(Alliance News) - Major European stock exchanges on Friday morning are expected to open higher according to IG futures, after closing all lower last night on the day the ECB announced its decision to raise its benchmark rates by 25 basis points.

Thus, the FTSE Mib is expected to rise 105.0 points or 0.4 percent after closing down 0.6 percent at 26,670.29.

In Europe, the CAC 40 is expected to open in the green by 27.7 points or 0.4 percent, the FTSE 100 is estimated to be up 25.7 points or 0.3 percent, while Frankfurt's DAX 40 is given up 40.5 points or 0.3 percent.

On the European night, overseas, stress around U.S. regional banks has all but diminished, "fueling the Fed's dovishness," as Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank, comments. "To date, the market is not only expecting three rate cuts in the second half of this year, but is also discounting the first potential rate cut for July," he added.

In fact, in yesterday's trading, overall "U.S. banks slipped close to 3 percent." PacWest's stock plummeted 50 percent, Western Alliance gave up as much as 60 percent before closing the session down 38 percent, First Horizon slumped more than 33 percent, and Goldman Sachs slipped more than 2 percent.

Among Italy's smaller lists last night, the Mid-Cap gave up 0.6 percent to 42,766.45, the Small-Cap lost 1.1 percent to 28,431.66, and Italy Growth closed down 0.2 percent to 9,138.31.

On the main list in Piazza Affari, Ferrari's stock rose 4.7 percent to EUR265.00. The prancing horse company said it reported net revenues of EUR1.42 billion in the first quarter of the year, up 20 percent from EUR1.18 billion recorded as of March 31, 2022. Net income stood at EUR297 million from EUR239 million in the same quarter of 2022, up 24 percent.

DiaSorin, on the other hand, appreciated 1.9 percent to EUR99.78, on the heels of eve's green, which closed up a timid 0.3 percent.

Assicurazioni Generali retreated 0.8% after reporting Thursday that it had reached an agreement with Frankfurter Leben to sell Generali Deutschland Pensionskasse AG, known by its acronym GDPK.

Poste Italiane gave up 1.1% despite its quarterly results to March 31, 2023, which were in line with guidance for the year. Profit was EUR540 million from EUR494 million in the same period a year earlier, up 9.4% Revenues were EUR3.0 billion from EUR2.8 billion, up 8.1%.

Leonardo's board of directors -- which fared worse and lost 5.8 percent -- on Wednesday reviewed and approved results for the first quarter, which closed with a net profit of EUR54 million from EUR56 in the comparable period. Revenues were EUR3.03 billion and were in line with the first quarter of 2022 in all business segments, "with an increase in Defense and Security Electronics and a slight increase in Aerostructures," the company's note specified.

On the Mid-Cap, Maire Tecnimont closed 5.2 percent in the red after approving on Wednesday its interim report for the year ended March 31 that ended with a consolidated net profit of EUR26.2 million, up 47 percent. Group net income amounted to EUR25.2 million, up 37 percent from the first quarter of 2022.

Tod's, on the other hand, gave up 1.9 percent to EUR38.00 per share, after four sessions ended on the bullish side.

Anima Holding, on the other hand, gave up 0.7 percent after announcing Thursday that the group's net inflows of assets under management in April were EUR86 million positive. In contrast, net inflows for the first four months were negative EUR482 million. At the end of April, the group's total assets under management stood at more than EUR182 billion.

On Wednesday, the board of directors of Acea -- in the red by 0.9% -- confirmed Fabrizio Palermo as the company's CEO and general manager, who was given powers for the day-to-day management of the company and the group.

On the Small-Cap, at the bottom is Giglio Group, which gives up 22 percent after letting it be known that the auditing firm BDO Italia has advised that it is unable to express an opinion on the financial statements as of December 31, 2023. "We do not express an opinion on the company's financial statements. We were not able to acquire sufficient and appropriate evidence on the evaluation of material items in the financial statements, including for the purpose of assessing the appropriateness of the use of the going concern assumption, in the preparation of the financial statements as of December 31, 2022," the auditing firm announced.

Giglio Group's board of directors "takes note of the conclusions reached" by BDO Italia "in the knowledge that it has acted correctly in the interest of the company and reserves further comments following a more in-depth examination of the reports."

Pierrel, on the other hand, lost more than 12 percent. The company announced Wednesday that it had signed agreements with 3M Company, a U.S.-based company whose shares are listed on the New York Stock Exchange, to acquire certain dental products for local anesthesia.

Positive note for Restart, which advanced 1.6 percent, positioning itself for the third session in a row on the bullish side.

Good buys also on Aeffe, pushing the stock ahead 3.4 percent, after a 1.1 percent gain on the eve of the session.

Finally, among SMEs, expert.ai rallied 7.0% to EUR0.7170, rearing its head again after three bearish sessions.

Casasold, on the other hand, rose 5.1%, after two sessions ended among the bearish.

On the negative side, however, GO internet gave up 8.8 percent to EUR0.12 per share.

EdiliziAcrobatica left 4.0 percent on the parterre after reporting Thursday that revenues in the first quarter of the year were EUR36.8 million, up nearly 11 percent from the first quarter 2022 figure of EUR33.3 million.

Fenix Entertainment, on the other hand, gave up 7.9 percent. On Friday it reported first-quarter 2023 production value at EUR7.5 million from EUR4.6 million in first-quarter 2022.

In Asia, as Japan celebrates Children's Day, the Shanghai Composite gives up 0.6 percent to 3,331.07 and the Hang Seng is in the green by 0.5 percent to 20,046.91.

In New York, the Dow Jones closed in the red 0.9 percent to 33,127.74, the Nasdaq gave up 0.5 percent to 4,061.22, and the S&P 500 finished in the red 0.7 percent to 4,061.22.

Among currencies, the euro changed hands at USD1.1036 versus USD1.1005 at Thursday's close. In contrast, the pound is worth USD1.2612 from USD1.2572 on Thursday evening.

Among commodities, Brent crude is worth USD73.27 per barrel versus USD72.39 per barrel on Thursday evening. Gold, on the other hand, trades at USD2,047.50 an ounce from USD2,049.67 an ounce at Thursday's close.

On Friday's macroeconomic calendar, at 0930 CEST from Italy it will be the turn of the construction PMI, along with the Eurozone PMI.

At 1000 CEST come Italian retail sales, followed at 1100 by Eurozone retail sales.

At 1430 CEST are nonfarm payrolls and the U.S. unemployment rate. At 1900 CEST, it's the turn of Baker Hughes plant data, and at 2230 CEST, as usual, the COT Report.

Among companies, results from Almawave, Anima Holding, CNH Industrial, Esautomotion, Intesa Sanpaolo, Piaggio and Terna are expected.

By Chiara Bruschi, Alliance News reporter

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