(Alliance News) - Major financial markets in Europe opened lower on Friday as investors continue to assess the global economic outlook in anticipation of key monetary policy decisions from the Fed and ECB next week.

Among the economic data, China's inflation was nearly flat in May, official data from the National bureau of statistics of China showed Friday, as the country's economy falters due to weakening demand and declining exports, leading to reinforced calls for a rate cut and more government stimulus.

The consumer price index rose 0.2 percent year-on-year from 0.1 percent in April, the National Bureau of Statistics (NBS) said. The figure is in line with the expectations of analysts surveyed by Bloomberg.

On the monetary policy front, in the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate, or EFFR, the rate confirmation at the June 14 meeting has a 77 percent probability for confirmation in the 500/525 bps range. In contrast, the 25 bps rise in the 525/550 bps target is priced at 23%.

The FTSE Mib, therefore, marks a 0.2 percent red at 27,235.17, with a put/call ratio of 0.51.

Among the smaller listings, the Mid-Cap is in the red 0.3% to 42,826.30, the Small-Cap drops 0.1% to 27,310.12, while Italy Growth is picking up 0.1% to 9,185.26.

In Europe, London's FTSE 100 gives up 0.1 percent, Paris' CAC 40 gives up 0.3 percent as does Frankfurt's DAX 40.

On the Mib, Leonardo is off to a good start, posting a plus 0.9 percent at EUR10.27 per share, on the heels of eve's green with 1.7 percent.

Erg also did well, rising 0.4%, with price at EUR26.38 after two sessions in the red.

JP Morgan raised Generali's target price to EUR22.00 from EUR20.00. The stock is currently up 0.1 percent.

Banking, bearish drivers, give ground, with BPER Banca giving up 1.0%, BPM 0.9% as well as Banca Generali.

On the MidCap, Autogrill rises 1.2% to EUR6.57 per share, rearing its head again after four bearish sessions.

Calatgirone, at the back of the pack, gives up 1.5 percent after eve's gain of the same percentage.

Also in the rear ranks is Antares Vision, which marks a minus 1.5 percent with new price at EUR4.09 per share and liabilities on the weekly of 4.4 percent.

Mondadori Editore, on the other hand, gives up 1.2 percent to EUR1.9360, on the heels of the 0.7 percent upside on the eve of the event.

On the SmallCap segment, LVenture Group is giving up 2.7%, while Italian Exibition Group is marking minus 2.0%.

On a positive note, Eukedos, which is advancing 4.4% to EUR1.19 after a 0.4% loss on Thursday evening.

Also advancing is Bialetti, which is up 2.7% to EUR0.2710 and active close to 5% on the weekly.

Among SMEs, Estrima advances 6.2% to EUR1.38 per share, turning positive after two sessions ended in the red.

eVISO--up 1.8%--reported on Friday data provided by the Integrated Information System--a public body that manages information flows related to the electricity and gas markets--regarding the annual consumption volumes of the fleet of electricity users subscribed to eVISO in June. These data show a strong resumption of growth in electricity volumes handled by eVISO in terms of both direct customers and resellers.

Spindox - up 3.9 percent - on Friday reported that it is consolidating plans to develop its Bari office. Terna announced that it has renewed its EUR9.00 billion Euro Medium Term Note bond issue program as the maximum amount that can be subscribed.

Illa -- in volatility stagnation at EUR0.2520 -- on Thursday evening announced that it had entered into a deed of purchase from "Industrie & Design S.r.l. in judicial liquidation, formerly Carlo Giannini S.p.A." of the business unit of the historic Giannini brand.

In New York, the Dow closed up 0.5 percent, the Nasdaq rose 1.0 percent, and the S&P 500 advanced 0.6 percent.

In Asia, the Hang Seng is rallying 0.6 percent, the Shanghai Composite rallied 0.5 percent, while the Nikkei closed up 2.0 percent.

Among currencies, the euro changed hands at USD1.0769 against USD1.0774 on Thursday in closing European equities. In contrast, the pound is worth USD1.2544 from USD1.2543 last night.

Among commodities, Brent crude is worth USD75.90 per barrel versus USD76.31 per barrel Thursday night. Gold, on the other hand, trades at USD1,964.32 an ounce from USD1,965.67 an ounce last night.

On Friday's economic calendar, at 1000 CEST in Italy, the industrial production data is expected followed at 1100 CEST by the auction of 12-month BOTs.

At 1430 CEST some macros are expected from Canada, including the change in the level of employment.

As for Piazza Affari, results from Fenix Entertainment and Gequity are expected.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.