Indices Expected to Rise, Focus on Earnings

(Alliance News) - Major European markets are expected to open higher on Monday, with attention focused on the geopolitical situation and on corporate earnings.

Before the opening bell, UniCredit announced it closed 2025 with solid results and a new record in profitability, confirming the resilience of its business model amid falling rates and more volatile markets.

As reported by the bank on Monday, group net profit rose to EUR10.58 billion, up 14% from EUR9.31 billion in 2024, while statutory net profit reached EUR10.92 billion, a 12% year-on-year increase.

Total revenues for 2025 stood at EUR24.54 billion, down 1.3% compared to EUR24.87 billion in 2024, mainly due to a decline in net interest income, which fell 4.3% to EUR13.73 billion as a result of rate normalization. This drop was partially offset by growth in fees and net insurance management results, which rose 5.6% to EUR8.69 billion.

In the fourth quarter alone, total revenues came in at EUR5.69 billion, down 7.8% compared to the third quarter and 5.3% lower than EUR6.01 billion in the fourth quarter of 2024. This trend mainly reflects the negative contribution from trading income, which dropped from EUR274 million in Q4 2024 to minus EUR133 million in 2025, also due to about EUR240 million in extraordinary items linked to strategic portfolio hedges.

The FTSE Mib is indicated up by 347.5 points or 0.8% by IG futures after closing Friday 0.1% higher at 45,877.20.

Across Europe, London's FTSE 100 is seen up by 47.5 points or 0.5%, Paris' CAC 40 is expected to rise by 34.4 points or 0.4%, and Frankfurt's DAX 40 is forecast up by 91.0 points or 0.4%.

Among other Milan indices, on Friday evening, the Mid-Cap rose 0.4% to 60,375.96, the Small-Cap was fractionally higher at 36,595.30, and the Italy Growth index slipped 0.4% to 8,689.81.

On Friday evening, Prysmian took the lead, rising 3.6%. According to JPMorgan, the company's growth profile remains solid and supported by structural drivers despite the stock's strong re-rating.

The group benefits directly from accelerated investments in power grids, the spread of data centers, and the electrification process. These factors more than offset the weakness in cyclical activities and explain the resilience of growth.

Additionally, AQR Capital Management increased its short position on the stock to 0.81% from 0.7%.

Buzzi also performed well, up 2.7%. The company released preliminary full-year 2025 figures, reporting consolidated revenue of EUR4.52 billion, up 4.8% from EUR4.31 billion in 2024.

FinecoBank closed up 2.1%. On Friday, the company announced it had approved its 2025 accounts, closing with a net profit of EUR647.0 million, in line with the previous year. The board of directors proposed a dividend of EUR0.79 per share, up 7% year-on-year.

Among the decliners, Stellantis had a down day, closing more than 25% lower. On Friday, the company reported a reassessment of its strategy and related costs, stating that around EUR22 billion in charges were recognized in the second half of 2025.

Additionally, given the net loss for 2025, the company announced it will not distribute dividends in 2026, while the board authorized the issuance of up to EUR5.00 billion in perpetual subordinated non-convertible hybrid bonds.

The fashion sector also weighed on the market, with Brunello Cucinelli and Moncler down 0.2% and 0.4%, respectively.

Terna closed at EUR9.478 per share, up 1.4% from the previous day, registering its highest value since its June 2004 listing. The company, led by CEO Giuseppina Di Foggia, now boasts a market capitalization exceeding EUR19 billion.

Friday's record surpasses the previous high set on January 6, when Terna shares reached EUR9.404 apiece.

Among mid-caps, Anima Holding rose 0.2% after announcing Friday that it closed January with a negative net inflow in managed savings ex-branch I of EUR175 million.

Overall, total managed savings in January saw a negative net inflow of EUR139 million, the result of outflows in management segments and inflows in traditional insurance business.

The board of Credito Emiliano — flat at EUR15.86 — approved its accounts on Thursday, closing 2025 with consolidated net profit of EUR621.5 million compared to EUR620.1 million in 2024.

The board also announced a dividend of EUR0.75 per share, up from EUR0.70 in 2024, corresponding to a yield of 4.7% on the current share price.

Pirelli & C dropped 1.1%. On Thursday, the company announced that the board of directors, by majority, backed CEO Andrea Casaluci's stance on the future of Cyber Tyre operations, confirming that the technology should remain fully integrated within the group's industrial and organizational perimeter.

The decision was approved with nine votes in favor and five against, with the latter coming from board members linked to the Chinese shareholder.

According to Pirelli, a spin-off of Cyber Tyre would destroy the integrated industrial model, reduce competitiveness and value, and would not overcome the constraints of US regulations.

On the Small-Cap, Banca Sistema rose 0.5% after releasing results as of December 31, 2025, reporting net profit of EUR42.3 million, up 68% from EUR25.2 million at the end of 2024.

This result was also driven by the receipt of EUR103 million from a municipality following a European Court of Human Rights ruling, allowing the recognition of late payment interest of EUR40.9 million.

Generalfinance gained 5.1%. The company approved its 2025 accounts, closing with net profit of EUR28.8 million, up from EUR21.1 million the previous year, and proposed a unit dividend of EUR1.36, higher than the EUR0.83 paid in 2024.

OPS Italia lost 5.9%. The company announced the full extinguishment of over EUR1.6 million in debt through equity conversion, significantly strengthening its capital base and sharply reducing debt.

The transaction reduces the company's debt to about EUR350,000 from around EUR2.0 million and consists of converting receivables held by Taddia and Di Meglio against OPS Italia, related to the acquisition of PayStore.

Among SMEs, TradeLab rose 7.7%. On Friday, the company announced it had acquired the remaining 50% stake in OnTheMap Geomarketing from Telecom Italia — up 2.6% on the Mib — becoming its sole owner.

Predict lost 3.1%. The company announced it had signed a network contract with Weatecho Srl, a research and development firm spun off from the Polytechnic University of Bari specializing in nanotechnologies and advanced sensors.

The contract will last two years and, according to the company, aims to create an integrated collaborative robotics ecosystem to make processes in public and private hospitals more efficient and safer.

Eles closed down 0.3%. On Thursday, the company announced it had secured a new order from a US client operating in the biomedical sector.

In Asia, the Nikkei is up 3.9% at 56,363.94, the Shanghai Composite has risen 1.4% to 4,123.09, and the Hang Seng is up 1.8% at 27,026.56.

In New York, the Dow closed Friday up 2.5% at 50,115.67, the Nasdaq gained 2.2% to 23,031.21, and the S&P 500 rose 2.0% to 6,932.30.

On the currency front, the euro is trading at USD1.1855 from USD1.1812 at Friday's European equity close, while the pound is at USD1.3606 from USD1.3608.

Among commodities, Brent is trading at USD67.30 per barrel from USD68.53 on Friday evening, while gold is valued at USD5,034.88 per ounce from USD4,961.86 per ounce.

Monday's calendar includes, at 1030 CET, the sentix investor confidence index for the Eurozone and Germany.

On the bond front, at 1500 CET, French BTF auctions maturing in 3, 6, and 12 months are expected, while at 1730 CET it will be the turn of US Treasury bill auctions maturing in 3 and 6 months.

Among listed companies on Piazza Affari, results are expected from Banca Monte dei Paschi di Siena, Banca Profilo, EdiliziAcrobatica, Mediobanca, and Nusco.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to [e-mail]

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