Oxygen on stocks; oil advances on Mib.

(Alliance News) - European stock markets moved higher Friday, in the last session of what has been a week marked by high volatility, with risk appetite improved following efforts in the United States and Europe to support troubled banking groups and avert a much broader systemic crisis.

A group of large U.S. banks agreed to contribute USD30 billion in deposits to First Republic Bank in an effort to bolster confidence in the financial system, a day after Credit Suisse announced it would borrow up to CHF50 billion from the Swiss National Bank.

The banking turmoil has also fueled the narrative that central banks may "soften" their stance against inflation to avoid a severe recession.

On Thursday, the European Central Bank raised its three main rates by 50 basis points and also stressed that the euro area banking sector is resilient, with solid capital and liquidity positions of its institutions.

Thus, for the FTSE Mib, the rise is 1.5 percent to 26,317.73 with put/call ratio at 3.7.

Among the smaller listings, the Mid-Cap is up 0.8 percent to 42,690.13, the Small-Cap gains 1.3 percent to 29,932.23, and Italy Growth is in the green by 0.5 percent to 9,259.57.

In Europe, London's FTSE 100 is up 1.2%, Paris' CAC 40 is up 0.8%, and Frankfurt's DAX 40 is in the green by 0.9%.

On the main list in Piazza Affari, Saipem is off to a good start, putting up 4.3 percent on the heels of eve's green of 4.0 percent.

Confirming the oil sector's good session, also in an uptrend are parent company Eni, which rises 3.8%, and Tenaris, which advances with 3.5%.

Enel's board of directors -- up 2.3 percent -- on Thursday approved its consolidated results for fiscal year 2022, in which it reported revenues of EUR140.5 billion, up EUR54.8 billion, up 64 percent from the previous year.

Negative note for Campari, which marks minus 0.8% after three sessions on the bullish side.

Leonardo, on the other hand, gives up 0.2%. Of note, the stock since the beginning of 2023 shows a rise of more than 33%.

On the cadet segment, Webuild takes the lead, advancing 7.1 percent. The board of directors on Thursday approved the consolidated financial statements and draft operating budget as of December 31, 2022, reporting an adjusted net profit of EUR118.0 million, an improvement from a loss of EUR56 million in 2021. The board also decided to propose a unit dividend of EUR0.057.

MutuiOnline, meanwhile, is rising 2.8 percent, reversing course after two bearish sessions.

Industrie De Nora is advancing 2.5 percent, with the market up 36 percent since the beginning of the year.

MARR closes the list in the narrow bearish group, giving up 0.5 percent to EUR11.80.

On the Small-Cap, Netweek steps back 4.6 percent to EUR0.0372, while Monrif gives up 4.1 percent after eve's gain of 2.7 percent.

Landi Renzo, on the other hand, advances 4.6 percent to EUR0.5900, echoing Thursday's green closed with a plus 4.3 percent.

On the other hand, d'Amico is picking up 5.0%, with price at EUR4.98. Of note, the company on a year-to-date basis shows an increase that has exceeded 400%.

On Italy Growth, Finanza.tech advances 3.9%, rearing its head again after five bearish sessions.

Cyberoo, on the other hand, rises 3.8 percent. During the week the company informed that it had acquired the remaining 49% of Cyber Division Srl, of which it had acquired 51% in 201.

At the tail end Fae technolofy gives up 2.7 percent, after closing in the green the previous two sessions.

In New York on the European night, the Dow closed up 1.2 percent, the Nasdaq gained 2.5 percent while the S&P 500 closed in the green by 1.8 percent.

In Asia, the Nikkei rose 1.2 percent, the Hang Seng in the green by 1.6 percent, while the Shanghai Composite rose 0.7 percent.

Among currencies, the euro changed hands at USD1.0665 against USD1.0620 at yesterday's close. In contrast, the pound is worth USD1.2172 from USD1.2113 on Thursday evening.

Among commodities, Brent crude is worth USD75.02 per barrel versus USD74.34 per barrel last night. Gold, on the other hand, trades at USD1,933.14 an ounce from USD1,924.25 an ounce at Thursday's close.

Friday's macroeconomic calendar at 1000 CET features Italy's trade balance while half an hour later comes data on UK inflation expectations.

At 1100 CET it is the turn of inflation for the Eurozone and payroll data in the euro area.

In the afternoon, at 1415 CET, data on US industrial and manufacturing production are expected.

At 1500 CET, it is the turn of Michigan expectations sentiment and the US predictive index.

Among companies listed on the Milan Stock Exchange, results from Banca Popolare di Sondrio, Centrale del Latte d'Italia, GEL, Intermonte Partners SIM, Interpump Group, Matica Fintec, Newlat Food and Softlab are expected.

By Maurizio Carta, Alliance News reporter

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