(Alliance News) - Major European stock exchanges opened Monday's session lower as tensions between the US and Iran, coupled with a fresh rebound in Brent crude to USD111, heightened fears of a further spike in inflation and subsequent restrictive monetary policy from central banks.
Consequently, the FTSE MIB opened 2.1% lower at 48,089.15, the Mid-Cap shed 1.8% to 59,583.48, the Small-Cap fell 1.3% to 34,186.67, while Italy Growth lost 0.3% to 8,865.18.
London's FTSE 100 is slightly down, the CAC 40 in Paris is shedding 1.1%, while the DAX 40 in Frankfurt is down 0.5%.
In Milan, on the MIB, oil stocks rose to the top of the list, with Saipem and Eni gaining 2.7% and 1.4% respectively, while Tenaris slipped 0.1%.
Among the few gainers was Leonardo, which opened up 0.3%. Analysts maintain positive ratings on the stock, despite applying a discount related to the management transition. Among the first dossiers on CEO Mariani's desk is the 2026 guidance: first-quarter results, which exceeded expectations, could lead to an upward revision of targets. Particular attention is also focused on the integration of Iveco Defence Vehicles, acquired for EUR1.7 billion.
Stellantis - down 2.0% - and Dongfeng Group announced on Friday the signing of a strategic cooperation agreement to expand their 34-year partnership through the shared production of Peugeot and Jeep vehicles in China, destined for both the Chinese market and global sales.
Unipol - down 1.0% - announced on Friday that it closed the first quarter of 2026 with a reported consolidated net result of EUR329 million, up 15% from EUR285 million as of March 31, 2025. The consolidated net result, including the contribution from the stake in BPER, stood at EUR433 million compared to EUR407 million on a like-for-like basis as of March 31, 2025, representing a 6.2% increase.
BPER Banca fell 1.6%. UBS initiated a review of the stock, cutting its recommendation to 'neutral' from 'buy' and reducing the target price to EUR12.50 from EUR13.50, following the stock's strong outperformance over the last twelve months.
Analysts Adele Palama and Ignacio Cerezo pointed out that the stock now trades at a premium of nearly 20% compared to European banks, following an outperformance of over 30% against Italian peers and approximately 60% in absolute terms.
On the Mid-Cap, Interpump Group rose 3.9% to take the top spot.
El.En. opened 7.1% in the red, ending at the bottom of the index. On Friday, it reported closing the first quarter with consolidated revenue of EUR145.6 million, a 3.3% improvement from EUR140.9 million as of March 31, 2025.
The board of Tamburi Investment Partners - down 0.6% - approved on Friday the consolidated interim management report as of March 31, closing the first three months of the year with a pro-forma net profit of EUR23.5 million, approximately four times higher than the first-quarter 2025 result.
Salvatore Ferragamo left more than 18% on the floor following slightly declining quarterly accounts, with the price hovering around EUR6.61 per share.
On the Small-Cap, TXT e-Solutions shed 0.7%. On Friday, it announced the completion of the sale of part of its stake in Banca del Fucino, for a total cash inflow of EUR7.9 million.
IRCE rose 1.4%. On Friday, it reported closing the first quarter with consolidated revenues of EUR105.8 million, up 3.0% from EUR102.7 million as of March 31, 2025.
Fidia is suspended. The company announced on Friday that it closed 2025 with a positive consolidated net profit of EUR1.0 million, compared to a consolidated net loss of EUR9.5 million in 2024. The result includes the effects of fair value adjustments on POCs and warrants for approximately EUR2.5 million.
Among SMEs, VNE has not yet traded. The company announced that it achieved a 2025 profit of EUR616,000, a triple-digit increase from EUR293,000 in 2024. Sales revenues amounted to EUR17.0 million, up from EUR14.4 million in 2024.
Adventure has not yet seen any trades. The company announced it closed 2025 with a loss of EUR170,000, swinging from a profit of EUR63,000 recorded in 2024.
The board of Clabo fell 0.5%. On Friday, it released preliminary consolidated management data for the first quarter. Consolidated net sales stood at EUR11.2 million, down 28% compared to the same period last year at average exchange rates.
In the US, on Friday night, the Dow shed 1.1%, the S&P lost 1.2%, while the Nasdaq marked a 1.5% decline.
Among Asian markets, the Nikkei fell 1.0%, the Hang Seng is 1.3% in the red, and the Shanghai Composite is fractionally lower.
On the currency front, the euro is changing hands at USD1.1636 from USD1.1628 on Friday evening, while the pound is trading at USD1.335 from USD1.3338 yesterday.
Among commodities, Brent is trading at USD111.0 per barrel from USD108.84 per barrel on Friday evening, while gold is worth USD4,542.70 per ounce from USD4,552.65 per ounce at yesterday's close.
On Monday's economic calendar, a Treasury bill auction for three- and six-month maturities is scheduled in the US this afternoon.
On the Piazza Affari corporate calendar, results are expected from Green Oleo, EuroGroup Laminations, and Omer.
By Chiara Bruschi, Alliance News reporter
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