(Alliance News) - European stock markets marked a bullish path Friday, encouraged by growing optimism that a resolution regarding the U.S. debt ceiling is now on the horizon.

President Joe Biden and Republican Congress Speaker Kevin McCarthy expressed their determination to reach a deal promptly to raise the government's debt limit.

Among the economic data, producer price inflation in Germany slowed to the lowest level in more than two years, suggesting that inflationary pressures in Europe's largest economy have eased further.

Also on the topic of inflation, consumer prices in Japan rose 3.4 percent year-on-year in April, in line with market expectations, according to government data released Friday. The figure, which excludes volatile fresh food prices, follows the 3.1 percent increase recorded in both March and February.

Thus, the FTSE Mib marks a green of 0.5 percent to 27,377.96 last night.

Among the smaller listings, the Mid-Cap is up 0.3% to 43,240.13, the Small-Cap is up 0.3% to 28,026.81, and Italy Growth is also up 0.3% to 9,132.42.

In Europe, London's FTSE 100 is advancing 0.3 percent, the CAC 40 is up 0.4 percent as is Frankfurt's DAX 40.

On the Mib, Saipem is advancing well, taking the price to EUR1.3240, after announcing Thursday that it has been awarded two new offshore contracts, one for an Engineering, Procurement, Construction and Installation project in the Black Sea and one for decommissioning activities in the North Sea. The total value of the contracts is about USD850 million.

A2A, on the other hand, rises 1.5 percent, rearing its head again after three bearish sessions.

Interpump Group--up 1.9 percent--announced Thursday evening the acquisition of 100 percent of the capital of Waikato Group. The transaction price was set at about EUR30 million.

Banca BPER Spa - following up on its agreements with AMCO - announced that it has concluded a transaction for the sale, for consideration, without recourse and en bloc, of a portfolio of Unlikely to Pay impaired loans of BPER Banca and its subsidiary Banco di Sardegna, to AMCO. The value is approximately EUR430 million. The stock is falling 1.5 percent to EUR2.65 per share.

On the cadet segment, Autogrill is off to a good start, picking up 3.5 percent taking the lead.

Fincantieri -- up 2.5 percent -- on Friday reported that the U.S. Department of Defense awarded Fincantieri's U.S. subsidiary, Marinette Marine (FMM), the contract to build the fourth "Constellation" class frigate, which is worth about USD526 million, for the U.S. Navy.

At the tail end, red for MFE stock, with both share types contracting. Class A gives up 0.4 percent, while Class B - which sits at the bottom of the list - depreciates 2.0 percent.

Red also for Juventus FC, with the Turin-based team also saying goodbye to theEuropa League after suffering a defeat at the hands of Sevilla.

On the Small-Cap, Fidia at the tail end contracted 2.9% after eve's gain of 5.2%.

SIT - in the red by 2 percent - approved Thursday its results as of March 31, 2023 reporting consolidated revenues of EUR83.6 million down 11 percent from EUR93.8 million in the first quarter of 2022.

Pierrel, on the other hand, is advancing 4.9%, giving ground after three sessions ended in the red.

Good buys also on Aquafil, which is taking home 2.9%. The stock, since the start of 2023, marks a red run of around 28 percent.

Among SMEs, boost on Italia Independent, which is advancing over 19% with price at EUR1.03.The stockis in its 17th straight session on the bullish side. Over the past month, the stock has appreciated by more than 350%. It is worth mentioning that ten days ago the Ivrea court handed down the rulings approving the restructuring agreements reached with its creditors by the company and its subsidiary Italia Independent. In addition, the court extended the effects of the restructuring agreements to non-party claims. In the reasons for the positive outcome, the judgments expressly pointed out that the group's path of reorganization initiated in June 2022 was only possible for both companies thanks to the contribution of external finance from the major shareholder, Lapo Elkann, in the amount of EUR12.8 million.

Gambero Rosso, on the other hand, advances 6.4 percent to EUR0.53 per share, positioning the snout toward the third session to end on the bullish side.

Among the few bearish, Alfio Bardolla retreats 2.7 percent, giving way after three sessions on the bullish side.

Grifal, on the other hand, gives up 1.2 percent, with price at EUR2.44, following up on the eve's red closed with minus 0.4 percent.

In New York, the Dow picked up 0.3 percent, the Nasdaq 1.5 percent while the S&P 500 advanced with 0.9 percent.

Among Asian exchanges, the Hang Seng is giving up 1.4 percent, the Shanghai Composite closed down 0.4 percent while the Nikkei picked up 0.8 percent.

Among currencies, the euro changed hands at USD1.0780 versus USD1.0777 at Thursday's close. In contrast, the pound is worth USD1.2417 from USD1.2425 last night.

Among commodities, Brent crude is worth USD76.49 per barrel versus USD76.04 per barrel on Thursday evening. Gold, on the other hand, trades at USD1,965.09 an ounce from USD1,955.41 last night.

On Friday's macroeconomic calendar, the Spanish consumer confidence index will be released at 1300 CEST.

At 1700 CEST, a speech by Fed Chairman Jerome Powell is expected, while at 2100 CEST ECB President Christine Lagarde will speak.

In Piazza Affari, the results of Lifestyle Group, Olidata and Innovatec are expected.

By Maurizio Carta, Alliance News senior reporter

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