Futures point lower as inflation fears resurface

(Alliance News) - Major European stock markets are bracing for another negative opening on Thursday, according to futures indications, extending the bearish momentum observed in the previous session.

Weighing on investor sentiment is primarily the renewed surge in oil prices, which has reignited fears of inflationary pressures and all but erased expectations for monetary policy easing by major central banks in the near term.

Crude oil recorded its second consecutive gain, supported by concerns over a potential escalation of the conflict with Iran. This factor is overshadowing the impact of the announced coordinated release of strategic reserves by major economies.

The risk of higher energy prices fuels the hypothesis of more persistent inflation. According to the European Commission, inflation in the eurozone could exceed 3% during the year.

In corporate news, ahead of the opening bell, the board of Leonardo Spa approved its 2025 results and 2026 guidance. The group ended the fiscal year with a net profit of EUR1.3 billion, up 15% from EUR1.15 billion the previous year.

The board also proposed a dividend of EUR0.63 per share, a 21% increase compared to the previous year's EUR0.52 per share.

The Mib, after closing down 1.0% at 44,772.96 points yesterday evening, is currently marking a 300.00-point loss in pre-market trading.

Among other European indices, the CAC 40 is down 36.00 points, the DAX 40 is down 140.7 points, while the FTSE 100 is recording a 12.00-point loss.

The Mid-Cap closed yesterday down 0.6% at 56,103.14, the Small-Cap ended 0.3% lower at 34,641.11, and Italy Growth finished just below parity at 8,463.10.

On Piazza Affari, among the blue chips, Eni was one of the few gainers, rising 2.0% following a 0.6% loss in the previous session.

The boards of Banca Monte dei Paschi di Siena and Mediobanca have approved the merger by incorporation of Piazzetta Cuccia into Rocca Salimbeni, a move that marks Mediobanca's exit from the stock exchange after 70 years.

The exchange ratio is set at 2.45 MPS shares for every Mediobanca share, including a 3% premium over market values.

Banca Monte dei Paschi rose 1.2%, while Mediobanca gained 2.1%.

DiaSorin fell 6.7% after a 1.1% gain the previous day. Notably, Squarepoint Ops trimmed its short position on the stock to 0.59% from 0.61%.

Stellantis - which fell 1.4% - is returning to the market with a massive EUR5 billion perpetual hybrid bond issuance, structured in three tranches across euros and pounds. The transaction saw record demand exceeding EUR19 billion, allowing the group to reduce expected yields.

The securities, with initial redemption clauses between 2031 and 2033, are intended to strengthen the capital structure without diluting shareholders like Exor following EUR22 billion in write-downs related to electric vehicles and the suspension of the dividend.

In the mid-cap segment, Alerion rose 3.2% ahead of its earnings release and following a 2.3% loss at Tuesday's close.

Carel Industries - up 2.0% - approved its consolidated results for the year ending December 31, 2025, on Tuesday, reporting a net result of EUR73.6 million, an 18% increase over 2024. The board also proposed a dividend of EUR0.195 per share, up from EUR0.165 last year.

Consolidated revenues rose to EUR629.0 million, marking 8.7% growth over the previous year, which would have been 10.6% at constant exchange rates.

Comer Industries advanced 1.1%, following a 2.3% gain in the previous session.

Ascopiave dropped 4.7% after a 1.3% gain the day before, with the final price around EUR3.68 per share.

Ferretti - flat at EUR3.75 - announced Tuesday that Ferretti International Holding Spa purchased 188,768 ordinary shares of the company. The shares were acquired at an average unit price of EUR3.6462, for a total value of EUR688,285.88.

On the Small-Cap index, doValue saw a boost, rising 3.6% to EUR2.29 per share, rebounding after a bearish streak.

SS Lazio also saw good buying interest, with the Roman club's stock rising 3.8% to EUR1.22, following a 3.1% gain yesterday evening.

EuroGroup Laminations - bearish at 2.9% - could face further performance deterioration in 2026, according to a new report published Wednesday by Kepler Cheuvreux, which significantly reduced forecasts for the group and lowered the target price to EUR1.25 from EUR1.55.

Tesmec, meanwhile, fell 11% despite positive results. The company announced Wednesday that it closed 2025 with a return to profit of EUR2.1 million from a loss of EUR4.8 million as of December 31, 2024. Annual revenues were EUR257.6 million, up 7.5% from EUR239.5 million in 2024.

Among SMEs, Alfio Bardolla was notably negative - among many on the list - closing down 4.7% and bringing the price to around EUR1.52.

Braga Moro closed down 5.0%, heading toward its third consecutive bearish session.

DBA Group fell 0.3%. The company announced Wednesday that it was awarded, as lead partner, funding from the Veneto Region for the H2Nexus project. The funding, totaling approximately EUR1.4 million under the PR Veneto FESR 2021-2027, supports an initiative combining industry and research.

Growens advanced 16%, following a similar gain in the previous session.

In New York overnight, the Dow Jones fell 0.6%, while the S&P 500 closed down 0.1% and the Nasdaq gained 0.1%.

Among Asian markets, the Hang Seng is down 0.9%, the Nikkei closed 1.0% lower, while the Shanghai Composite is shedding 0.1%.

On the currency front, the euro is trading at USD1.1549 from USD1.1643 on Tuesday, while the pound is at USD1.3384 from USD1.3452 yesterday evening.

Among commodities, Brent is trading at USD97.37 a barrel from USD92.62 a barrel on Wednesday, while gold is worth USD5,167.17 an ounce from USD5,167.50 an ounce yesterday evening.

Thursday's macroeconomic calendar includes Italian quarterly unemployment data at 1000 CET, while a BTP auction for three-year, seven-year, and 15-year maturities will be held at 1110 CET.

At 1330 CET, initial jobless claims are due from the US, while at 2130 CET - as every Thursday - the Federal Reserve's weekly balance sheet will be published.

Among companies, numerous results are expected, including Banca Mediolanum, Credito Emiliano, Safilo Group, Caltagirone, and Banco di Desio e della Brianza.

By Maurizio Carta, Alliance News reporter

Comments and questions to [e-mail]

Copyright 2026 Alliance News IS Italian Service Ltd. All rights reserved.