Futures point lower; MIB set to restart from 49,200 level

(Alliance News) - Futures on major European indices indicate a negative start to the session, continuing the weakness observed in the previous session, as reignited geopolitical tensions in the Middle East fuel a generalized increase in risk aversion.

Market attention remains focused on developments in the Strait of Hormuz, following reports that U.S. Navy units intercepted Iranian attacks, responding with targeted operations. Despite President Donald Trump's statements regarding the stability of the ceasefire, the situation remains fragile and continues to support demand for defensive assets, with upward pressure on energy and widening risk premiums.

On the monetary front, the market continues to price in approximately 50 basis points of further rate hikes by year-end, equivalent to two additional restrictive moves, with a 75% probability of an initial tightening as early as the June meeting.

In this context, the MIB - after closing down 0.8% at 49,291.01 last night - is currently marking a loss of 185.00 points.

The CAC 40 is shedding 64.00 points, the DAX 40 is retreating by 173.00 points, while the FTSE 100 is posting a loss of 81.30 points.

Among the secondary boards, on Thursday the Mid-Cap closed down 0.2% at 59,722.25, the Small-Cap gained 0.3% to 35,448.75, and Italy Growth ended 0.1% lower at 8,907.65.

On Piazza Affari, within the MIB, Campari closed the session down more than 14%, following two bullish sessions. Campari NV announced on Wednesday that it closed the first quarter with sales of EUR643 million, down 3.4% from EUR666 million as of March 31, 2025.

Prysmian slipped 0.1%. UBS confirmed its 'buy' recommendation on Prysmian, raising the target price to EUR175 from EUR135, following a London roadshow that reinforced analysts' conviction in the continuation of the earnings upgrade cycle. Analysts Christopher Leonard, Andre Kukhnin, and Dini Magoon consider Prysmian 'one of the most attractive stocks linked to electrification and data centers' in the European industrial sector.

Leonardo - in the red by 1.9% - announced on Thursday that a new board of directors has been appointed, a new chairman selected, and a buyback plan authorized. Specifically, the company stated that the new board members are: Francesco Macrì - appointed chairman -, Lorenzo Mariani, Trifone Altieri, Roberto Diacetti, Enrica Giorgetti, Elena Grifoni, Dominique Levy, Cristina Manara, Francesco Soro, Maurizio Tucci, Elena Vasco, and Rosalba Veltri.

The buyback involves 2 million Leonardo ordinary shares and will be launched to service the company's incentive plan. To date, the company holds 1.2 million treasury shares, representing 0.2% of its share capital.

Azimut Holding - down 4.3% - reported on Thursday that it closed the quarter with net profit up 15%, rising to EUR125.3 million from EUR115.2 million recorded in the first quarter of 2025. Revenues stood at EUR370.6 million, up from EUR321 million recorded from January to March of the previous year, supported by a 14% increase in recurring revenues across all key markets, with particularly solid contributions from Italy, the USA, the UAE, and Brazil.

A2A - down 1.6% - announced on Thursday that, in collaboration with IG Group, it was awarded two European public tenders issued by Aeroporti di Roma for the design, construction, and management of two new photovoltaic plants of 7.3 MW and 6.0 MW respectively within Rome Fiumicino airport. As the company explained in a note, the operation represents a further step forward promoted by ADR in the decarbonization path of 'Leonardo da Vinci', for nine consecutive years the best airport in Europe.

On the Mid-Cap, Brembo - up nearly 11% - announced on Thursday that it closed the first quarter of 2026 with a net profit of EUR56.9 million, an 11% increase compared to EUR51.1 million in the same period of 2025, with the margin on revenues rising to 6.1% from 5.3%.

During the quarter, revenues fell 2.1% to EUR937.4 million from EUR957.0 million, while at constant exchange rates they recorded growth of 1.9%.

Salvatore Ferragamo advanced 7.4%, marking its third bullish session, with a final price of EUR8.48 per share.

Ascopiave - in the red by 4.9% - reported on Thursday that it closed the first quarter with a profit of EUR7.5 million, down from EUR9.3 million in the same period of the previous year. Revenues amounted to EUR70.8 million from EUR54.8 million in the first quarter of 2025.

The board of Banca Ifis - down 0.9% - announced on Thursday that it closed the first quarter of 2026 with a consolidated net profit of EUR31.3 million compared to EUR47.7 million last year in the same period. The intermediation margin stood at EUR216.4 million from EUR178 million last year. Net interest income was EUR127.4 million compared to EUR130.8 million in the first quarter of 2025.

On the Small-Cap, Industrie De Nora gained 6.8%, marking its third consecutive bullish session.

Softlab finished up 5.9% at EUR1.17 per share, following a flat session the previous day.

SIT - down 0.4% - closed the first quarter with a net profit of EUR560,000 compared to a loss of EUR2.9 million in the same period of 2025. The adjusted net result was positive at EUR827,000 compared to the loss of EUR1.5 million recorded a year earlier.

The board of IGD - up 0.4% - announced on Thursday that it closed the first quarter of 2026 with a net profit of EUR5.7 million, an increase of EUR4.1 million compared to the figure for the same period last year. The board also confirmed the guidance for the full year, which forecasts a recurring net profit of at least EUR45 million by the end of 2026.

Among SMEs, Deodato.Gallery advanced 5.1%, after two sessions ending with bearish candles.

Omer - in the green by 3.5% - announced on Thursday that it has started operational activities for the execution of a new order from a major European player, a leader in the sanitary systems sector. Specifically, the contract involves the supply of toilet modules for high-speed trains and includes the supply of toilet module cabins for 108 sanitary systems, with an option for an additional 162 sanitary systems. Delivery activities will begin during the first half of 2026 and will conclude by the end of 2027.

Maps - flat at EUR2.37 - announced on Wednesday that it has finalized the acquisition of 51% of the share capital of the newly formed Energy Audit, through the subscription of a capital increase reserved for Maps Energy Srl amounting to EUR187,347.00, of which EUR20,400.00 as nominal value and EUR166,947.00 as share premium.

Predict - in the red by 1.4% - announced on Thursday that it was awarded the supply of an OPTIP Bodycam integrated platform for the Local Health Authority of the Province of Foggia, through direct award, for a total value of EUR97,000.

TraWell Co - down 3.6% - announced on Wednesday that it closed 2025 with a net profit of EUR700,000, a sharp decline compared to EUR1.9 million as of December 31, 2024. Revenues were EUR28.8 million from EUR30.0 million in 2024.

In New York last night, the Dow shed 0.6%, the Nasdaq slipped 0.1%, while the S&P 500 retreated 0.4%.

Among Asian markets, the Nikkei is marking a loss of 0.2%, the Shanghai Composite is advancing fractionally, while the Hang Seng is shedding 1.0%.

On the currency front, the euro is changing hands at USD1.1743 from USD1.1768 on Thursday evening, while the pound trades at USD1.3580 from USD1.3613 last night.

Among commodities, Brent is trading at USD100.62 per barrel from USD98.47 per barrel last night, while gold is worth USD4,725.55 per ounce from USD4,735.65 per ounce last night.

Regarding Friday's economic calendar, from the USA, at 1430 CEST, attention will be on unemployment data, while in the evening - as is customary on Fridays - the COT Report will be available at 2130 CEST.

By Maurizio Carta, Alliance News reporter

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