Bullish Futures for the First Trading Session of 2026

(Alliance News) - European stock markets are set to open higher on Friday, the first trading day of 2026, after closing out a year marked by significant gains. Liquidity may be reduced due to New Year's holidays.

Investors continue to seek new catalysts, with attention focused on the outlook for U.S. interest rates, while geopolitical developments remain in the background.

Markets are also awaiting a series of economic data releases, including manufacturing PMIs for the eurozone, UK, France, Germany, and Italy, as well as eurozone money supply figures.

In this context, the Mib — after closing up 1.1% at 44,944.54 points on Tuesday evening — is showing a gain of 127.30 points in futures trading.

Among the secondary indices, the Mid-Cap rose 0.3% to 58,841.21, the Small-Cap increased by 0.6% to 36,871.04, and Italy Growth closed up 0.9% at 8,625.00 points on Tuesday.

London's FTSE 100 is up 6.20 points, Paris' CAC 40 is up 14.90 points, while Frankfurt's DAX 40 is showing a slight increase of 4.4 points.

At Piazza Affari, banks led the charge in the final session of 2025. Mediobanca gained 2.1%, Monte dei Paschi di Siena 2.6%, Banca Popolare di Sondrio 1.9%, and UniCredit 2.3%.

The European Central Bank's supervisory authority is ready to authorize the new statute of Banca Monte dei Paschi di Siena, amended during a lightning board meeting on December 24 to remove the "principle of residuality," which had been contested by Frankfurt.

Fincantieri — up 0.9% — reported that, through its subsidiary WASS Submarine Systems, a leader in the design and development of advanced underwater defense systems, it has secured a major EUR200 million order from the Indian Navy for the supply of Black Shark Advanced heavy torpedoes, destined for the six Scorpène-class submarines in service with the Indian fleet.

Inwit — up 0.3% — is opening dialogue on Master Service Agreements, but only regarding the terms for new investments.

This was clarified by general manager Diego Galli: there will be no reopening of the agreements that established the Italian tower model, but there is a willingness for greater flexibility to facilitate new construction sites.

Intesa Sanpaolo, up 1.4%, through its IMI Corporate & Investment Banking division led by Mauro Micillo, has strengthened its role as a leading financial partner in the Middle East.

Since 2023, the division has participated, together with other banks, in transactions exceeding EUR60 billion, of which more than EUR30 billion as mandated lead arranger in financings and EUR30 billion as bookrunner in bond issues, in addition to advisory and interest rate hedging activities.

The stocks that ended the year in negative territory were Moncler, down 0.5%, and Ferrari, down 0.1%.

On the Mid-Cap, Webuild, as part of a consortium, secured a contract worth approximately EUR660 million for the construction of the first section of Lot 1 of Naples' new Metro Line 10. The project is part of a broader infrastructure plan, with total investments estimated at over EUR3.1 billion, aimed at enhancing mobility in the city's northeastern area. The stock rose 2.1% to EUR3.442 per share.

Edil San Felice — flat at EUR5.00 — received a new order from Avio — up 1.0% — worth around EUR3 million for construction and plant engineering work at a facility located at Avio's Colleferro site in Rome.

MAIRE announced that its subsidiaries in the Integrated E&C Solutions business unit have been awarded additional work related to previously announced orders and new contracts for a total amount of approximately EUR700 million. The stock rose 0.5%.

The closing of the Sesa and TeamSystem deal is expected in January 2026: an operation that, according to the company, could impact net profit and net financial position by more than EUR8.0 million. Sesa's stock gained 0.1%.

At Tinexta, the board of directors has changed and the company is moving towards delisting following a takeover bid that Zinc BidCo will launch after acquiring a 39% stake in Tinexta's share capital and 33% of the related voting rights at a price of EUR15.00 per share, pursuant to the sale agreement signed with Tecno Holding Spa last August 5. The stock closed down 0.1%.

On the Small-Cap, OPS Italia — up 1.3% — announced it has completed the sale, for the symbolic value of EUR1 per company, of all its holdings in EEMS CHINA and EEMS Renewables.

The extraordinary shareholders' meeting of OPS eCom — up 4.4% — approved a capital increase of up to EUR3 million, excluding pre-emptive rights, reserved for creditors and to be subscribed by June 30, 2026 through debt offsetting.

The meeting also authorized the board of directors to increase capital by up to an additional EUR6 million, again excluding pre-emptive rights, to be executed in one or more tranches within 12 months and reserved for creditors.

Mare Engineering Group and Borgosesia — down 0.7% — announced the completion of a EUR7.5 million capital increase for EasyGo, a search fund dedicated to the acquisition and industrial relaunch of Italian SMEs undergoing generational transitions and managerial discontinuity.

Aeffe rebounded to the top with a double-digit gain, up 15% to EUR0.337 per share.

Among SMEs, Mare Group — up 0.5% — requested that Eles — up 0.6% — add an item to the agenda of the ordinary shareholders' meeting scheduled for January 7, 2026 on first call and January 8 on second call.

The request concerns the inclusion of an item relating to the appointment of independent directors, in the event that the independent director co-opted by the board on September 30 is not confirmed.

Farmacosmo — up 7.3% — has signed an agreement to sell 50% of Baubau to Pet Being.

The valuation of Baubau was set at EUR10 million, and the consideration for the purchase of 55% of the capital amounts to EUR4.4 million, of which EUR4 million to Farmacosmo, plus an earn-out of up to EUR1.1 million linked to the achievement of 2026 Ebitda targets, in addition to positive net cash.

ICOP — down 1.1% — is participating in the construction of Lot 1 of the new Line 10 of the Naples Metro, with a share of EUR16 million.

Metriks AI — up 2.6% — has completed the acquisition of the remaining 40% of FCONN's share capital, thus bringing its stake to 100%. The acquisition of the remaining 40% of FCONN involves a total consideration of EUR150,000.

Più Medical — up 3.3% — has executed a EUR5 million capital increase, fully subscribed by IPOC 9 Srl, a vehicle backed by Azimut Investments' IPO Club 2 fund and controlling shareholder GSM.

In New York, the Dow fell 0.6% in the last session, while the Nasdaq dropped 0.8%, as did the S&P 500.

In Asia — where Hong Kong is the only active market — the Hang Seng is up 2.4%.

On the currency front, the euro is trading at USD1.1744 from USD1.1761 at Tuesday's European equity close, while the pound is trading at USD1.3468 from USD1.3517 on Tuesday evening.

Among commodities, Brent crude is trading at USD61.28 a barrel from USD61.44 a barrel at Tuesday's close, while gold is valued at USD4,378.00 an ounce from USD4,366.68 an ounce on Tuesday evening.

On Friday's economic calendar, at 0945 CET in Italy the manufacturing report is released, followed by the French and Eurozone reports at 1000 CET.

At 1200 CET, Spanish car registration data is due, and at 1800 CET, Italian figures. At 2230 CET, the Fed's balance sheet will be released.

No significant announcements are expected at Piazza Affari.

By Maurizio Carta, Alliance News Reporter

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