(Alliance News) - European stock markets moved in a bullish trend Friday after data showed the euro area inflation rate slowed more than expected to a more than one-year low of 6.9 percent in March.

However, the core index reached a new all-time high. The ECB-under the most supported assumptions-may proceed with further rate hikes, but these may come at a slower pace, given also the recent problems in the financial/banking system.

The February German retail trade report showed an unexpected drop in sales, and U.K. economic growth was revised slightly upward in the last three months of 2022.

The trading rooms now await the U.S. inflation data to be released later in the day. In this regard, in the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate, or EFFR, the main rate hike for the May 3 meeting has a 45% probability priced in for confirmation in the 475/500 bps range.

In contrast, the probability of an increase in the 500/525 bps area, an increase equivalent to 25 bps, is at 55%. The current target is between 475 and 500 bps.

Thus, the FTSE Mib, marks a green of 0.2 percent at 26,067.17.

Among the smaller listings, the Mid-Cap is in the green 0.3 percent at 43,741.05, the Small-Cap is giving up fractionally at 30,009.55, and Italy Growth is just below par 0.3 percent at 9,402.47.

In Europe, Paris' CAC 40 is advancing 0.5 percent, while London's FTSE 100 is up 0.2 percent and Frankfurt's DAX 40 is picking up 0.4 percent.

On the main list in Piazza Affari, Moncler rises 1.4 percent after closing slightly in the red in the previous session.

ERG advances 1.4 percent, pointing its snout toward its third bullish session.

Tenaris, on the other hand, advances 0.2% bringing its price to EUR13.10 per share. The company reported Thursday that its Brazilian subsidiary Confab Industrial, along with its subsidiaries Ternium Investments and Ternium Argentina, which make up the T/T Group within the Usiminas control group, have signed a share purchase agreement to take over 68.7 million ordinary shares of Usinas Siderúrgicas de Minas Gerais SA from Nippon Steel Corporation, Mitsubishi and MetalOne.

Telecom Italia, on the other hand, picks up 0.7 percent. As Francesco Bonazzi wrote in Alliance News, "the Telecom knot, namely the presence on the shareholder's book of a rocky first shareholder like Vivendi, is finally coming to the boil and the Network game will soon be up to the Italian government, so far a cautious observer. Instead, the resolution of the ITA Airways rebus comes fully into focus, with Lufthansa negotiating on the price and apparently oriented to offer EUR200 million."

Among the bearish, Monte dei Paschi gives ground by 1.0 percent to EUR1.97 reversing course after three bullish sessions.

On the Mid-Cap, Ariston Holding rises 2.8% with price at EUR10.00 per share.

Brunello Cucinelli advances 2.7 percent, bringing the price to EUR95.55 near a 52-week high.

Ariston Holding, on the other hand, advances 2.7 percent to EUR10.00 and on which it is mentioned that HSBC began coverage by pricing it at EUR14.00.

The head of the list, however, is for LU-VE, which rises 2.9% to EUR32.05 per share.

Buzzi Unicem, which is giving up 1.5 percent to EUR22.43 after eve's loss, albeit by 0.1 percent, gives way. The cement company in the week reported a profit of EUR458.8 million down from EUR542.3 million in 2021. The board also approved a proposed dividend of EUR0.45 per share, effective May 24, 2023 with an ex-dividend date of May 22, 2023 and "record date" May 23, 2023.

On the Small-Cap, Netweek advances 7.5 percent to EUR0.0430, following eve's green with 2.6 percent.

ePrice is equally in the high quarters rising 5.7%, although it should be remembered that it is priced at EUR0.0130.

Aeffe rises 4.7 percent to EUR1.2880. The stock-which has been missing the ex-dividend since 2009-positions for the third session to end among the bullish.

Giglio Group, on the other hand, gives up more than 12 percent, closing down the list and following up on the previous two bearish sessions.

Among SMEs, Datrix advances more than 10 percent to EUR3.15 per share, on its fourth session to finish bullish.

Agatos on the other hand marks an asset of more than 12%. The stock trades high above 333,500 compared to a three-month daily average of about 140,700.

Caribbean Company - down 4.4 percent - reported that it ended fiscal year 2022 with an adjusted net profit of EUR3.5 million, up 32 percent from EUR2.6 million as of Dec. 31, 2021. Revenues amounted to EUR56.1 million, up about 31 percent from EUR43.0 million in 2021.

At the tail end, Go Internet gives up 9.3 percent, the subject of profit-taking after rallying more than 20 percent in two sessions.

In New York on European night, the Dow Jones closed up 0.4%, the S&P up 0.6%, and the Nasdaq advanced 0.7%.

Among currencies, the euro changed hands at USD1.0884 against USD1.0900 at Thursday's close. In contrast, the pound is worth USD1.2368 from USD1.2371 on Thursday evening.

Among commodities, Brent crude is worth USD78.62 per barrel versus USD79.06 per barrel on Thursday evening. Gold, on the other hand, trades at USD1,978.18 an ounce from USD1,973.67 an ounce at Thursday's close.

On Friday's economic calendar, at 1000 CET it is the turn of Italian industrial sales, followed at 1100 CET by inflation.

Also at 1100 CET are Eurozone macros, including CPI and the unemployment rate.

At 1430 CET will come US macros, including the price index for personal expenditures. At 1600 CET the Michigan confidence index is scheduled.

By Maurizio Carta, Alliance News reporter

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