei Caraibi advances 3.8 percent to EUR0.9860, rebounding after five bearish sessions.

Edil San Felice, on the other hand, advances 3.2 percent to EUR4.26 per share, following a 3.7 percent redline on the eve of the session.

E-Globe, on the other hand, is giving up 5.6 percent to EUR1.18 per share, on its seventh bearish candle.

In New York overnight Europe, the Dow closed up 0.2%, the Nasdaq gave up 0.9%, and the S&P 500 closed down 0.5%.

Among Asian exchanges, the Hang Seng is picking up 0.4 percent, the Nikkei gave up 0.5 percent, while the Shanghai Composite picked up 0.1 percent.

Among currencies, the euro changed hands at USD1.0852 against USD1.0861 on Thursday in closing European equities while the pound is worth USD1.2859 from USD1.2886 on Thursday evening.

Among commodities, Brent crude is trading at USD82.50 per barrel from USD80.36 per barrel at Thursday's close. Gold, on the other hand, trades at USD2,366.50 an ounce from USD2,421.29 an ounce last night.

Friday's macroeconomic calendar, at 1000 CEST, focus on Italy's consumer and business confidence.

From the US, eyes on PCE, with the Fed's preferred inflation measure to be released at 1430 CEST. Household confidence will be released at 1600 CEST while the day will close, at 1900 CEST, with Baker Hughes drilling rig data.

Among the companies on the stock market, Terna, TrenDevice, Pharmacosmo and Next Re will release results, among others.

By Maurizio Carta, Alliance News reporter

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