(Alliance News) - Major European stock markets open mixed on Friday, with the Mib moving below parity while Assicurazioni Generali ends up at the bottom after the publication of its half-year results.

On the macro front, while waiting for Italian inflation data, the German Federal Statistical Office reported Friday that the annual inflation rate in Germany rose to 2.3 percent in July from 2.2 percent in the previous month, in line with preliminary estimates.

In China, however, consumer price inflation was stronger than expected in July, reaching a five-month high, data showed Friday. The July reading-which beat market forecasts in a Bloomberg survey-represents the fastest increase in consumer prices since February, when the index rose 0.7 percent year-on-year.

Thus, the FTSE Mib opens fractionally in the red at 31,726.95, the Mid-Cap is up 0.3 percent at 44,925.34, the Small-Cap opens up 0.1 percent at 27,855.60, and Italy Growth is in the green 0.3 percent at 7,805.86.

In Europe, London's FTSE 100 opens in the green by 0.3 percent, Paris' CAC 40 is up 0.2 percent while Frankfurt's DAX 40 is in the fractional red.

On the Mib, Assicurazioni Generali gives up 2.4 percent and ends at the bottom. The company announced Friday that it closed the first half of the year with a normalized net income of EUR2.02 billion from EUR2.33 billion as of June 30, 2023, mainly as a result of realized nonrecurring gains and other one-offs related to the first half of 2023. Excluding these effects, normalized net income would be stable, the company notes.

Group net income stands at EUR2.05 billion from EUR2.24 billion as of June 30, 2023.

Total gross premiums amounted to EUR50.14 billion from EUR42.24 billion in the first half of 2023, thanks to the strong development of both segments, life and non-life.

In addition, Assicurazioni Generali announced on Friday the start of share buyback operations for a maximum of EUR500.0 million, for a number of shares not exceeding 3 percent of the share capital, no later than 18 months after the shareholders' resolution of April 24.

Unipol is in the red by 0.4 percent after announcing Friday that it closed the first half of the year with a profit of EUR555.0 million, up from EUR517.0 million as of June 30, 2023.

Direct insurance inflows amounted to EUR8.17 billion, up 10 percent from EUR7.93 billion in the same period of 2023.

Azimut Holding -- in the red by 0.3 percent -- announced Thursday that it has entered into a strategic partnership with financial institution AMP Limited and advisory services group Entireti through its Australian subsidiary AZ Next Generation Advisory to create a unique and attractive offering for AMP's financial advisors.

STMicroelectronics does best of all and rallies 1.4 percent, followed by Banca Popolare di Sondrio and Nexi, both up 1.2 percent.

On the cadet segment, the board of GVS--on the bottom down 2.3 percent after closing up 7.7 percent--on Thursday approved preliminary results for the first half of 2024. Normalized net income stood at EUR22.5 million, up 12 percent from the previous year. GVS had consolidated revenues of EUR214.8 million in the first half of 2024, up 1.6 percent year-on-year at constant exchange rates and 0.7 percent at current exchange rates.

Technoprobe is flat at EUR7.35 after losing 9.2 percent in closing Thursday. The company reported Thursday that it closed the first half with revenues up to EUR241.1 million from EUR196.3 million in the same period a year earlier. However, net income contracted to EUR28.1 million from EUR31.1 million.

Salcef Group is not yet affected by exchanges. The company reported Thursday that it ended the first half of the year with adjusted net income up 22 percent to EUR37.9 million from EUR31.0 million in the same period of 2023. Net income increased 13 percent to EUR35.1 million from EUR31.1 million in the first half of 2023.

Revenues as of June 30 were EUR486.6 million, up 35 percent from EUR125.0 million a year earlier.

On the small-cap side, Servizi Italia -- not yet trading after closing in the green by 0.5 percent -- reported Thursday that it closed the first half with a consolidated profit of EUR4.2 million from EUR2.9 million as of June 30, 2023. During the period, consolidated revenues stood at EUR147.2 million from EUR143.8 million in the first half of 2023.

Trevi Finanziaria Industriale -- down 2.2 percent after closing in the red by 8.8 percent -- said Thursday that its board of directors reviewed and approved the group's interim report, half-year ended with a net profit for the year of EUR551,000 down from EUR27.6 million as of June 30, 2023. Group loss, meanwhile, amounted to EUR2.6 million from a profit of EUR23.6 million in the same period of 2023.

Bialetti Industrie still does not trade. The company reported Thursday that it closed the first half with consolidated revenues at EUR67.3 million from EUR63.3 million in the first half of 2023.

Normalized Ebitda is EUR8.6 million from EUR7.7 million as of June 30, 2023 .

Among SMEs, Riba Mundo Tecnología is not yet trading. The company reported Thursday that it closed the first half of the year with revenues at EUR228.6 million, up 25 percent from EUR183.6 million in the first half of 2023.

Circle advances 2.1 percent while Finance.tech follows with 2.0 percent.

In Asia, the Nikkei closed in the green by 0.6 percent, the Hang Seng rose 1.4 percent and the Shanghai Composite gave up 0.3 percent.

In New York on European night, the Dow closed in the green by 1.8 percent, the Nasdaq picked up 2.9 percent while the S&P 500 finished up 2.3 percent.

Among currencies, the euro changed hands at USD1.0921 versus USD1.0906 in Thursday's European equities close while the pound was worth USD1.2761 from USD1.2727 on Thursday evening.

Among commodities, Brent crude is trading at USD79.11 per barrel versus USD78.89 per barrel at Thursday's close. Gold, on the other hand, trades at USD2,422.68 an ounce from USD2,416.00 an ounce on Thursday evening.

Friday's macroeconomic calendar features Italian inflation at 1000 CEST. At 1100 CEST, again from Italy, the trade balance report will be released.

In the evening, starting at 1900 CEST, from the U.S. will come the Baker Hughes plants report, while at 2130 CEST it will be time, as usual, for the release of the COT Report.

On the corporate calendar, coming up are results from Dexelance, NB Aurora, Newlat Food, Pharmanutra and Valsoia.

By Chiara Bruschi, Alliance News reporter

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