(Alliance News) - European stock markets opened little changed on Monday, with investors caught between geopolitical risks and doubts over the independence of the Fed.

In the US, federal prosecutors have launched a criminal investigation into Fed Chair Jerome Powell regarding his June testimony before the Senate Banking Committee, while Powell has accused the Trump administration of pressuring the central bank to align with government policies.

On the geopolitical front, tensions remain high. Protests in Iran continue to intensify, increasing the risk of a broader conflict, with President Trump reportedly considering options for possible intervention.

Thus, the Mib – after closing up 0.1% at 45,719.26 points on Friday evening – is down by 105.00 points.

On Friday, the Mid-Cap ended up 0.8% at 61,021.07, the Small-Cap gained 0.1% to 37,648.91, and Italy Growth also closed up 0.1% at 8,837.63 points.

Paris's CAC 40 is just below parity, Frankfurt's DAX 40 is down 21.20 points, while London's FTSE 100 is down 18.30 points.

At Piazza Affari on Friday, Brunello Cucinelli was boosted, closing up 3.3% at EUR99.42 per share, following a 0.6% gain the previous day and ahead of results due Monday.

Saipem – up 1.4% – announced Friday the resumption of operations for the Perro Negro 7 jack-up in Saudi Arabia starting January 2026. The company had won the contract for Perro Negro 7 in 2011, which was extended in June 2023 for 10 years. The contract was temporarily suspended in 2024 for 12 months. The suspension period will be recovered at the end of the contract, thus extending its duration until 2034.

Leonardo slipped 0.1% to EUR58.48. It is noted that UBS has maintained a cautious stance on Leonardo, keeping its 'neutral' recommendation and raising its target price to EUR60.00 from EUR52.50, in light of the sector's recent rerating and a marginal refinement of its valuation model.

UBS says it is in line with consensus in forecasting "an upside of more than 10% compared to the previous 2027 revenue target in the industrial plan," reinforcing the idea of a structurally more ambitious growth trajectory. During the results presentation, according to the bank, the market may also expect indications of a possible partnership linked to the Boeing 787 program, in line with previous management communications.

Banca Mediolanum – down 0.7% – reported Friday the group's commercial results, highlighting that in 2025 it surpassed historic highs in net inflows, supported by strong market performance and growth in managed assets. Over the full year, total net inflows amounted to EUR11.64 billion, up 11% from EUR10.44 billion in 2024.

Italgas, on the other hand, dropped 2.1% after three bullish sessions. It is noted that Syquant Capital reduced its short position on the stock to 0.37% from the previous 0.58%.

Among the Mid-Caps, Intercos rose 5.0% to EUR11.84 per share, following a 2.7% gain the previous day.

Ferretti gained 2.6%. The company announced Thursday that Ferretti International Holding purchased 205,000 ordinary shares of the company. The shares were acquired at an average price of EUR3.1737, for a total value of approximately EUR651,000.

MAIRE – up 1.7% – announced Thursday it had purchased 742,578 of its own ordinary shares between January 2 and 8. The shares were acquired at an average price of EUR13.2940, for a total value of EUR9.9 million.

Enav fell 1.7% to EUR4.87, subject to profit taking after four bullish sessions.

On the Small-Cap, Geox advanced 3.4% to EUR0.32 per share. The stock – with a free float of about 28% and estimated by MarketScreener with a P/E ratio for the end of 2025 of 6.2x – closed the previous session down 1.1%.

Eurogroup Laminations gained 3.1% to EUR3.38 per share, rebounding after three bearish sessions.

IGD SIIQ – down 2.0% – announced Thursday it had chosen Evogy for an energy efficiency and smart building management project, which represents a piece in the group's broader decarbonization and sustainability plan. Evogy is an Italian tech company specializing in digital systems for optimizing and improving building energy efficiency.

Aeffe, on the other hand, dropped 6.2%. The stock – which has not paid a dividend since 2009 – marked its fourth consecutive bearish candle.

Among SMEs, Farmacosmo gained 3.4%, after a loss of more than 13% the previous day.

Haiki+ gained 0.5%. Notably, the company announced Friday the appointment of Fabio Patti as general manager of Haiki Metals and Carlo Emanuele Pepe as head of institutional relations. Haiki Metals is the group's new business unit dedicated to the production of lead and lead alloys from spent batteries.

Directa SIM – down 0.8% – announced Friday it had reached 137,568 clients, marking a 32% increase over the previous year. The total value of client assets reached EUR9.7 billion, a 47% increase from around EUR6.6 billion in December 2024. As the company explained in a note, the increase in asset value was driven by the acquisition of new clients and strong market performance over the past 12 months.

CleanBnB – down 2.3% – reported management data for FY2025, showing business growth compared to the previous year, despite a market context described by the company as particularly challenging.

Gross booking, representing revenue generated by managed stays, reached EUR51.7 million for the full year 2025, up 5% from EUR49.2 million in 2024. In the fourth quarter, gross booking stood at EUR10.4 million, in line with the fourth quarter of 2024, confirming substantial stability at year-end.

In New York on Friday, the Dow Jones gained 0.5%, the S&P 500 0.7%, while the Nasdaq closed up 0.8%.

In Asia, with the Japanese stock market closed for a holiday, the Hang Seng is up 1.2%, while the Shanghai Composite gained 1.1%.

On the currency front, the euro is trading at USD1.1681 from USD1.1631 at Friday's close of European equities, while the pound is trading at USD1.3445 from USD1.3431 on Friday evening.

Among commodities, Brent is trading at USD63.34 per barrel from USD63.47 per barrel at Friday's close of European equities, while gold is valued at USD4,585.92 per ounce from USD4,504.32 per ounce Friday evening.

On Monday's economic calendar, the Eurozone investor confidence index is due at 1030 CET.

From the US, at 1730 CET, FOMC member Barkin will give a speech.

Among companies, results from Brunello Cucinelli and Growens are expected Monday.

By Maurizio Carta, Alliance News Reporter

Comments and questions to redazione@alliancenews.com

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