(Alliance News) – On Friday,Piazza Affari closed up 0.5 percent, bringing the point bar up to 28,200 after initial reactions to Federal Reserve Chairman Jerome Powell’s press conference in Jackson Hole.

Powell said the U.S. central bank is “ready” to raise interest rates further to bring inflation “sustainably” down to its 2 percent target.

“Although inflation has come down from its peak, it remains too high. We stand ready to raise rates further, if necessary, and we intend to keep monetary policy at a restrictive level until we are confident that inflation is moving sustainably down toward our target,” Powell said at a press conference held during the symposium in Jackson Hole, Wyoming.

The central banker added that while the lower monthly personal consumption expenditure inflation data in June and July were “well received,” the two months of “good data” were “just the beginning of what it will take to build confidence that inflation is slowing toward the Fed’s sustainable 2 percent target.”

Thus, the FTSE Mib is up 0.4 percent to 28,208.45, the Mid-Cap is up 0.1 percent to 41,061.69, the Small-Cap gave up 0.1 percent to 26,777.17, and Italy Growthhas picked up 0.1 percent 8,845.78.

In Europe, Paris’ CAC 40 closed in the green by 0.2 percent, while Frankfurt’s DAX rose 0.1 percent as did London’s FTSE 100.

On the blue chip list, Iveco Group confirmed the good form with which it began the session, doing better than all with a 4.2 percent rise, with assets up more than 55 percent since the start of 2023.

Good purchases were also made on UniCredit, with the Piazza Gae Aulenti stock bringing home a 1.4 percent gain, rearing its head again after two sessions ended among the declines.

Stellantis, on the other hand, rallied 1.1 percent, bringing the price to EUR16.72, following a 1.1 percent decline in the previous session.

STMicroelectronics, on the other hand, retreats 0.1 percent. closing for the third session in a row on the bearish side.

Rear-ends also for Banca Monte dei Paschi, which marks a minus 0.8 percent on its fourth session in the negative balance and with weekly posting a red of about 7.0 percent.

On the Mid-Cap, Zignago Vetro confirmed the bullish trend seen since the bell rang, closing up 2.6 percent in appreciation on the heels of eve’s 0.1 percent green.

Alerion, on the other hand, picked up 3.1 percent, following Thursday’s negative balance of 1.3 percent and doing better than anyone on the cadet list.

Salcef Group — in the green by 1.5 percent — reported Wednesday that its subsidiary Salcef won the tender called by ANAS — of the FS Italiane group — for the construction of one of the key projects for the Jubilee 2025 in Rome. Specifically, the project involves the burying of the existing road system in Piazza Pia through the extension by about 130 meters of the existing underpass built as part of the Jubilee 2000 works.

Thanks to this intervention, a continuous pedestrian path will materialize between the area in front of Castel Sant’Angelo and Via della Conciliazione, resulting in improved usability of a stretch now affected by intense vehicular flow. The contract amount is about EUR35 million.

Tod’s also does well, picking up 0.7 percent. The stock – which has been missing the ex-dividend since 2019 – marks a 24 percent rise since the start of 2023.

At the back of the pack, Industrie de Nora steps back 0.9%, repricing to EUR17.31, on the heels of eve’s 2.1% red.

Intercos, meanwhile, gives up 2.2%, in its seventh consecutive bearish session.

On the Small-Cap, high quarters for Itway, which moved ahead 4.4 percent. The company let it be known on Friday that its subsidiary 4Science continued its upward trend during the first half of the year, recording 117 percent growth in orders compared to the first half of 2022, reaching an order value of more than EUR1.2 million.

The buy side also largely prevails on Triboo, which moves ahead 4.2 percent, after a 1.4 percent decline on the eve.

Also trading well is Trevi Finanziaria Industriale, which with a 1.9 percent gain has repeated in the green on Thursday when it picked up a plus 7.4 percent.

On a negative note, Eems left 3.3 percent on the parterre, which follows a 3.2 percent drop in the previous session.

Also trailing was Zucchi, which posted minus 3.0 percent after a gain of 2.2 percent in the previous session.

Among the SMBs, Finanza.Tech advanced 4.0%, while Iervolino & Lady Bacardi posted a plus 1.7%.

Strength also on Ambromobiliare, which advanced more than 16 percent, in its fifth session closed on a bullish trend.

International Care Company–up 7.7 percent–reported Friday that Intesa Sanpaolo Vita had finalized its entry into the company’s capital. The latter subscribed to a EUR500,507.70 reserved capital increase made through the issuance of 238,337 new ordinary shares of ICC at EUR2.10 each and took over 238,338 shares from shareholder FD Holding Spa.

ICC’s stock thus closed up 7.7 percent at EUR1.68 per share, while Intesa Sanpaolo’s stock–on the Mib–brought home a gain of 0.2 percent.

On a negative note, among others, ISCC Fintech gives up 3.7 percent, while Energy instead gives up 3.4 percent, after 0.4 percent assets on the eve. The latter had previously come from five bearish sessions.

In New York, the Dow Jones is in the green by 0.4 percent, the S&P up 0.2 percent, while the Nasdaq is advancing 0.1 percent.

Among currencies, the euro changes hands at USD1.0787 against USD1.0829 on Thursday in closing European equities while the pound is instead worth USD1.2571 from USD1.2632 on Thursday evening.

Among commodities, Brent crude is worth USD84.22 per barrel versus USD83.19 per barrel at Thursday’s close. Gold, on the other hand, trades at USD1,909.42 an ounce from USD1,921.03 an ounce Thursday evening.

On Monday’s economic calendar, note that London will be closed for a Bank Holiday while, at 1000 CEST, Eurozone money supply data is due.

At 1630 CEST, eyes on the Dallas Fed’s business index while, at 1730 CEST, an auction of three- and six-month Treasury bonds is scheduled. At 1900 CEST, however, it will be the turn of bonds with two- and five-year maturities.

In the Piazza Affari corporate calendar, however, no particular announcements are scheduled.

By Maurizio Carta, Alliance News reporter

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