European markets set for higher open; focus on PMIs

(Alliance News) - On Wednesday, the futures market points to a higher opening for stock exchanges, following the bullish momentum recorded on the previous eve supported by easing Middle East tensions and robust corporate earnings.

The US has reaffirmed the ceasefire with Iran, confirmed the end of offensive operations, and temporarily suspended rescue operations for vessels in distress exiting the Strait of Hormuz to allow for potential new negotiations.

On the macro front, services PMIs from the major countries of the Old Continent and the Eurozone are expected this morning, along with Italian retail sales.

According to IG, the MIB is called up 1.2% or 118.5 points, the CAC 40 is expected to be positive by 1.0% or 78.6 points, the DAX 40 is anticipated to rise by 0.9% or 223.6 points, and the FTSE 100 is seen growing by 1.2% or 120.1 points.

Returning to Milan, yesterday evening the MIB closed up 2.3% at 48,557.50, the Mid-Cap gained 0.9% to 58,030.53, the Small-Cap rose 0.4% to 34,625.98, and Italy Growth closed with a fractional increase at 8,870.96 points.

On Piazza Affari, Italgas - up 1.9% - closed the first quarter of 2026 with an adjusted net profit attributable to the group of EUR189.4 million, a 43% increase compared to EUR132.6 million in the same period of 2025.

Banco BPM, up 1.3%, closed the first quarter of 2026 with a net profit of EUR480 million, up 15% from the previous quarter and 7% above market consensus, in line with the strategic plan targets.

UniCredit, up 5.9%, has secured a total position in Commerzbank AG equal to 35.5%, according to the exchange offer prospectus. Since the current exchange ratio of 0.485 shares is at a discount, the derivatives strategy guarantees UniCredit control over the takeover: once the 30% threshold is crossed, the institution will be able to purchase further shares on the market without constraints, consolidating its stake in the German bank's capital.

In the first quarter, UniCredit's results show strong profitability growth, with a net profit of EUR3.22 billion, up 16% from EUR2.77 billion the previous year. During the period, total revenues stood at EUR6.87 billion, up 4.9% year-on-year from EUR6.56 billion, while net revenues reached EUR6.7 billion, up 3.3%.

During an interview with Bloomberg published on Tuesday, Prysmian CEO Massimo Battaini stated that the company is ready to move on the market through M&A transactions totaling EUR4.00 billion. The stock closed at the top of the basket, up 10% at EUR139.60.

Ferrari, at the bottom of the list with a 4.0% sell-off, closed the first quarter with a net profit of EUR413 million, substantially stable compared to EUR412 million in the same period of 2025, while diluted earnings per share rose to EUR2.33 from EUR2.30, up 1.0%.

A2A, up 0.5%, is evaluating the Bioenerys dossier and is preparing to submit a bid for the company that brings together the biogas and biomethane activities of Snam, which was up 0.6%.

On the Mid-Cap, Brembo took the top of the list with gains of 5.7% at EUR8.435 along with LU-VE, up 5.9%, while Carel Industries, which touched a 52-week high, gained 4.4%.

NewPrinces, following a EUR10 million buyback, saw a 12% sell-off to EUR15.57 per share.

Among small caps, doValue, with a 3.6% decline, announced the completion of the first sale of re-performing loans in Greece to institutional investors specializing in credit. The portfolio, consisting of approximately 3,400 loans relating to about 1,800 primary debtors, with a gross value of approximately EUR230 million, was originally included in the Cairo securitization and reached re-performing status thanks to active management by doValue Greece as servicer.

Edison - flat at EUR2.19 - received an update from QatarEnergy regarding the ongoing force majeure related to LNG supplies destined for the Adriatic LNG terminal.

TXT e-solutions - down 1.5% - signed an agreement to acquire 100% of NetMediaClick Srl, a MarTech company active in performance marketing and retail media, thereby strengthening the Smart Solutions division's offering and expanding its presence in the domestic market.

Dexelance - with gains of 3.9% - approved a paid capital increase of up to EUR50 million, accompanied by a further increase of up to EUR20 million to service warrants with a three-year maturity.

Among SMEs, Kruso Kapital - up 3.5% - closed the quarter with a net profit of EUR2.6 million, up 35% compared to EUR1.9 million in the same period of 2025.

Impianti - which shed 0.2% - was awarded a four-year contract worth EUR1.6 million for the supply of various types of solutions as well as next-generation audio-video setups for educational use both 'in person' and remotely for a leading university.

Intred, up 0.6%, announced that in the first quarter it recorded total revenues of EUR14.2 million compared to EUR13.9 million in the first three months of 2025, up 2.0%. Core revenues, net of the 'Bandi Scuola' school tenders, grew by 6.8%.

In New York, the Dow Jones gained 0.7% to 49,298.25 points, the Nasdaq grew by 1.0% to 25,326.13, while the S&P 500 closed up 0.8% at 7,259.22.

In Asia, the Nikkei was closed for Constitution Day, the Hang Seng is up 0.8% at 26,106.50, and the Shanghai Composite is up 0.9% at 4,150.00 points.

On the currency front, the euro is trading at USD1.1733 from USD1.1706 on Tuesday evening, while the pound is trading at USD1.3585 from USD1.3564 yesterday evening.

Among commodities, Brent is trading at USD108.09 per barrel from USD110.44 per barrel on Tuesday evening, while gold is worth USD4,660.22 per ounce from USD4,578.16 per ounce yesterday evening.

On Wednesday's economic calendar, between 0915 CEST and 1030 CEST, services and composite PMIs will arrive from Spain, Italy, France, Germany, the Eurozone, and the UK. At 1000 CEST, Italian retail sales data will also be released, followed an hour later by Eurozone producer prices.

At 1200 CEST, the focus shifts to US mortgage data.

Among Piazza Affari companies, results are expected from Ariston Holding, Banca Generali, BPER Banca, Campari, Fineco, Nexi, Poste Italiane, and Telecom Italia, among others.

By Michele Cirulli, Alliance News reporter

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