(Alliance News) - Milan - unlike other European exchanges - is set to open lower on Wednesday, extending losses for a fourth consecutive session, as investor confidence remains under pressure due to the escalating rhetoric of US President Donald Trump over Greenland and ongoing tensions in global bond markets.
Trump has threatened to impose tariffs on European countries in order to strengthen control over Greenland, heightening geopolitical friction just ahead of his participation in the World Economic Forum in Davos scheduled for today.
On the political-economic front, the European Parliament is reportedly considering suspending the ratification of the EU-US trade agreement signed last July, while Union leaders prepare for an extraordinary summit in Brussels set for Thursday.
These factors are keeping volatility high, with potential repercussions both on capital flows and on the direction of the main European equity benchmarks.
The Mib - after closing down 1.2% at 44,637.18 points on Tuesday - is indicated to fall by 67.50 points ahead of Wednesday's opening.
Among the secondary indices, last night the Mid-Cap lost 1.1% to 60,046.50, the Small-Cap fell by 1.1% to 37,211.07, and Italy Growth contracted by 0.8% to 8,722.60.
In contrast, other European markets are expected to open positive, with the CAC 40 indicated up by 14.40 points, the DAX 40 forecast to rise by 15.00 points, while the FTSE 100 is set to increase by 8.0%.
On Piazza Affari, last night, fewer than ten stocks closed in positive territory: Amplifon up 4.9%, Saipem up 3.0%, Nexi up 0.9%, and Campari up 3.7%.
Buzzi saw a 2.8% decline to EUR48.36 per share.
Stellantis, down 1.7%, is initiating 740 layoffs at its Tychy plant in Poland, nearly a third of its workforce, and is cancelling the third production shift, drawing protests from labor unions.
The company, meanwhile, is aiming for more flexible electrification and is betting on the range extender - Reev - as a transitional solution between traditional and fully electric engines, both in the US and Europe.
Talks continue over the industrial plan and future structure between MPS - which fell 0.5% - and Mediobanca - down 0.2% - but after two days of meetings in Rome, no shared solution has yet emerged.
The atmosphere is described as constructive, but the MPS board has requested that all options be considered, launching a review without indicating a preferred path.
In the telecommunications sector, there may be room for further consolidation. Investment banks are working on integrating PosteMobile into TIM via a capital increase reserved for Poste.
A key step will be TIM's shareholder meeting - at the bottom of the basket with a 2.9% drop - on January 28 regarding the conversion of savings shares into ordinary shares: if approved, Poste's stake - down 0.5% - would fall from 27.3% to 19-20%, creating space for the transaction without breaching the 30% takeover threshold.
On the Mid-Cap, SOL acquired 100% of the share capital of VitalAire Schweiz AG from Air Liquide, a leading provider of home respiratory care in Switzerland. The stock was down 2.5%.
ERG - down 3.3% - is strengthening its presence in the UK through ERG UK Holding Ltd, which has acquired 100% of a portfolio of seven onshore wind farms in Northern England from OnPath Energy Midco Limited.
MARR - down 0.2% - finalized for EUR4.7 million the closing for the acquisition of 100% of Bergel+ Srl, a Lombardy-based company active in foodservice distribution of food and beverage products, with over EUR25 million in sales in 2025.
KKCG Maritime, owned by Czech billionaire Karel Komárek, has launched a partial voluntary takeover bid to increase its stake in Ferretti from 14.5% to 29.9%, remaining below the mandatory takeover threshold. Ferretti shares closed up 2.3%.
Alerion Clean Power, down 1.7%, has approved the issuance of a senior unsecured, non-convertible, non-subordinated bond for a total value of EUR200 million, with the possibility of an additional increase of up to EUR100 million.
Technoprobe performed well, up 1.7% to EUR16.00 per share, while Webuild slipped to the bottom of the basket, losing 4.4%.
Among the small caps, Aeffe, with a 1.9% drop, announced that, regarding the negotiated crisis composition procedure for which the company and its subsidiary Pollini filed an application on October 2, an application has been filed with the Ordinary Court of Bologna to extend the protective and precautionary measures granted by orders of November 28, 2025, and December 30, 2025.
I Grandi Viaggi closed the fiscal year as of October 31, 2025, with consolidated net profit of EUR3.5 million, up from EUR3.3 million the previous year. At the parent company level, net profit was EUR2.17 million, down from EUR2.80 million in 2024. The stock ended the session down 4.8%.
B&C Speakers - down 1.0% - announced that for 2025, based on available preliminary figures not yet audited, consolidated revenues will be EUR99.00 million, down 1.0% from EUR100 million the previous year.
Activist investor Amber Capital has challenged the purchase offer launched by US technology group Crane NXT for Antares Vision, down 0.4%.
According to Amber Capital, the binding mandatory offer for the remaining 41% of the capital, at EUR5.00 per share, does not adequately reflect the company's value.
EHP led the gainers with a 21% increase.
Among SMEs, Diadema Capital - with no trading - announced the early release of the lock-up agreement relating to 250,000 ordinary shares held by Lefin Holdings.
Ecomembrane - down 1.7% - announced that its subsidiary SBS Solar has signed contracts for the design and construction of four photovoltaic plants in the province of Cremona, for a total value of about EUR2.9 million.
TMP Group - down 2.3% - announced a partnership with the Ministry of Foreign Affairs and International Cooperation for the creation of the audiovisual series project "Acque d'Italia - stories of champions and territories", conceived and fully produced by the company.
Telmes, down 4.5%, reported that Integrae SIM, as global coordinator, has partially exercised the greenshoe option in the capital increase granted by the company to Integrae SIM during the placement of its ordinary shares, for 63,000 ordinary shares.
Smart Capital finalized the acquisition of a block of 466,500 Arterra Bioscience shares - up 8.3% - representing 7.01% of the company's share capital, at a price per share of EUR3.20 from reference shareholder Maria Gabriella Colucci.
SG Company - up 3.5% - reported that last year's consolidated revenue was EUR50.1 million, up 29% from September 30, which was EUR38.7 million, and up 45% from the full year 2024, which was EUR34.6 million.
This result allows the group to reach, 12 months in advance, the revenue target of the 2024–2026 industrial plan of EUR50.3 million.
In New York, during the European evening, the Dow Jones fell 1.8%, the Nasdaq closed down 2.4%, while the S&P500 retreated 2.1%.
Among Asian markets, the Nikkei dropped 0.4%, the Shanghai Composite closed just below parity, while the Hang Seng is up 0.1%.
On the currency front, the euro is trading at USD1.1718 from USD1.1734 at Tuesday's European equity close, while the pound is trading at USD1.3436 from USD1.3463 on Tuesday evening.
Among commodities, Brent is trading at USD64.00 per barrel from USD64.77 per barrel on Tuesday, while gold is valued at USD4,838.00 an ounce from USD4,738.47 an ounce last night.
On Wednesday's economic calendar, at 1300 CET the US mortgage report is due, while at 1430 CET President Donald Trump is scheduled to speak.
Central banks take the stage at 1515 CET in the UK with the BoE deputy governor; at 1930 CET, with a speech from the president of the Bundesbank.
No significant events are scheduled at Piazza Affari.
By Maurizio Carta, Alliance News Reporter
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