(Alliance News) - On Friday, the Old Continent's financial markets -- to which Milan was no exception -- ended on the losing side in the latest weekly session. Weighing down the stock markets was a series of economic data and corporate quarterly reports, with trading rooms assessing their potential impact on the outlook for monetary policy.

The latest GDP data showed the Eurozone economy grew by a meager 0.1 percent in the first quarter, with German GDP unexpectedly unchanged as rising inflation and rising borrowing costs weakened demand.

On Friday, in the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate or EFFR, the main rate hike for the May 3 meeting has a 16 percent probability priced in for confirmation in the 475/500 bps range.

In contrast, it is at 84 percent probability for an increase in the 500/525 bps area, a rise equivalent to 25 bps, up sharply on an intraday basis. The current target is between 475 and 500 bps.

The Federal Reserve's preferred measure of inflation slowed on a monthly basis in March. The personal consumption expenditures price index rose 0.1 percent on a monthly basis, down from the 0.3 percent recorded in February and estimated by economists. Annually, the figure dropped to 4.2 percent from 5.1 percent.

The Core PCE index rose 0.3%, in line with the previous month and in line with economists' projections, according to Commerce Department data on Friday. On a year-over-year basis, the core reading slowed to 4.6 percent from an upwardly revised level of 4.7 percent in February, but beat estimates of 4.5 percent.

Thus, the FTSE Mib closed in the red 0.3% to 27,077.44, the Mid-Cap up 0.1% to 43,420.57, the Small-Cap gives up 0.1% to 29,102.15, and Italy Growth is in the green 0.2% to 9,254.83.

In Europe, Paris' CAC 40 rose 0.1 percent, London's FTSE 100 closed up 0.5 percent, and Frankfurt's DAX 40 picked up 0.8 percent.

On the main list in Piazza Affari, Banco BPM gave up 4.2 percent to EUR3.69 per share after last night's gain of 2.6 percent.

FinecoBank marks minus 3.8%, after two sessions closed among the bullish.

Banca Monte dei Paschi also loses ground, marking minus 4.2% after being the best in the previous session by rising 4.4%.

The board of Eni -- in the green by 2.0% -- announced Friday that it had approved consolidated results for the first quarter, having reported adjusted pre-tax profit of EUR4.98 billion, down 5.0% from the same period last year when it was EUR5.23 billion.

Saipem closed up 2.9 percent to EUR1.3860. Capital Fund Management raised its short position to 1.1% from 1.0% previously.

Tenaris also did well, advancing 2.8% after falling 3.6% on the eve.

On the Mid-Cap, positive notes included Antares Vision, which marked a plus 2.3%. The company announced Wednesday that it has acquired, through its subsidiary rfxcel, 100 percent of Smart Point Technologies Ltd, an Indian software development company that creates complex and innovative solutions. The total outlay for Smart Point is EUR7.8 million.

Salvatore Ferragamo also advances well, rising 1.5 percent to EUR15.93.

Seco, on the other hand, appreciated 3.6 percent to EUR4.65, after a 0.8 percent decline on the eve.

In the rear ranks is LU-VE, marked a minus 3.2% after the previous two sessions closed in the green.

Also in the rear ranks was MFE stock, with class A shares giving up 4.0% and class B shares 2.9%.

On the Small-Cap, good buying on Eukedos, with the stock ahead 4.8% with price at EUR1.20, after eve's 0.4% loss.

Seri Industrial gives up 3.5 percent, after announcing that in the first three months of the year it reported revenues of EUR45.0 million from EUR44.0 million in the same period a year earlier.

In contrast, Conafi advances 0.5 percent to EUR0.40, on the heels of a 1.5 percent decline.

Elica's board of directors -- flat at EUR2.83 -- approved results for the first quarter of 2023, which closed with a net profit of EUR3.4 million compared to EUR4.7 million in the first quarter of 2022. The normalized result was EUR3.9 million. In the first quarter of 2023, Elica posted revenues of EUR129.0 million, "in a market characterized by shrinking demand and affected by destocking measures implemented by OEM customers," the company's note says. Last year in the first quarter it was EUR144 million.

Seri Industrial gives up 3.5 percent-after a 0.7 percent loss on the eve of the meeting-bringing its weekly weekly loss to about 11 percent.

Finally, among SMEs, Fenix Entertainment gave up 9.5 percent to EUR0.2680.

Franchi Umberto Marmi gives up 2.2%, after announcing Thursday that total revenues as of March 31 were EUR22.7 million, up 7%, compared to EUR21.1 million recorded in the same period last year, with a significant contribution from sales in Turkey, South Korea and India. Sales on the Italian market, as of March 31, 2023, increased by 4%, compared to the first three months of 2022, reaching EUR12.3 million or 54% of total revenues, confirming the good health of the domestic market.

MeglioQuesto - up 4.3 percent - reported that the board resolved to initiate a EUR7.0 million capital increase reserved for Pierluigi Ghiani and Francesco Simula. The transaction will be developed through the issuance of 4.0 million ordinary shares at a subscription price of EUR1.75 each. Of the amount of the capital increase, EUR400,000 will go to increase the company's share capital while EUR6.6 million will be allocated to share premium reserve.

It does better Casasold, which advanced 3.0 percent to EUR0.9080, positioning itself for the sixth session in a bullish trend.

In New York, the Dow Jones is up 0.6 percent, the Nasdaq picks up 0.2 percent and the S&P 500 is up 0.5 percent.

Among currencies, the euro changes hands at USD1.0942 versus USD1.1025 at Thursday's close. In contrast, the pound is worth USD1.2577 from USD1.2493 last night.

Among commodities, Brent crude is worth USD80.30 per barrel compared to USD77.98 per barrel on Thursday evening. Gold, on the other hand, trades at USD1,991.95 an ounce from USD1,984.03 an ounce at Thursday's close.

Tuesday's macroeconomic calendar features the Caixin PMI from China at 0345 CEST, at 0800 CEST from the UK the national house price index, and retail sales from Germany. At 0945 CEST the manufacturing purchasing managers' index from Italy and at 1000 CEST from the Eurozone. At 1100 CEST, again from Italy, the inflation figure, along with that from the Eurozone.

At 1200 CEST, from Italy, the consumer price index.

In the afternoon, from the US, orders from factories and at 1600 CEST the JOLTs report. At 2230 CEST it will be the turn of weekly oil stocks.

On the corporate calendar, results from Amplifon, Conafi, Campari and UniCredit are expected.

By Maurizio Carta, Alliance News reporter

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