Europe Expected to Open Higher After Trump’s Remarks

(Alliance News) - On Thursday, major European indices are expected to open in positive territory, according to IG futures, after US President Donald Trump, speaking at the Davos economic forum, abandoned plans to impose tariffs on several European countries and ruled out the use of military force to acquire Greenland.

Subsequently, NATO Secretary General Mark Rutte stated that there is still much work to be done regarding Greenland, after Trump announced on Wednesday evening a framework agreement aimed at easing tensions following talks with Rutte.

On the macroeconomic front, Japan recorded a smaller trade surplus in December. Data also show that Japan posted a trade deficit for the fifth consecutive year in 2025, although the shortfall narrowed to JPY2.651 billion from JPY5.628 billion in 2024.

The FTSE Mib is indicated up by 1.1% or 462.5 points after closing Wednesday down 0.5% at 44,488.36 points.

In Europe, London’s FTSE 100 is seen rising by 0.6% or 63.1 points, Paris’s CAC 40 is indicated up 0.8% or 64.0 points, and Frankfurt’s DAX 40 is forecast to open 0.9% higher or by 211.5 points.

In Milan last night, the Mid-Cap gained 0.4% to 60,363.60, the Small-Cap slipped fractionally to 37,234.12, and Italy Growth declined 0.3% to 8,737.23.

On Wednesday, during the FTSE Mib’s fourth consecutive negative session, Fincantieri weighed down the index with the largest drop, falling 3.8% to EUR18.44, alongside Hera, down 3.3% to EUR4.0740 per share.

Analysts are not betting on a merger between Fincantieri and Leonardo, which dropped 1.2%. Banca Akros and Equita highlight that both companies have already streamlined their respective operations and do not see significant industrial synergies.

Hera’s preliminary 2025 results indicate EBITDA above EUR1.53 billion and net profit for shareholders exceeding EUR460 million, up 4%, with a net debt to EBITDA ratio below 2.6 times.

In light of these figures, the expected dividend for 2025 is EUR0.16 per share, up 6.7% from 2024 and above previous plan forecasts.

Leading the main basket were Tenaris, up 3.4% to EUR18.71, and STM, up 3.3% to EUR34.235 per share.

Terna − down 1.6% − reported that in 2025, Italian electricity consumption totaled 311.3 TWh, a figure essentially unchanged from 2024. Last year, renewables covered 41% of demand, compared to 42% in 2024.

Moncler announced a generational transition at the top, with Remo Ruffini stepping down as CEO while retaining the roles of Executive Chairman and Creative Director, and Bartolomeo Rongone being appointed as new Group CEO starting April 1, 2026. The stock slipped 0.2%.

Banca BPM saw a 0.3% decline after changes to its bylaws. Crédit Agricole currently holds two board seats and aims to increase its influence. BPM CEO Giuseppe Castagna, seeking reappointment alongside chairman Massimo Tononi, is working on a shared list with the French, who are asking for 4–5 seats, while the possibility of a separate Agricole list remains open.

On the Mid-Cap, Alerion Clean Power − flat at EUR17.80 − announced that the Central Bank of Ireland has approved the prospectus for the public offering of bonds resulting from the "Alerion Clean Power Spa Up to EUR300,000,000 Senior Unsecured Fixed Rate Notes due 2032" bond issue.

Intesa Sanpaolo continues coverage on Avio, down 0.3%, confirming a ‘buy’ recommendation and a target price of EUR49.50, compared to a market price of EUR38.80 as of January 20. The price target implies a potential upside of over 28%.

Tamburi Investment Partners, up 1.4%, announced that its subsidiary Investindesign – which holds about 48.6% of Dexelance, up 1.5% – has decided to introduce a new conventional withdrawal window in its bylaws, in addition to the existing one, exercisable after approval of Investindesign’s financial statements as of December 31, 2025.

MARR, up 1.6%, finalized the acquisition of 100% of Bergel+, a Lombardy-based company with over EUR25 million in revenues in 2025, for approximately EUR4.7 million.

Webuild, up 0.4%, reported that its subsidiary Lane, in a 50-50 joint venture with Superior Construction, has signed contracts worth USD643 million for the construction of the Westshore Interchange, the largest infrastructure project of the Florida Department of Transportation in the Tampa Bay area.

MAIRE, up 0.2%, has entered the global liquefied natural gas market. Its subsidiary Tecnimont has signed a preliminary agreement with Argent LNG, LLC to participate in developing an LNG export complex in Port Fourchon, Louisiana, a strategic US energy hub.

Ferretti saw purchases for 3.4%, while Credem lost 2.0%.

On the Small-Cap, Borgosesia noted the year’s performance, marking a strong acceleration in the transition toward the Alternative Asset Manager model, also thanks to the acquisition of 100% of OneOSix. The stock declined 0.4%.

For OPS eCom, down 4.4%, the second tranche of the convertible bond issued last November 26, 2025 and fully subscribed by Global Capital Investments Ud has been converted. The conversion involved 50 bonds for a total nominal value of EUR500,000.

Zest, up 1.1%, announced that Alessandra Ricci has resigned from the board of directors and as chair of the Risk Control and Sustainability Committee. The independent director’s resignation is due to new professional commitments.

Met.Extra Group closed with double-digit gains, up 11% to EUR1.78 per share.

Among SMEs, Novamarine, up 3.1%, announced it has signed a partnership agreement with PrivatSea for the marketing and sale of the company’s boats in Greece, today a hub of one of Europe’s most prestigious nautical markets.

DBA Group, flat at EUR3.99, has joined the Venice Sustainability Foundation as a supporting member.

Circle, down 1.2%, signed an agreement with a leading Italian logistics operator to launch a structured project for the digitalization of terminal operations and logistics-document flows, lasting nine months, aimed at advancing the company’s digitalization process by providing the evolution of MILOS platforms. The total value of the agreement, based on the current contract perimeter, exceeds EUR300,000.

In New York on Wednesday, the Dow Jones gained 1.2%, as did the Nasdaq and the S&P 500.

In Asia, the Nikkei closed up 1.7%, the Shanghai Composite rose 0.1%, while the Hang Seng is fractionally lower.

On the currency front, the euro is trading at USD1.1687 from USD1.1697 at Wednesday’s European equity close, while the pound is trading at USD1.3428 from USD1.3421 Wednesday evening.

Among commodities, Brent is trading at USD65.07 per barrel from USD64.90 per barrel on Wednesday, while gold is valued at USD4,834.64 an ounce from USD4,837.81 an ounce last night.

On Thursday’s economic calendar, at 1200 CET the German Buba monthly report is due, while at 1430 CET US GDP data will be released, followed by unemployment figures.

The Fed’s balance sheet is expected at 2230 CET.

At Piazza Affari, Grifal’s results are expected.

By Antonio Di Giorgio, Alliance News Reporter

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