(Alliance News) - European stocks are sailing in a bullish trend in the last session of the month, with trading rooms assessing a series of inflation data from the Eurozone. The latest CPI report showed that inflation in the single currency are slowed more than expected to 4.3 percent in September, marking the lowest rate since October 2021. In contrast, the core inflation rate marked its lowest in more than a year at 4.5 percent.
On the domestic front, according to preliminary estimates released by Istat on Friday, the national consumer price index rose 0.2 percent month-on-month and 5.3 percent year-on-year in September, up from 5.4 percent in the previous month and in line with estimates.
The slight deceleration in the inflation rate is mainly due to the trend-based slowdown in prices of unprocessed food, from 9.2 percent to 7.7 percent, processed food--from 10.0 percent to 9.1 percent--and durable goods, with 4.6 percent to 4.0 percent.
These data indicated that the easing of inflationary pressures is nevertheless beginning to materialize, albeit well above the ECB's 2 percent target.
In Piazza Affari, the FTSE Mib marks a 0.4 percent rise to 28,405.49 points.
In Europe, London's FTSE 100 advances 0.8 percent, Paris' CAC 40 advances 0.9 percent, and Frankfurt's DAX 40 advances 0.7 percent.
Among the smaller lists, the Mid-Cap is up 2.0 percent to 39,963.07, the Small-Cap is up 0.8 percent to 25,700.13, and Italy Growth is in the green 0.2 percent to 8,277.63.
On the main list in Piazza Affari, DiaSorin remains bullish, posting a plus 3.0% at EUR87.08 per share. The stock rears its head again after six sessions among the bearish.
Terna, on the other hand, marks a plus 2.5% by pricing itself at EUR7.21. Citigroup reinitiates coverage with 'neutral' title and target price at EUR7.50 per share.
Also advancing well is Moncler, appreciating 2.0% to EUR55.62 per share.
On a negative note, the list's minority, Tenaris gives up 1.2%, veering down after four sessions among the bullish.
Banca Generali, on the other hand, gives up 0.3%, with new price at EUR33.54 per share after eve's gain of 0.4%.
On the cadet segment, Brunello Cucinelli marks a plus 7.8% at EUR74.45 per share. Goldman Sachs gives the stock a 'buy' rating with a target price at EUR87.00.
Still doing better is Ariston Holding, which moves ahead 3.4 percent to EUR6.33 per share after a 1.3 percent gain in the previous session.
Salvatore Ferragamo, meanwhile, advances 3.2 percent to EUR12.75 per share. Société générale cut its target price to EUR9.00 from EUR10.00 per share.
Banca Popolare di Sondrio, on the other hand, gives up 0.8% to EUR4.93 per share. It is worth noting that the stock shows an asset of more than 30 percent since the beginning of 2023.
On the Small-Cap, Softlab advances with 4.7 percent to EUR1.6750 after 3.6 percent on the eve.
Trevi Finanziaria Industriale advances 5.6%, rebounding after six bearish sessions. The company on Thursday said it had approved the group's interim report, which closed with net income for the first half of the year of EUR23.6 million, compared with a net loss of EUR19.8 million in the first half of 2022. Revenues were EUR280.3 million compared to EUR236.1 million in the corresponding period of 2022.
Conafi's board of directors -- up 0.7 percent -- approved the half-year report as of June 30, closing the period with a negative EBITDA of EUR1.9 million, from the negative EUR1.0 million as of June 30, 2022. Revenues were EUR1.6 million, from EUR2.0 million as of June 30, while the result of financial assets measured at fair value was positive EUR700.00 compared to a negative impact of EUR3.8 million in the first half of 2022.
Among SMEs, Deodato.Gallery steps back more than 11 percent, repositioning its price in the EUR0.41 per share area.
Pharmacosmo retreats 5.8 percent. The company on Thursday evening reported that its board of directors approved the half-year financial report as of June 30, which closed with a consolidated operating loss of EUR2.1 million, compared to a net loss of EUR286,000 as of June 30, 2022. Consolidated sales revenues stood at about EUR36.7 million, showing 14 percent growth from about EUR32.1 million in the same period last year.
Elsa Solutions, on the other hand, advances more than 17 percent before going into volatility auction with price at EUR3.92.
Good purchases also on Imprendiroma, which appreciates 8.6 percent, rebounding after two sessions among the bearish and with new price at EUR4.06.
In New York last night, the Dow picked up 0.4 percent, the Nasdaq 0.8 percent, and the S&P 500 gained 0.6 percent.
Among currencies, the euro changed hands at USD1.0610 against USD1.0564 on Thursday's European stock close while the pound was worth USD1.2256 from USD1.2201 on Thursday evening.
Among commodities, Brent crude is worth USD93.31 per barrel versus USD96.09 per barrel at Thursday's close. Gold, meanwhile, trades at USD1,872.70 an ounce from USD1,868.47 an ounce on Thursday evening.
Thursday's macro calendar from the US includes trade balance and PCE data at 1430 CEST.
By Maurizio Carta, Alliance News reporter
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