Cautious but Upward Markets; Mib Rebounds from 46,200

(Alliance News) - European stock markets are set for a cautious but upward opening on Friday, while global tech stocks have come under renewed pressure due to mounting concerns about the sustainability of AI investments, with the Nasdaq dropping 2.0% last night.

The growing perception of potential AI-induced shocks has also impacted strategic sectors such as logistics, commercial real estate, and financials, prompting investors to reassess portfolio positioning and risks.

The Mib, after closing down 0.6% at 46,222.95 points last night, is currently losing 145.00 points.

The CAC 40—the only index in the red—is down by 13.50 points, while the DAX 40 is up by 68.00 points and the FTSE 100 shows a gain of 37.80 points.

Among the minor indexes on Thursday, the Mid-Cap fell 0.4% to 60,271.63, the Small-Cap closed down 0.4% at 36,301.89, and Italy Growth ended fractionally higher at 8,719.52 points.

Among yesterday's standouts on Piazza Affari was Fincantieri. CEO Pierroberto Folgiero outlined on Thursday a picture of industrial expansion based on technological competitiveness, business integration, and strengthening international presence, indicating that the group aims to consolidate its leadership in complex shipbuilding while expanding into more innovative activities.

The company indicated that net profit will not be less than EUR110 million, achieving this milestone a year ahead of schedule, with positive results also in deleveraging. The stock rose 2.9% to EUR16.50 per share.

The board of Iveco Group—down 0.4%—approved the 2025 accounts, which close with an adjusted net profit of EUR312 million, down from EUR520 million in 2024, with adjusted diluted earnings per share at EUR1.16 compared to EUR1.91 in the previous year.

According to Bloomberg, Stellantis—up 3.4%—is considering exiting the American battery joint venture StarPlus Energy with Samsung SDI, as part of a strategy to reduce exposure to electric vehicles and safeguard liquidity following write-downs exceeding EUR22 billion.

Buzzi closed down 8.9% at EUR46.44 per share, while Ferrari gained 1.9%, alongside positive performances from Brunello Cucinelli up 4.5% and Inwit up 2.5%.

On the Mid-Cap, the board of Arnoldo Mondadori Editore approved the main consolidated preliminary figures for 2025, not yet audited, as well as the 2026 guidelines presented by CEO Antonio Porro.

The group ended 2025 with revenues of EUR931.5 million, down 0.3% from EUR934.7 million in 2024. The stock lost 2.1%.

Ascopiave—up 3.0%—approved the 2026-2029 strategic plan, a path which—the company explains—aims for sustainable growth leveraging both ongoing investments and the possible acquisition of new gas distribution concessions, while maintaining financial balance and a dividend policy described as rewarding and progressively increasing.

Carel Industries gained 8.2%, while ERG fell 4.6%.

Deutsche Bank Research confirmed its 'buy' recommendation on Banca Generali—up 0.8%—and set a target price of EUR66.00, compared to a February 11 close at EUR53.60, following fourth-quarter results deemed in line with operational expectations despite market volatility.

On the Small-Cap, the board of Gefran—down 0.5%—released consolidated results as of December 31, 2025, reporting revenues of EUR139 million, up 4.8% from EUR132.6 million the previous year.

This increase includes the contribution from the acquisition of CZ Elettronica, consolidated since last April for a total value of EUR1.6 million.

BasicNet—in the red by 2.2%—announced preliminary results as of December 31, 2025, with consolidated turnover of EUR415.8 million, up 1.6% from EUR409.2 million in the previous year.

Immsi—up 1.5%—reported that its subsidiary Intermarine Spa has begun developing an innovative autonomous surface vehicle for the Navy, designed with high modular capabilities to integrate various systems and sensors.

Softlab—down 0.4%—signed the preliminary contract for the acquisition of the Consulting and Facility Management business units of Synthesis3.

Tesmec, which during the session hit a 52-week high at EUR0.2090, closed up 5.4%, while OPS Retail ended down 19%.

Among SMEs, First Capital—down 1.5%—reported that as of December 31, 2025, total Net Asset Value reached EUR106.7 million, surpassing the EUR100 million threshold for the first time.

ESI—up 1.1%—secured financing from Banca Italiana per l'Ambiente e l'Energia for the construction and commissioning of a proprietary 1.65 MW photovoltaic plant in Nettuno, developed through the recently acquired vehicle company ED Solar 2.

iVision Tech—up 4.8%—closed MIDO 2026 with results exceeding expectations, recording a 175% increase in orders over the three days of the event compared to the previous edition, and entering four new countries through distribution agreements.

Circle announced it had signed a contract with a leading Italian logistics and transport company worth about EUR120,000. The stock closed flat at EUR9.24 per share.

TMP Group—down 11%—announced a new partnership with Songu Europe for the design and creation of exhibition spaces for major industry fairs in Italy and across the continent.

In New York—during the European evening—the Dow lost 1.3%, the Nasdaq dropped 2.0%, while the S&P 500 closed down 1.6%.

In Asia, the Nikkei fell 1.2%, the Hang Seng is down 1.6%, while the Shanghai Composite dropped 1.3%.

On the currency front, the euro is trading at USD1.1849 from USD1.1866 at Thursday's European stock close, while the pound is at USD1.3590 from USD1.3624 last night.

Among commodities, Brent is trading at USD67.44 per barrel from USD67.95 per barrel last night, while gold is valued at USD4,957.54 an ounce from USD4,936.17 an ounce last night.

On Friday's economic calendar, at 1300 CET in the UK, a speech is expected from Pill of the Monetary Policy Committee.

At 1430 CET, in the USA, attention turns to the consumer price index, while at 1900 CET Baker Hughes data on the total number of drilling rigs is due.

On Piazza Affari, results are expected from Intempump, Sanlorenzo, and three other companies.

By Maurizio Carta, Alliance News Reporter

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