(Alliance News) - European stock markets are posting modest losses on Friday, as investors remain cautious amid ongoing trade negotiations between U.S. President Trump and Chinese President Xi. The two leaders spoke by phone yesterday and agreed to resume talks, but the lack of concrete progress has kept markets on edge.
Meanwhile, traders are also awaiting the latest U.S. jobs report. In Europe, the ECB cut interest rates as expected on Thursday, but President Lagarde signaled that the rate-cutting cycle may now be over.
As a result, the FTSE Mib is down 0.2% at 40,296.73.
Among the secondary indices, the Mid-Cap is slipping 0.1% to 58,874.64, the Small-Cap is down 0.2% at 31,543.65, while the Italy Growth index is up 0.2% to 8,095.41 points.
Across Europe, London's FTSE 100 is up 0.1%, Frankfurt's DAX 40 is down 0.2%, and Paris' CAC 40 is off by 0.1%.
In Milan, on the main blue-chip board, Nexi is up 0.9% at EUR5.32 per share after two bearish sessions.
Recordati is gaining 1.6% at EUR53.80 per share. Notably, JP Morgan has raised its target price for the stock to EUR67.00 from EUR65.00.
UniCredit--down 0.4%--announced Thursday it has extended its onemarkets fund range to Slovenia, further expanding its tailored investment offering across Central and Eastern Europe.
Amplifon, on the other hand, is down 0.6% after a flat session yesterday.
On the Mid-Cap segment, Acea is off to a good start, up 0.7% after a 0.9% loss in the previous session.
ERG is also up 0.5%, following a 1.1% drop the day before.
Banca Generali--down 0.4%--reported Thursday that it achieved net inflows of EUR609 million in May, bringing its year-to-date total to EUR2.7 billion. Inflows into Assets under Investment rose by EUR460 million for the month--a 66% annual increase--for a year-to-date total of EUR1.13 billion.
Among the numerous decliners, Technoprobe is trailing, down 0.3% at the bottom of the list.
On the Small-Cap, SIT is up 4.4% after a 3.5% gain on Thursday.
EPH is also up 4.4% at EUR0.12 per share, following a double-digit rally--over 14%--yesterday.
Eems Italia--up 2.2%--announced Thursday that it finalized, at the start of June, further settlements of commercial debt positions through settlement agreements, reducing the original EUR99,000 to EUR77,000, of which EUR72,000 has already been paid, generating a gain of approximately EUR22,000.
At the rear, Trevi Finanziaria Industriale is down 3.0%, extending its two-day losing streak.
Among SMEs, Datrix got off to a strong start, up 2.0%, with the company increasing its market capitalization by about a quarter since the start of 2025.
Execus--which has yet to trade--announced the subscription of 750,000 new ordinary shares from the reserved capital increase approved at the end of May, for a total value of EUR960,000, representing 96% of the maximum amount of EUR1 million.
Matica Fintec--also yet to trade--announced Wednesday it has signed a binding agreement with Matica Technologies Group for a reverse take-over, involving the transfer of 100% of U.S.-based Matica Corp and 54.55% of South Korea's DISK.
In New York last night, the Dow closed down 0.3%, the Nasdaq slipped 0.8%, and the S&P 500 fell 0.5%.
In Asia, the Nikkei rose 0.5%, the Shanghai Composite closed just above flat, and the Hang Seng is down 0.3%.
In currency markets, the euro is trading at USD1.1426 from USD1.1456 on Thursday evening, while the pound is at USD1.3546 from USD1.3594 last night.
Among commodities, Brent crude is trading at USD65.95 a barrel from USD65.58 last night, while gold is valued at USD3,360.72 an ounce, down from USD3,395.40 an ounce yesterday evening.
Friday's macroeconomic calendar features a speech by ECB President Christine Lagarde at 10:30 CEST, while at 11:00 CEST, Eurozone GDP, retail sales, and the employment overview will be released.
Across the Atlantic, at 14:30 CEST, the U.S. unemployment rate is due out.
No significant announcements are expected today from companies listed on Piazza Affari.
By Maurizio Carta, Alliance News reporter
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