(Alliance News) - On Friday, the Mib st aregistring a decline, falling below the 34,300 mark Friday, reflecting cautious sentiment across Europe, which followed global sentiment, as prospects for the Fed to keep interest rates high for some time are weighing on investors' mood.

Instead, Danske Bank no longer expects the European Central Bank to lower interest rates in September, citing steady inflation and a strong start to 2024 for the eurozone economy.

Frankfurt officials-for the Danish bank-will cut borrowing costs in June, as widely expected, and again in December, analysts led by Piet Christiansen estimated in a note. Recent data indicate that the ECB may wait before embarking on a series of reductions, they pointed out from Copenhagen in the focus on the ECB.

Thus, the FTSE Mib is giving up 0.4 percent to 34,339.68.

The Mid-Cap is marking minus 0.1 percent to 47,643.56, the Small-Cap is leaving 0.2 percent to 28,947.77 on the parterre, and Italy Growth is marking a red 0.1 percent to 8,226.64.

In Europe, London's FTSE 100 is giving up 0.5 percent as is Frankfurt's DAX 40, while Paris' CAC 40 is giving up 0.3 percent.

On the Mib, among the few bullish performers is Iveco, which appreciates 2.1 percent after seven bearish sessions.

Good buys also on Pirelli, which moves ahead 1.4% to EUR6.16. Of note, Morgan Stanley raised its target price to EUR6.60 from EUR6.10 with 'overweight' title during the week

Banca Popolare di Sondrio, on the other hand, gives up 1.3% after the 0.6% green in the previous session.

In the rear also Banca Monte dei Paschi gives instead 1.1 percent to EUR5.01 per share. It should be noted that for Rocca Salimbeni - which has been missing the ex-dividend since 2011 - assets since the beginning of the year exceed 64 percent.

Eni - up 0.8 percent - announced Thursday that the first tranche of a new share buyback program will be launched within days. In detail, the first tranche will cover a maximum of 6.4 million shares and for a maximum outlay of EUR150 million.

On the MidCap, among the bullish minority, Philogen marks a plus 3.3 percent, leaving behind the eve's 1.1 percent decline.

Maire Tecnimont, on the other hand, advances 2.8%. The company announced Thursday that a consortium composed of subsidiary Tecnimont - Integrated E&C Solutions and Baker Hughes has been awarded a contract by Sonatrach to build three compression stations, as well as to upgrade the gas gathering system, at the Hassi R'mel gas field, 550 kilometers south of Algiers. The total value of the contract is about USD2.3 billion, of which Tecnimont is responsible for USD1.7 billion.

At the tail end, Digital Value is giving up 2.8 percent, with price at EUR65.00 per share, after two sessions closed in the green.

At the back of the pack is OVS, with the apparel company edging down 2.0 percent to EUR2.63 per share. As Teleborsa's analysis writes, "OVS's short-term trend is strengthening with resistance area seen at EUR2.71, while more immediate support is glimpsed at EUR2.666. An upward continuation towards EUR2.754 is expected."

On the SmallCap, strength on Beewize, which appreciates 3.7 percent, rearing its head after two sessions closed with a bullish candle.

Eems, on the other hand, advances 5.7 percent, with price at EUR0.3160 and market capitalization up nearly 50 percent on the seven-day frame.

Landi Renzo, on the other hand, marks a minus 0.6 percent to EUR0.33. following up on a 1.5 percent decline on the eve of the day as it awaits the accounts expected later in the day. The stock-which has been missing the ex-dividend since 2011-has a fair value of EUR0.46 on the MarketScreener platform on the average of three analysts, making it about 37 percent underpriced.

Among SMEs, Caribbean Company gives up 6.7 percent, with new price at EUR1.25 per share. Of note, the stock has more than doubled its market cap in the past month, up more than 114%.

Bellini Nautica is leaving 3.6 percent on the parterre, breaking the four-session bearish mini-trend.

Allcore, on the other hand, is giving up 0.3 percent, with traders awaiting accounts due for release on Tuesday.

Strength, among many bullish traders, on Gambero Rosso, which moves ahead 4.4% to EUR0.38 per share, after two sessions closed among the bearish.

Almawave, on the other hand, advances 4.1%, reversing course after three bearish sessions.

In New York last night, the Dow gave up 1.5 percent, the Nasdaq closed down 0.4 percent, and the S&P 500 left 0.7 on the parterre.

Among currencies, the euro changed hands to USD1.0823 from USD1.0826 in Thursday's European stock close while the pound was worth USD1.2700 from USD1.2713 last night.

Among commodities, Brent crude trades at USD81.12 per barrel from USD81.78 per barrel on Thursday. Gold, on the other hand, trades at USD2,338.50 an ounce from USD2,344.25 an ounce on Thursday evening.

Friday's macroeconomic calendar includes the start of the Eurogroup meeting at 1200 CEST.

In the afternoon, overseas from the U.S. will come data on durable goods.

By Maurizio Carta, Alliance News reporter

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