(Alliance News) - European stock exchanges remain positive Friday in mid-session following the release of manufacturing PMIs, which were again found to have contracted in the Eurozone and major Old Continent countries.

Thus, the FTSE Mib is up 0.5 percent to 29,879.19, Mid-Cap advances 0.5 percent to 42,157.24, Small-Cap advances 0.3 percent to 26,104.29 while Italy Growth rises 0.4 percent to 7,940.15.

In Europe, Paris' CAC 40 advances 0.5 percent, Frankfurt's DAX 40 rises 0.8 percent while London's FTSE 100 rises 0.6 percent.

The Eurozone manufacturing PMI index, then, stands at 44.2 an improvement from 43.1 in October but still below the 50-point mark that separates growth from contraction, signaling a new deterioration in conditions in the sector.

In addition, Italy's Gross Domestic Product grew 0.1 percent on both a quarterly and annual basis in the third quarter, slowing sequential growth, Istat reported Friday.

Italy's economy improved by 0.1 percent in the third quarter after growing by 0.3 percent in the previous quarter on a cyclical basis.

On the main list in Piazza Affari, CNH Industrial remained on top with a 2.0 percent rise. The company announced that on Thursday S&P Global Ratings raised the long-term credit rating of the company and its subsidiary, CNH Industrial Capital LLC, to "BBB+" from "BBB."

S&P Global Ratings also affirmed the "A-2" short-term credit rating.

In addition, CNH points out in a note, S&P Global Ratings raised the issue-level ratings of CNH Industrial and its industrial subsidiaries, as well as the issue-level ratings of CNH Industrial Capital LLC's senior unsecured debt to "BBB+" from "BBB."

Next comes Prysmian -- in the green by 0.9 percent -- announced Thursday that it has been awarded a contract worth about EUR850 million awarded by Eastern Green Link 1 Limited involving the supply of cable systems for a major national grid development project between Scotland and England.

Tenaris did well, in the green by 1.8 percent. The company announced Thursday that it has completed the acquisition from Mattr - MATR.TO - of the pipeline coating business unit for USD182.6 million, including estimated working capital and USD16.9 million.

Intesa Sanpaolo - up 0.8 percent - announced Thursday that it has received the final decision from the ECB regarding the capital requirement to be met as of January 1, 2024 at the consolidated level, following the outcomes of the Supervisory Review and Evaluation Process.

The total capital requirement to be met in terms of Common Equity Tier 1 ratio is 9.32 percent. Intesa Sanpaolo's capital ratios at the consolidated level as of September 30, 2023 are 13.6 percent for the Common Equity Tier 1 ratio, 19.2 percent for the Total Capital ratio.

The ECB has stipulated that, as of January 1, 2024, BPER Banca must maintain on a consolidated basis a minimum capital ratio in terms of Common Equity Tier 1 ratio of 8.54%, consisting of the sum of the minimum regulatory Pillar 1 requirement of 4.5%, the additional Pillar 2 requirement of 1.38%1 and the Combined Buffer Requirement of 2.66%2, while the minimum Total Capital Requirement must be 13.11%.

As of September 30, the pro forma CET1 ratio was 14.9% and the pro forma Total Capital ratio was 18.6%.

On the Mid-Cap, Fincantieri gives up 0.2 percent. It announced Friday that it has finalized terms and conditions for the purchase from Advanced Technology Industrial Group of 100 percent of Remazel Engineering, for a consideration based on an enterprise value of EUR78 million. Closing is expected in the first quarter of 2024.

At the top is Technogym, which gives up 5.7 percent followed by Ferretti, up 2.7 percent.

Seco rises 2.1 percent after an eve's rise. On Thursday it informed that it has signed a new business agreement with a leading global manufacturer of fully automatic coffee machines designed for both home and professional use. The company expects the design win to generate revenues in excess of EUR50 million in the two-year period 2024-2025.

