(Alliance News) - European stock markets opened higher on Friday, with Milan equally associated in making the buy side prevail. This upward trend was driven by optimism over the possible deal to raise the U.S. debt ceiling. According to Reuters, negotiations in the United States are still ongoing, with a distance of USD70 billion, which still gives hope for a resolution of the impasse.

On the monetary policy front, in the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate or EFFR, confirmation of the rate at the June 14 meeting has a probability dropping to 60 percent for confirmation in the 500/525 bps range. In contrast, the 25 bps hike in the 525/550 bps target is priced at 40 percent.

The consumer confidence indicator in France remained stable at 83 in May 2023, the same as in April and slightly below the market forecast of 84 according to data released Friday by INSEE. Consumers are more optimistic about the outlook for living standards, expectations for personal wealth and savings intentions for the next twelve months.

Thus, the FTSE Mib, marks a decline of 0.5 percent to 26,286.35 points.

In Europe, London's FTSE 100 is given in the green by 13.50 points, Paris' CAC 40 rises 27.00 points, and Frankfurt's DAX 40 is expected up 28.00 points.

The Mid-Cap is just below par at 41,877.45, the Small-Cap is down 0.1 percent to 27,517.70, while Italy Growth gives up 0.1 percent to 9,116.30.

On the main index in Piazza Affari STMicroelectronics advances 1.8 percent to EUR39.88 per share.

CNH Industrial, on the other hand, rises 1.6 percent. The company reported that it purchased about 555,000 of its own ordinary shares between May 15 and 17 for a total value of EUR7.1 million.

Interpump, on the other hand, advances 1.3 percent to EUR52.02, following eve's gain of 1.1 percent.

Inwit, on the other hand, gives up 0.4 percent, among the few declines on the list for the fifth session in a row.

On the cadet segment, the locomotive is Danieli&C, which scores a plus 1.8% on the heels of last night's timid vedrde of 0.4%.

Maire - up 0.2 percent - announced Thursday that it had signed a new EUR40 million loan agreement with BPER Corporate & Investment Banking, assisted for 80 percent of the amount by a guarantee granted by SACE Spa, in order to further strengthen the group's financial structure.

OVS's buyback program continues, but it opened down 0.6 percent. The company reported that it bought back nearly 202,000 ordinary shares between May 18 and May 24, 2023, for a total value of just under EUR525,000.

At the tail end is Iren, which currently gives up 1.5 percent to EUR1.8340 in its fifth session on the bearish side.

On the Small-Cap, Eukedos advances 5.8 percent to EUR1.19 on its third session on the bullish side.

Tesmec - in the red by 1.4 percent - let it be known on Friday that Cerved Rating Agency, an Italian agency specializing in assessing the creditworthiness of non-financial companies, confirmed the company's "B1.2" solicited rating assigned to the company.

Trevi Finanziaria Industriale--declining 0.4 percent--reported Thursday that its Trevi Spa and Soilmec Spa divisions won contracts and orders worth a total of EUR216.2 million in the first four months of 2023. Thanks to these acquisitions, the group's order backlog as of April 2023 stands at EUR591 million.

Among SMEs, Fenix Entertainment is advancing well, marking a plus 11 percent with price at EUR0.1320 pending the results being published for today.

Good purchases also on Franchetti, which advances with 2.5%pointing to the third session to end on the bullish side.

Alfonsino, on the other hand, gives up 7.0 percent, on the heels of the eve's close with a plus 7.3 percent.

In New York on the European night, the Dow closed in the red by 0.1 percent, the Nasdaq rose 1.7 percent, and the S&P 500 closed in the green by 0.9 percent.

In Asia, with Hong Kong closed for holidays, the Nikkei rallied 0.4 percent, as did the Shanghai Composite.

Among currencies, the euro changed hands at USD1.0735 against USD1.0726 on Thursday in closing European equities. In contrast, the pound is worth USD1.2346 from USD1.2336 last night.

Among commodities, Brent crude is worth USD76.13 per barrel versus USD76.64 per barrel last night. Gold, meanwhile, trades at USD1,950.05 an ounce from USD1,945.60 an ounce last night.

On Friday's macroeconomic calendar, the Italian consumer and business confidence level is released at 1000 CEST.

From overseas, at 1430 CEST, will come the durable goods order, consumer spending price index, PCE price index and personal consumption.

Among the companies listed on the Stock Exchange, the results of Imvest, Promotica and TrenDevice are expected.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.