Fri Nov 08 21:45:26 UTC 2024: ## Piazza Affari Opens Lower, Awaiting Economic Data

**Milan, Italy** – The Italian stock market, Piazza Affari, opened lower on Friday, falling below 33,900, as investors await key macroeconomic data on Italian industrial production and retail sales. European markets also started the day in negative territory, with the FTSE Mib down 0.5%, the Mid-Cap down 0.4%, the Small-Cap down 0.6%, and the Italy Growth index up 0.1%.

Leading the gains were Pirelli, which rose 3.2% after reporting a 0.5% increase in revenue for the first nine months of the year, and Nexi, up 1.5% following a strong performance in its nine-month report. Diasorin also saw positive momentum, up 1.2% after Morgan Stanley upgraded the company’s stock rating.

However, several companies weighed on the market, including Iveco Group, which lost 5.3% despite reporting a strong third quarter. Anima Holding dropped 1.1% after recent gains related to a takeover bid by Banco BPM, and Safilo Group fell 3.7% following a report of lower revenues.

The day’s economic calendar features Italian industrial production data at 1000 CET, followed by the EU leaders’ summit and retail sales data an hour later. Later in the afternoon, the Michigan confidence survey and Baker Hughes drilling rig numbers will be released.

Several companies, including Piaggio, Recordati, Sanlorenzo, and Avio, are expected to release their financial reports on Friday.

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