(Alliance News) - The Mib is moving slightly lower Friday in the aftermath of the European Central Bank's first interest rate cut while the U.S. jobs report is awaited for more clues as to when -- the conditional is in order -- the Federal Reserve may consider reducing the cost of money.

Among the data released this morning, in the first quarter of 2024, Gross Domestic Product increased by 0.3 percent in the euro area compared to the previous quarter, according to an estimate released by Eurostat on Friday. In the fourth quarter of 2023, GDP had decreased by 0.1 percent.

Compared with the same quarter a year earlier, GDP increased by 0.4 percent after 0.2 percent in the previous quarter. The data are in line with analysts' estimates.

The Mib, therefore, moves down 0.5 percent to 34,646.34.

In Europe, London's FTSE 100 is giving up 0.6 percent as is the CAC 40 in Paris while Frankfurt's DAX 40 is marking a 0.7 percent red.

Among the smaller listings, the Mid-Cap is in the red by 0.2 percent to 47,986.26, the Small-Cap is advancing with 0.2 percent to 29,529.50 while Italy Growth is marking a red by 0.2 percent to 8,187.87.

On the Mib, buoyancy on Tenaris, bullish since the bell rang, which is advancing 0.2% to EUR14.85 per share after a 0.5% gain on the eve of trading.

Leonardo, on the other hand, advances just above par, with new price at EUR23.75, in its second bullish since the bell rang, following 0.3% red in the previous session.

Red for Azimut, which moves down 0.2 percent after eve's flat session. The company reported Thursday that it posted inflows of EUR6.9 billion in May. The May figure brings the cumulative since the beginning of the year to EUR9.0 billion, exceeding the full-year 2024 target of EUR7 billion. The May figure includes EUR6.1 billion from the previously announced acquisition of tru Independence, an advisory services provider based in Portland, Oregon, with total assets of USD12.5 billion by Sanctuary Wealth, in which Azimut Group holds a 53.4 percent stake.

Banca Popolare di Sondrio is giving up 0.6 percent, after a 1.6 percent gain on the eve of the meeting.

On the other hand, the tail end of the list is for Iveco, which marks a minus 2.8%, veering downward after two bullish sessions.

On the cadet segment, boost on Intercos, which takes the price up 2.3% to EUR15.78 per share, heading for its third bullish session.

Sanlorenzo is picking up 2.7 percent to EUR43.35, heading for its third bullish session.

Piovan is also advancing 1.3%, following eve's contraction of 2.5%.

Saras--in fractional green--reported Thursday evening that Vitol had received clearance from the European Commission for the merger to acquire a controlling stake in Saras' share capital. The transaction was disclosed to the market last February.

Anima Holding--declining 0.4 percent--reported Thursday that it had negative asset management inflows of EUR206 million in May. Excluding class I insurance proxies, inflows were positive EUR215 million while year to end was negative EUR384 million. Total assets under management at the end of May exceed EUR196.9 billion.

On Small-Cap, boost on doValue, which moves ahead 4.5 percent. The company reported Thursday evening that it had signed a binding agreement to acquire 100 percent of Gardant's share capital for EUR230 million in cash, including EUR50 million related to the refinancing of net financial debt, plus the issuance of new shares, at a premium to current market value, corresponding to a 20 percent stake in doValue to Gardant shareholders.

Aedes, on the other hand, is advancing 4.6 percent, after a flat session on eve.

Conafi, on the other hand, is giving up 3.6 percent, after sitting up 0.4 percent on eve.

Among PMIs, Estrima is instead marking a plus 7.7 percent, after 2.0 percent in the previous session.

Bellini Nautica, on the other hand, advances 2.6%, in position for the fourth session to close with a bullish candle.

At the tail end, Iervolino & Lady Barcardi gives up 4.7%, as it awaits tri-annual accounts due later in the day.

In New York last night, the Dow closed in the green by 0.2%, the Nasdaq gave up 0.1%, and the S&P 500 closed in the fractional red.

Among currencies, the euro changed hands to USD1.0893 from USD1.0882 in Thursday's European stock close while the pound was worth USD1.2797 from USD1.2781 last night.

Among commodities, Brent crude is trading at USD79.94 per barrel from USD79.70 per barrel at Thursday's close. Gold, on the other hand, trades at USD2,335.71 an ounce from USD2,373.98 last night.

On Friday's macroeconomic calendar, from the States, at 1430 CEST, the unemployment rate will be coming in, while at 1900 CEST, Baker Hughes data will be released. Aller 2130 CEST, as usual on Friday, coming up is the COT Report.

By Maurizio Carta, Alliance News reporter

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