(Alliance News) - European stock markets are set for a positive open on Thursday, recovering part of the previous session's losses thanks to an improvement in investor sentiment.
Traders reacted to the widely anticipated decision by the U.S. Federal Reserve to keep rates unchanged and to mixed results from major technology companies.
The ECB also expressed concerns over the sharp appreciation of the euro, warning that it could impact inflation and monetary policy.
Market participants will closely monitor Eurozone economic sentiment data, retail sales in Spain, and industrial production in Italy.
Thus, the Mib – after closing yesterday's session down 0.7% at 45,138.73 – is currently showing a gain of 212.50 points.
Among other European indices, the CAC 40 is up by 35.20 points, the DAX 40 is trading flat, and the FTSE 100 is advancing by 16.70 points.
In the smaller segments, last night the Mid-Cap closed down 0.1% at 60,565.05, the Small-Cap fell 0.3% to 37,226.99, and Italy Growth slipped 0.1% to 8,835.97 points.
Among stocks on Piazza Affari, in an extraordinary session, the ordinary shareholders' meeting of TIM – up 1.6% at EUR0.5892 – approved, with 99.87% of votes in favor, the optional conversion of savings shares into ordinary shares, at a ratio of 1 ordinary share for each savings share held, accompanied by a cash adjustment of EUR0.12.
On the banking front, BPER Banca – down 1.6% – and Banca Popolare di Sondrio – down 2.1% – announced that the European Central Bank has granted authorization for the merger of the two institutions.
Tense anticipation surrounds the board meeting of Monte dei Paschi di Siena, which fell 1.3%, as it faces two key issues: the Consob regulation on the new board's list and the compensation for Mediobanca chairman Vittorio Grilli. Mediobanca's proposal – down 0.8% – for Grilli, up to EUR2.1 million per year, is unlikely to be fully approved by MPS.
Assicurazioni Generali – up 1.5% – will launch a share buyback program for the group's Long-Term Incentive Plan through 2027. The buyback has been authorized for up to 7.2 million shares for a total of EUR280 million.
Saipem and STMicroelectronics performed well, up 1.5% and 2.2% respectively. Luxury stocks saw selling, with Moncler and Brunello Cucinelli down 3.0% and 2.2% respectively.
On the Mid-Cap, Alerion Clean Power – down 0.7% – announced Wednesday that the public subscription offer for green bonds has opened for a total amount of EUR200 million, and it will exercise the option to increase by EUR100 million.
JPMorgan maintains a 'neutral' rating on Salvatore Ferragamo, with a target price of EUR7.50, after the release of FY2025 results that were broadly in line with the bank's expectations. Despite some encouraging signs in Retail, the overall picture is balanced by persistent challenges in the Wholesale channel and an operational context still in transition. The stock closed down 5.8%.
Interpump, which hit a 52-week high, closed at the top with a 5.7% gain at EUR48.52 per share. Caltagirone also performed well, up 2.5% at EUR10.25 per share.
On the Small-Cap, Aedes, with trading suspended by Borsa Italiana, has set the final terms for its rights issue up to a maximum of EUR5 million. The board approved the issuance of up to 96.0 million new ordinary shares.
Mondo TV – up 8.6% – has signed a non-binding Memorandum of Understanding with Canadian investor Hemlock West to explore a possible EUR300,000 capital investment and to initiate an industrial collaboration.
Generalfinance, up 0.8%, and Net Capital announced the completion of a factoring operation on POS flows in favor of Arcadia Fashion, the company managing the Conbipel clothing brand.
Borgosesia, down 0.7%, has increased the total amount of its "Borgosesia 6.30%" bond issue to EUR65 million. The board of directors approved the increase due to strong demand.
Eurotech has approved a capital increase for nearly 21 million new shares and an industrial plan that foresees an initial phase of stabilization and moderate revenue growth in 2026 and 2027, with a return to positive Ebitda as early as 2026. The stock closed down 8.0% at EUR0.92 per share.
Among SMEs, Circle – up 1.6% – has launched a new project with a leading European player, worth over EUR1.5 million and lasting about twelve months, aimed at the digital transformation of strategically important inland terminals in Southern Europe.
High Quality Food – down 0.3% – has signed a binding preliminary agreement to purchase its future new Rome headquarters as part of its investment plan. Upon signing the agreement, the company paid EUR530,000 as a deposit. The total purchase price for the property is EUR5.3 million.
Industrie Chimiche Forestali – down 2.3% – released preliminary results for FY2025, reporting revenues of EUR72.5 million, down from EUR75.2 million in 2024. Ebitda rose to EUR9.5 million, compared to EUR8.9 million the previous year.
UCapital24, down 3.2% on the day, has appointed Andrea Minto as independent director. Minto, a full professor of financial markets law, will replace Erika Gabrielli, who resigned last July.
In New York, the Dow Jones closed flat, as did the S&P 500, while the Nasdaq gained 0.2%.
Among Asian markets, the Nikkei closed just above flat, the Hang Seng advanced 0.4%, while the Shanghai Composite gained 0.2%.
On the currency front, the euro is trading at USD1.1985 from USD1.1933 at Wednesday's European equity close, while the pound is at USD1.3837 from USD1.3775 last night.
Among commodities, Brent is trading at USD69.39 per barrel from USD68.10 per barrel on Wednesday, while gold is valued at USD5,555.21 per ounce from USD5,285.10 per ounce last night.
On Thursday's economic calendar, Italian industrial sales data is due at 1100 CET, followed by the 10-year and 5-year BTP auction at 1110 CET.
At 1430 CET in the U.S., initial jobless claims will be released, followed by trade balance and import-export reports.
At 2230 CET, the Federal Reserve's balance sheet will be published.
On Piazza Affari, results are expected from Brembo, Safilo, and STM.
By Maurizio Carta, Alliance News Reporter
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