(Alliance News) - Piazza Affari closed higher in the last session of the week, with Prysmian leading the gains after U.S. inflation data did not particularly affect investor sentiment.

U.S. inflationary pressure was stronger than expected last month, according to the Federal Reserve's preferred indicator released Friday.

The Bureau of Economic Analysis said the headline personal consumption index grew 2.8 percent in March, while the annual pace of growth was unchanged from February. It had cooled slightly in February from 2.9 percent in January. The latest figure exceeded the consensus cited by FXStreet of 2.6 percent.

The main PCE reading does not include food and energy. The annual PCE figure, which does include them, rose to 2.7 percent in March from 2.5 percent in February, exceeding the consensus of 2.6 percent.

In New York, the Dow is up 0.2% to 38,172.37, the Nasdaq is up 1.9% to 15,913.09 and the S&P 500 gains 1.0% to 5,096.44.

The FTSE Mib closed Friday up 0.9 percent to 34,249.77, the Mid-Cap rose 1.6 percent to 47,118.36, the Small-Cap gained 1.4 percent to 28,684.08 and Italy Growth finished up 0.5 percent to 8,175.31.

In Europe, London's FTSE 100 closed up 0.8 percent, Paris' CAC 40 rose 1.0 percent and Frankfurt's DAX 40 gained 1.4 percent.

On the Mib, Prysmian rose 3.5% but it was the banks that stole the show, with Monte dei Paschi up 4.0% and Pop di Sondrio up 3.0%.

Tenaris plummeted 7.9% after reporting Thursday results for the first quarter of the year, which ended with a profit of USD750 million, down from USD1.13 billion in the first quarter of 2023. Revenues rose to USD3.44 billion from USD4.14 billion in the same period.

Among the few bearish performers, Hera gave up 0.9 percent while STMicroelectonics lost 2.4 percent after reporting Thursday that revenues and profits fell double digits in the first quarter and that it expects revenues to decline further in the second quarter.

Revenues for the first three months fell to USD3.47 billion from EUR4.25 billion in the first quarter of 2023, an annual decline of 18 percent, and from USD4.28 billion in the fourth quarter of 2023, a quarterly decline of 19 percent.

On the cadet segment, Ariston Holding and Salvatore Ferragamo marked positive gains, up 5.3 percent and 4.4 percent, respectively.

Saras rose 0.1 percent after announcing Friday that, in connection with the prospective acquisition by Vitol BV of a stake representing approximately 35 percent of the share capital of Saras, the Presidency of the Council of Ministers issued a decree regarding the exercise of special powers - golden power - "containing prescriptions not impeding the completion of the transaction."

Therefore, the statement says, one of the related conditions precedent for the completion of the transaction has been fulfilled.

Shareholders of Credito Emiliano -- up 1.7 percent -- appointed the members of the new board of directors.

The new board of directors includes Paola Agnese Bongini, Enrico Corradi, Giorgia Fontanesi, Mariaelena Fontanesi, Elisabetta Gualandri, Luigi Maramotti, Alessandro Merli, Ernestina Morstofolini, Edoardo Prezioso, Anna Chiara Svelto, Giovanni Filippo Emilio Viani and Lucio Igino Zanon di Valgiurata.

Credem's board of directors, which met at the end of the meeting, confirmed Lucio Igino Zanon di Valgiurata as chairman and Enrico Corradi and Luigi Maramotti as vice chairmen.

Webuild--up 5.2 percent--reported Wednesday that it had acquired EUR5.5 billion in new orders since the beginning of the year at the end of March.

As the former Salini Impregilo explained, almost all of the new orders came from abroad, in markets such as Canada, the US and Saudi Arabia. The significant order intake represents about 50 percent of the expected orders for the year 2024.

Added to this is a near-term commercial pipeline of more than EUR70 billion, fueled by the major investment plans launched in key markets monitored by the group, such as Central and Northern Europe, Australia, the U.S. and the Middle East.

d'Amico International Shipping rose 2.1 percent after announcing on Friday that its Irish operating subsidiary d'Amico Tankers DAC has entered into a construction contract with Jiangsu New Yangzi Shipbuilding Co. of China for the purchase of two additional new LR1 'Long Range' tankers -- 75,000 deadweight tons -- at a contract price of USD56.2 million each.

Among small caps, Itway - up 0.8 percent - ended 2023 with a pretax loss of EUR481,000 from one of EUR362,000 as of Dec. 31, 2022, while net loss was EUR330,000 from one of EUR348,000.

Revenues for the period stood at EUR49.1 million from EUR46.7 million in 2022.

Elica - in the red by 1.1 percent - on Wednesday let it be known that from April 26 it will start a new buyback plan for a maximum number of purchasable shares of 1 million.

Among SMEs, Illa gained 25 percent and did best of all.

Caribbean Company gave up 0.3 percent. The company reported Thursday that revenues for the first three months rose 4.2% year-on-year to EUR11.7 million from EUR11.2 million in the same period a year earlier.

Poligrafici Printing -- up 7.3 percent -- reported Wednesday that it ended 2023 with consolidated revenues of EUR24.1 million from EUR28.0 million as of Dec. 31, 2022.

Ebitda stood at EUR4.9 million in 2023 from EUR6.1 million in the previous year.

Consolidated profit for the year was EUR1.5 million from EUR2.4 million in 2022. The company proposed the distribution of a dividend of EUR0.03 per share from EUR0.0295 in 2022.

Among currencies, the euro changed hands at USD1.0677 from USD1.0717 on Thursday in closing European equities while the pound was worth USD1.2452 from USD1.2491 on Thursday evening.

Among commodities, Brent crude is worth USD89.37 a barrel from USD87.57 a barrel Thursday evening and gold trades at USD2,339.86 an ounce from USD2,346.10 an ounce Thursday evening.

Monday's macroeconomic calendar opens with Spanish inflation, at 0900 CEST, followed an hour later by Italy's trade balance with non-EU countries and German inflation.

Eurozone consumer and business confidence data will arrive at 1100 CEST, 10 minutes before the five- and 10-year BTP auctions and an hour before the Eurogroup meeting. At 1300 CEST, space will be given to Spanish business confidence.

Later in the day, French BTF and US T-Note auctions will also be held.

Among the companies in Piazza Affari, Digital Value, Lottomatica Group, Monrif, Softlab, TraWell Co, Xenia and Zignago Vetro will release results.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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