(Alliance News) - The Mib Friday closed in positive territory in the 30,700 area after robust U.S. employment data tempered expectations of a March interest rate cut by the Federal Reserve.

U.S. nonfarm employment increased by 353,000 in January, exceeding market forecasts of 180,000, along with faster-than-expected wage growth.

As a result, the FTSE Mib closed up 0.1 percent to 30,717.95, the Mid-Cap retreated 0.2 percent to 45,218.51, the Small-Cap closed down 0.1 percent to 27,672.41, and Italy Growth fell 0.5 percent to 8,254.31.

In Europe, London's FTSE 100 closed down 0.1 percent, Paris' CAC 40 rose 0.1 percent, and Frankfurt's DAX 40 picked up 0.4 percent.

Ferrari halted its run in Piazza Affari and, after closing up 9.2 percent with new price at EUR353.50 on Thursday's session, closed 1.7 percent in the red at EUR347.50.

The Maranello-based company announced Thursday that it ended 2023 with "record results": revenues rose more than 17 percent to EUR5.97 billion from EUR5.10 billion recorded as of Dec. 31, 2022. Adjusted net income is EUR1.26 billion up 34 percent from EUR939 million in 2022, and adjusted diluted earnings per share is EUR6.90 from EUR5.09 in 2022.

Also, on the sporting side, the Cavallino made it official yesterday that Lewis Hamilton will join the Formula 1 team next year and replace Carlos Sainz, teaming up with Charles Leclerc.

Saipem equally left 1.7 percent on the parterre with new price at EUR1.31, after two sessions closed in the green. On the stock it is mentioned that Citadel Advisors cut its short position on the stock to 0.83 percent from 0.91 percent.

STMicroelectronics, on the other hand, gave up 0.7% to EUR40.19 on its third consecutive bearish candle.

Telecom Italia closed up 2.2% after it announced that it had received an offer from the Ministry of Economy and Finance to buy Sparkle. In the offer, "reference is also made to the possibility of negotiating a different option, with possible adjustments to the contractual conditions, in the event TIM retains a minority stake for a specific time frame and supports the implementation of the strategic plan," according to the note released.

Tenaris, on the other hand, rallied 1.7 percent, in its third bullish session.

Stellantis, on the other hand, brought home a plus 2.3 percent, in its fourth session on the bullish side. As Alliance News columnist Francesco Bonazzi writes in his "Affari in Piazza" column, "Yesterday, the Minister of Enterprise and Made in Italy, Adolfo Urso, said that the Italian state would be willing to take over a share of Stellantis' capital, as the government in Paris did at its founding, in order to secure employment in the factories in the Peninsula."

"The market seems to be reacting well to the hypothesis, even if it goes fully against the ambitious EUR20 billion three-year privatization plan just announced by Prime Minister Giorgia Meloni and Economy Minister Giancarlo Giorgetti," Bonazzi points out.

On the Mid-Cap, good buys on LU-VE, which rallied 3.1 percent, following eve's 1.7 percent decline. The stock had previously come from seven bullish sessions.

Juventus Football Club - up 1.6 percent - announced that it has reached an agreement with Southampton Football Club to acquire, on a temporary basis until June 30, 2024, the right to the sports performance of footballer Carlos Jonas Alcaraz Duran for a consideration of EUR3.7 million, plus ancillary charges of EUR200,000, which may be increased by an amount not exceeding EUR1.9 million upon the achievement of certain sporting objectives.

OVS--down 1.1 percent--reported that its full-year 2023 sales grew by about 1.4 percent, an increase that occurred mainly on a like-for-like basis. The second half of the year, contrary to general concerns about consumer trends, compounded by an abnormal continuation of summer temperatures, also saw sales holding up with the last quarter growing.

On the bearish side, Intercos slipped 3.9 percent, on its third consecutive bearish candle.

Maire Tecnimont--down 1.5 percent--announced that Nextchem, through its subsidiary Stamicarbon, has been awarded proprietary licensing and equipment supply contracts for an "Ultra- Low Energy" urea plant in China by Jiangsu Huachang Chemical Co, a publicly traded chemical company active in fertilizer production.

The plant, to be located in Zhangjiagang in Jiangsu Province, will have a capacity of 1,860 tons per day and will use Stamicarbon's Ultra-Low Energy design.

On the Small-Cap, Italian Exhibition Group appreciated 6.5 percent, following Thursday night's 5.6 percent green.

CSP International advanced 4.7 percent, on its fourth session with a bullish candle.

Geox gave up 7.1%, with new price at EUR0.7060. The company released preliminary consolidated revenues for FY2023 on Thursday, which came in at EUR719.6 million, down 2.2% from the previous year, when they were EUR735.5 million, up 0.3% at constant exchange rates, affected mainly by the negative performance of the DOS - Directly Operated Stores - channel and only partially offset by the positive performance of the Multibrand channel.

Fidia, on the other hand, contracted 7.4 percent to EUR0.48. The stock-which has been missing the ex-dividend since 2017-was the subject of profit-taking after its double-digit rise on the eve of the day.

Among SMEs, Health Italia fell 5.4 percent. The company announced Tuesday that it has approved a share split in the ratio of 1 new Health Italia ordinary share with regular dividend rights for every 100 existing Health Italia ordinary shares.

Altea Green Power, on the other hand, slipped 8.6 percent in its fourth session closed bearish.

Clabo closed down 0.4 percent. The company posted consolidated revenues of EUR63.4 million in 2023, up 7.0% from EUR59.3 million in 2022. Consolidated orders collected in the 12 months totaled EUR60.6 million compared to EUR52.4 million in 2022, up nearly 16%.

SG Co gained 8.6 percent after announcing Thursday that it had approved its new hydustrial plan to 2026. Economic and financial targets report sales of EUR50.3 million, Ebitda of EUR4.2 million, and an NFP/Ebitda ratio of less than 3.0x.

Destination Italia advanced 9.3 percent, with new price at EUR0.94 per share, after 1.2 percent red in the previous session.

Edil Sanfelice, on the other hand, marks a plus 4.2% at EUR3.46, updating its 52-week high on the day to EUR3.68 per share.

In New York, the Dow Jones is advancing 0.2 percent, the S&P is rising 1.0 percent, and the Nasdaq is advancing 1.5 percent.

Among currencies, the euro changes hands at USD1.0792 against USD1.0852 recorded in Thursday's European stock close while the pound is worth USD1.2640 from USD1.2710 on Thursday evening.

Brent crude is worth USD77.30 per barrel versus USD81.15 per barrel at Thursday's close. Gold, meanwhile, trades at USD2,034.71 an ounce from USD2,060.01 an ounce on Thursday evening.

On Monday's calendar, coming in at 0130 CET is Japan's services PMI, followed at 0245 CET by China's. At 0800 CET, Germany's trade balance will be coming in, followed at 0945 by Italy's services PMI, and then Germany's and, at 1000 CET, the Eurozone's.

At 1100 CET, from the Eurozone, coming in is the consumer price index figure.

From the US, at 1545 CET, coming in is the tertiary PMI, while at 2000 CET a speech by FOMC memebro Bostic is scheduled.

On the corporate calendar, coming up are results from Jonix, Nusco and Risanamento.

By Maurizio Carta, Alliance News senior reporter

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