Markets Expected to Fall, Except for London

(Alliance News) - Major European markets are expected to open lower on Thursday—with the exception of London—as the conflict between the US-Israel and Iran continues to escalate in the Persian Gulf.

Before the opening, Nexi and Snam reported their financial results and unveiled their upcoming strategic plans.

Nexi closed 2025 with revenues of EUR3.59 billion, up 2.1% from EUR3.51 billion for the year ending December 2024.

The group's attributable profit increased by 7.2%, rising to EUR783.3 million from EUR730.4 million recorded the previous year.

In the 2028 plan, the company is targeting sustained growth in digital payments, strong cash generation, and increased shareholder remuneration.

Snam ended 2025 with results "well above guidance" and an adjusted group net profit for 2025 of EUR1.42 billion, up more than 10% or EUR133 million from EUR1.26 billion the previous year.

For 2030, investments will total EUR14 billion and will follow three main directions: industrial growth, active management of the equity portfolio, and an asset rotation program.

As a result, the FTSE Mib is indicated down by 2.5 points or fractionally in the red by IG futures after closing Wednesday up 2.0% at 45,336.88.

Across Europe, London's FTSE 100 is seen up by 18.5 points or 0.2%, Paris' CAC 40 is indicated down by 28.2 points or 0.4%, and Frankfurt's DAX 40 is expected to fall by 34.7 points or 0.1%.

Among other Milan indices, on Wednesday evening, the Mid-Cap rose 1.8% to 57,245.23, while the Small-Cap advanced 1.1% to 35,119.65 and the Italy Growth gained 0.8% to 8,472.69 points.

On Piazza Affari, Amplifon fell 2.2% to EUR12.12 per share, marking its fourth consecutive losing session. Notably, on Tuesday, Capital Fund Management increased its short position on the stock to 0.60% from 0.51%. Ilex Capital Partners (UK) also raised its short to 1.33% from 1.22%.

Lottomatica showed strength, advancing 15%, with JPMorgan, Berenberg, and Goldman Sachs all raising their target prices for the stock.

Stellantis gained 4.8% after two losing sessions, with its price hovering around EUR6.49 per share.

Banca Popolare di Sondrio also performed well, rebounding 5.0% after three consecutive negative sessions.

FinecoBank—up 0.1%—presented its industrial plan for 2026-2029, "to build a new cycle," as stated by CEO Alessandro Foti. The company expects revenue growth driven by all business areas, with the financial margin "expected to grow thanks to increased deposit gathering," investing with "solid annual growth in managed assets," brokerage "with record revenues," and banking with "stable commissions."

On the Mid-Cap, Ariston Holding surged after two heavy losing sessions, bringing its daily gain to 7.9%. On Tuesday, the company reported closing 2025 with net profit of EUR132.4 million compared to EUR2.5 million in 2024, while adjusted net profit stood at EUR112.9 million versus EUR89 million as of December 31, 2024.

Additionally, the closing of the Riello acquisition will take place by the end of the first half of the current year, according to Il Corriere della Sera, citing a statement from CEO Maurizio Brusadelli.

Avio, meanwhile, jumped 9.3% to EUR37.50 per share—the best performer on the list—after three losing sessions. Notably, PDT Partners raised its short position on the stock to 0.71% from 0.60%, while Voleon Capital Management increased its short to 1.32% from 1.15%.

Ferretti closed flat at EUR3.70. The voluntary partial takeover bid launched by KKCG Maritime on Ferretti starts March 16 and ends April 13, with daily sales at 1.1%. The holding company of billionaire Karel Komárek aims to increase its stake from 14.5% to 29.9% of the capital, without exceeding the threshold that would trigger a mandatory full takeover bid.

MARR fell 1.9%, marking its third consecutive losing session, with the price around EUR8.63 per share.

On the Small-Cap, Eurotech ended up 6.7% to EUR1.06, reversing course after two losing sessions.

TXT e-solutions rose 5.4%, continuing its upward streak and closing around EUR28.10.

I Grandi Viaggi appreciated by 4.2% after two negative sessions, with a final price of EUR2.22 per share.

Gas Plus—with a bearish candle of over 12%—was subject to profit taking after three sessions of gains fueled by the sharp rise in gas prices.

Among SMEs, Lucisano Media Group fell 5.0% to around EUR1.15, after a flat previous session.

Franchetti advanced 12% after three negative sessions, closing with a price around EUR5.60 per share.

Mare Engineering Group—up 9.4%—announced Wednesday that it had exercised the irrevocable purchase offer for minority stakes corresponding to 49% of EasyGo's share capital.

EasyGo, a vehicle established in partnership with Borgosesia and already 51% owned by Mare Group, completed the acquisition of 100% of EMM Systems, a company specializing in the development of digital platforms and systems for industrial processes.

Ubaldi Costruzioni appreciated by 6.8%, rebounding after two losing sessions in which it had dropped about 12%.

In Asia, the Nikkei closed up 1.9% at 55,278.06, the Shanghai Composite rose 0.6% to 4,108.57, and the Hang Seng gained 0.5% to 25,371.38.

In New York, the Dow closed up 0.5% at 48,739.41, the Nasdaq gained 1.3% to 22,807.48, and the S&P 500 rose 0.8% to 6,869.50.

On the currency front, the euro is trading at USD1.1604 from USD1.1602 at Wednesday's European stock market close, while the pound is trading at USD1.3336 from USD1.3326 last night.

Among commodities, Brent is trading at USD83.51 per barrel from USD80.94 per barrel on Wednesday evening, while gold is valued at USD5,178.46 per ounce from USD5,112.86 the previous day.

As for Thursday's macroeconomic calendar, at 0930 CET, construction PMI data is expected from France, Italy, and Germany.

At 1000 CET, still from Italy, retail sales data will be released.

At 1330 CET, from the US, attention turns to the trade balance figure, while at 1430 CET, initial jobless claims data will be available.

At 2130 CET, the Federal Reserve's weekly balance sheet will be published.

Among companies, results are expected from Ascopiave, Azimut, Piaggio, and Mediobanca, among others.

By Claudia Cavaliere, Alliance News reporter

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