(Alliance News) - The FTSE MIB is trading in positive territory during a session characterized by fragile but non-directional risk sentiment, as European markets adopt a wait-and-see approach.
The primary support for market tone stems from a combination of diverging macro factors. On one hand, the repricing of interest rate expectations in the Eurozone sees the money market now discounting an over 78% probability of a first ECB hike in June, consistent with Lagarde's message regarding a readiness to act swiftly.
On the other hand, the deterioration of the geopolitical risk premium linked to tensions in the Middle East, particularly along the Iran-Strait of Hormuz axis, continues to maintain high sensitivity within the energy market.
The upward movement in oil introduces a short-term inflationary component that complicates the trade-off for the ECB, though it has not yet triggered aggressive repricing of European risk assets.
Consequently, the MIB is marking a 0.1% gain at EUR49,360.97 points, the Mid-Cap is shedding 0.1% to 60,044.21 points, the Small-Cap is advancing above par at 35,163.99 points, while Italy Growth remains flat at 8,900.79 points.
The CAC 40 is down 0.7%, the DAX 40 is retreating by 0.3%, while the FTSE 100 is advancing by 0.1%.
On the MIB at Piazza Affari, Saipem is making good progress, rising 2.5% after three sessions ending among the laggards.
DiaSorin - leading the pack with a 6.0% gain - announced on Friday that it purchased 331,134 of its own ordinary shares between May 4 and May 8. The shares were acquired at an average unit price of EUR61.79, for a total consideration of EUR20.5 million.
Tenaris - up 0.3% - announced over the weekend that it has entered into a definitive agreement to acquire 100% of the share capital of Artrom Steel Tubes SA for EUR86 million, net of cash and debt, including a normalized level of working capital. The company was acquired from U.S.-based GLGH Steel, LLC, with closing expected in the fourth quarter of 2026.
Brunello Cucinelli, meanwhile, is shedding 0.9% to EUR84.36 per share. The stock is undergoing a period of weakness following the rally that pushed it to all-time highs in February 2025, but according to Evaluation.it, its theoretical value remains at EUR103.6 per share. In an analysis by Claudio Guerrini, the Umbrian luxury group presents a lower-than-average market risk thanks to its geographical business diversification, despite underperforming the FTSE MIB over the last three years.
On the Mid-Cap, Sanlorenzo is well-positioned, advancing 7.9% and aiming for its fourth consecutive session in the green.
Brembo is up 0.4% at EUR10.63 per share. Berenberg confirmed its 'buy' recommendation on the stock, raising the target price to EUR10.20 from EUR9.50, compared to a price of EUR9.86 on May 7, following better-than-expected Q1 2026 results and an upward revision of annual guidance.
Analysts led by Giovanni Selvetti explained that 'after a difficult couple of months, Q1 results should provide some relief to investors,' thanks to an 'above-expectations' operating performance and the start of production for Sensify, the group's new intelligent braking system.
Technogym is advancing 0.5% to EUR21.56 per share. Notably, the target price for Technogym has been raised to EUR21.50 from EUR18.50.
Piaggio - up 1.3% - announced on Friday that it closed the first quarter with a net profit of EUR5.3 million, down from EUR8.7 million as of March 31, 2025. Consolidated revenues for the quarter stood at EUR341.7 million compared to EUR370.7 million in Q1 2025. The gross industrial margin was EUR107.9 million, down from EUR113.2 million.
Webuild - down 0.4% - announced on Friday the successful completion of the liability management operation launched in April, strengthening its debt structure and confirming strong international investor interest in the group. The operation involved the placement of a new bond maturing in May 2032 for EUR500 million and the simultaneous repurchase of bonds maturing in 2027 for EUR121 million through a Tender Offer, representing approximately half of the outstanding nominal value.
Anima Holding - down 0.4% - reported on Friday that it closed the month of April with net inflows of assets under management, excluding branch I insurance mandates, positive at EUR160 million, primarily supported by the institutional segment and the launch of a new Castello SGR fund. Since the beginning of the year, however, net inflows remain negative at EUR5.68 billion.
On the Small-Cap, Softlab is advancing 7.6% to EUR1.20 per share, following a 4.7% decline on Friday evening.
Tesmec - up 3.9% - reported its results as of March 31 on Friday, highlighting a return to profit of EUR1.1 million from a loss of EUR1.4 million recorded in the same period of 2025. First-quarter revenues were EUR65.9 million, up 7.4% from EUR61.4 million as of March 31, 2025.
The board of Banca Profilo - down 0.6% - announced on Thursday evening that it closed the first quarter of 2026 with a consolidated net profit of EUR400,000, down from EUR2.2 million in the same period of 2025, in a context marked by the reorganization of Private Banking. The group nevertheless confirms a solid capital and liquidity position, with a CET1 ratio of 26.2% and an LCR of 430%, among the highest levels in the market.
Triboo, meanwhile, is shedding 5.7% to EUR0.35 per share, after two bullish sessions.
Among SMEs, selling pressure is hitting Datrix, which is down 4.5% at EUR1.68 per share after a 2.3% gain in the previous session.
Next Geosolutions - down 0.4% - announced on Monday the award of a new contract with a leading international client in the subsea power cable sector, as part of a project related to subsea energy infrastructure located in the central Mediterranean. The total value of the contract, developed in two different phases, reaches approximately EUR10.0 million.
Lemon Sistemi - up 4.9% - announced on Monday that it has been appointed by Acea Solar Srl as the EPC contractor for the executive design and construction of a photovoltaic plant in the municipality of Mazara del Vallo, Sicily. The contract value is approximately EUR4.5 million and is part of a total 38 MWp RDO divided into three lots across Sicily and Sardinia.
The board of AAtech - up 0.6% - announced over the weekend that it has signed a 60-day exclusivity agreement with Crescitalia Servizi Imprese Spa, aimed at initiating negotiations for a possible strategic, industrial, commercial, and technological integration between AAtech and CrescItalia in the sectors of financial services, credit servicing, and fintech solutions dedicated to the real economy, within AAtech.
In New York on Friday evening, the Dow closed slightly above par, the Nasdaq was up 1.7%, while the S&P 500 gained 0.8%.
Among Asian markets, the Nikkei closed down 0.5%, the Shanghai Composite advanced 1.1%, while the Hang Seng is set to close slightly above par.
On the currency front, the euro is trading at USD1.1769 from USD1.1772 on Friday evening, while the pound is trading at USD1.3600 from USD1.3624 on Friday evening.
Among commodities, Brent is trading at USD104.86 per barrel from USD101.80 per barrel on Friday evening, while gold is valued at USD4,668.47 per ounce from USD4,708.84 per ounce on Friday evening.
On Monday's economic calendar, the house price report will be released in the U.S. at 1500 CEST.
At Piazza Affari, quarterly results are expected from several companies, including MPS, Fincantieri, and Mediobanca.
By Maurizio Carta, Alliance News reporter
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