(Alliance News) - On Friday, the main European stock markets closed in negative territory on a busy day on the macroeconomic front, while European and US stock indices rose in the last session of November, driven by hopes of a rate cut by the Federal Reserve and the price of silver reaching a record high.

"US stocks are extending this week's rally in a post-Thanksgiving trading session characterized by reduced volumes and shortened duration. In Europe, sentiment also remained positive despite an unexpected decline in German retail sales, with indices closing the week in positive territory," explained Axel Rudolph, senior technical analyst at IG.

On the commodities front, "silver is extending its rally, approaching its all-time high of USD55 per ounce, amid growing supply concerns and expectations of further rate cuts by the Federal Reserve. While the price of gold has reached a two-week high and is on track for a fourth consecutive month of gains, the price of oil is heading for a fourth consecutive month of losses, the longest streak in over two years, under pressure from concerns about oversupply."

Thus, the FTSE Mib closed up 0.3% at 43,357.01, the Mid-Cap fell 0.4% to 58,524.31, the Small-Cap lost 0.6% to 35,832.54, and Italy Growth recorded a gain of 0.9% to 8,438.98.

In Europe, London's FTSE 100 closed up 0.3% at 9,720.51, Paris' CAC 40 rose 0.2% to 8,117.55, and Frankfurt's DAX gained 0.3% to 23,828.25.

On the Mib, Stellantis performed best, up 2.0%. "The French carmaker is undergoing a major restructuring, focusing on the US and leveraging its alliance with China's Leapmotor, with Italy increasingly destined for the production of small cars," writes Alliance News columnist Francesco Bonazzi.

"The White House's diktat on the return of industrial production destined for the US from Mexico and Canada has mainly affected the automotive sector. Stellantis has decided to bring the production of brands such as Jeep back to the US, but the Canadian government is threatening legal action."

Brunello Cucinelli closed up 1.8%. JPMorgan raised its target price to EUR130.00 from EUR125.00 with an 'overweight' rating.

Moncler closed the podium, up 1.6%. Leonardo also rose, up 1.6%. On Thursday, the company presented Michelangelo Dome, the new advanced integrated defense system designed by Leonardo to respond to emerging threats in an increasingly complex global scenario.

Eni rose 1.3%. Through its subsidiary Azule Energy, a 50-50 joint venture with bp and operator of the New Gas Consortium, the company inaugurated the NGC gas processing plant in Soyo, northern Angola, on Thursday.

Among the bearish stocks, Banca Monte dei Paschi di Siena fell 2.1% to the bottom of the table. On Thursday, the company announced that it had received notification from the Milan Public Prosecutor's Office of a search warrant.

The company wrote in a statement that Luigi Lovaglio had been served with a notice of investigation in his capacity as CEO and that the alleged offences referred to in the document relate to obstruction of supervisory functions and market manipulation.

Telecom Italia and Buzzi also fell, down 1.8% and 1.1% respectively.

Among mid-caps, Fincantieri - down 1.5% - announced on Friday that, through its Underwater Technology Center, it will supply the Navy with a supply vessel designed to ensure maximum versatility of use, including underwater operations.

Ascopiave is down 0.8%. On Wednesday, the company announced that it had signed a preliminary purchase agreement for the acquisition of 100% of the share capital of Società Impianti Metano, a company active in the gas distribution sector, wholly owned by Sime Partecipazioni.

The agreed base price for the transaction is EUR 46 million, which reflects the valuation of the company as of December 31, 2024, and is subject to adjustment after closing, as is customary. The deal is subject to the condition precedent of the successful completion of the Golden Power procedure.

The new international expansion for MFE-MediaForEurope, after entering the German ProSiebenSat.1, has led to its arrival in Portugal with the acquisition of 32.9% of Impresa SGPS, a group controlled by the Balsemão family. MFE A shares fell 0.61%, while B shares rose 0.5%.

On the Small-Cap index, Borgosesia rose 1.4% after announcing on Friday the issue of a new structured bond for a maximum amount of EUR 50 million.

Brioschi Sviluppo Immobiliare - down 0.3% - announced on Wednesday that its subsidiary Milanofiori Sviluppo had accepted the sale proposals received from a number of professional institutional investors for all 73,769 shares still held in the Fleurs Fund.

This is a closed-end Italian real estate investment fund - FIA immobiliare riservato - which in August 2022 purchased buildings U1 and U3 from Milanofiori Sviluppo. The total price of the sales is EUR13.1 million.

Among SMEs, Reway Group rose 2.4% after announcing on Friday that it had closed the nine months with a year-on-year increase in production value to EUR 201.2 million from EUR 145.2 million.

Mare Group fell 0.5%. The company will not proceed with the delisting of Eles Semiconductor Equipment after the conclusion of the takeover bid. Eles shares closed up 0.4%.

Lindbergh fell 1.0%. On Thursday, the company announced that it had completed the acquisition of Alpiclima di Giuseppe Camaglio & C.

The transaction, carried out through its subsidiary SMIT, relates to the purchase of 100% of Alpiclima di Giuseppe Camaglio & C.

In addition to the EUR 200,000 already paid upon signing the preliminary agreement, a cash payment of EUR 1.1 million was made.

Ubaldi Costruzioni closed flat at EUR4.30 per share. On Thursday, the company announced that its backlog as of September 30 was EUR182.4 million.

The order book consists of 56 active contracts located mainly in central Italy.

In New York, with US stock markets closing early for the Thanksgiving long weekend, the Dow is up 0.6% at 47,718.84, the Nasdaq is up 0.5% at 23,320.19, and the S&P 500 is up 0.4% at 6,842.95.

On the currency front, the euro is trading at USD 1.1597 from USD 1.1600 at Thursday's stock market close, while the pound is trading at USD 1.3248 from USD 1.3247 last night.

Among commodities, Brent crude is trading at USD 63.00 per barrel, down from USD 63.28 per barrel at Thursday's close, while gold is trading at USD 4,240.90 per ounce, up from USD 4,154.60 per ounce last night.

Monday's calendar includes the release of PMI data for the manufacturing sector in Spain, France, Germany, Italy, the Eurozone, and the UK from 0915 CET to 1030 CET.

The same data is expected at 1545 CET in the US. At 1600 CET, it is the turn of the ISM index for the US manufacturing sector.

No particular announcements are expected from companies listed on the Italian stock exchange.

By Claudia Cavaliere, Alliance News reporter

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