(Alliance News) - On Friday, by midday, major European indices were trading in positive territory, with Milan and Frankfurt among the top performers across the continent. The Milan stock exchange was approaching the 40,400-point mark at the halfway point of the session.

Meanwhile, the EU has approved its eighteenth package of sanctions against Russia, following Slovakia's favorable vote after it received the requested guarantees on gas and energy prices.

Thus, the FTSE Mib was up 0.6% at 40,358.72, the Mid-Cap gained 0.3% to 55,593.09, the Small-Cap rose 0.7% to 32,299.96, while the Italy Growth index slipped fractionally to 8,271.46.

London's FTSE 100 was up 0.3%, Paris's CAC 40 rose 0.6%, and Frankfurt's DAX 40 advanced 0.4%.

On the macroeconomic front, in the eurozone, the current account posted a surplus of EUR32 billion in May, up from EUR19 billion the previous month, according to data released Friday by the European Central Bank.

The eurozone's current account surplus narrowed to EUR1 billion in May from EUR7.3 billion a year earlier. The services surplus fell to EUR16.7 billion from EUR22.2 billion, the primary income deficit widened to EUR34.8 billion from EUR33.4 billion, and the secondary income deficit increased to EUR11.9 billion from EUR10.6 billion.

On the other hand, the goods surplus climbed to EUR30.9 billion from EUR29.1 billion.

Finally, Eurostat reported Friday that annual growth in the construction sector slowed to 2.9% in May from 4.7% in April.

In Milan, among the blue chips, Moncler led the gainers at midday with a rise of 2.4%, with volumes exceeding 260,000 shares.

Leonardo also performed well, advancing 2.2% and continuing its positive momentum from the previous session.

Intesa Sanpaolo was up 0.3%, with trades exceeding EUR45 million. UBS raised its target price to EUR5.60 from EUR5.35, reaffirming its 'buy' rating.

UniCredit is working to secure an extension on its offer for Banco BPM. Lawyers for the bank, led by Andrea Orcel, are coordinating with Consob to determine whether conditions exist for a second suspension. The matter centers on the interaction between the Golden Power regime, certain administrative court (TAR) decisions, and preliminary opinions from the European Commission.

The UniCredit offer is set to expire on Wednesday, meaning any decision from Consob must come before then. A new suspension, lasting up to 30 days, would postpone closure until September, extending the passivity rule period on Banco BPM.

UniCredit was up 0.1% at EUR58.04 per share, while Banco BPM advanced 0.4%.

Among the decliners, Hera slipped 0.2%, FinecoBank fell 0.3%, and Iveco Group was down 0.4%.

Stellantis was at the bottom of the main index at midday, dropping 1.3%. The group announced a new investment in Morocco, earmarked for its Kenitra plant, which will double production capacity by 2030. The plan, worth a total of EUR1.20 billion for electric vehicle production, has drawn criticism from Italian politicians.

Tinexta led the Mid-Cap segment with a surge of 12%, buoyed by market rumors of a possible takeover by Nextalia, alongside Advent, aimed at delisting the company.

Credito Emiliano was unchanged at midday at EUR12.70. On Thursday, the bank announced that Fitch Ratings had affirmed its Long-Term Issuer Default Rating at 'BBB' with a positive outlook, and its Viability Rating at 'bbb'.

Acea advanced 0.1% to EUR19.74. The group has launched a EUR1.5 billion tender for modernization work on the Peschiera-Capore aqueduct, a key infrastructure for Rome's water system and the metropolitan area.

Sesa slipped 0.7% from the previous close, with midday volumes exceeding EUR4 million.

At the bottom of the mid-cap list was TXT e-solutions, down 1.4%.

On the Small-Cap, Fidia led with a gain of 7.3%, after announcing it had appointed Equita Mid Cap Advisory for consultancy services aimed at seeking financial and industrial partners.

Olidata was suspended due to excessive volatility, with a theoretical increase of 9.4% to EUR2.75 per share.

doValue rose 0.7% after announcing the signing of a binding agreement with Claimservco Holding - affiliated with funds managed by Waterland Private Equity - and other minority shareholders, for the acquisition of 100% of coeo Group's capital.

illimity Bank reported that, following the acquisition of about 93% of its capital by Banca Ifis, Moody's had upgraded all its ratings, aligning them with those of Banca Ifis and resolving the previous 'review for upgrade' status.

illimity advanced 0.4%, while Banca Ifis posted a 0.1% gain in the Mid-Cap segment.

At the bottom of the segment, Zucchi fell 2.7%, while Bestbe Holding dropped 6.3%.

Among SMEs, Tecno led the alternative market with a 14% rise.

Arterra Bioscience was unchanged at EUR2.70. The company reported that revenue for the first six months of the year rose to EUR2.6 million from EUR2.3 million in the same period of 2024.

Ilpra gained 0.9% after announcing Thursday it had completed the acquisition of 90% of Gelmini's share capital. The deal, announced in June, was executed through the purchase of 78% from Futura Holding and 12% from Vittorio Gaspari.

Among the most heavily traded laggards, Redelfi dropped 4.4%, following modest gains in the previous session.

In New York, the Dow Jones closed up 0.5%, the Nasdaq advanced 0.8%, and the S&P 500 ended 0.5% higher.

In Asia, the Nikkei closed down 0.2%, the Shanghai Composite rose 0.5%, and the Hang Seng ended 1.3% higher.

On the currency front, the euro was trading at USD1.1638 from USD1.1588 at Thursday's close, while the pound was at USD1.3438 from USD1.3410 Thursday evening.

Among commodities, Brent crude traded at USD70.33 from USD68.57 per barrel at the previous close, while gold was valued at USD3,360.42 from USD3,333.63 per ounce on Thursday evening.

On Friday's economic calendar, at 1430 CEST in the US, focus will be on construction data, and from 2130 CEST, the commodities report is expected.

At the same time, the weekly CFTC report, providing detailed analysis of net positions held by "non-commercial" traders in US futures markets, is scheduled.

By Antonio Di Giorgio, Alliance News reporter

Comments and questions: redazione@alliancenews.com

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