(Alliance News) - On Friday, major European stock markets closed in positive territory on the last day of intense releases on the macro front before the Christmas break.
The U.S. personal consumption expenditures price index unexpectedly fell 0.1 percent month-on-month in November, below October's flat reading and compared with forecasts of no growth.
The data were released Thursday by the U.S. Bureau of Economic Analysis. This is the first decline in PCE prices since July 2022.
In addition, the annual rate cooled to 2.6 percent, the lowest since February 2021, from 3.0 percent in October and below forecasts of 2.8 percent.
Thus, the FTSE Mib closed up 0.3 percent at 30,353.29, the Mid-Cap gained 0.3 percent to 44,464.04, the Small-Cap rose 0.5 percent to 27,928.46, and Italy Growth gained 0.4 percent to 8,120.06.
In Europe, London's FTSE 100 closed slightly higher, Paris' CAC 40 finished just below par and Frankfurt's DAX 40 rose 0.1 percent.
On the Mib, Pirelli closed up 0.2 percent after announcing on Friday that it had signed an agreement with a selected pool of international banks for a EUR500 million committed revolving credit facility with a maturity of four years, i.e., December 2027.
A2A--down 0.2 percent--reported on Friday that the European Investment Bank has granted it a EUR200 million loan, in line with REPowerEU, to encourage the electrification of consumption and the use of energy from renewable sources, benefiting the country's decarbonization.
Among the objectives of the financing for A2A are the extension and modernization of electricity distribution infrastructure in Lombardy to help achieve national and European decarbonization targets through electrification of consumption, the company explained in a note.
Also among the bullish performers is Eni, up 0.6 percent after it announced Thursday that Plenitude has strengthened its commitment to the energy transition through the entry of Energy Infrastructure Partners, a fund specializing in Renewables and Energy Transition, as a minority shareholder.
EIP joins Plenitude by acquiring a stake of up to 9 percent, through subscription to a capital increase, for a total amount of up to EUR700 million, which values Plenitude's post-entry equity at around EUR8 billion. Taking debt into account, Plenitude's Enterprise Value resulting from the transaction is more than EUR10 billion.
ERG--declining 0.1 percent--announced Thursday the signing of a major agreement with Apex Clean Energy Holdings, a leading independent U.S. clean energy developer, to create a strategic partnership with a mission to manage a portfolio of wind and solar plants already in operation and potentially develop it.
The consideration for the acquisition of the 75% majority stake is USD270 million.
On the Mid-Cap, Fincantieri -- down 0.4 percent -- reported Thursday that Vard, the company's Norwegian subsidiary, has signed a contract to design and build a cable-laying ship for Prysmian Spa.
The value of the contract is EUR320 million.
Arnoldo Mondadori Editore--up 1.9 percent--reported Thursday that it had signed an agreement to sell its entire 50 percent stake in Mediamond to Publitalia '80.
The stake is held by the subsidiary Direct Channel, and as a result of the transaction, Publitalia '80 will increase to 100 percent in Mediamond. Mondadori is to receive EUR1.4 million.
Juventus Football Club -- down 2.1 percent -- announced Thursday evening that it had appointed Citigroup and UniCredit as joint global coordinators as part of the capital increase under option up to a maximum of EUR200 million.
In addition, it informed that majority shareholder Exor, "as a further demonstration of its long-term commitment to the company and confidence in its intrinsic value," as specified in the statement, has committed to underwrite any newly issued shares that remain unsubscribed at the end of the offering period.
On the Small-Cap, Biesse closed up 2.2 percent after signing on Thursday a contract to acquire the entire share capital of GMM Finance, the holding company at the head of the GMM Group, which also includes GMM, Bavelloni and Techni Waterjet, as well as their respective Italian and foreign subsidiaries, active in the sectors of machine tools for processing stone, glass and other materials.
The provisional consideration for the acquisition, which will be settled in full in cash at closing, amounted to approximately EUR72 million,
IRCE--in the red by 0.3 percent--reported Thursday that the board has approved the EUR45 million investment project in the Czech Republic.
The investment is aimed at strengthening the group's position in the European winding conductor market, with a focus on the electric vehicle market.
PLC is up 4.0 percent. The company reported Thursday that as of Nov. 30 it had reported a backlog of EUR112 million and a commercial pipeline of EUR127 million. In addition, the company reports development projects of about 130MW of wind technology plants and about 50MW of photovoltaic technology plants under development, with about 160MW of connection solutions already obtained.
Among SMEs, Mondo TV France -- up de 6.7 percent -- on Friday announced the closing of another agreement with Euro Publishing. The contract, which runs for three years until Dec. 31, 2026, calls for a product launch by fall 2024.
The contract includes payment of a guaranteed minimum and royalties for the excess.
Gismondi 1754--up 5.0 percent--announced Friday the opening of a new franchise outlet in "The Pearl Island" in Doha, Qatar.
The Pearl is an artificial island dubbed the "Arab Riviera."
Grifal gained 2.2 percent. On Thursday, it announced that it had signed agreements to issue and subscribe for 60 bonds with a nominal value of EUR100,000.00 each, to be issued as part of a non-convertible, non-subordinated bond issue with a total principal amount of EUR6 million.
Saccheria F.lli Franceschetti lost 0.8 percent after announcing Thursday that the shareholders' meeting approved the distribution of an extraordinary dividend of EUR0.043 per share and the authorization of a new buyback plan.
The maximum number of shares purchased will not exceed a total of 177,010 ordinary shares with a maximum value of EUR400,000.
Cloudia Research closed the first day of trading up 50 percent. The company made its debut on the stock exchange after raising EUR3.5 million.
If the over-allotment option is fully exercised, the total amount will be about EUR4 million.
In New York, the Dow is up 0.1 percent to 37,453.13, the Nasdaq rises 0.3 percent to 15,011.44, and the S&P 500 gains 0.3 percent to 4,762.14.
Among currencies, the euro changes hands at USD1.1021 against USD1.0991 recorded at Thursday's European stock close while the pound is worth USD1.2726 from USD1.2660 on Thursday evening.
Brent crude is worth USD80.18 per barrel versus USD79.14 per barrel at Thursday's close. Gold, meanwhile, trades at USD2,060.52 an ounce from USD2,039.32 an ounce on Thursday evening.
The macroeconomic calendar for Wednesday, Dec. 27, opens at 0050 CET with the Bank of Japan's opinion summary.
At 0230 CET, Chinese industrial profits for the past 12 months are due. Back in Japan, at 0600 CET, construction orders and new residential construction sites are expected.
In Switzerland, at 1000 CET, ZEW expectations will be released.
On the bond front, at 1500 CET, French three-, six- and 12-month BTF auctions are published in France. From the US, at 1900 CET, it is the turn of five-year Treasury bond auctions while, at 2230 CET, weekly oil stocks will be published.
Among companies listed on the Milan Stock Exchange, no particular announcements are expected.
By Claudia Cavaliere, Alliance News reporter
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