(Alliance News) - On Thursday, the MIB turned positive by mid-session, trading around the 49,600 level - following two consecutive lower closes - within a context still dominated by a progressive deterioration in global risk-on sentiment.

Fresh reports of further tensions between the US and Iran have reignited the risk premium component.

On the macro front, the Eurozone Economic Sentiment Indicator rose marginally to 93.5 in May, though it remains at historically depressed levels near multi-year lows. The figure, slightly above expectations, nevertheless confirms a fragile confidence outlook consistent with a phase of cyclical stagnation, where macro risk perception remains high and unresponsive to signs of cyclical stabilization.

Overall, the decline in the Milanese benchmark fits into a selective risk-on dynamic, where the combination of geopolitical shocks, energy uncertainty, and weak Eurozone growth continues to weigh on risk appetite for assets.

Consequently, the FTSE MIB is rising 0.1% to 49,641.34 points, the Mid-Cap is moving in the red by 0.2% at 61,674.84 points, the Small-Cap is shedding 0.3% at 35,402.96 points, while Italy Growth marks a 0.4% gain at 9,022.24 points.

London's FTSE 100 is shedding 0.7%, the CAC 40 in Paris is retreating 0.4%, while the DAX 40 in Frankfurt is posting a 0.2% loss.

Returning to Milan, on the MIB, among the few gainers is Avio, which pushed its price up 4.6%, heading for its eighth consecutive bullish session.

Strength is also seen in Leonardo, which is gaining 4.0% to EUR53.69 per share, following a 1.9% drop in the previous session.

Unipol is stepping back 2.3% to EUR21.36 per share, marking its third consecutive bearish candle.

FinecoBank is shedding 1.6%, after a 0.6% gain in the previous session, with the price hovering around EUR20.84 per share.

Ferrari advances 1.3% to EUR287.45 per share. Notably, Goldman Sachs has revised its target price on the stock upward to EUR383.00 from the previous EUR382.00.

Nexi eased 0.1% to EUR3.49 per share. Regarding the stock, Citigroup raised its target for Nexi to EUR3.70 from EUR3.40.

Lottomatica's buyback continues, with the stock retreating 0.7%. The company announced on Wednesday that it purchased 276,000 of its own ordinary shares between May 18 and 22 at an average price of EUR25.2283 each, for a total value of EUR7.0 million.

On the mid-cap segment, BFF is shedding 2.7% to EUR2.59 per share, following an 11% gain in the previous session.

d'Amico is shedding 3.2%, heading toward its sixth session in a bearish trend.

Salvatore Ferragamo is advancing 9.6%, following a 5.7% gain in the previous session.

Intercos advances 2.3% to EUR12.50 per share, after a 1.2% gain in the previous session.

MAIRE advances 1.3%, after two bearish sessions, with the price around EUR14.40 per share.

Ariston Holding - up 3.5% - announced Wednesday that it exercised its call option to acquire the remaining 49% of Chromagen Australia Pty, in which it already held a 51% stake and fully consolidated, thus reaching 100% of the share capital.

The consideration for the remaining 49% stake amounts to AUD33.6 million, or EUR20.4 million, as defined in the agreement signed on May 31, 2023, with minority shareholders. The transaction was settled in cash using Ariston Group's existing financial resources, with no impact on net financial debt, the company specified.

On the Small-Cap, Trevi Finanziaria Industriale advanced 4.7%, after a 1.3% gain in the previous session.

Class Editori advances 6.3%, after a 2.5% drop in the previous session.

Aedes - up 3.8% - announced the acquisition, through its subsidiary Immobiliare Langhe, of a residential property in Courmayeur, in the Dolonne area, for EUR1.6 million plus ancillary costs estimated at approximately EUR150,000. The company plans extraordinary renovation works to create energy class A4 apartments, with estimated revenues between EUR5.2 million and EUR6.2 million.

The Italian Sea Group is shedding 8.1%, after two sessions in which it gained approximately 22%.

Among SMEs, Growens is shedding 4.1%, bringing the price to EUR2.10 per share.

Telmes - up 2.1% - announced Thursday that it closed the first quarter with revenues of EUR1.9 million from EUR1.6 million as of March 31, 2025. Furthermore, the company announced the start of a structural transformation process that will lead the group from a traditional operating model to an AI-centric, data-driven organization capable of intelligently automating its key processes.

Siav - up 7.6% - announced Thursday that it concluded the subscription, via Accelerated Bookbuilding, of a share capital increase for a maximum amount of EUR2.5 million, including share premium, through the issuance of a maximum of 1.1 million new ordinary shares of the company.

In detail, the capital increase involved a total of 1.1 million new ordinary shares, equal to 10.80% of Siav's new share capital, at a unit price of EUR2.25, for a total value of EUR2.5 million.

Tenax International - down 4.2% - announced that it closed 2025 with a production value of EUR15.7 million from EUR23.4 million as of December 31, 2024. The company ended the year with an adjusted net loss of EUR1.8 million from an adjusted net profit of EUR600,000 in 2024.

On Wall Street last night, the Dow Jones gained 0.4%, the Nasdaq 0.1%, while the S&P closed slightly above parity.

On the currency front, the euro is trading at USD1.1615 from USD1.1618 on Wednesday evening, while the pound exchanges at USD1.3401 from USD1.3438 on Wednesday evening.

Among commodities, Brent is trading at USD95.73 per barrel from USD100.30 on Wednesday evening, while gold is worth USD4,395.09 per ounce from USD4,507.56 at Wednesday's close.

Thursday's economic calendar includes, at 1430 CEST, from the US, Gross Domestic Product and jobless claims data, in addition to the PCE figure.

At 2230 CEST, the Fed's weekly balance sheet is due.

By Maurizio Carta, Alliance News reporter

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