(Alliance News) - European stock markets are trading in a bearish trend on Friday, with trading rooms expressing all their concern over the situation in the Middle East, where the war between Israel and Hamas remains highly complicated.

Just on the war front, the entry of Israeli troops into Gaza is approaching, while the risk of a regional war in the Middle East increases. Yesterday, Israeli Defense Minister Yoav Gallant told troops that they would soon see "from the inside" the Gaza Strip. In contrast, the head of the Israel Defense Forces' southern command - Major General Yaron Finkelman - said the offensive would be "long and intense."

Among the macro data, new surveys painted a gloomy picture for UK retailers, with consumer confidence fell sharply in October. The GfK index of consumer confidence contracted nine points to minus 30 October, bringing it back to the level last seen in July last year. This comes at a time when uncertainties posed by the conflict in the Middle East are added to accelerating energy, fuel and mortgage costs.

Producer prices in Germany fell 14.7 percent year-on-year in September, compared with market forecasts of a 14.2 percent drop and after a 12.6 percent drop in August. The data were released Friday by Destatis. It was the third consecutive month of decline and the fastest pace since data collection began.

Thus, the FTSE Mib, marks a contraction of 0.7 percent to 27,557.96.

Among the smaller listings, the Mid-Cap is giving up 0.5 percent to 38,411.67, the Small-Cap is giving up 0.9 percent to 24,725.14, while Italy Growth is down 0.7 percent to 7,834.87.

In Europe, Paris' CAC 40 is giving up 1.2 percent, London's FTSE 100 is in the red by 0.7 percent, while Frankfurt's DAX 40 is marking minus 1.2 percent.

On the main list in Piazza Affari, Iveco is stepping back 2.9% to EUR8.11 per share, positioning its snout toward the fourth session to end among the bearish.

Contraction also for Generali, with the Trieste-based lion's stock posting a minus 2.3 percent. It should be noted that on the stock Barclays has lowered its target price to EUR32.70 from EUR34.40.

The banking sector lost ground, with Poste Italiane marking minus 2.2% and Banca Monte dei Paschi marking minus 2.0%.

STMicroelectronics also gives way, stepping back 1.3% with new price at EUR38.46 per share. On Friday, China announced new restrictions on exports of certain types of graphite, critical to making batteries for electric vehicles, just days after the United States imposed new restrictions on outflows of high-tech microchips.

Washington said this week that it will increase restrictions on exports of cutting-edge semiconductors, crucial for powering artificial intelligence systems, in the latest effort to curb Beijing's access to advanced technology.

Among the few positive notes, Terna is surging 0.7 percent, rearing its head after three sessions closed among the bearish.

On the cadet segment, Brunello Cucinelli is advancing well, moving ahead 4.1 percent. The company reported Thursday that revenues for the first nine months rose 28 percent year-on-year to EUR818.4 million from EUR642.0 million in the same period a year earlier. In Italy, revenues rose to EUR97.2 million from EUR78.0 million, in Europe -- excluding Italy -- they rose to EUR217.9 million from EUR184.2 million, in the Americas they improved to EUR284.7 million from EUR233.9 million, and in Asia they rose to EUR218.6 million from EUR146.0 million.

Good session, among the few bullish, also for Salcef, which is picking up 2.2 percent after 0.9 percent green on eve.

Salvatore Ferragamo loses ground, posting minus 3.2% with price at EUR11.54 per share. Of note, UBS cut its target price on the stock to EUR11.00 from EUR12.00.

Rear-ends also for Ariston Holding, which marks minus 2.8 percent after two sessions closed among the bullish.

Industrie de Nora closes the list, which retreats 4.7 percent with new price at EUR14.10 per share after eve's gain of 1.0 percent.

On the Small-Cap, good buying on Gabetti, which moves ahead by 2.7% after three sessions closed with bearish candle.

Also ahead is I Grandi Viaggi, which with a plus 3.5% places the price at EUR0.7640 after eve's loss with 2.6%.

On a negative note, among the list's many, Netweek is giving up 7.5 percent to EUR0.2350, which coincides with its new 52-week low.

Giglio Group, meanwhile, is retreating 4.5 percent, with price at EUR0.5100, in its third bearish session.

Among SMEs, expert.ai is giving up 5.1 percent with price at EUR0.8300 per share, bringing the weekly contraction over 13 percent.

Eles is marking a minus 4.3%, with price at EUR1.22, after hitting a 52-week low at EUR1.18.

Altea Grenn Power, on the other hand, is giving up 3.8 percent, after a 1.6 percent gain on the eve of the day that followed four sessions that ended among the bearish.

IDNTT, on the other hand, is advancing 3.4 percent, rearing its head again after a long bearish streak.

It does even better for ESI, which raises the bar 7.6 percent after two sessions among the bearish.

In New York on the European night, the Dow Jones closed 0.8 percent in the red, the S&P down 0.9 percent while the Nasdaq left 1.0 percent on the parterre.

Among Asian exchanges, the Hang Seng contracted 0.7 percent, the Nikkei gave up 0.5 percent, while the Shanghai Composite marked a red 0.7 percent.

Among currencies, the euro changed hands at USD1.0589 against USD1.0575 recorded at Thursday's European stock close, while the pound was worth USD1.2124 from USD1.2146 last night.

Among commodities, Brent crude is worth USD93.38 per barrel from USD91.21 per barrel at Thursday's close. Gold, on the other hand, trades at USD1,982.83 an ounce from USD1,965.50 an ounce last night.

On Friday's macroeconomic calendar, retail sales will come out of Canada in the afternoon, at 1430 CEST.

By Maurizio Carta, Alliance News reporter

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