(Alliance News) - On Friday, major European stock markets continued their positive opening course after Eurostat confirmed that Eurozone inflation in December accelerated to 2.4 percent year-on-year from 2.2 percent in November, as expected from the institute's preliminary estimates.

In December 2023, inflation was at 2.9 percent.

Thus, the FTSE Mib is in the green 1.1 percent to 36,200.34, the Mid-Cap picks up 1.1 percent to 48,432.10, the Small-Cap rises 0.4 percent to 28,071.55, while Italy Growth picks up 0.3 percent to 7,873.54.

London's FTSE 100 is in the green by 1.1%, Paris' CAC 40 is up 0.9%, as is Frankfurt's DAX 40.

Back in Milan, Stellantis continues to lead the highest-capitalization list in Piazza Affari, picking up 4.8 percent.

Buzzi and Iveco Group follow, up 2.9 percent and 2.6 percent.

Campari is also up, rising 1.7 percent. The company announced Wednesday that the extraordinary shareholders' meeting approved by a large majority the appointment of Simon Hunt as executive director of the board until the general meeting to be held in 2028.

Therefore, Simon will serve as the new chief executive officer, as designated by the December 4 board meeting.

Azimut Holding--up 1.5 percent--reported Thursday that, based on initial summary data and estimated results, it expects to close the 2024 fiscal year with a net profit of about EUR600 million, placing it in the upper range of the November revised target of EUR550-600 million. Total net inflows in 2024 amount to EUR18.3 billion. Total assets stood at EUR108 billion as of Dec. 31, up 26 percent from end-2023.

Generali -- up 0.7 percent -- aims to become the top foreign insurer in Spain by 2027, overtaking Zurich, Axa and Allianz, as Milano Finanza writes Thursday. The goal is boosted by the integration of Liberty Seguros, acquired in 2023. Currently, Spain is the fourth largest market for Generali, with EUR2.6 billion in premiums, the newspaper adds.

Eni--up 1.0 percent--reported Thursday that Plenitude, through its subsidiary Eni New Energy US, has signed an agreement with EDP Renewables North America to acquire 49 percent of two already operational photovoltaic plants and an electricity storage facility under construction in California.

On the other side of the list, Amplifon does worst of all and gives up 1.3%.

Also hurt are Snam, in the red by 0.5 percent, Nexi and Moncler, down 0.3 percent.

Saipem closes the declines and gives up 0.2%. As Milano Finanza wrote Thursday, the Courseulles offshore wind project in Normandy is challenging, but the extra costs are manageable for the company.

However, the company's stock also fell due to difficulties in drilling for the wind farm's foundations, with risks of additional costs of hundreds of millions of euros, the newspaper added.

The EUR460 million project involves the construction of 64 turbines and is scheduled to start operation in 2026 instead of 2025. Saipem hopes the owners will cover part of the extra costs, MF continued.

According to Mediobanca, the group's overall performance is not at risk, but the project may not generate significant revenues before 2025.

On the Mid-Cap, De' Longhi--up 2.5 percent--announced Wednesday the start of a share buyback plan for a maximum amount of about EUR60.0 million, or 1.4 percent of the share capital. The program will begin on January 16 and will last up to six months.

Iren rises 2.3 percent. The company announced Thursday that it has placed its first hybrid subordinated perpetual bond issue with a nominal value of EUR500 million.

The issue received applications for subscription nearly eight times the amount offered, totaling orders of EUR4 billion. The settlement date is scheduled for January 23.

On the Small-Cap, SIT touches nearly 11 percent upside after announcing Friday that its subsidiary MeteRSit has signed a EUR20 million-plus contract with a major European energy company.

"This strategic partnership marks a milestone for MeteRSit in Europe and underscores its commitment to providing innovative and high-quality solutions to the energy sector," the statement read.

TXT e-solutions rises 1.4 percent after announcing that it has appointed Nicola Cordone as a new executive and non-independent board member.

Cordone has been with SIA for 20 years, during which time he also served as CEO, leading the company to its merger with Nexi Spa.

I Grandi Viaggi--up 3.2 percent--reported Thursday that it closed its annual accounts as of Oct. 31 with a profit of EUR3.3 million, up from EUR2.8 million in 2023. Revenue from the group's core operations was EUR62.6 million, up from EUR57.0 million in the previous year. Total revenues increased to EUR67.2 million from EUR61.2 million in 2023.

Safilo Group gains 0.6 percent. The company announced Tuesday the renewal of its global design license agreement with sportswear company Under Armour Inc for the production and distribution of eyewear collections through 2031.

The renewal of the agreement, which began in 2020, will enable the two companies to continue to offer high-quality sunglasses and prescription frames, featuring innovative design, comfort and superior performance, aimed at athletes and consumers worldwide.

Among SMEs, Fope - in the green by 2.4 percent - reported Thursday that it ended fiscal year 2024 with consolidated net revenues of EUR73.4 million, up 10 percent from EUR66.8 million in 2023.

Adventure rises 1.0%. The company announced that the board has approved a EUR2.8 million capital increase reserved for Primo Network shareholders.

Next Geosolutions Europe rises 3.0 percent after announcing Thursday the award of two contracts worth about EUR41 million with Prysmian Group -- up 2.2 percent on the Mib.

The contracts are for detailed survey services that will provide data for the design and engineering of the Eastern Green Link 1 and EGL 2 submarine power cable systems, key infrastructure projects that will improve the energy link between Scotland and England.

In Asia on Friday, the Nikkei fell 0.3 percent to 38,451.46, the Shanghai Composite rose 0.2 percent to 3,241.82 and the Hang Seng gained 0.3 percent to 19,584.06.

In New York at Thursday's close, the Dow lost 0.2 percent to 43,153.13, the Nasdaq gave up 0.9 percent to 19,338.29 and the S&P 500 closed down 0.2 percent to 5,937.34.

Among currencies, the euro changed hands at USD1.0302 against USD1.0306 on Thursday in closing European equities. By contrast, the pound is worth USD1.2203 from USD1.2242 last night.

Among commodities, Brent crude is worth USD81.45 per barrel from USD80.50 per barrel at Thursday's European stock close. Gold trades at USD2,704.53 an ounce from USD2,680.37 an ounce Thursday evening.

Friday afternoon's macroeconomic calendar from the U.S. includes data on the construction sector at 1430 CET, followed at 1515 CET by industrial and manufacturing production.

At 1900 CET, however, the Baker Hughes report will be released, while at 2130 CET, as usual on Friday, it will be the turn of the COT Report.

By Chiara Bruschi, Alliance News reporter

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