(Alliance News) - European stock markets-according to the futures market-are expected to open higher on Friday as trading rooms continue to assess euro zone data to align with the economic and interest rate outlook.

European Central Bank President Christine Lagarde said earlier this week that inflation remains too high and it is too early to declare victory on consumer price increases.

Activity in China's manufacturing sector contracted for the third consecutive month in June, according to official data shown Friday, signaling an uneven recovery in the World's number two economy as global demand and commodity prices slumped. The official Purchasing Managers' Index in Manufacturing, a key measure of factory output, came in at 49.0 points in June, below the 50-point threshold separating expansion and contraction, according to the National Bureau of Statistics. That is higher than the 48.8 figure recorded in May and in line with the forecasts of economists surveyed by Bloomberg.

Thus, the FTSE Mib jumps ahead 85.00 points, after closing up 1.1 percent at 27,928.44 last night.

In Europe, London's FTSE 100 advances 22.00 points, Paris's CAC 40 is up 22.50 points, and Frankfurt's DAX 40 marks an upward move of 50.50 points.

On Thursday the Mid-Cap closed up 0.2 percent to 42,386.16, the Small-Cap in the green 0.4 percent to 26,827.98, while Italy Growth gained 0.5 percent to 9,076.30.

On the main index of Piazza Affari last night, Stellantis took the top spot, up 3.6 percent. The rest of the Agnelli Galaxy closed in the green with CNH Industrial up 0.3%, while Iveco gained 1.3% and Ferrari 1.6%.

Tenaris also did well, up 2.7 percent. Among oils, Saipem rose 2.6 percent. The company announced that it has been awarded two new contracts, one for offshore EPCI activities in the Middle East and the other for subsea drone development in Brazil, worth a total of about USD1 billion.

Also in the green is Pirelli & C - up 0.1 percent - which announced Wednesday that Andrea Casaluci, who will be named to the post of chief executive officer of the company, in coordination with current executive vice president and chief executive officer Marco Tronchetti Provera, has decided to propose to the board of directors the establishment of the Corporate General Management Department under him, entrusting its responsibility to Francesco Tanzi, who returns to the Pirelli Group after leaving Iveco Group.

Prysmian Group--down 0.3 percent--reported Thursday that it has reached an important milestone with Eastern Green Link 2 Limited, a joint venture between SSEN Transmission and National Grid Electricity Transmission plc, owners of the electric transmission systems in the UK.

Following Prysmian's selection in May as the exclusive preferred bidder, the commitment includes the payment of EUR180 million to ensure the continued availability of Prysmian Group's capacity to build the Eastern Green Link 2 cable connection during the remaining negotiation period aimed at finalizing the contract in a timely manner.

On the Mid-Cap, Iren -- in the red by 1.4 percent -- on Monday reported that its subsidiary, Iren Green Generation, signed a contract with European Energy to acquire 100 percent of the SPV -- a special purpose vehicle -- Limes 20 Srl, wholly owned by European Energy and holder of the authorization for the construction of a new 20.39 MWp photovoltaic plant on land located in the municipalities of Noto and Pachino, Sicily.

This transaction is part of the commercial agreement, signed in January 2022, which establishes a partnership between European Energy and Iren on a pipeline of 437.5 MWp of photovoltaic projects in Italy.

Relatech -- in the red by 0.4 percent on Italy Growth -- announced Wednesday that it has signed a strategic agreement with Credemtel Spa, a company of the Credito Emiliano group -- rising 1.1 percent -- to manage cybersecurity services for its own and the banking group's customers through ReSOC , the proprietary cybersecurity services and solutions asset of the Relatech ecosystem.

The board of directors of Arnoldo Mondadori Editore -- up 2.5 percent -- on Thursday reviewed and finalized the upward revision of fiscal year 2023 targets.

In detail, the company confirmed single-digit growth in revenues, adjusted Ebitda is expected to increase high single-digit/low double-digit compared to the previous single-digit estimate, with margins expected to be between 16 percent and 17 percent from the previous 15 percent, and net income is expected to grow by about 20 percent, an estimate doubled from the previous one, due to both operational improvement and the effects of the sale of the stake in Il Giornale.

On the Small-Cap segment, PLC closed flat after reporting Thursday that its subsidiary PLC System Srl signed a contract with Suncore 2 Srl, a company in the Peridot Solar group, for the turnkey construction of a utility substation serving a high-voltage apartment building, serviced by a photovoltaic park with a total capacity of 31.7 MWp, located in Nuoro.

Peridot Solar Group is a portfolio company managed by private equity fund Fitz Walter Capital, which currently has about 330 MW of PV plants under construction and more than 1.1 GW of pipeline under development between the UK and Italy. The total consideration for the contract amounts to more than EUR3.3 million.

LVenture Group - in the green by 0.3 percent - and Digital Magics - in the green by 1.9 percent among SMEs - have approved the merger project, creating the Italian leader dedicated to startup investment and open innovation. In detail, Digital Magics shareholders will receive 46 shares in LVenture for every five shares held, holding 63 percent of its capital, while LVenture shareholders will hold 37 percent.

Among SMEs, Talea Group rose 2.5 percent after it announced Thursday that its board of directors approved the acquisition of Bewow Srl's business unit -- consisting of the Gooimp and Mood brands -- and the MBO Plan 2023 short-term cash incentive plan.

The deal involves the sale of Bewow's business to Talea against payment of a consideration - which will be made using equity - of up to EUR1.9 million.

Planetel gained 1.8 percent after it and Open Fiber on Thursday signed a new framework agreement regarding the concession in IRU - Indefeasible Right of Use - of some of Planetel's fiber network sections in order to support the development of Open Fiber's ultra-fast fiber cabling plan.

In New York on European night, the Dow closed in the green by 0.8 percent, the Nasdaq in perfect parity, while the S&P 500 closed up 0.5 percent.

Among Asian exchanges, the Hang Seng is proceeding in the red by 0.3 percent, the Nikkei marks minus 0.1 percent, while the Shanghai Composite is advancing 0.6 percent.

Among currencies, the euro changes hands at USD1.0857 versus USD1.0883 at Thursday's European equities close. In contrast, the pound is worth USD1.2604 from USD1.2611 last night.

Among commodities, Brent crude is worth USD74.53 per barrel versus USD73.78 per barrel at Thursday's close. Gold, meanwhile, trades at USD1,903.90 an ounce from USD1,918.85 an ounce on Wednesday evening.

On Friday's economic calendar, at 0955 CEST we get the release of unemployment rate data from Germany.

At 1100 CEST, the non-EU trade balance for Italy is released.

At the same time comes inflation for the Eurozone.

At 1300 CEST from Spain comes data on the level of confidence in the business sector.

Overseas, at 1430 CEST, comes personal income data, personal spending data and the PCE index from the United States.

Among companies listed on the Stock Exchange, no particular announcements are expected.

By Maurizio Carta, Alliance News reporter

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