European markets down; utilities weigh on Mib, Cucinelli performs well

(Alliance News) - On Wednesday, the main European markets ended trading in negative territory once again, following the momentum of the previous day and ahead of the FOMC interest rate decisions, followed by the traditional press conference by Fed Chair Jerome Powell.

On the geopolitical front, attention and tension remain high in the Middle East, where several US-Israeli strikes hit Iranian facilities in a major Gulf gas field, causing a fire.

On the macroeconomic side, Eurozone inflation recorded an acceleration in February.

Consumer prices in the euro area rose by 1.9% year-on-year after rising 1.7% the previous month. The figure confirms Eurostat preliminary estimates. In February 2025, inflation stood at 2.3%.

In the US, mortgage applications fell by 11% as rates increased to 6.3%.

In this context, the Mib closed down 0.3% at 44,741.34, the Mid-Cap in the green by 0.2% at 53,546.64, the Small-Cap up 0.6% at 32,761.95, and the Italia Growth up 0.5% at 8,368.29 points.

Other European markets also closed in the red: London FTSE 100 by 0.9%, Paris CAC 40 by 0.1%, and Frankfurt DAX 40 by 0.9%.

In Piazza Affari, Intesa Sanpaolo - with daily gains of 0.8% - announced that its IMI Corporate & Investment Banking Division participated, along with a pool of international and national banks, in a new Term Loan-ESG Linked credit line worth EUR600 million for Leonardo, which closed up 1.5%.

Regarding banking consolidation, adjustments to UniCredit offer - which fell 0.4% - for Germany Commerzbank are not ruled out. In the background, the European Commission is studying a package of rules to limit the use of Golden Power by governments that, in practice, oppose the single market.

Eni announced that it has taken Final Investment Decisions for the Gendalo and Gandang gas projects and for the Geng North and Gehem fields, just eighteen months after the approval of the Development Plans in 2024. The stock fell 1.2% to EUR23.070 per share.

Terna, which recorded a 1.5% decline, reported a new increase in national electricity demand in February: "With 25.4 billion kWh, there was a 2.1% increase compared to the same month last year". Wind production is the main source of coverage for the demand, with 2.8 billion kWh.

STM, with a daily decline of 0.4%, announced a collaboration with Nvidia for the development of sensors in robotics through three distinct projects.

As investors begin to bet on the end of the war in the Middle East, luxury stocks, which had already shown an increase at the end of 2025, regained momentum. Confirming the trend is the bullish performance of Brunello Cucinelli, at the top of the Mib with 4.2% at EUR75.86 per share.

The utility group moved at the bottom with declines for Hera and Enel at 3.5% and 3.4%, while Italgas and A2A fell by 2.7% and 1.8% respectively.

On the Mid-Cap, Ascopiave - in the red by 1.4% at the end of the session - presents a solid growth profile in light of the 2025 results and the update of the industrial plan to 2029, with an improvement in estimates reflecting above all the contribution of M&A operations and a broader regulated base.

Brembo - which recorded an 8.2% contraction - closed 2025 with a net profit of EUR209.3 million, down from EUR262.6 million the previous year. The board of directors will also propose the distribution of a dividend of EUR0.30 per share, the same as last year.

MFE-MediaForEurope announced, through the words of Group CEO Pier Silvio Berlusconi, a preliminary estimate of the main indicators of the 2025 consolidated financial statements, highlighting an exercise defined as "extraordinary", with a net profit more than doubled compared to the EUR137.9 million recorded in the previous year. Class A and Class B shares were positively affected by 2.2% and 1.1%.

Rai Way, together with Rai - Radio Televisione Italiana, presented the Hyperscale Data Center project that Rai Way will build in Pomezia, near Rome. The stock closed in the green by 1.4%.

PharmaNutra, following solid results for the 2025 financial year, closed at the top with a gain of 10% at EUR74.80 per share. Acea, on the other hand, hit the bottom of the basket with an 11% drop to EUR22.00 per share.

On the Small-Cap, Mondo TV, which ended trading up 4.7%, signed a new agreement with the Albanian company Multimedia Entertainment for the renewal of the distribution of some titles from its catalog of animated series in the territory of Albania.

Alantra initiated a positive review on Eurotech, raising the recommendation to "buy" from "hold" and increasing the target price to EUR1.25 from EUR0.90, based on improved operational execution and potential for stock revaluation, with an indicated upside of 31%. The stock gained 3.4%.

Marked selling on The Italian Sea Group, which hit a 52-week low, down 30% at EUR0.736 per share. Revo Insurance, soon to move to the Mid-Cap Index, instead saw gains of 4.9%.

Among SMEs, Recupero Etico Sostenibile - with a daily decline of 1.7% - acquired a business branch including a plant for the production of organic chemicals - biobased and biodegradable plastic materials - located in Termoli, for a fixed consideration of EUR2.7 million.

STAR7 announced on Wednesday that it closed 2025 with a net profit of EUR3.2 million, down from EUR3.7 million in 2024. Adjusted net profit, however, increased to EUR8.5 million from EUR8.2 million in the previous year. The stock closed flat at EUR8.35 per share.

Next Geosolutions Europe - which rose 3.4% - signed a financing agreement with Intesa Sanpaolo and Cassa Depositi e Prestiti to support the purchase of the new offshore naval unit "NG Supporter", for a total investment of USD112 million.

SG Co approved the group 2026-2030 industrial plan, "based on both organic growth and development through external lines via M&A operations, with selective investments in the national and foreign territory". The stock gained 1.2%.

In New York, the Dow Jones is in the red by 0.4%, the S&P500 is down 0.6%, as is the Nasdaq.

On the currency front, the euro is trading at USD1.1515 from USD1.1529 on Tuesday evening, while the pound is trading at USD1.3331 from USD1.3347 yesterday evening.

Among commodities, Brent is trading at USD108.44 per barrel from USD101.55 per barrel yesterday, while gold is worth USD4,875.55 an ounce from USD5,002.53 an ounce yesterday evening.

On Thursday economic calendar, UK unemployment data are expected at 0800 CET, while at 1300 CET, also in the UK, the interest rate decision will be announced.

At 1300 CET, focus shifts to US construction and at 1330 CET to the labor market with unemployment claims.

At 1500 CET, also in the US, data on new home sales and trade sales will arrive.

In Piazza Affari, results are expected from Enel, Mondadori, Recordati, and 11 other companies.

By Michele Cirulli, Alliance News reporter

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