Luxury leads MIB as European markets edge higher

(Alliance News) - European markets moved cautiously into the final trading sessions of the week on Friday, following Donald Trump's comments expressing "great optimism" regarding a Middle East peace deal, despite his intention to maintain military deployment should conditions not be fully met.

Meanwhile, Israel and Lebanon have entered negotiations following a prolonged and heavy raid on Beirut. However, the Strait of Hormuz remains effectively closed, a circumstance that continues to drive oil prices higher.

Against this backdrop, the MIB opened up 0.1% at 47,393.98 points, the Mid-Cap rose 0.7% to 59,938.82, the Small-Cap gained 0.6% to 33,944.38, and Italy Growth climbed 0.4% to 8,612.37.

European markets also saw modest gains: the CAC 40 rose 0.2%, while the DAX 40 and the FTSE 100 both edged up 0.1%.

On Piazza Affari, there is significant activity surrounding new appointments and corporate governance. Banco BPM, trading up 0.2%, will wait until the last moment to decide on its vote for the renewal of the board of directors at Banca Monte dei Paschi di Siena, which is up 0.3%, on April 15. Holding a 3.7% stake, the bank will choose between supporting the board's list, which nominates Fabrizio Palermo as CEO, or abstaining.

BPM itself is preparing its own continuity list for the outgoing board, led by Massimo Tononi and Giuseppe Castagna, which appears to be the favorite with expected support of around 40%.

The luxury sector started the session higher, with Brunello Cucinelli leading the pack, up 5.8% at EUR84.28, and Moncler rising 1.7% to EUR55.06 per share.

Conversely, defense stocks slipped to the bottom of the basket, with Leonardo falling 2.2% and Avio dropping 1.8%.

Non-binding offers for Bioenerys, a Snam subsidiary specializing in biomethane and valued at approximately EUR500 million, are expected by early May. Snam, trading down fractionally at EUR6.806 per share, is pursuing the sale due to regulatory requirements to divest production assets by June 2027. Verdalia, a Goldman Sachs vehicle, is seen as a frontrunner, potentially moving in tandem with Ludoil, which is interested in the organic waste treatment (Forsu) plants.

Stellantis production, up 1.4%, showed signs of recovery in Italy during the first quarter of 2026, marking a 9.5% increase with 120,366 total vehicles. According to the Fim-Cisl report, the automotive sector surged 22%, driven by the hybrid 500 at Mirafiori (up 42%) and the Jeep Compass at Melfi, which nearly doubled its volumes with an increase of approximately 93%.

Italgas, seeing buying interest of 0.1%, concluded the launch of a fixed-rate bond issue maturing on April 16, 2032, for a total amount of EUR750 million. The issuance recorded orders exceeding 2.5 times the offer.

On the Mid-Cap, Reply - which gained 7.3% - launched a share buyback program starting April 13. The plan involves the purchase of up to 3.6 million ordinary shares, representing 9.6% of the share capital, for a maximum total value of EUR550 million. The stock rose 7.6% to EUR85.55 per share.

Anima Holding, up 0.2%, recorded negative net inflows of EUR5.63 billion in March, affected by a geopolitical environment that reduced retail investment appetite and market declines impacting assets under management. CEO Saverio Perissinotto highlighted that these effects may prove temporary.

Banca Generali, meanwhile, announced that it closed March with net inflows of EUR725 million, more than doubling the EUR360 million recorded in March 2025, marking a 101% year-on-year growth. The stock is trading up 0.9%.

Ariston Holding fell, shedding 3.3% to EUR3.91 per share.

Among small caps, OPS eCom, with potential buying of 38%, announced that its subsidiary Deva Srl received a binding offer from entrepreneur Massimiliano Morello for the acquisition of 100% of KCT Srl, a logistics and transport company. The offer involves a total consideration of EUR70,000.

Borgosesia - flat at EUR0.70 per share - reported that assets under management stood at EUR724 million in the first quarter of the year, a 4.5% increase from December 31. As of March 31, non-performing loan turnover amounted to EUR4 million, while real estate sales reached EUR1.3 million.

Gas Plus - down 9.7% - closed 2025 with a net profit of EUR19.8 million, up 57% from EUR12.5 million in 2024. Adjusted net profit was EUR19.3 million, up from EUR10.1 million the previous year. The board proposed a dividend of EUR0.25 per share, up from the EUR0.20 distributed for the prior year.

Somec saw a strong start, up 3.3% at EUR14.20 per share.

On Italy Growth, the board of Growens - down 9.8% - approved first-quarter 2026 data, recording an operating profit linked to growth in the CPaaS line and the resilience of the SaaS business, despite currency dynamics and the loss of recurring revenue from a major client.

CleanBnB, which saw no trades, announced that the board reviewed management data for the first quarter of 2026. In the first three months of the year, CleanBnB continued its managed property portfolio activities, consolidated at 3,120 units across more than 100 Italian locations.

Lemon Sistemi, down 0.8%, signed a contract with Alfa Graniti for the construction of two photovoltaic plants in the province of Ragusa, with a total value of approximately EUR1.5 million. Work is expected to begin in 2026, with completion by the end of 2026 for the first plant and within the first half of 2027 for the second.

In New York, during the European evening, the Dow Jones gained 0.6%, the Nasdaq advanced 0.8%, and the S&P 500 rose 0.6%.

In Asia, the Nikkei closed up 1.9% at 56,958.50 points, the Hang Seng rose 0.6% to 25,899.00, while the Shanghai Composite gained 0.5% to 3,986.22 points.

On the currency front, the euro is trading at USD1.1689 from USD1.1699 yesterday evening, while the pound is at USD1.3426 from USD1.3433.

Among commodities, Brent crude is trading at USD97.69 per barrel from USD97.26 yesterday evening, while gold is valued at USD4,755.17 per ounce from USD4,792.00.

On Friday's macroeconomic calendar, a speech by the ECB's Luis de Guindos is scheduled for 1200 CEST.

In the afternoon, at 1430 CEST, the US will release the Consumer Price Index, followed by factory orders at 1600 CEST.

The day concludes at 1900 CEST with US rig count data from Baker Hughes.

Among Piazza Affari companies, results are expected from Destination Italia and Indel B.

By Michele Cirulli, Alliance News reporter

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