Markets Expected to Open Higher: Brent Drops Below $90

(Alliance News) : On Friday, major European indices are expected to open in positive territory as markets digest the European Central Bank's latest interest rate decision. The move has been interpreted as a signal of confidence in the Eurozone economy's resilience. Meanwhile, Donald Trump has indicated that a deal with Iran to end the conflict in the Middle East may be close at hand.

Brent crude fell below the $90 threshold following the news.

According to IG futures, the FTSE MIB is expected to open up 1.5% or 762.5 points, after closing Thursday up 1.0% at 50,504.74.

The CAC 40 in Paris is projected to rise 1.6% or 127.1 points, Frankfurt's DAX 40 is expected to gain 1.5% or 372.8 points, while London's FTSE 100 is forecast to open up 0.9% or 87.0 points.

Among Milan's secondary indices on Thursday evening, the Mid-Cap rose 0.6% to 61,920.24, the Small-Cap fell 0.1% to 35,710.63, and Italy Growth shed 0.4% to 9,102.95.

Among the blue chips on Piazza Affari, Saipem led the day, finishing up 5.8% and building on the previous session's modest 0.8% gain.

Avio showed strength, rising 4.8% to €38.43 per share after three consecutive bearish sessions. Notably, Voleon Capital Management reduced its short position on the stock to 0.99% from 1.08%.

STMicroelectronics climbed 5.7% following two down sessions, closing at approximately €64.83 per share.

Fincantieri, which rose 3.7%, announced Thursday that its Norwegian subsidiary Vard signed a contract to design and build an advanced fishery vessel for Rosund Drift AS. The Alesund-based operator is part of an established consortium in the deep-sea fishing industry.

UniCredit, which slipped 0.3%, continues to receive positive analyst coverage despite uncertainties surrounding ongoing consolidation efforts between Germany and Italy.

In a note by Delphine Lee, JPMorgan observed that the bank led by Andrea Orcel is nearing effective control of Commerzbank, holding a stake of approximately 41% as of June 10. Analysts suggest the market expects an improved offer to further increase its holding in the German lender.

The firm believes a revised bid would make financial sense, particularly if it allows UniCredit to exceed a 60% stake, a threshold considered significant for return on invested capital.

Telecom Italia shed 0.4% after a recent winning streak. The company announced Thursday that it received a refund of just over €1bn related to a 1998 concession fee. This follows a Court of Cassation ruling last December that finalized the return of the funds, ending a dispute lasting over twenty years.

The total amount includes the original fee of over €500m, plus inflation adjustments and accrued interest.

In the mid-cap segment, Moltiply Group saw strong buying, closing up 4.0% after two bearish sessions.

Technoprobe also performed well, rising 4.6% and reversing a six-session bearish trend.

Ferretti closed flat at €3.09 per share after spending much of the session in the green. KKCG Maritime announced it has filed an appeal with the Court of Bologna against resolutions approved at Ferretti's May 14 shareholders' meeting, seeking an injunction to suspend them.

The group's second-largest shareholder specifically challenges the vote cast by Ferretti International Holding, through which Weichai holds 39.5% of the capital, arguing that those voting rights should have been suspended under Golden Power regulations.

LU-VE gained 3.3% to €66.60 per share. Intesa Sanpaolo reiterated its 'buy' rating on the stock with a target price of €70, compared to a market price of €64.50 on June 10.

Intesa Sanpaolo analysts believe LU-VE emerged stronger from the ISMO event in Madrid, bolstered by first-quarter results and the award of its first major multi-year data center contract with a hyperscaler, valued at over €100m over the first two years.

On the Small-Cap index, Beewize appreciated 5.4% after a 2.6% loss in the previous session. The stock, which has a market capitalization of just over €4.1m, closed at approximately €0.39 per share.

Tesmec rose 4.3%. The stock, which has not paid a dividend since 2016, followed up on the previous day's 10% gain.

The Italian Sea Group fell 14%, rebounding after seven consecutive down sessions to settle at €1.51 per share.

Eurotech dropped 3.5%, marking its third consecutive bearish candle to finish at €1.25. On the MarketScreener platform, two analysts have set an average target price of €1.175, suggesting the stock remains undervalued with a mean consensus of 'buy'.

Among SMEs, Fope surged over 11% to €57.00 per share, hitting a new 52-week high of €57.50 during trading.

FAE Technology, up 4.2%, announced Thursday the development of 'SuperFAE', a new industrial hub in Cene, Bergamo. The site is set to become the group's primary production facility and one of Italy's largest plants dedicated to high-tech electronics. The project involves the redevelopment of the former Zambaiti cotton mill and the centralization of operations currently spread across the Gazzaniga and Vertova plants.

Poligrafici Printing, which did not trade today and was last priced at €0.48, announced Wednesday that its shareholders' meeting appointed a new board of directors for the 2026 and 2027 fiscal years, serving until the approval of the 2028 financial statements. The appointments were based on the sole list submitted by the controlling shareholder, Monrif. Andrea Leopoldo Riffeser Monti was named chairman, while Nicola Natali will serve as CEO.

Franchetti, down 5.3%, announced Wednesday that its board has proposed a mandate to an extraordinary shareholders' meeting, tentatively scheduled for July 5, to increase share capital by up to €10m, including any share premium, to be exercised within three years.

In New York on Thursday, the Dow closed up 1.9% at 50,848.75, while the Nasdaq rose 2.5% to 25,809.66 and the S&P 500 gained 1.8% to 7,394.30.

In Asian markets, the Hang Seng is currently up 1.6%, the Shanghai Composite has gained 1.2%, and the Nikkei is up 2.8%.

In currency markets, the euro is trading at $1.1566, up from $1.1520 on Thursday evening, while the pound is at $1.3409, up from $1.3338 yesterday.

In commodities, Brent crude is trading at $88.51 per barrel, down from $93.19 on Thursday evening, while gold is valued at $4,204.62 per ounce, up from $4,079.48 at yesterday's close.

Friday's macroeconomic calendar includes French inflation data at 0845 CEST, followed by Spanish inflation figures at 0900 CEST.

From the US, Baker Hughes rig count data is due at 1900 CEST, followed by the customary Friday release of the COT Report at 2130 CEST.

No major corporate announcements are expected from Piazza Affari companies today.

By Claudia Cavaliere, Alliance News reporter

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