(Alliance News) - The Mib index extended the positive balance with which it opened the session Friday, bringing the point bar just below 27,900. Investors are increasingly positioned in believing -- for the most part -- the assumption that the major central banks, and in particular the Fed, are nearing the end of the monetary tightening cycle.

However, one of the most influential Fed members has signaled his support for another increase in borrowing costs at the next meeting in May, despite the uncertainty given by the recent stress on the banking segment.

Indeed, Christopher Waller said Friday that the turmoil triggered by the failure of several medium-sized U.S. banks has not led to a "significant" tightening of U.S. lending conditions. With inflation, at 5 percent, still "well above" the Fed's 2 percent target and the labor market remaining "strong and fairly tight," monetary policy should "be tightened further," the central banker said.

"How much more will depend on incoming data on inflation, the real economy and the extent of tightening in credit conditions," Waller said.

Thus, the FTSE Mib closed in the green by 0.9 percent at 27,872.24.

Among the smaller listings, the Mid-Cap closed up 0.3 percent to 44,198.99, the Small-Cap up 0.1 percent to 29,942.84, and Italy Growth closed 0.4 percent in the red to 9,356.55.

In Europe, London's FTSE 100 closed up 0.4 percent, while Frankfurt's DAX 40 closed ahead 0.5 percent as did Frankfurt's DAX.

On the main list in Piazza Affari, good session for the banking sector. BPER Bank advanced 4.7 percent bringing the price to EUR2.51. On the stock it is mentioned that Capital Fund Management on Thursday cut its short to 0.97 percent from 1.00 percent previously.

FinecoBank, on the other hand, advanced 4.5 percent after a 1.7 percent loss on the eve of the day. The stock was previously coming off three bullish sessions in a row. On the stock Marshall Wace raised its short to 0.81 percent from 0.71 percent.

Intesa Sanpaolo, on the other hand, rallied 3.4 percent after a 0.3 percent loss on the eve closing with price at EUR2.4685.

Assicurazioni Generali -- up 0.5 percent -- announced Thursday that it has placed a new Euro-denominated Tier 2 bond maturing April 20, 2033, issued in green format under Generali's sustainability bond framework. The new securities are issued at the same time as Generali's announced cash buyback offer, with the aim of repurchasing an aggregate nominal amount of securities not exceeding EUR500 million.

Among the few bearish performers was Hera, which closed down 2.8 percent, following up Thursday's 1.5 percent red. The stock had previously come from four bullish sessions.

On the cadet segment advanced Intercos, which posted a plus 3.6 percent. The stock pushed during the session to its 52-week high at EUR15.18, then closed at EUR15.10.

The buy side also prevailed well on Salvatore Ferragamo, which posted a plus 2.5 percent echoing Thursday night's gain of 1.6 percent.

Another luxury stock also performed well, with Brunello Cucinelli closing up 2.9 percent on the heels of eve's 1.7 percent green. The company will release its quarterly results next Tuesday.

Among the many stocks on a negative note, Iren left 2.9% on the parterre and reversed a five-session bullish trend.

On the SmallCap, Mondo TV closed ahead 8.8 percent, in its fourth straight session ended on the bullish side.

Good buying also on Ratti, which made the stock appreciate 0.4 percent after a 0.7 percent decline in the previous session.

Giglio Group advanced 3.4 percent. The company on Thursday approved results as of December 31, 2022, reporting a loss of EUR2.1 million, an improvement from a loss of EUR4.6 million in 2021. Revenues, on the other hand, fell to EUR37.3 million from EUR38.8 million in 2021.

Neodecortech, on the other hand, gave up 0.9 percent, bringing its price to EUR3.45, after closing for three sessions in a row on the bullish side.

Civitanavi Systems left 4.9 percent on the parterre. The stock closed with a high trading volume of nearly 71,000, compared to the three-month daily average of about 9,200.

Among SMEs, Fenix Entertainment closed 7.5 percent in the red, subject to profit taking after six straight sessions on the bullish side.

On the bullish side, GM Leather advanced 6.6 percent to EUR1.78. There was a high trading volume of 26,000 pieces traded on the stock compared to the three-month daily average of about 10,800 pieces.

CrowdFundMe also closed on the high quarters, advancing 5.7 percent to EUR2.60 per share. The stock was coming off three sessions closed at a loss.

In New York, the Dow Jones is giving up 0.7 percent, the S&P is down 0.5 percent, and the Nasdaq is in the red by 0.7 percent.

Among currencies, the euro changes hands at USD1.0976 versus USD1.1026 at Thursday's close. In contrast, the pound is worth USD1.2412 from USD1.2521 on Thursday evening.

Among commodities, Brent crude is worth USD86.39 per barrel versus USD87.31 per barrel on Thursday evening. Gold, on the other hand, trades at USD1,996.32 an ounce from USD2,028.01 an ounce at Thursday's close.

On Monday's economic calendar, on a day poor in macro data, the Italian inflation figure is mentioned, coming in at 1000 CET.

In the afternoon, from the US, at 1430 CET the NY Empire State manufacturing index, while at 1730 CET an auction of 3- and 6-month Treasury bonds is scheduled.

In the corporate calendar of Piazza Affari, there are no particular events scheduled.

By Maurizio Carta, Alliance News reporter

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