(Alliance News) - On Friday, the Mib index closed in the green leading the rises of the major European stock exchanges on a day when the Senate's approval of the U.S. debt ceiling bill and expectations of a potential pause in the Federal Reserve's tightening cycle were the drivers.

Thus, the FTSE Mib closes up 1.9 percent to 27,068.33, the Mid-Cap rises 1.6 percent to 42,834.82, the Small-Cap rises 0.8 percent to 27,499.46, while Italy Growth gains 0.8 percent to 9,163.64.

In Europe, London's FTSE 100 ends up 1.6 percent, Paris' CAC 40 rises 1.9 percent, and Frankfurt's DAX 40 is in the green by 1.3 percent.

In macroeconomic news, the U.S. economy unexpectedly added 339,000 jobs in May 2023, well above the market forecast of 190,000, and after an upward revision of 294,000 in April.

The unemployment rate also increased to 3.7 percent in May 2023, the highest since October 2022 and above market expectations of 3.5 percent. Despite this increase, the unemployment rate remained historically low and suggested that the labor market remained tight.

In Milan, on the highest-capitalization list in Piazza Affari, Saipem does well, posting a plus 5.6 percent with price at EUR1.27 per share and taking the top spot.

Other oil stocks also climb, with Tenaris gaining 3.6 percent, Eni up 2.8 percent and ERG up 1.4 percent.

Utilities are also up, with Italgas picking up 2.6 percent. The company on Thursday successfully concluded the launch of a new bond issue with maturity June 2032, fixed-rate and in the amount of EUR500 million, annual coupon of 4.125%, in implementation of the EMTN Program launched in 2016 and renewed by a board resolution on September 15, 2022.

Moncler rises 4.0%. As noted in a ProiezioniDiBorsa focus Thursday regarding Moncler stock, "a buy signal has been triggered on this stock. A new bullish phase may be coming," the analyst team writes. "For this to happen, in fact, it is crucial that resistance in the EUR64.41 area is broken to the upside," the analysis on the stock concludes.

Intesa Sanpaolo - in the green by 1.9 percent - and Enel X, an Enel company - in the green by 1.5 percent - dedicated to the development of innovative energy efficiency solutions, signed an agreement on Thursday to encourage investments in energy from renewable sources and the consequent energy autonomy of companies and the country through a synergy aimed at incentivizing the creation of Renewable Energy Communities in the country.

In the red are Campari, down 0.1 percent, and Inwit, down 0.3 percent,

On the cadet segment, Maire Tecnimont--up 1.1 percent--announced Thursday that its subsidiary KT-Kinetics Technology, part of the Integrated E&C Solutions business unit, has been awarded preliminary engineering work for a new green fertilizer complex in North America by a group of private investors.

OVS--green by 1.0 percent--reported Thursday that it purchased 171,961 shares of its own common stock between May 25 and May 31. The shares were taken over at an average price per share of EUR2.5061, for a total value of about EUR431,000.

Iren--up 0.5 percent--reported on Wednesday that the ocntorllated Ireti Spa had acquired a 2.4 percent stake in AcquaEnna from Cogen Spa, thus rising to 50.9 percent of the latter's capital, which will now be consolidated.

AcquaEnna has been managing water service in all municipalities of the Province of Enna since 2004 following the award of a tender procedure that ensured the entrustment of the service to the corporate structure established for the purpose until 2034.

The operation, already envisaged in the business plan, has an expected Ebitda in 2023 of about EUR9 million.

Fincantieri rises 1.4 percent after announcing on Thursday that it and its subsidiary Vard signed a memorandum of understanding with Heddle Shipyards, Thales Canada and SH Defence at CANSEC 2023, Canada's largest defense exhibition, to enshrine the collaboration that will offer the Vigilance Class Offshore Patrol Vessel as part of the Canadian government's upcoming naval acquisition strategy to replace the Kingston Class.

Industrie De Nora gains 0.7 percent after announcing Thursday that it has received Roberto Cingolani's resignation from his position as independent non-executive director and member of the Strategy Committee, effective immediately, due to workload and incompatibility with his new position as CEO of Leonardo Spa.

On Small-Cap, KME Group -- up 1.0 percent -- on Thursday informed that, following the fulfillment of the conditions precedent stipulated in the agreement, KME SE, its main subsidiary, executed the agreement signed with Golden Dragon Precise Copper Tube Group Inc concerning the sale of its 50 percent stake in the KMD Holdings Limited joint venture and the purchase of 100 percent of the shares in KMD Connectors Stolberg GmbH. The execution of the transaction, as stipulated in the contract, resulted in net proceeds of approximately USD53 million, of which approximately USD43 million related to the purchase and sale of the shares and the payment of commercial positions, as well as USD10 million for the repayment of outstanding loans.

Mondo TV rises 0.9 percent after reporting Thursday that it has signed a distribution agreement with LEE Editorial for the distribution of the live action series "Action KidZ."

The exclusive worldwide distribution agreement runs for four years starting June 1 and provides for revenue sharing between the parties.

Among SMEs, Sciuker Frames flies 12 percent after reporting Thursday night that it has signed binding contracts to purchase the entire share capital of D&V Serramenti Srl and Diquigiovanni Srl.

Estrima--down 2.2 percent--reported Thursday that it had signed an important agreement with Top Mobile 5, a company based in Zagreb, Croatia and represented by Nikola Busljeta, for the sale, rental and distribution of Birò, the smallest four-wheeled electric vehicle, in Slovenia and Croatia.

After the first six Biròs supplied as proof of concept in February, now, the agreement includes an initial supply of 30 Biròs and a series of marketing initiatives to promote the brand in the Croatian and Slovenian markets.

The initiative is part of Estrima's growth and expansion strategy, which includes conquering new markets with high growth potential and opening new locations in Europe.

In New York, at the height of trading Friday, the Dow is in the green by 1.9 percent, the Nasdaq is up 1.0 percent, and the S&P 500 is up 1.4 percent.

Among currencies, the euro changes hands at USD1.0726 versus USD1.0731 on Thursday in closing European equities. In contrast, the pound is worth USD1.2475 from USD1.2522 last night.

Among commodities, Brent crude is worth USD75.83 per barrel versus USD72.68 per barrel last night. Gold, on the other hand, trades at USD1,981.55 an ounce from USD1,974.36 an ounce Wednesday night.

Monday's macroeconomic calendar features Japan's services PMI index at 0230 CEST.

At 0345 CEST it is the turn of the Chinese purchasing managers' index for the services sector and the composite PMI index.

In Germany at 0800 CEST the trade balance and purchasing managers' index for the services sector is released.

At 0830 CEST it is the turn of Swiss inflation.

Between 0915 CEST and 1030 CEST come the purchasing managers' index and the composite PMI index for Spain, Italy, France, Germany, the Eurozone and the UK.

At 1100 CEST it is the turn of the Eurozone producer price index.

Overseas, the composite PMI and purchasing managers' index for the United States is released at 1545 CEST.

Among companies listed on the Milan Stock Exchange, Lifestyle Group's results are expected.

By Claudia Cavaliere, Alliance News reporter

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