Sesa gives up 0.9 percent. The company announced on Thursday that it has signed through BDX, a subsidiary of Base Digitale Group, a partnership agreement with Gellify to develop an open finance platform in Wealth Management through the establishment of the DataCoreX joint venture, 66 percent owned by BDX and 34 percent owned by Gellify, with the aim of further expanding its product and solution offerings for the Financial Services market.

On the Small-Cap, Greenthesis -- in the red by 2.1 percent -- on Thursday reported that its newly formed wholly owned subsidiary Agromet Barbianello Srl had completed the purchase of the business unit of Alfalfa Energia Srl Società Agricola.

The configured branch, whose price has been quantified between the parties at about EUR3.2 million, is associated with annual sales in excess of EUR2.0 million.

Zucchi - in the green by 3.2 percent - reported Thursday that its board of directors approved its interim report for the nine months ended Sept. 30, reporting a profit of EUR2.9 million for the nine months, up from EUR1.4 million for the same period in 2022.

Banca Profilo - in the green at EUR0.21 - announced Thursday that Arepo BP Spa, the company's controlling shareholder and banking parent company of the Banca Profilo group, and Twenty First Capital, have agreed on an extension to March 20, 2024, of the deadline for the fulfillment of the conditions precedent stipulated in the preliminary purchase and sale agreement for a number of Banca Profilo shares representing 29 percent of its share capital, net of treasury shares.

Tessellis -- in the green by 0.5 percent -- and GO internet -- up theoretically by 22 percent -- have signed an agreement for Tessellis to invest in GO Internet.

Tessellis, through a possible corporate vehicle, will acquire a trade receivable owed by OpNet to GO Internet and subscribe to a reserved capital increase of GO Internet by offsetting this receivable, up to a maximum amount of approximately EUR3.4 million at a price per share of EUR0.00162.

As a result of the subscription of the reserved capital increase, Tessellis will indirectly acquire a majority stake in GO Internet, and after a mandatory tender offer for the shares of that company, the delisting of GO Internet's shares will be promoted.

Among SMEs, H-Farm -- in the green by 1.9 percent -- reported Thursday that it closed the year ended Aug. 31 with a loss of EUR8.9 million, from a profit of EUR17.7 million in the previous year. For the full year, the value of production stood at EUR36.1 million, down from EUR45.2 million in 2022.

Publishing Company Il Fatto is flat at EUR0.31 after opening up 2.6 percent. The board of directors on Thursday approved an update to the 2024-2026 consolidated business plan.

Following the entry of subsidiary Loft Produzioni Srl into the group's scope in December 2022, the Plan expresses the group's consolidated values.

Mondo Tv France - in the red by 2.0 percent - and Mondo TV Suisse - in the green by 2.3 percent - announced Thursday that their respective extraordinary shareholders' meetings approved the merger of Mondo TV Suisse into Mondo TV France.

The board, therefore, estimates a 2024-2026 CAGR1 2024-2026 of consolidated sales and service revenues of 14.9 percent, compared with the estimated CAGR for the three-year period 2023-2025 of 15.3 percent.

In New York, the Dow Jones closed up 1.5 percent at 35,950.89, the S&P finished in the green by 0.4 percent at 4,567.80 while the Nasdaq closed in the red by 0.2 percent at 14,226.22.

Among currencies, the euro changed hands at USD1.0887 against USD1.0905 recorded at Thursday's European stock close while the pound was worth USD1.2649 from USD1.2642 on Thursday evening.

Brent crude is worth USD80.90 per barrel versus USD80.83 per barrel at Thursday's close. Gold, meanwhile, trades at USD2,043.40 an ounce from USD2,038.51 an ounce on Thursday evening.

Friday's macroeconomic calendar in the US includes the manufacturing PMI data at 1545 CET, while at 1700 CET Federal Reserve number one Powell will speak. At 1900 CET, the Baker Hughes impants report will be released. At 2130 CET, as usual on Friday, there will be the release of the COT Report.

By Chiara Bruschi, Alliance News reporter

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