(Alliance News) - On Friday, major European stock markets open higher, buoyed by expectations that the European Central Bank has peaked rates.

On Thursday, the ECB made its 10th consecutive rate hike, up 25 basis points, but also signaled its intention to potentially halt further policy tightening as inflation began to show signs of receding.

In addition, investors welcomed solid Chinese economic data that exceeded expectations, showing substantial growth in industrial activity and retail sales.

Thus, the FTSE Mib rises with 0.3 percent to 28,961.09, the Mid-Cap is in the green by 0.4 percent to 41,288.61, the Small-Cap rises with 0.3 percent to 26,813.51 as Italy Growth at 8,681.57.

In Europe, Paris' CAC 40 opens up 1.3 percent, Frankfurt's DAX 40 is in the green by 0.9 percent and London's FTSE 100 advances with 0.8 percent.

In Piazza Affari, Moncler leads the Mib up 1.8 percent followed by Prysmian, which opens in the green by 1.7 percent. On Moncler, SocGen cut its target price to EUR69.00 from EUR78.00 with a 'buy' recommendation.

Also among the bullish, which are the majority, is the banking sector with Intesa Sanpaolo rising 1.2% as BPER Banca, while Banco BPM advances 0.8% and UniCredit 0.7%.

On the other side of the list are Mediobanca, which gives up 0.9% as does Saipem, Stellantis, which opens in the red by 0.8%, and Iveco Group, which gives up 0.4% after closing up 1.4%.

Iveco announced Wednesday that Anna Tanganelli - formerly of Iren - will assume the role of chief financial officer effective Dec. 1, succeeding Francesco Tanzi who served as CFO during Iveco Group's spin-off and its first year and a half as an independent company.

On the Mid-Cap, the top spot is Cembre, which on Tuesday reported a half-year profit of EUR23.9 million, up 31 percent from EUR18.2 million in the same period last year.

SogGen cut the targe price of Tod's -- which gives up 0.2 percent -- to EUR42.00 from EUR46.00 with a 'hold' recommendation.

Movements also on Salvatore Ferragamo, which opens up 1.0%. On the stock SocGen cut its target price to EUR10.00 from EUR11.00 with 'sell' recommendation.

Webuild - in the green by 0.1 percent - on Thursday reported growth in Australia, the group's first non-domestic market, with EUR7.3 billion worth of orders won and being finalized in the country in the first eight months of 2023, bringing the group's work portfolio in Australia to EUR13.3 billion.

On this basis, Webuild reaches EUR21 billion worth of orders acquired and being finalized in the first eight months of 2023, pushing the group's work portfolio to a potential of more than EUR68 billion.

Sesa opens up 1.1 percent. It reported Thursday that in the first quarter ended July 31 it reported adjusted group net income of EUR26.5 million from EUR23.8 million in the same period last year.

On the Small-Cap, Gequity takes the top spot with a 9.9 percent rise after letting it know that the board of directors approved the consolidated half-year financial report as of June 30 reporting a loss for the period of EUR1.1 million which compares to EUR826,000 as of June 30, 2022. The company also points out that Ubilot Srl has issued in favor of Gequity an additional letter of commitment to provide financial support to the company itself up to a maximum amount of EUR900,000.00 for the purpose of business continuity.

Bialetti Industrie drops 2.4 percent after announcing Thursday evening that it made a loss of EUR3.1 million in the first half of the year, worsening from the negative result of EUR2.0 million recorded in the first half of 2022. The increase in the loss, the company specified in a note, was mainly due to the increase in financial expenses related to the rise in interest rates.

I Grandi Viaggi rises with 1.2 percent thanks to a quarterly loss of EUR2.0 million, an improvement from the negative net result of EUR5.1 million in the same period last year. Revenues as of July 31 rose to EUR32.2 million from EUR24.4 million in Q3 2022.

Orsero rises 1.3 percent after reporting that it reported adjusted net income of EUR33.4 million in the first half of the year, up 57& from EUR32.4 million reported in the same period of 2022.

Among SMEs, ISCC Fintech opens in the red by 4.9 percent after announcing Thursday that the board of directors approved the half-year financial report reporting a loss of EUR1.4 million, which compares with a negative EUR839,537 in the first half of 2022. Revenues amounted to EUR1.4 million, up from EUR1.1 million in the same period last year.

Italian Wine Brands opens up 3.3 percent thanks to a good half-year that reported sales revenues of EUR196.8 million, up from EUR177.3 million in the same period last year. Profit amounted to EUR4.6 million, up from EUR3.9 million in the first half of 2022.

Softec still does not trade. The company reported Thursday night a loss of EUR115,000 in the first half of the year, which compares with a loss of EUR510,000 in the first half of 2022. Revenues amounted to EUR2.6 million in line with the first half of 2022.

In Asia, the Nikkei closed in the green by 1.1 percent, the Shanghai Composite ended in the red by 0.3 percent, and the Hang Seng climbs by 1.1 percent.

In New York on European night, the Dow Jones closed in the green by 1.0 percent, the S&P up 0.8 percent while the Nasdaq finished up with 0.8 percent.

Among currencies, the euro changed hands at USD1.0657 versus USD1.0661 on Thursday in European equities closing, while the pound was worth USD1.2423 from USD1.2410 on Thursday evening.

Among commodities, Brent crude is worth USD94.18 per barrel versus USD92.42 per barrel at Thursday's close. Gold, on the other hand, trades at USD1,917.95 an ounce from USD1,906.82 an ounce Thursday evening.

On Friday's economic calendar, from Italy, the inflation figure is expected at 1000 CEST and the trade balance at 1100 CEST.

The Eurozone trade balance and labor cost index will also come out at 1100 CEST.

In the afternoon, in the U.S. at 1430 CEST the import and export price indexes will come out and at 1515 CEST the industrial and manufacturing production data. At 1600 CEST the Michigan Confidence Index and the Michigan 5-year inflation forecast will follow.

At Piazza Affari, the half-yearly reports of Beewize, BF and Fidia are scheduled.

By Chiara Bruschi, Alliance News reporter

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