(Alliance News) – On Friday morning, in line with futures indications, the main European indices opened lower. The Italian stock market started trading below 39,800, while the sharpest declines were seen in Paris and Frankfurt.
On Thursday, markets welcomed US employment data, which showed higher-than-expected job growth and a drop in the unemployment rate from 4.2% to 4.1%, easing fears of an economic slowdown.
In this context, during the night in Europe, President Donald Trump scored an important political victory with the approval of his tax and public spending bill, strengthening his program for his second term and increasing funding for his immigration strategy.
Trump also announced that starting Friday, he will begin sending letters to trading partners to communicate the tariffs planned by the US, while talks to avert new tariffs enter their final phase.
As a result, the FTSE Mib is down 0.4% to 38,797.78, the Mid-Cap is down 0.6% to 53,963.78, the Small-Cap is up fractionally to 32,064.12, while the Italy Growth is up 0.1% to 8,234.00.
The FTSE 100 in London is down 0.3%, the CAC 40 in Paris is down 0.7%, while the DAX 40 in Frankfurt is up 0.5%.
On the macroeconomic front, new orders in the German manufacturing industry fell by 1.4% in May compared with 1.6% growth in April, adjusted for seasonal and calendar effects, according to preliminary data from the Federal Statistical Office Destatis published on Friday.
Japan saw a recovery in household spending in May, according to official data released on Friday.
Returning to Milan, only 11 stocks are in positive territory on the main index of the Italian stock exchange. Telecom Italia and Amplifon are leading the way, both up 0.9%.
It is worth noting that Barclays has raised its target price for TIM to EUR0.44 from EUR0.42, with its rating confirmed as ‘overweight’.
Banca Popolare di Sondrio stood out, supported by purchases after BPER Banca announced an increase in the consideration under the voluntary public exchange offer, adding a cash component of EUR 1.00 for each share tendered.
PopSondrio gained 0.8%, while BPER fell 1.9%.
UniCredit was weak, down 0.6% after two positive sessions. The golden power issue remains central to the takeover bid launched on Banco BPM. Piazza Gae Aulenti has challenged the government decree before the Lazio Regional Administrative Court, waiving its request for a suspension to speed up the ruling on the merits, expected on July 9. The European Commission’s ruling is expected after July 10. Banco BPM lost 0.3%.
STMicroelectronics interrupted its positive run of the last two sessions and lost 1.1%, settling at EUR27.14.
Among the worst performers, Stellantis and Brunello Cucinelli both fell 1.3%.
In the mid-cap segment, few stocks are in positive territory. MAIRE opens up 0.4%, with similar gains for NewPrinces and Alerion.
Fincantieri lost 0.3% after announcing the delivery of the first of two MPCS/PPA class ships for the Indonesian Navy.
OVS opened down 1.2% following news of the completion of the acquisition of 100% of Goldenpoint, with the purchase of the remaining 97% of the share capital from Gilfin.
Technogym fell 0.3% after announcing that its board of directors had approved the implementation regulations for the performance share plan with a horizon of 2027, in implementation of the shareholders’ meeting resolution of May 7.
At the bottom of the list, Sanlorenzo fell 2.3%.
On the Small-Cap market, Digital Value is among the gainers, rising 1.1% for the third consecutive session in positive territory.
On the other side of the index, Landri Renzo lost 3.3%, awaiting the release of its financial results later today.
Among the stocks affected by the banking crisis, illimity Bank gained 0.7%.
Among the SMEs listed in Milan, Lemon Sistemi consolidated the rally that began last week, following Friday’s announcement of the signing of a preliminary agreement with Alfa Graniti, a Sicilian company operating in the stone sector, for the construction of a fixed ground-mounted photovoltaic plant for the production of solar energy. The stock opened up 5.5%, bringing its total gain for the week to 30%.
Among the stocks with the highest market capitalization, SolidWorld Group advanced 2.5%, confirming the positive tone already seen on Thursday.
CrowdFundMe announced on Thursday that it had closed the first half of the year with EUR 18 million in funding, up 44% compared to the second half of 2024. The stock remained unchanged at EUR 1.27.
On the opposite side, Directa SIM and Racing Force both fell 1.4%, while Compagnia dei Caraibi recorded a 3.3% decline in early trading.
In New York on Thursday evening, with Wall Street closing early at 7 p.m. CEST for Independence Day celebrations, the Dow rose 0.8% to 44,828.53, the Nasdaq ended up 1.0% at 20,601.10, while the S&P 500 advanced 0.8% to 6,279.35.
In Asia, the Nikkei ended up 0.1%, the Shanghai Composite closed up 0.3%, while the Hang Seng was down 0.6%.
On the currency front, the euro traded at USD 1.1770 from USD 1.1756 at Thursday’s close, while the pound traded at USD 1.3659 from USD 1.3647 yesterday evening.
Among commodities, Brent crude is trading at USD 68.70 per barrel, up from USD 68.36 at the previous close, while gold is worth USD 3,351.35 per ounce, up from USD 3,328.36 per ounce yesterday evening.
On Friday’s economic calendar, the US celebrates Independence Day, and no significant announcements are expected, with markets remaining closed.
In Europe, at 10:00 CEST, data on car registrations in the UK and the annual analysis of retail sales in Italy are expected.
The morning will close at 1100 CEST with the publication of the Eurozone producer price index.
On the Italian stock exchange, Landi Renzo is expected to report its results.
By Antonio Di Giorgio, Alliance News reporter
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