(Alliance News) - On Friday, major European stock markets are expected to be in negative territory as they digest recent central bank decisions and with Milan awaiting producer price data and corporate results continue to be released.

Thus, IG futures give the FTSE Mib down 0.3 percent or up 95.0 points after closing up 2.1 percent at 29,597.81.

Paris' CAC 40 is expected to be down 17.9 points or down 0.2 percent, Frankfurt's DAX 40 is given down 0.2 percent or down 31.9 points, while London's FTSE 100 is expected to be down 0.2 percent or 18.0 points.

In macroeconomic news, the Bank of Japan said Friday it will allow "greater flexibility" in controlling bond yields while raising its full-year inflation forecast to 2.5 percent from the previous estimate of 1.8 percent.

The central bank said it will continue to allow 10-year JGB yields to "fluctuate in the range of about 0.5 percentage point above and below the target level, while conducting yield curve control with greater flexibility regarding the upper and lower bounds of the range as references, not as hard limits," it said in a statement.

Among other listings in Milan, the Mid-Cap advanced 1.6 percent to 42,749.35, the Small-Cap rose 0.8 percent to 27,007.60, and Italy Growth was up 0.2 percent to 9,086.02.

On the highest-capitalization list in Piazza Affari, STMicrolectronics closed up 9.0 percent in appreciation. The company on Thursday presented financial results for the second quarter ended July 1, reporting net revenues of USD4.33 billion from USD3.84 billion in the same period of 2022. Net income for the period amounted to USD1.00 billion which compares to USD867 million in the second quarter of 2022. Net income per share, after dilution, increased to USD1.06 from USD0.92 in the same period of 2022.

Moncler remained well placed at the top with a rise of 6.8 percent after reporting Wednesday that it ended the first half of the year with net income of EUR145.4 million, down from EUR211.3 in the same period last year, which, however, included an extraordinary tax benefit of EUR92.3 million related to the acquisition of Stone Island. Revenues rose 24% to EUR1.14 billion from EUR918.4 million, with Moncler's up to EUR935.0 million or 29% year-on-year and Stone Island's up to EUR201.6 million or 5% year-on-year. In the second quarter alone, Moncler's revenues were up 32% and those of the subsidiary up 5%.

High quarters also for Stellantis, which closed in the black by 5.3 percent after announcing Wednesday that it posted a net profit of EUR10.92 billion in the first half of the year, up 37 percent from the first half of 2022, when it was EUR7.96 billion. Net sales for the period amounted to EUR98.37 billion, up 12 percent from EUR88.00 billion in the same period of 2022.

Prysmian -- up 4.1 percent -- on Thursday approved consolidated group results for the first half, which ended with net income attributable to parent company shareholders of EUR405 million compared to EUR259 million in the corresponding period of 2022.

Among the few bearish performers, Banca Monte dei Paschi took a step back 1.2 percent to EUR2.58, after 3.6 percent green on the eve.

Also on a negative note was ERG, which posted minus 1.1 percent on the eve of the publication of its half-year accounts.

On the Mid-Cap, Buzzi Unicem advanced 5.6 percent to EUR26.32. The stock touched a 52-week high at EUR25.94 per share during the day.

Significant buying was also seen on De' Longhi, which marked a green of 4.4 percent, on the heels of eve's green with 1.1 percent.

Brembo - flat at EUR13.24 - reported Thursday that it ended the first half of the year with revenues up 12 percent year-on-year to EUR1.95 billion from EUR1.75 billion in the same period a year earlier.

Piaggio & C rallied 2.4 percent after reporting Thursday that it closed the first half of the year with revenues of EUR1.17 billion, the highest ever for the period, up 11 percent from EUR1.05 billion in the same period a year earlier. Operating profit grew 37 percent to EUR117.6 million from EUR85.8 million and pretax profit improved 35 percent to EUR98.2 million from EUR72.9 million. The Vespa company's net income grew to EUR64.8 million from EUR45.2 million or 43%.

Tod's advanced 0.4 percent. It reported Wednesday that in the first half of the year, total sales amounted to EUR569.1 million, up 22 percent from EUR467.5 million in the same period last year. All of the group's brands posted solid double-digit revenue growth in the first half of the year.

Among the negative notes, few on the list, Ariston Holding gave up 1.3 percent after a 0.5 percent green light on the eve of the meeting.

On the Small-Cap, strength on Alkemy, which took home a plus 3.3 percent to EUR10.64 per share, breaking an eight-session downtrend.

Triboo, meanwhile, advanced 4.8 percent, rearing its head after two sessions in the red.

Fiera Milano--flat at EUR2.41--reported Wednesday that it had approved its results as of June 30, having reported a net profit of EUR25.7 million from EUR5.3 million in the same period a year earlier. In the first half, consolidated revenues amounted to EUR132.2 million from EUR116.2 million as of June 30, 2022.

Among the SMEs on the Italian stock exchange, H-Farm took home 3.2 percent, after a 5.2 percent loss on the eve of the meeting.

Friulchem, on the other hand, advanced 2.8 percent, after two sessions ended in the red.

Relatech advanced 3.3 percent after reporting Thursday that it ended the first half of the year with revenues up 89 percent year-on-year to EUR48 million from EUR25.4 million in the same period a year earlier. The share of recurring revenues stood at about EUR18 million, up 112% from EUR8.6 million as of June 30, 2022, and accounted for 38% of revenues from consolidated sales. Overseas revenues are EUR13 million approximately, up 58% from the same period last year.

The board of directors of Marzocchi Pompe -- up 1.6 percent -- approved preliminary consolidated figures for the first half of the year on Wednesday, reporting consolidated net revenues of EUR26.6 million, up 4.4 percent from the first half of 2022, when they were EUR25.5 million, and up nearly 16 percent from the second half of last year.

In the red, Società Editoriale Il Fatto left 3.0 percent on the parterre, after a 4.1 percent loss on the eve.

In Asia, the Nikkei is in the red 0.4 percent to 32,753.31, the Hang Seng is gaining 1.4 percent to 19,910.47, and the Shanghai Composite is in the green 1.8 percent to 3,273.86.

In New York on Thursday, the Dow Jones closed down 0.7 percent at 35,282.72, the S&P gave up 0.6 percent to 4,537.41, as did the Nasdaq at 14,050.11.

Among currencies, the euro changed hands at USD1.0979 against USD1.0994 on Thursday in closing European equities while the pound was instead worth USD1.2790 from USD1.2866 on Thursday evening.

Among commodities, Brent crude is worth USD83.52 per barrel versus USD84.12 per barrel at Thursday's close. Gold, on the other hand, trades at USD1,951.30 an ounce from USD1,945.00 an ounce on Thursday evening.

On Friday's macroeconomic calendar, inflation from France is due at 0845. At 1000 CEST, it will be the turn of Italian manufacturing inflation.

At 1100 CEST, come consumer confidence and services and industrial sentiment from the Eurozone.

At 1430 CEST, the PCE figure is expected while in the evening it will be the turn, as usual, of the COT Report.

Among companies, several half-year results are expected, including Aeffe, Caltagirone, Intesa Sanpaolo, Leonardo and Recordati.

By Claudia Cavaliere, Alliance News reporter

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