Mediobanca Leads Gains; Strong Performance for De' Longhi on the Mid-Cap

(Alliance News) - Major European stock indices continued their upward trajectory on Wednesday, extending the rally of the previous two sessions and setting fresh all-time highs.

Market sentiment remains positive, buoyed by expectations of a swift reopening of the U.S. federal government and growing anticipation of further benchmark rate cuts by the Federal Reserve.

The MIB is currently up 1.2% at 44,969.72 points.

Paris' CAC 40 is advancing by 1.0%, Frankfurt's DAX 40 is up 1.1%, while London's FTSE 100 is down 0.1%.

Among the secondary indices, the Mid-Cap is up 0.5% at 57,041.86, the Small-Cap adds 0.2% to 35,924.78, while the Italy Growth index is down 0.1% at 8,489.58.

Among blue chips, Mediobanca is up 2.6%, marking its fourth consecutive session of gains if confirmed at close.

Recordati rises 3.5%, posting its third straight positive session. On Tuesday, the company reported adjusted net profit for the first nine months of 2025 rose to EUR493.1 million from EUR445.4 million, an 11% increase. Revenues climbed to EUR1.96 billion from EUR1.74 billion, up 12%.

Ferrari is up 2.6% at EUR373.90. Notably, JP Morgan has initiated coverage on the stock with a target price of EUR394.00.

Leonardo - up 0.3% - announced it has completed the monetization of its stake in Avio, which is down 1.4% on the Mid-Cap, now holding 19.3% compared to the previous 28.75%. The company explained the move is fully aligned with the group's strategic priorities and capital allocation objectives.

The board of directors of A2A - down 6.9% - approved results for the first nine months of the year, reporting net profit of EUR581 million, down 19% from EUR713 million in the same period of 2024. Excluding the normalization of hydropower output, the decline narrows to 7%. Revenues reached EUR10.17 billion, up 12% year-on-year, driven by the consolidation of Duereti and higher wholesale energy commodity prices.

On the Mid-Cap, De'Longhi jumps 6.2%, posting its third consecutive positive session. The company reported net profit for the nine months at EUR187.6 million, up 8.0% from EUR173.8 million recorded from January to September 2024. Revenues amounted to EUR2.46 billion, a 10% increase from EUR2.23 billion in the same period last year.

doValue - up 6.3% - reported adjusted net profit for the nine months at EUR11.6 million compared to EUR4.8 million from January to September 2024, marking a 140% increase. Net result including non-recurring items was negative at EUR7.7 million versus a EUR10.3 million loss in the same period last year, representing a 174% year-on-year improvement.

Juventus Football Club - up 0.8% - announced Tuesday that its board has appointed Damien Comolli as the new CEO, ending his previous role as general manager and granting him powers in continuity with the previous structure.

RCS MediaGroup - flat at EUR1.01 - reported Tuesday that it closed the first nine months with net profit of EUR31.6 million, compared to EUR32.1 million as of September 30, 2024. Consolidated revenues for the nine months were EUR583.0 million versus EUR602.3 million in the same period last year.

Italmobiliare - down 3.6% - announced Tuesday that it closed the first nine months of 2025 with aggregate revenues from its industrial portfolio companies at EUR1.19 billion, up 12%, while EBITDA fell 21% to EUR115.2 million. Net Asset Value stood at EUR2.20 billion compared to EUR2.22 billion a year earlier.

Fincantieri - down 4.1% - reported Wednesday that revenues for the first nine months of 2025 grew 21% to EUR6.73 billion from EUR5.58 billion in the same period of 2024. EBITDA rose 40% to EUR461 million from EUR328 million, with an EBITDA margin of 6.9%, up from 5.9% in the prior year and 6.3% at the end of 2024.

On the Small-Cap, Geox is up 6.7%, marking its third consecutive positive session.

B&C Speakers - up 6.4% - reported Tuesday that it closed the first nine months of 2025 with group net profit of EUR8.6 million, down from EUR15.7 million in the first nine months of 2024, which included a one-off positive Patent Box effect of EUR4.0 million.

EPH is up 8.9%, bringing the share price to around EUR0.61.

Sabaf - down 0.7% - reported Tuesday that it closed the first nine months of 2025 with adjusted net profit of EUR9.2 million, down from EUR12.6 million in the first nine months of 2024. Net profit for the period was EUR7.4 million, down from EUR9.6 million in the first nine months of 2024.

Among SMEs, Growens is up 7.2% at EUR2.52 per share, following a 5.4% gain in the previous session.

Industrie Chimiche Forestali advances 5.7% to EUR6.36 per share, after a 1.0% gain in the previous session.

Circle Group - up 1.6% - announced Wednesday the signing of two new strategic projects worth over EUR300,000 under the LogIN Business program, aiming to enhance the digitalization and interoperability of logistics and customs flows in line with the European eFTI Regulation and the objectives of the NRRP.

Trawell Co - up 3.3% - announced Tuesday that the 'Subscription Agreement' for the bond issue reserved for professional investors has been signed, with Equita SIM acting as dealer and Cassa Depositi e Prestiti Spa as the final subscriber. The issue is scheduled for November 14, subject to completion of the required activities, including legal opinions and required guarantees.

In New York, during European evening hours, the Dow Jones gained 1.2%, the Nasdaq slipped 0.2%, while the S&P 500 edged up 0.2%.

In currency markets, the euro is trading at USD1.1570 from USD1.1592 at Tuesday's equity close, while the pound is at USD1.3126 from USD1.3169 on Tuesday evening.

Among commodities, Brent crude is trading at USD64.70 per barrel from USD65.15 per barrel at Tuesday's close, while gold is at USD4,125.73 per ounce from USD4,105.82 per ounce last night.

On Wednesday's economic calendar, ECB's De Guindos is scheduled to speak at 1240 CET. U.S. mortgage data is due from 1300 CET, while at 1800 CET, the EIA's short-term energy outlook will be released.

By Maurizio Carta, Alliance News Reporter

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