(Alliance News) - On Thursday, the main European benchmarks continued to trade in negative territory, as tensions between the US and Iran showed no signs of abating, with conflicting communications from both countries fueling uncertainty.
Washington has insisted that Iran seek an agreement while continuing to deploy troops to the region, while the Iranian Foreign Minister has rejected the possibility of talks.
Markets are now pricing in two or three rate hikes by the European Central Bank by the end of the year, following a warning from ECB President Christine Lagarde that the bank stands ready to act "at any meeting" to counter inflation risks arising from energy shocks.
Consequently, the FTSE Mib is down 0.8% at 43,684.82, the Mid-Cap is shedding 1.0% at 52,816.27, the Small-Cap is in the red by 0.6% at 32,427.96, while Italy Growth is down 0.3% at 8,358.52.
London's FTSE 100 is down 0.9%, the Paris CAC 40 is falling by 0.8%, while the Frankfurt DAX 40 is losing 1.3%.
On the macro front, Istat reported that Italy's consumer confidence index fell sharply in March to 92.6 from 97.4 the previous month, while the business confidence indicator saw a marginal decline to 97.3 from 97.4.
Back in Milan, among the few stocks in positive territory on the MIB are the oil majors, with Eni remaining at the top, rising 0.9%, Tenaris gaining 0.5%, and Saipem up 0.4%.
Inwit is also performing well, up 0.5%. The company announced on Wednesday that it had received notice from Fastweb regarding the non-renewal of the Master Service Agreement (MSA), which, according to the company, was supposed to continue until 2028.
In its statement, Inwit specified that "this act is without legal basis and as such will be challenged in all competent venues."
Regarding the towers issue, TIM - up 0.6% - is also reportedly moving on the Inwit dossier. Over the weekend, the board of directors is expected to meet to evaluate the possible termination of the contract with the tower company by March 31, the deadline to make it effective as of the end of March 2028, following Fastweb's example. Inwit is shedding 1.3% while Telecom Italia is down 0.8%.
Poste Italiane rounds out the list of gainers, up 0.1%.
Among the decliners, Nexi is down 2.0%. The paytech firm has appointed Bernardo Mingrone as CEO and General Manager of the group, replacing Paolo Bertoluzzo.
Monte dei Paschi di Siena - down 0.5% - has revoked the powers of CEO Luigi Lovaglio, suspending him with immediate effect from the position of General Manager as well.
At the bottom of the pile is Avio, which is shedding 2.7%. Stellantis and Prysmian are both down 2.0%, while Moncler is in the red by 2.3%.
Deutsche Bank has upgraded its rating on Leonardo to "buy" from "hold," also raising the target price to EUR70 from the previous EUR57, indicating an upside potential of approximately 20%. Leonardo's stock is down 0.1%.
On the Mid-Cap, Danieli & C remains at the top of the list with a 4.2% gain after opening up 6.0%. The company announced on Wednesday that it closed the June-December 2025 half-year with a group net profit of EUR130.9 million, a 5% increase compared to the EUR125.1 million recorded in the same period of 2024.
Revenues stood at EUR1.69 billion, a 16% decrease compared to the EUR2.00 billion recorded between June and December of the previous year.
Among the few gainers are MFE Class A and B shares, which are rising 2.5% and 2.6% respectively.
Conversely, SOL is shedding 6.1%. On Thursday, the company announced that it closed 2025 with a net profit attributable to the group of EUR167.0 million, up from EUR147.7 million as of December 31, 2024. The board has proposed a dividend distribution of EUR0.45 per share, an increase from the EUR0.39 dividend a year ago.
Webuild is in the red by 1.8%. The company announced on Wednesday that NEOM has exercised its right to withdraw from the contract for the construction of a three-dam system to feed a freshwater lake in Trojena, Saudi Arabia, as well as the architectural structure "The Bow."
The withdrawal will take effect from March 29 and also affects other contractors operating in the area. The progress of the works is approximately 30%, with a remaining project backlog for Webuild of approximately EUR2.8 billion.
Webuild's construction backlog, net of the remaining activities related to the Trojena contract, remains over EUR50 billion.
Arnoldo Mondadori Editore - down 0.2% - has submitted an offer to the liquidator, appointed on March 10 by the Hoepli shareholders' meeting, for the acquisition of the educational publishing business unit of the historic Italian publishing house.
d'Amico International Shipping - down 0.1% - announced that its operating subsidiary d'Amico Tankers DAC has signed an agreement for the sale of the vessel MT High Seas for USD27.6 million.
On the Small-Cap, Datalogic is gaining 4.2%, followed by Pininfarina with 3.3% and Gas Plus, up 2.8%.
At the other end of the list, The Italian Sea Group is in the red by 8.9%, while Eurogroup Laminations is shedding 4.1%.
Brioschi is down 3.5%. The company announced on Wednesday that it closed 2025 with a consolidated net profit attributable to the group of EUR5.5 million, compared to a loss of EUR800,000 as of December 31, 2024.
The 2025 EBITDA stood at EUR3.6 million, down from EUR4 million the previous year.
Revenues as of December 31 were EUR18.1 million, compared to EUR18.0 million in 2024.
Among SMEs, Rino Petino is rising 10% after reporting a sharp decline in 2025 net profit but growing revenues. The company announced late Wednesday that it closed the fiscal year with a net profit of approximately EUR200,000, a 50% contraction compared to approximately EUR400,000 in 2024. However, sales revenues increased by 39% to EUR33.8 million against EUR24.4 million the previous year.
Alfonsino is up 0.3% after announcing on Thursday that it reduced its loss in 2025 to EUR100,000 from EUR400,000 in the previous fiscal year. Furthermore, it tripled its EBITDA to EUR900,000 from EUR300,000 the year before.
Ubaldi Costruzioni also stabilized at 0.3% after a 3.6% sprint at the opening. The company announced on Thursday that it had been awarded, through a temporary association of companies led by Dussmann Service, a contract for building and plant maintenance services, including greenery maintenance and porterage activities, for the administrations of the Marche Region, including healthcare entities.
The tender, issued by the Stazione Unica Appaltante Marche, is divided into three lots, has an estimated total value of approximately EUR26.7 million, and a duration of 48 months, extendable for another 12. Ubaldi Costruzioni's share is EUR12.7 million.
GM Leather, on the other hand, is shedding 6.7% after announcing that it closed 2025 with a net profit of EUR30,000, down from EUR330,000 as of December 31, 2024.
2025 revenues stood at EUR41.5 million, up from EUR40.5 million the previous year.
Xenia Hotellerie Solution - not yet involved in trading - announced on Thursday that it closed 2025 with a net loss of EUR2.6 million, compared to a profit of EUR200,000 as of December 31, 2024.
The company explained in a note that the result reflects a timing mismatch between costs incurred and expected revenues.
2025 revenues stood at EUR72 million, up from EUR57.3 million the previous year.
In New York, during the European evening, the Dow Jones gained 0.7% to 46,429.49, the Nasdaq 0.8% to 21,929.83, and the S&P 500 0.5% to 6,591.90.
On the currency front, the euro is trading at USD1.1562 from USD1.1570 on Wednesday evening, while the pound is trading at USD1.3358 from USD1.3377 last night.
Among commodities, Brent is trading at USD105.59 per barrel from USD101.06 per barrel last night, while gold is worth USD4,438.68 per ounce from USD4,551.31 per ounce last night.
On Thursday's economic calendar, at 1300 CET the focus shifts to the US for continuing jobless claims, while at 2100 CET a speech by Fed Governor Lisa Cook is scheduled.
By Chiara Bruschi, Alliance News reporter
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