(Alliance News) - Major European stock exchanges are trading tentatively upward on Friday, with trading rooms assessing the results that are gradually making their way onto daily calendars, while still adopting a wait-and-see approach ahead of an important week for monetary policy.

The FOMC decision is expected next Wednesday, and the Fed is expected to reduce rate hikes to 25 basis points from 50 basis points in December, while both the BoE and the ECB will provide an update on Thursday and are likely to maintain a 50 basis point increase.

On the domestic side, industrial sales in Italy in November increased on a monthly basis after a contraction in October and rose, albeit at a slower pace than the previous month, on an annual basis, according to estimates released by Istat on Friday. Italian industry sales rose 0.9 percent on a monthly basis in November after falling 0.8 percent in October while on a year-over-year basis, November's 12 percent increase followed a 13 percent rise in the previous month.

The FTSE Mib, therefore, marks a green of 0.4 percent to 26,310.91.

In Europe, London's FTSE 100 rises 0.2 percent as does Paris' CAC 40 while Frankfurt's DAX 40 is up 0.3.

Among the smaller lists, the Mid-Cap is in the green 0.1 percent to 43,292.78, the Small-Cap is up 0.1 percent to 29,620.65 and Italy Growth is in the green 0.2 percent to 9,627.05.

On the main list of Piazza Affari, Telecom Italia gives way, which stands at EUR0.2530 with a red of 1.2% following the previous three sessions that ended among the bearish.

Also trailing is Recordati, which depreciates 1.1 percent.

Sales prevail - as in most of the list - for Interpump, which marks a minus 0.8% after eve's green with 1.9%.

Leonardo, on the other hand, retreats 0.5 percent, placing the price at EUR9.51. The company received target price increases from Société Générale and Deutsche Bank in the previous day.

Among the positive notes was CNH Industrial, which rose 2.1 percent to EUR16.23. The stock touched a 52-week high at EUR16.34 and then retraced.

Also advancing well is Moncler, which scores a plus 2.0 percent, on the heels of the 0.3 percent green marked the previous session.

In the cadet segment, Safilo gives up 8.1% to EUR1.46. The board of directors said it reviewed some of the key preliminary figures for fiscal year 2022, reporting revenues of EUR1.07 billion, up 11% from EUR969.6 million in the same period last year. In the fourth quarter of the year, preliminary net sales amounted to EUR245.4 million, up 5.7 percent from EUR232.2 million in the fourth quarter of 2021.

Wiit also trails behind, contracting 1.8% after a 0.8% green in the previous session.

Piaggio, on the other hand, rises 2.6 percent. The Vespa company released preliminary figures for fiscal year 2022 on Thursday, reporting consolidated revenues as of Dec. 31 of EUR2.09 billion, up 25 percent from the EUR1.67 billion reported for all of 2021.

On the Small-Cap, SS Lazio steps up 4.4 percent, setting the new price at EUR1.0750. The stock shows high trading volume, with over 53,000 pieces traded against a three-month daily average of around 23,700.

Also advancing is Immsi, which benefits from the good results of Piaggio - in which it is a majority shareholder - rising 2.5 percent.

At the tail end, Eems gives up 5.1 percent, although it should be mentioned the low price at EUR0.0414 and the volatility that indicates on an annual basis a value of 78.

Among the SMBs, however, the bullish side sees Alfonsino's asset, which moves ahead more than 10%.

Allcore marks a plus 5.1 percent to EUR2.2 following up the eve's green with 2.8 percent.

Deodato.Gallery reverses downward after a profitable start. The stock-which made its debut on Piazza Affari this Wednesday-marks a decline of 1.7 percent.

Destination Italia and Portale Sardegna online travel agency, which specializes in the incoming tourism sector in destinations in Sardinia, Puglia, Sicily and the rest of Italy, both listed on Euronext Growth Milan, announced that their respective boards of directors, which met today, approved the joint plan to merge Portale Sardegna into Destination Italia.

For Destination Italia the rise is 4.2 percent, while Portale Sardegna is flat with the price at EUR3.17.

In New York-over the European night-the Dow closed in the green by 0.6 percent, the Nasdaq up 1.8 percent, and the S&P 500 up 1.1 percent.

Among currencies, the euro changed hands at USD1.0891 versus USD1.0086 at Thursday's close. In contrast, the pound is worth USD1.2381 from USD1.2355 on Thursday evening.

Among commodities, Brent crude is worth USD88.64 per barrel from USD87.70 per barrel on Thursday evening.

Gold, on the other hand, trades at USD1,928.90 an ounce from USD1,935.44 an ounce last session.

Friday's economic calendar, in the afternoon at 1430 CET, data on the PCE index, core personal spending and personal income arrive from overseas.

By Maurizio Carta, Alliance News reporter

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