February Kicks Off with Momentum for European Markets

(Alliance News) - On Monday, the stock market month of February began with momentum across European exchanges, which saw buying activity during the week of the European Central Bank and are simultaneously awaiting imminent quarterly results.

On the macroeconomic front, according to data from S&P Global and Hamburg Commercial Bank, manufacturing output in the Eurozone increased in January for the tenth time in the past eleven months, though without much vigor as orders declined compared to December.

Thus, the Mib closed trading up 1.1% at 46,005.21 points, the Mid-Cap slipped 0.5% to 60,458.31, the Small-Cap rose 0.1% to 37,119.93, and the Italy Growth index showed gains of 0.2% at 8,793.14 points.

Other markets were positive: the CAC 40 up 0.7%, the DAX 40 up 1.0%, and the FTSE 100 up 1.2%.

"Gold and silver may have entered a bearish phase in the last two trading sessions, but we have already seen dips at the lows," noted Chris Beauchamp of IG.

"The market fundamentals haven't changed, but now investors must ask themselves whether they truly believed in them or were simply deceived by one of the most impressive momentum-driven moves of recent years," the analyst concluded.

In Milan, banks led the charge with Monte dei Paschi di Siena up 3.0%, Banca Mediolanum up 2.3%, and BPER Banca up 3.5%.

Intesa Sanpaolo, with net profit up 7.6% to EUR9.3 billion compared to EUR8.7 billion in 2024, announced on Monday its new 2026-2029 business plan aiming for "zero NPLs" and a strategy focused on growing fee income and creating sustainable value for shareholders and stakeholders.

The plan targets net profit of over EUR11.5 billion by 2029, up from around EUR9.3 billion expected for 2025, with a ROE of 22% and a ROTE of 27% at the end of the period. The stock ended trading up 0.2%.

Prysmian—up 0.3%—signed a contract with SP Energy Networks' Transmission business and National Grid Electricity Transmission PLC, owners of the UK's electricity transmission systems, for the construction of the Eastern Green Link 4 interconnection project, valued at EUR2.3 billion.

Defense stocks saw selling, with Leonardo and Fincantieri down 0.6% and 0.7%, respectively.

Likewise, oil stocks declined after the announcement of talks between Iran and the US: Snam lost 0.6%, while Eni slipped fractionally to EUR17.22 per share.

On the Mid-Cap, an eToro analysis highlights that, in the fitness-related stocks sector, long-term returns have especially rewarded business models with strong B2B exposure, such as Technogym—up 1.9%—characterized by more predictable revenues and less dependence on discretionary consumer spending.

Juventus Football Club reached an agreement with OGC Nice for the temporary, free acquisition until June 30, 2026, of the playing rights of footballer Jérémie Boga: the stock fell 1.3%.

Evaluation.it showed that Zignago Vetro shares have a lower risk profile than the market average. The stock, down 0.7% on the day, has a beta below 1, a factor that, as noted by Guerrini, author of the analysis, reflects good geographical diversification of the business, capable of mitigating the typical cyclicality of the glass packaging sector.

Top gainers included Fiera Milano, up 4.3%, and MAIRE, up 4.2%.

BFF Bank, on the other hand, posted a dramatic 44% drop to EUR4.812 per share. The company announced a comprehensive de-risking program for its factoring portfolio, along with a revision of its 2026 financial targets and the preparation of a new strategic plan, to be presented in the second half of 2026. Additionally, Giuseppe Sica was appointed as the new general manager.

On the Small-Cap, Pininfarina—up 3.9%—signed a commercial development and production agreement with an automaker, valued at over EUR40 million.

Borgosesia completed the early closure of the placement of the second tranche of its bond loan with a 6.30% coupon, up to a maximum of EUR65 million, launched on January 22. The stock closed flat at EUR0.56 per share.

EPH signed a strategic agreement with RONA Limited Company and Société Internationale pour les Systèmes Intelligents et l'Énergie – Tunisia for the development, financing, and construction of a photovoltaic plant in Tunisia. The stock was down 2.8%.

Beewize closed down 5.3% at EUR0.338 per share, alongside OPS Retail, which fell 16% to EUR0.032 per share.

Among SMEs, ESI—up 3.9%—signed another contract for revamping work on a photovoltaic plant located in the Apulia region, Brindisi province, with a total capacity of about 8 MWp. The order is worth around EUR2 million.

Haiki+, with a 12% gain, completed a capital increase operation excluding pre-emptive rights for a maximum amount of EUR3 million, through the issuance of up to 4.5 million new ordinary shares with regular enjoyment reserved for the company's strategic and industrial partners.

High Quality Food, up 3.0%, approved the guidelines for its 2026–2029 industrial plan. The plan foresees consolidated revenue at the end of the period of about EUR38 million, compared to EUR20 million estimated for 2025, with a CAGR of 18% for 2025–2029.

TMP Group, down 4.6% on the day to EUR5.25 per share, secured a new EUR150,000 contract related to the Milan-Cortina Olympic Games.

Portobello, after recently being admitted to a composition with creditors under business continuity, rose 15% to EUR1.73 per share.

In New York, the Dow Jones is up 0.9%, the S&P 500 up 0.5%, and the Nasdaq up 0.6%.

On the currency front, the euro is trading at USD1.1802 from USD1.1880 at Friday's close of European equity markets, while the pound is trading at USD1.3648 from USD1.3721 on Friday evening.

Among commodities, Brent is trading at USD66.12 per barrel from USD69.80 per barrel on Friday, while gold is worth USD4,675.45 an ounce from USD5,003.26 an ounce on Friday evening.

On Tuesday's economic calendar, at 0745 CET, focus will be on the French consumer price index, while at 0800 CET Spanish unemployment data will be released.

At 0900 CET, the European Central Bank's bank lending survey is expected. In the US, at 1510 CET, the consumer optimism economic index will be released, while at 1700 CET, Italy's car registrations for the year and month will be published.

In Milan, results are expected from Banca Mediolanum and Intred.

By Michele Cirulli, Alliance News Reporter

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