(Alliance News) - Major European stock markets are expected to rise on Friday on the heels of the previous session's close and after a strong performance by U.S. markets, up for the fourth consecutive day, as U.S. 10- and 30-year yields continue on a bearish course.

"After witnessing such a strong close in the U.S.," comments Michel Hewson, Chief Market Analyst at CMC Markets, "European markets look set to open higher as we look ahead to this afternoon's U.S. employment report. Prior to that, we will get the latest snapshot of the services sector PMI for the economy in the UK ahead of the third quarter GDP data due next week."

Thus, according to IG futures, the FTSE Mib is expected up 80.0 points or 0.3 percent after closing up 1.8 percent at 28,479.39.

In Europe, London's FTSE 100 is expected up 0.3 percent, Paris' CAC 40 is expected to open up 0.4 percent as is Frankfurt's DAX 40.

Among Italy's smaller lists, the Mid-Cap closed in the green 2.7 percent to 39,734.41, the Small-Cap rose 1.7 percent to 24,917.51, and Italy Growth closed up 0.4 percent to 7,694.57.

On the main list of Piazza Affari, boost on Tenaris led the bar up 8.3 percent after announcing Wednesday night results for the third quarter of the year and the first nine months, with a new buyback of up to USD1.2 billion. In addition, the board of directors approved the payment of an interim dividend. As for the third quarter, the group reported net income of USD547 million, down from USD608 million in the same period of 2022, with earnings per share of USD0.46 from USD0.51 in the third quarter of the previous year. Net sales were USD3.24 billion, up 9 percent from USD2.98 billion in the same period of 2022.

Ferrari - up 5.6 percent - reported Thursday that it ended the third quarter with strong year-over-year indicators. Adjusted net income was EUR332 million up 46 percent from EUR228 million in the same period last year. Net revenues for the third quarter amounted to EUR1.54 billion, up 24% from the same period a year earlier. Delivered cars reached 3,459 units in the third quarter, an increase of 271 units year-on-year, thanks to a very strong order backlog reflecting volumes, geographies and product allocation plans by quarter.

Good session also for STMicroeletronics, which picked up 4.4 percent closing with bullish candle for the third consecutive session.

Amplifon, on the other hand, took home 3.9 percent, with new price at EUR27.53 after a 0.5 percent decline on the eve.

Among the few bearish, Iveco closed down 1.3 percent, its third in a row as a bear.

On the Mid-Cap, Industrie de Nora picked up 10 percent, after falling 1.4 percent on eve.

Seco, on the other hand, picked up 9.4 percent. The stock traded at a high volume of more than 667,000 traded compared to a three-month daily average of about 235,000.

Lottomatica Group closed in the green by 1.6 percent after reporting Thursday that GBO Spa, a wholly owned subsidiary of Lottomatica, has signed an agreement to acquire 100 percent of the share capital of SKS365 Malta Holdings Limited. SKS365 has been valued in the context of this transaction with an Enterprise Value of EUR639 million. The transaction will be financed through a combination of available cash and additional debt, for which Lottomatica has already obtained a EUR500 million commitment in the form of a bridge debt facility.

The only bearers on the list, both down 0.4 percent, were Digital Value and illimity Bank.

On the Small-Cap, Giglio Group closed up 17 percent after announcing Wednesday that on Oct. 31 it sold the entire share capital of its wholly owned subsidiary, IBox SA, a Swiss-registered company, to FuTureScape Sagl, also a Swiss-registered company. The transaction involves the sale of shares with a total value of nearly EUR5.9 million.

Aeffe, on the other hand, closed ahead 7.8 percent, after declining 0.4 percent on the eve. The stock had previously come from three sessions with a bullish candle.

Good buying was also seen on Safilo, which posted a plus 6.2 percent, in the session prior to the earnings release.

Fidia, down 0.4 percent, informed Tuesday evening that its board of directors reviewed and updated the business plan approved in March. As far as revenues are concerned, it expects a limited reduction in revenues for fiscal year 2023 from EUR30.1 million to EUR28.9 million, "which, however, at the level of added value implies a reduction of EUR148,000 compared to the originally planned figure," the company note said.

BasicNet--in the red by 2.9 percent--reported Tuesday that the board of directors reviewed the results of the first nine months, during which revenues grew by 5.3 percent to EUR297.5 million from EUR282.6 million in the same period of 2022. Ebitda rose to EUR44.7 million from EUR44.1 million, a slight change to positive 1.3 percent.

Among SMEs, Ambromobiliare advanced 6.7 percent, on the heels of eve's 3.1 percent gain.

Datrix, on the other hand, picked up 9.5 percent, following eve's 1.2 percent red.

Ecosuntek--down 0.9%--reported Tuesday that Eco Trade Srl, a 63.40% subsidiary, had finalized the purchase of a 46.775% stake in +Energia Spa for a total of EUR23.0 million. The transaction had already been announced to the market in previous months.

NVP closed on a negative note with 0.7 percent. It reported Tuesday that it reported revenues up 57 percent year-on-year to EUR19.5 million from EUR12.4 million in the first nine months. The scope of consolidation includes subsidiaries EG Audiovisivi Srl and Produzioni Italia Srl, the latter from Sept. 14, 2023, which contributed revenues of EUR500,000, entirely realized in Italy.

Emma Villas gave up 7.6 percent with price at EUR3.01 per share, on the heels of Wednesday's 4.2 percent red.

Elsa Solutions contracted 5.4 percent, following two previous sessions closed lower.

In Asia, with Japan closed for holidays, the Hang Seng was up 2.4 percent at 17,649.50 and the Shanghai Composite finished in the green by 0.7 percent at 17,649.50.

In New York overnight Europe, the Dow rose 1.7 percent, the Nasdaq closed up 1.8 percent, and the S&P 500 rallied 1.9 percent.

Among currencies, the euro changed hands at USD1.0632 against USD1.0615 recorded at Tuesday's European stock close, while the pound was worth USD1.2211 from USD1.2176 last night.

Among commodities, Brent crude is worth USD87.00 per barrel from USD86.34 per barrel at yesterday's close. Gold, meanwhile, trades at USD1,988.89 an ounce from USD1,982.01 an ounce last night.

On Friday's macroeconomic calendar, at 1000 CET it will be the turn of Italy's unemployment rate, followed an hour later by that of the Eurozone.

At 1330 CET the US unemployment rate, at 1445 CET the services PMI and fifteen minutes later the manufacturing. At 1800 CET the Baker Hughes trivelazation plants report and at 2130 CET, as usual on Fridays, The COT Report.

On the corporate calendar, results from Anima Holding, DiaSorin, Fenix Entertainment, Intesa Sanpaolo, Riba Mundo Tecnologia, and Safilo Group are expected.

By Chiara Bruschi, Alliance News reporter

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