European markets mixed and sluggish at the open

(Alliance News) - On Wednesday, European markets are trading mixed and generally weak, mirroring the previous session's opening performance. While the spotlight remains on the Middle East, EU President Ursula von der Leyen welcomed the agreement reached for the implementation of the Union's trade pact with the US, expressing hope that it closes a tumultuous chapter in transatlantic relations.

On the macroeconomic front, German producer prices rose by 1.7% year-on-year in April, recovering from a 0.2% decline in March and marking the first increase since February last year. Meanwhile, UK consumer price inflation came in below expectations last month, falling to 2.8% from 3.3%, despite a 'sharp rise in fuel prices'.

In this context, the MIB opened in fractional positive territory at 48,360.47 points, the Mid-Cap is up 0.4% at 60,129.77, the Small-Cap is up 0.3% at 34,124.56, and the Italia Growth is in the green by 0.3% at 8,830.93 points.

The CAC 40 is slightly up at 7,984 points, the DAX 40 is down 0.1%, and the FTSE 100 is shedding 0.4%.

On the MIB, STM leads the gainers with a 4.1% rise to EUR54.30 per share, while FinecoBank sits at the bottom of the basket with a 1.8% decline to EUR20.26 per share.

Leonardo - up 0.2% - has signed a contract with Abu Dhabi Ship Building, the naval division of the EDGE group, for the supply of next-generation naval combat systems in the Falaj 3 configuration, destined for the Kuwaiti Navy's 'Al Dorra' new vessel program. The contract has an estimated value of approximately EUR320 million.

DiaSorin - down 1.0% - has received 510(k) clearance from the US Food and Drug Administration for its LIAISON PLEX Gastrointestinal Flex test, a customizable syndromic panel capable of detecting 24 gastrointestinal pathogens.

Qivalis is expanding its network to 37 financial institutions across 15 countries with the addition of 25 new banks, including Intesa Sanpaolo and BPER Banca, the latter of which placed a EUR500 million perpetual bond yesterday. The project aims to develop a euro-pegged stablecoin compliant with the European MiCa regulation, under the supervision of the Dutch central bank, to create a European on-chain payment and settlement infrastructure as an alternative to dollar dominance.

Intesa shares are down 0.1%, while BPER is up 0.5%.

UniCredit - down 0.5% at EUR70.16 per share - has surpassed a 40% stake in Commerzbank through shares and derivatives, while acceptance of the exchange offer launched by the group led by Andrea Orcel for the German bank remains stagnant at 0.02%. According to the latest BaFin data, UniCredit holds 26.77% of Commerzbank in shares, plus 10.7% via cash-settled derivatives and a further 3.22% through total return swaps.

Enel, slightly down at EUR9.554 per share, successfully placed a two-tranche bond totaling EUR2.5 billion on the Eurobond market, aimed exclusively at qualified investors. Demand reached approximately EUR8.5 billion, roughly 3.5 times the offer.

On the Mid-Cap, MAIRE - up 3.2% - announced new awards and additional work related to previously announced orders for a total amount of approximately EUR1.3 billion, with projects located in Asia, Europe, and the Americas.

Pirelli & C, flat at EUR5.95 per share, announced that the shareholders' agreement signed on May 16, 2022, between China National Chemical Corporation Limited, China National Tire & Rubber Corporation Ltd, CNRC International Limited, Fourteen Sundew Sàrl, Marco Polo International Italy Srl, Camfin Spa, and Marco Tronchetti Provera & C. Spa expired on May 18 at the end of its three-year term.

Ferretti, down 0.8%, reported a 12% decline in first-quarter profit to EUR23.9 million from EUR21.0 million in the same period of 2025.

Technoprobe leads the index, rising 5.5% to EUR29.56 per share.

On the Small-Cap, Aedes, which saw no trades, announced that on May 25 it will execute a reverse stock split at a ratio of one new ordinary share for every 10 ordinary shares held. The company will consolidate 128.1 million existing ordinary shares into 12.8 million new ordinary shares.

Trevi Finanziaria, down 0.8%, will proceed with a reverse stock split at a ratio of one new share for every 20 existing shares. Specifically, the company stated that the 312.3 million existing ordinary shares will be consolidated into 15.6 million new ordinary shares, while the share capital will remain unchanged at EUR123.1 million.

Top gains were seen on SS Lazio, which rose 5.0% to EUR1.675 per share.

Among SMEs, eVISO - up 0.9% - announced its third-quarter and nine-month results. Specifically, from January to March, revenues amounted to EUR97.8 million, compared to EUR86.3 million in the corresponding period of the previous year, a positive change of 13%. In the nine months from July 2025 to March 2026, however, revenues stood at EUR252.5 million against EUR255.9 million recorded in the same period a year earlier, a 1.0% decrease.

Officina Stellare, gaining 0.3%, closed 2025 with a net profit of EUR1.8 million, up 81% from EUR1.0 million as of December 31, 2024. The value of production in 2025 reached EUR26.6 million, up 21% from EUR22.0 million the previous year.

SG Co, which saw no trades, announced that the board of directors approved the implementation procedures for the execution of a EUR2.5 million share buyback program. The program will begin on May 25 and end on October 28, 2027, for a maximum period of 18 months. To date, the company holds 334,473 treasury shares.

Destination Italia, down 0.9% at the open, announced that the board of directors confirmed Giulio Valiante and Massimiliano Cossu as CEOs of the company, granting them powers for ordinary management.

In New York on Tuesday, the Dow closed down 0.7% at 49,363.88, while the Nasdaq ended 0.8% lower at 25,870.71 and the S&P 500 closed down 0.7% at 7,353.61.

Among Asian markets, the Hang Seng shed 0.6% to 25,636.50, the Shanghai Composite fell 0.2% to 4,162.18, while the Nikkei closed 1.3% in the red at 59,742.

On the currency front, the euro is trading at USD1.1596 from USD1.1597 on Tuesday evening, while the pound is trading at USD1.3392 from USD1.3397 last night.

Among commodities, Brent is trading at USD110.05 per barrel from USD110.54 per barrel on Tuesday evening, while gold is worth USD4,479.23 an ounce from USD4,501.17 an ounce at yesterday's close.

Wednesday's economic calendar includes the UK house price index at 1030 CEST.

From 1300 CEST, the focus shifts to the US with mortgage reports, and at 1630 CEST, US heating oil and gasoline inventory figures will be released. At 2000 CEST, the FOMC minutes will be made public.

On Piazza Affari, quarterly results are expected from Generali, Diadema, and OPS Italia.

By Michele Cirulli, Alliance News reporter

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