(Alliance News) - On Friday, major European stock markets continue to post modest mid-session gains, with various focuses on macro and politics.

The FTSE Mib is up 0.2 percent to 34,429.55, the Mid-Cap is up 0.2 percent to 48,541.33, the Small-Cap gives up 0.3 percent to 29,179.75 while Italy Growth rises 0.2 percent to 8,115.87.

In Europe, Paris' CAC 40 is up 0.5 percent to 7,666.28, London's FTSE 100 is up 0.2 percent to 8,237.18 and Frankfurt's DAX 40 rises 0.1 percent to 18,559.81.

In macroeconomic news, the annual inflation rate in France fell to 2.2 percent in June 2024, down from 2.3 percent in the previous month, but revising upward from preliminary estimates of 2.1 percent.

In addition, the annual consumer price inflation rate in Spain was confirmed at 3.4 percent in June 2024, below the more than one-year high of 3.6 percent recorded in May.

On the Mib, good session for Inwit, which picks up 2.0% and takes the top spot. Tenaris and Enel also do well, up 1.8% and 1.4% respectively.

Iveco rises 1.5%. The company announced this week that Iveco Bus, the group's city, intercity, and touring bus brand, has signed a framework agreement to supply more than 900 Crossway buses to Austria's ÖBB Postbus, the country's largest bus company and market leader in regional bus services. The framework contract has a total value of about EUR225 million.

Among the bearish performers is Brunello Cucinelli, which gives up 1.3 percent. The company ended the first half of the year with revenues up 14 percent year-on-year to EUR620.7 million from EUR543.9 million in the same period last year.

On a geographic basis, the Americas posted a 19 percent increase in revenues, Europe 9.0 percent and Asia 14 percent. By sales channel, retail was up 15 percent and wholesale was up 13 percent.

Banks also went down, with Monte dei Paschi di Siena and BPER Banca giving up 0.6% and 0.4%, respectively.

On the Mid-Cap, Fincantieri--in the red by 0.6 percent--reported that the rights offering period for the capital increase was successfully concluded.

Indeed, about 99 percent of the total number of shares offered was subscribed, for a total amount of about EUR396 million.

Webuild - in the red by 0.4 percent - has made it known that it is in pole position for a new sustainable mobility project in Melbourne: the group, part of the Terra Verde joint venture, has been selected as the highest bidder for the "Tunnels North" lot of the Suburban Rail Loop East. The final contract award is expected later this year.

LU-VE -- down 0.8 percent to EUR26.55 -- reported Thursday that first-half product sales fell 8.4 percent year-on-year to EUR292.8 million, in line with expectations. The order backlog, on the other hand, increased 9.4 percent from Dec. 31 and 1.2 percent year-on-year, to EUR170.9 million.

On the Small-Cap, Unieuro gave up 1.2 percent after it reported Friday that it closed the first quarter to May 31 with revenues of EUR533.9 million, down 7.0 percent from last year when they stood at EUR573.8 million.

For the period, adjusted EBIT amounted to EUR4.1 million, an improvement of more than 50 percent over the previous quarter and in line with expectations, while it was negative EUR8.5 million in the first quarter of the previous year.

Gefran is down 0.5 percent to EUR8.76 per azone. The company announced Thursday that, in agreement with Fingefran, the holding company that controls the group, it has signed an agreement with the current CEO, Marcello Perini, in which he pledges to keep the manager at the helm of Gefran until the approval of the 2028 budget.

In turn, Perini has agreed to continue his contribution to the leadership of the company at least until the agreed date.

PLC - unchanged at EUR1.61 per share - on Thursday disclosed that PLC System has signed two contracts related to the construction of HV/MV infrastructures for the connection to the electricity grid of two wind power plants with a capacity of 45 MWp and 80 MWp respectively located in the province of Foggia, held by the BKW Group's special purpose company, Veneta Energie. The contract has a total consideration of more than EUR11.5 million, including more than EUR9.5 million for services rendered by PLC System alone.

Among SMEs, Orsero falls 0.8 percent after announcing the conclusion of its share buyback program.

In the period between June 17 and July 11 inclusive, a total of 80,720 treasury shares were purchased, at an average price of EUR12.5349 and a total value of EUR1 million.

Thus, Orsero holds a total of 833,857 treasury shares or 4.716 percent of the share capital.

Simone -- up 0.5 percent to EUR1.92 per share -- on Thursday announced that it has applied for tax breaks under the Special Economic Zone. The company will invest EUR2.5 million for a new digital printing plant, of which EUR2.3 million will be eligible for both ZES and 4.0 tax breaks.

The board of directors of Gibus -- up 1.7 percent -- on Thursday reviewed and approved consolidated operating revenues as of June 30, a period ended with revenues of EUR47.6 million, down 6.2 percent from EUR50.7 million as of June 30, 2023. Overseas revenues amounted to EUR21.3 million and accounted for 45 percent of the total, while they were EUR22.0 million as of June 30, 2023, accounting for 43 percent of the total.

In Asia, the Nikkei closed down 2.5 percent at 41,190.68, the Shanghai Composite finished on parity at 2,971.30, and the Hang Seng gained 2.6 percent at 18,293.38.

In New York, at Thursday's close, the Dow closed up 0.1 percent at 39,753.75, the Nasdaq gave up 2.0 percent to 18,283.41 and the S&P 500 fell 0.9 percent to 5,584.54.

Among currencies, the euro changed hands at USD1.0885 from USD1.0867 on Thursday in closing European equities while the pound was worth USD1.2947 against USD1.2913 on Thursday evening.

Among commodities, Brent crude is trading at USD86.13 per barrel from USD85.53 per barrel at Thursday's close. Gold, on the other hand, trades at USD2,404.00 an ounce from USD2,418.23 an ounce on Thursday evening.

Friday's macroeconomic calendar includes, in the afternoon, from the US, at 1900 CEST the Baker Hughes data. Finally, at 2130 CEST, as usual on Friday, it will be the turn of the COT report.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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