European stocks rally; Fed and US optimism as markets reopen

(Alliance News) - European stock markets opened higher on Wednesday, extending the gains of the previous two sessions and hitting new all-time highs.

Investor sentiment remained positive, buoyed by optimism over the imminent reopening of the US government and strengthening expectations of further rate cuts by the Federal Reserve, while traders continued to closely monitor corporate updates.

The MIB is therefore up 0.9% at 44,819.03 points.

The CAC 40 in Paris is up 0.8%, the DAX 40 in Frankfurt is up 1.0%, and the FTSE 100 in London is up 0.2%.

Among the smaller indices, the Mid-Cap is up 0.1% at 57,836.49, the Small-Cap is up 0.2% at 35,925.05, while the Italy Growth is fractionally up at 8,502.36.

Among the blue chips, Recordati rose 2.6%, its third session of gains. The company announced on Tuesday that it had closed the first nine months of 2025 with adjusted net income up 11% to EUR493.1 million from EUR445.4 million. Revenues grew to EUR1.96 billion from EUR1.74 billion, an increase of 12%.

Ferrari rose 1.8% to EUR370.15. It should be noted that JP Morgan initiated coverage of the stock with a target price of EUR394.00.

Leonardo - up 0.6% - announced that it has completed the monetization of its stake in Avio, down 1.4% on the Mid-Cap, which now stands at 19.3% compared to the previous 28.75%. The transaction, the company explains, is fully consistent with the group's strategic priorities and capital allocation objectives.

The board of directors of A2A - down 5.2% - approved the accounts for the first nine months of the year, which closed with a net profit of EUR 581 million, down 19% compared to EUR 713 million in the same period of 2024. Net of the normalization of hydropower, the decline is reduced to 7%. Revenues amounted to EUR 10.17 billion, up 12% compared to the first nine months of 2024, thanks to the consolidation of Duereti and the increase in wholesale energy commodity prices.

In the secondary segment, Intercos rose 1.8% to EUR11.60 per share.

doValue, up 4.1%, announced its nine-month results, reporting adjusted net income of EUR 11.6 million compared to EUR 4.8 million recorded from January to September 2024, an increase of 140%. Net income including non-recurring items was negative EUR7.7 million compared to EUR10.3 million in the same period last year, a decrease of 174%.

Juventus Football Club - up 0.4% - announced on Tuesday that the board of directors had appointed Damien Comolli as the new CEO, terminating his previous position as general manager and with powers in continuity with the previous structure.

RCS MediaGroup - up 0.4% - announced on Tuesday that it had closed the first nine months with a net profit of EUR 31.6 million, down from EUR 32.1 million at September 30, 2024. Consolidated revenues for the nine months amounted to EUR 583.0 million, down from EUR 602.3 million in the same period of 2024.

Italmobiliare - down 3.9% - announced on Tuesday that it closed the first nine months of 2025 with aggregate group revenues from industrial portfolio companies of EUR 1.19 billion, up 12%, while EBITDA fell 21% to EUR 115.2 million. Net Asset Value was EUR2.20 billion compared to EUR2.22 billion a year earlier.

On the Small-Cap market, EPH rose 8.9%, bringing the price to around EUR0.61 per share.

Sabaf - down 0.7% - announced on Tuesday that it closed the first nine months of 2025 with an adjusted net profit of EUR 9.2 million, down from EUR 12.6 million in the first nine months of 2024. Net profit for the period was EUR 7.4 million, down from EUR 9.6 million in the first nine months of 2024.

B&C Speakers - up 1.7% - announced on Tuesday that it closed the first nine months of 2025 with a total group profit of EUR 8.6 million, down from EUR 15.7 million in the first nine months of 2024, when there was a one-off positive effect from the Patent Box of EUR 4.0 million.

Aedes is down 4.0%, its third consecutive bearish candle if confirmed at closing.

Among SMEs, Industrie Chimiche Forestali is up 5.7% to EUR6.36 per share, after gaining 1.0% in the previous session.

ICOP, up 1.7%, announced on Tuesday a new contract award for the modernization of State Road 106 "Jonica," between Corigliano and Sibari, in the province of Cosenza, a project awarded by ANAS for a total value of more than EUR 397 million.

Circle Group - still not traded - announced on Wednesday the signing of two new strategic projects worth a total of more than EUR 300,000 as part of the LogIN Business program, with the aim of enhancing the digitization and interoperability of logistics and customs flows in line with the European eFTI Regulation and the objectives of the PNRR.

Trawell Co - up 3.3% - announced on Tuesday that it had signed the 'Subscription Agreement' for the bond issue reserved for professional investors, with Equita SIM acting as dealer and Cassa Depositi e Prestiti Spa as final subscriber. The issue is scheduled for November 14, subject to the completion of the planned activities, including legal opinions and the required guarantees.

In New York, during the European evening, the Dow Jones gained 1.2%, the Nasdaq lost 0.2%, while the S&P 500 gained 0.2%.

In Asia, the Hang Seng closed up 0.9%, the Shanghai Composite lost 0.1%, while the Nikkei closed up 0.4%.

On the currency front, the euro traded at USD 1.1585 from USD 1.1592 at Tuesday's stock market close, while the pound traded at USD 1.3150 from USD 1.3169 on Tuesday evening.

Among commodities, Brent crude traded at USD 64.81 per barrel, down from USD 65.15 per barrel at Tuesday evening's close, while gold was worth USD 4,128.53 per ounce, down from USD 4,105.82 per ounce last night.

On Wednesday's economic calendar, the OPEC report is scheduled for 1100 CET and ECB's De Guindos is expected to speak at 1240 CET. Focus on US mortgages from 1300 CET, while at 1800 CET there are the EIA's short-term energy forecasts.

Numerous nine-month results are expected on the Italian stock market.

By Maurizio Carta, Alliance News Reporter

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