(Alliance News) - On Thursday, as US equities retreated from the previous session's peak amid an uncertain outlook for peace in the Middle East, major European markets were characterized by a sell-off, with the exception of Milan.

Tehran and Washington traded accusations over ceasefire violations, while Israel reported that it had launched an attack on Beirut.

On the macroeconomic front, the US economy grew by an annualized 1.6% in the first quarter of 2026, up from 0.5% in the final quarter of 2025 but below the preliminary estimate of 2%, following downward revisions to investment and consumption.

In the Eurozone, economic sentiment improved slightly in May, while industrial confidence continued to deteriorate against a backdrop of geopolitical tensions linked to the conflict with Iran and persistently high energy prices.

Domestically, Italian industrial producer prices rose by 0.3% month-on-month in April, following a 4.4% increase in March. On an annual basis, producer prices climbed 6.8% in April, up from the 4.2% recorded in March.

Consequently, the MIB closed up 0.5% at 49,825.32, the Mid-Cap rose 0.5% to 62,096.15, the Small-Cap gained 0.1% to 35,559.86, and Italy Growth advanced 0.6% to 9,039.87.

Other European markets ended in the red: the CAC 40 fell 0.2%, the DAX 40 lost 0.3%, and the FTSE 100 dropped 0.7%.

On Piazza Affari, Stellantis - down 0.3% at the close - extended its strategic partnership in Europe with TotalEnergies to 'offer customers the best solutions for engine oils and lubricants'. The two companies launched a new range of co-branded engine oils consisting of two product lines: TotalEnergies Quartz MOPAR and TotalEnergies Quartz EV3R MOPAR SUSTAINera.

Intesa Sanpaolo, through its IMI Corporate & Investment Banking Division, announced on Thursday its participation in a GBP825 million syndicated loan, equivalent to over EUR950 million, for Enviromena, a renewable energy project developer. The stock closed down 0.7%.

The board of Italgas, which rose 0.3%, appointed Pierre La Tour as the officer in charge of preparing corporate accounting documents effective June 1, the date on which he will also assume the role of CFO.

Berenberg reiterated its 'buy' recommendation on Ferrari - which recovered with a 3.5% gain compared to the previous day - with a target price of EUR381 for the Milan-listed shares and USD447 for the New York listing, following the presentation of the new Ferrari Luce. The Maranello-based firm's first fully electric model has divided market opinion.

FinecoBank and Unipol ended the session down 2.7% and 3.0% respectively. Defense stocks bolstered the index, with Leonardo rising 5.5% and Avio gaining 5.2%.

On the Mid-Cap index, Banca Ifis closed 1.4% higher. Intesa Sanpaolo confirmed its 'buy' rating on the stock with a target price of EUR27.60, viewing the sale of the Arecneprix NPL platform to Prelios as a further step in the group's simplification following the acquisition of illimity Bank.

The transaction allows Banca Ifis to accelerate the reorganization of non-strategic assets and proceed with the integration of illimity, reducing the group's operational complexity and containing costs.

Salvatore Ferragamo, topping the list with a 10% gain at the close, announced that its board of directors has approved a share buyback program for a maximum value of EUR53 million.

Technoprobe performed well, with buying pushing the stock up 7.3% to EUR34.00 at the close, while d'Amico ended the session down 2.3%, as did Technogym.

Among Small-Caps, Aedes, which gained 5.0%, acquired a residential property in Courmayeur, Dolonne, through its subsidiary Immobiliare Langhe for EUR1.6 million, plus estimated ancillary costs of approximately EUR150,000.

The company plans extraordinary renovation work to create Class A4 energy-efficient apartments, with estimated revenues between EUR5.2 million and EUR6.2 million.

PLC outperformed the field with a 5.8% rise to EUR3.30, while The Italian Sea Group was among the day's worst performers, falling 6.3% to EUR1.50.

Among SMEs, Kruso Kapital saw double-digit gains of 11% to EUR0.019 per share, while Helyx posted a positive performance of 11% to EUR0.786 per share.

Giglio.com, which saw a 1.8% decline, successfully completed the placement of 1.2 million newly issued ordinary shares with no par value, resulting from a share capital increase. The new shares were subscribed at a unit price of EUR0.49, for a total value of approximately EUR593,000, including share premium.

Siav, with gains of 9.2%, concluded the subscription, via Accelerated Bookbuilding, of a share capital increase for a maximum amount of EUR2.5 million through the issuance of up to 1.1 million new ordinary shares.

Telmes, flat at EUR1.205, closed the first quarter with revenues of EUR1.9 million, up from EUR1.6 million as of March 31, 2025. Furthermore, the company announced the start of a structural transformation process to transition the group from a traditional operating model to an AI-centric, data-driven organization capable of intelligently automating its key processes.

Tenax International closed 2025 with a production value of EUR15.7 million, down from EUR23.4 million as of December 31, 2024. The company ended the year with an adjusted net loss of EUR1.8 million, compared to an adjusted net profit of EUR600,000 in 2024. The stock fell 6.9%.

On Wall Street, the Dow Jones is down 0.1%, the Nasdaq is up 0.4%, and the S&P 500 has gained 0.5%.

In the currency markets, the euro is trading at USD1.1653 from USD1.1618 on Wednesday evening, while the pound is at USD1.3438, unchanged from Wednesday evening.

Among commodities, Brent crude is trading at USD94.51 per barrel from USD100.30 on Wednesday evening, while gold is valued at USD4,478.41 an ounce from USD4,507.56 at Wednesday's close.

On Friday's economic calendar, a speech by FOMC member Kashkari is scheduled for 0800 CEST, coinciding with German import price index data.

At 0845 CEST, the focus shifts to France for consumer price index and GDP data, while similar data for Spain will be released at 0900 CEST.

German unemployment data is expected at 0955 CEST, followed by Italian unemployment at 1000 CEST. German consumer prices are also due at 1000 CEST, with Italian consumer prices at 1100 CEST. Italian GDP will be published at 1200 CEST.

Canadian GDP is expected at 1431 CEST, while Baker Hughes US rig count data is due at 1900 CEST.

On Piazza Affari, several companies are set to present quarterly results, including EdiliziAcrobatica.

By Michele Cirulli, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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