(Alliance News) - Major European markets have started the session with strong momentum, particularly the MIB, which opened with significant gains. On the geopolitical front, uncertainty persists in the Middle East following Israeli strikes on Tehran, while the US remains ready to intervene and Trump has signaled a major announcement later today.

Among other developments, the Bank of Italy has returned to profit, fully restored its dividend, and contributed over EUR1.2 billion to the State. Governor Fabio Panetta's report marks a turning point for the institution's accounts, emerging strengthened from an extraordinary period.

In this context, the MIB opened up 2.8% at 45,533.12, the Mid-Cap rose 2.2% to 54,455.70, the Small-Cap gained 1.5% to 32,916.13, and Italy Growth edged up 0.8% to 8,348.66.

Elsewhere in Europe, the CAC 40 rose 2.2%, the DAX 40 climbed 2.7%, and the FTSE 100 advanced 1.7%.

On Piazza Affari, Buzzi rose 5.7% after its board approved 2025 results, closing with a profit of EUR924.1 million, a 2.0% decrease from the EUR942.5 million recorded in 2024. The board will propose a dividend of EUR0.70 per share, in line with the payout in May 2025.

Prysmian leads the blue-chip index, surging 5.7% to EUR104.40 per share.

"Alongside our organic strategy, the offer for Commerzbank expresses a broader ambition: Europe needs stronger and better-capitalized institutions," said UniCredit Chairman Pier Carlo Padoan, reiterating the commitment to constructive dialogue to foster European integration. The stock is trading up 5.3% at EUR64.04 per share.

Also in the banking sector, Monte dei Paschi - up 2.5% - defended the candidacies of Chairman Nicola Maione and Domenico Lombardi, head of the nominations committee, after proxy advisor ISS recommended a vote against them on Monday.

"The board list and candidates are the result of a structured, rigorous, and transparent selection process," the bank stated, adding that "the process was conducted with the support of independent advisors based on objective criteria, including a skills matrix and fit & proper requirements, and was evaluated at multiple levels."

Italgas - up 1.4% - announced on Wednesday that, following AGCM requirements for the acquisition of 2i Rete Gas, it has completed the sale of gas distribution assets in six Atem areas.

Specifically, Massa Carrara and Viterbo were sold to the ATI formed by Plures, Estra, and Centria; Padova 2 and Padova 3 to Ascopiave; Brescia 5 to GP Infrastrutture; and Roma 5 to Erogasmet, totaling 97,000 meters.

Leonardo DRS, the US subsidiary of Leonardo listed on Nasdaq, could reach USD55 per share. BofA Securities raised its target from USD50 while maintaining a "buy" rating, following a strategy update under CEO John Baylouny that aligns more closely with US Defense requirements. Leonardo shares are trading up 3.0%.

Campari, which announced the establishment of a "Euro Medium Term Note" bond program for a maximum amount of EUR2 billion aimed exclusively at institutional investors, saw its shares rise 0.9%.

Opening in negative territory were Eni, down 3.3%, Tenaris, down 1.3%, and Saipem and Amplifon, both down 0.1%.

On the Mid-Cap index, MAIRE was awarded an engineering contract in Indonesia, sending its shares up 2.5% to EUR13,62.

Webuild, trading up 3.9%, announced that its subsidiary Clough has secured a EUR116 million contract for the design and construction of "Kwinana Gas Power Generation 2," a 220 MW open-cycle gas plant in Kwinana, 40 kilometers south of Perth, for AGL Energy.

BFF Bank recovered some ground, rising 4.1% to EUR1.499 following news of the Bank of Italy's administration order, while Newprinces started in the red, shedding 5.1% to EUR19.74 per share.

On the Small-Cap index, the board of SS Lazio - up 1.3% - approved the consolidated half-year financial report to December 31, 2025, showing a loss of EUR20.4 million compared to a break-even result in the same period the previous year.

Caleffi - up 1.3% - approved its 2025 accounts, reporting a net profit of EUR1.8 million, up from EUR1.7 million in 2024.

The company's revenue rose to EUR61.1 million from EUR57.5 million the previous year, supported by growth in its main business segments.

BasicNet performed well, gaining 5.7% to EUR6.72 per share, while Gas Plus trailed the basket with a 4.7% decline.

Among SMEs, Tecno approved its accounts, showing a net profit of EUR800,000, down from EUR1.1 million in the 2024 pro-forma results. The stock rose 1.0%.

The board of Lucisano Group - down 1.8% - approved its accounts, reporting a net profit of EUR2.3 million, a slight decrease from the EUR2.5 million recorded in 2024.

Consolidated revenues and operating income stood at EUR50.9 million, substantially stable compared to the previous year.

STAR7 - which soared 42% - announced Wednesday that its reference shareholders, Dante Srl and STAR AG, signed an agreement with Argos Fund for the latter to acquire their entire 75% stake in the company. This will trigger a mandatory takeover bid and subsequent delisting.

The board of Mare Group - down 5.1% - approved its accounts, showing a net loss of EUR8.7 million, widening from the EUR300,000 loss recorded in 2024.

The board of Reway Group - which did not trade - approved its accounts on Tuesday evening, showing a profit of EUR21.6 million, up 21% from the previous year.

In New York, during the European evening, the Dow gained 2.5%, the Nasdaq advanced 3.8%, and the S&P 500 closed up 2.9%.

In Asian markets, the Nikkei closed up 5.3%, the Shanghai Composite ended the session 1.5% higher, and the Hang Seng grew 2.3%.

On the currency front, the euro is trading at USD1.1589 from USD1.1524 yesterday evening, while the pound is at USD1.3278 from USD1.3198 on Tuesday evening.

Among commodities, Brent crude is trading at USD99.87 per barrel from USD107.40 yesterday evening, while gold is valued at USD4,722.99 per ounce from USD4,610.63 yesterday evening.

On Wednesday's macroeconomic calendar, the UK manufacturing PMI will be released at 1030 CEST, followed by the Eurozone unemployment rate at 1100 CEST.

In the afternoon, the US MBA 30-year mortgage rate and mortgage applications are due at 1300 CEST. Retail sales will be released at 1430 CEST, followed by the manufacturing PMI at 1545 CEST.

The day continues at 1630 CEST with crude oil inventory data and the EIA weekly refined products report.

By Michele Cirulli, Alliance News reporter

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