MIB hits 48,900 before slowing down; Avio soars

(Alliance News) - The FTSE MIB continued its upward momentum above the 48,700 level on Tuesday - albeit slowing from the intraday high of over 48,900 points - in a context dominated by the reassessment of geopolitical risk and the subsequent normalization of risk premiums.

Market sentiment was bolstered by the easing of tensions between the US and Iran, after President Donald Trump postponed planned military action following pressure from Gulf countries. This dynamic triggered a retreat in oil prices, reducing implicit inflationary pressures and improving the overall outlook for European risk-sensitive assets.

On the monetary front, the market continues to price out Federal Reserve rate cuts for 2025, with a progressive repricing toward a higher-for-longer scenario and an increased probability of a further restrictive move by year-end.

Consequently, the FTSE MIB rose 0.1% to 48,716.39 points, with the put/call ratio at 1.09.

London's FTSE 100 is up 0.6%, Paris's CAC 40 rose 0.8%, while Frankfurt's DAX 40 gained 1.2%.

Among the smaller lists in Piazza Affari, the Mid-Cap gained 0.2% to 60,558.53, the Small-Cap rose 0.3% to 34,437.64, while Italy Growth is up 0.2% at 8,842.26.

On the MIB, Avio - leading the pack with a 6.2% gain - announced on Tuesday that it successfully launched the scientific satellite Solar Wind Magnetosphere Ionosphere Link Explorer 'Smile' for the European Space Agency and the Chinese Academy of Sciences from the European Spaceport in French Guiana using a Vega C launcher.

Fincantieri also saw a boost, appreciating 4.4% to EUR11.63 following a 0.6% gain in the previous session.

Leonardo is moving forward by 3.4% after a 1.9% green finish in the previous session.

UniCredit contracted by 0.8%. Commerzbank's top management formally rejected UniCredit's offer, judging it to lack an adequate premium and a credible strategic plan. According to the German management, the standalone 'Momentum 2030' plan would guarantee more value for shareholders.

Commerzbank also disputes the synergy assumptions put forward by UniCredit, deemed speculative and risky for customers, employees, and financial stability, highlighting critical issues related to staff cuts, IT integration, and UniCredit's exposure to Russia.

Piazza Gae Aulenti has increased its exposure through derivatives, maintaining a 26.8% direct stake and bringing its total potential holding to 38.9%.

At the bottom of the list, Prysmian is shedding 2.2%, marking its third bearish session with the price hovering around EUR144.70 per share.

In the mid-cap segment, Reply advanced 5.2% to EUR104.10, positioned for its fourth consecutive bullish session.

Alerion advanced 4.1%, after two sessions closed with bearish candles, bringing its year-to-date gain to over 50%.

Selling pressure hit BFF Bank, which is stepping back by 3.8%, its third consecutive bearish candle. An internal investigation revealed 'serious deficiencies and irregularities' at BFF Bank, an institution specialized in factoring, explaining the intervention of the Bank of Italy, which in March appointed two commissioners to the board.

As reported by La Repubblica on Tuesday, the critical issues concern alleged incorrect accounting between 2019 and 2023 to generate undue capital gains on default interest, deficiencies in internal controls, and managerial behavior inconsistent with prudent management.

Profit-taking hit Technoprobe, which shed 3.4% after three sessions in which it increased its market cap by over 45%.

On the Small-Cap, Softlab advanced 11% following a 22% rise the previous day, ahead of results due on Thursday.

Somec advanced 3.6% after three bearish sessions, bringing the price to the EUR17.10 per share area. The company announced on Tuesday that it had acquired, through its Horizons division, a new contract worth a total of EUR56 million.

FILA - down 0.3% - announced on Monday that, on May 15, it purchased 25,000 of its own ordinary shares at an average price of EUR8.9262 each for a total value of EUR223,155.84.

The board of directors of EuroGroup Laminations - down 0.5% - on Monday approved the results for the first quarter, which closed with a net loss of EUR3.1 million compared to a loss of EUR2.1 million recorded in the same period of 2025. During the period, group revenues stood at EUR203.5 million, down 3.4% year-on-year at constant exchange rates and 8.0% compared to EUR221.1 million in the first quarter of 2025 at current exchange rates, in a macroeconomic and market context still defined as complex by the company.

Among SMEs, Giglio.com advanced 6.3%, bringing the price to the EUR0.60 area after a flat session the day before.

Execus advanced 4.6% to EUR1.16 per share, after two bearish sessions.

Pattern - up 1.7% - announced on Monday that the board approved the launch of a share buyback and disposal program, in execution of the shareholders' resolution of April 20. The plan will start on May 19 and remain in effect until December 31, 2026, with a maximum value set at EUR500,000.

Next Geosolutions - in the green by 1.6% - announced on Monday that it had been awarded a contract with TenneT TSO BV for a total of approximately EUR9 million.

Simone, however, retreated by 6.8%, following a 0.8% decline the previous day.

In pre-market trading on Wall Street, the Dow shed 0.1%, the S&P is down 0.2%, while the Nasdaq retreated 0.4%.

On the currency front, the euro changed hands at USD1.1617 from USD1.1639 on Monday evening, while the pound traded at USD1.3394 from USD1.3365 on Monday.

Among commodities, Brent traded at USD110.31 per barrel from USD110.57 per barrel on Monday evening, while gold is worth USD4,544.94 per ounce from USD4,534.00 per ounce at yesterday's close.

On Tuesday's economic calendar, from the US, the ADP employment report is due at 1415 CEST, while weekly oil inventory data will be available at 2230 CEST.

By Maurizio Carta, Alliance News reporter

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