(Alliance News) - The Mib is advancing above the 34,600-point mark Friday, in line with other European exchanges, reaching a new five-week high.

Among the economic data, Istat estimated Italy's seasonally adjusted industrial production in March to decline on an annual and monthly basis. Even averaged over the past three months, the figure shows a decline when compared with the previous three months, Istat explained in a preliminary estimate released Friday.

In detail, the Italian Statistical Institute estimates that the industrial production index will fall by 0.5 percent, against FxStreet's expectations of 0.3 percent growth instead and worse than February's flat reading, which was revised downward from the 0.1 percent growth originally announced.

The FTSE Mib, thus, advances 0.7 percent to 34,691.72 points.

In Europe, London's FTSE 100 is advancing 0.8 percent as well as Paris' CAC 40 is advancing 0.4 percent, while Frankfurt's DAX 40 is posting a green of 0.8 percent.

Mid-Cap is down 0.8 percent to 46,637.32, Small-Cap is up 0.4 percent to 29,610.03, and Italy Growth is up slightly to 8,249.53.

Among the headlines, Iveco's board -- up 6.7 percent -- on Friday reported that it ended the first quarter of 2024 with an adjusted net profit of EUR153 million, up EUR77 million from the first quarter of 2023. This figure excludes the EUR115 million pre- and post-tax loss from the signing of the definitive agreement to transfer ownership of the Fire Fighting business.

Strength also on Enel, which opened up 2.5 percent. It reported Thursday that it ended the first quarter of the year with group net income of EUR1.93 billion from EUR1.03 billion and up 87 percent from March 31, 2023. Revenues in the period stood at EUR19.43 billion from EUR26.41 billion in Q1 2023, marking a 26 percent decline.

Leonardo advances 3.7% to EUR22.95. It is reported that UBS raised the price to EUR30.00 from EUR16.60.

The board of directors of Unipol Gruppo--up 0.3%--meeting Thursday approved the consolidated results as of March 31, reporting a consolidated net income of EUR363 million, including the contribution of investees BPSO and BPER. Excluding the economic contribution of the banking holdings, the group ended the first quarter of 2024 with a consolidated net profit of EUR242 million, a 7.0 percent improvement over the first quarter 2023 result of EUR226 million.

Among the bearish few, Ferrari is marking minus 1.1%, on its fifth bearish candle.

Brunello Cucinelli, on the other hand, is marking minus 0.6% at EUR95.50 per share.

On the Mid-Cap, Piaggio is advancing well, marking plus 2.7 percent. The board of directors reviewed and approved the quarterly financial report as of March 31, closing the period with a net profit of EUR18.7 million compared to EUR24.1 million in the same period last year. The group's consolidated net revenues were EUR428 million from EUR543.9 million as of March 31, 2023.

Salvatore Ferragamo - in the green by 0.8 percent - reported Thursday that it ended the first quarter with revenues of EUR227 million, down 18 percent at current exchange rates and 17 percent at constant exchange rates from the first quarter of 2023.

Carel Industries -- in the green by 4.9 percent -- reported Thursday that consolidated revenues amounted to EUR146.4 million compared to EUR161.0 million as of March 31, 2023, down 9.0 percent. Excluding the change in scope of consolidation related to Kiona and Eurotec of EUR7.3 million and the marginal negative exchange rate effect, the decline would have been 13%.

Brembo -- down 2.8 percent -- reported Thursday that it ended the first quarter with revenues of EUR1.00 billion, up 4.4 percent from EUR961.9 million in the same period a year earlier. Net income fell slightly, to EUR75.2 million from EUR76.8 million.

Banca Ifis also retreated, contracting 2.5 percent to EUR20.14 after 4.1 percent in the red on the eve.

On the SmallCap, doValue -- in the green by 3.2 percent -- on Friday announced that its subsidiary, doValue Greece Loan and Credit Claim Management Company S.A. has signed two new servicing agreements in Greece. These agreements represent a total of about EUR1.0 billion GBV for doValue Greece.

Aquafil, on the other hand, advances 6.5 percent as it awaits accounts due out on Tuesday.

Banca Profilo's board of directors -- down 1.4 percent -- approved its interim report as of March 31, 2024, closing with a net profit of EUR2.8 million, down 55 percent from the first three months of last year. Total customer deposits, including net trust deposits, stood at EUR6.1 billion, up from EUR5.8 billion as of March 31, 2023.

At the back of the pack is Aedes, which posted a minus 4.9 percent, following a 4.1 percent red note on the eve of the event.

Among the SMBs, Impianti advances well, moving ahead 17 percent before going into volatility auction, on its third session with significant strength on the buy side.

Clabo, meanwhile, advances 4.4 percent, following up the 1.8 percent green in the previous session.

DBA Group advances 6.9 percent, following on the heels of the 5.0 percent green of the eve by updating a new 52-week high at EUR2.48 per share.

At the tail end, Alfio Bardolla is depreciating 5.4%, following the previous session's 5.8% green.

In New York, the Dow rallied 0.9 percent, the Nasdaq gained 0.3 percent, and the S&P 500 closed up 0.5 percent.

Among Asian exchanges, the Hang Seng finished in the green by 2.1 percent, the Nikkei picked up 0.3 percent, and the Shanghai Composite gained 0.1 percent.

Among currencies, the euro changed hands at USD1.0782 from USD1.0776 in Thursday's European stock close while the pound was worth USD1.2532 from USD1.2514 last night.

Among commodities, Brent crude is trading at USD84.32 per barrel from USD84.33 per barrel on Thursday. Gold, on the other hand, trades at USD2,366 an ounce from USD2,312.69 an ounce on Thursday evening.

On Friday's macroeconomic calendar from the U.S., focus on Michigan consumer confidence, due at 1600 CEST, and Baker Hughes data on mining rigs in the U.S.

By Maurizio Carta, Alliance News reporter

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