Mib holds above 48,300; Middle East remains in focus

(Alliance News) - Major European indices opened in positive territory on Friday - with the exception of London - as market participants continue to monitor developments in the Middle East amid prospects for a more lasting truce between the US and Iran and a ceasefire between Israel and Lebanon.

Consequently, the FTSE Mib is up 0.3% at 48,185.42, the Mid-Cap has risen 0.4% to 57,936.37, the Small-Cap is up 0.7% at 35,132.72, while Italy Growth gained 0.2% to 8,758.03.

London's FTSE 100 is down 0.1%, the DAX 40 shows a 0.1% increase, while the CAC 40 in Paris is up 0.2%.

Returning to Milan, FinecoBank leads the blue-chip index, rising 2.1%. Stellantis is also performing well, up 1.8%, after signing a five-year strategic collaboration with Microsoft aimed at accelerating its digital transformation through the co-development of advanced capabilities in artificial intelligence, cybersecurity, and engineering.

Mediobanca rounds out the top three, rising 1.6%.

Fincantieri - down 0.3% - announced on Thursday that it has signed an agreement with Princess Cruises for the construction of three new Voyager-class cruise ships powered by liquefied natural gas.

The order was formalized at the Seatrade Cruise Global event currently taking place in Miami, according to the company's statement.

The units will be built at Fincantieri's Monfalcone shipyard, with deliveries scheduled for 2035, 2038, and 2039 respectively.

Leonardo is up 0.2% in early trading.

Among the laggards, Saipem sits at the bottom, falling 1.0%. Utilities are also down, with Terna, A2A, and Hera shedding 0.6%, 0.5%, and 0.3% respectively.

Prysmian - trading slightly lower at EUR120.95 per share - announced on Thursday that its shareholders' meeting, convened to approve the 2025 financial statements, adopted several other significant resolutions.

Specifically, the assembly renewed the authorization for the purchase and disposal of treasury shares, allowing for the acquisition, in one or more tranches, of a maximum number of shares not exceeding 10% of the share capital. The authorization lasts 18 months for purchases, while no time limit was set for disposals.

On the mid-cap segment, OVS jumped 5.9% after announcing on Thursday that it closed the fiscal year ending January 31 with an adjusted net profit of EUR89.4 million, up 15% from EUR77.9 million the previous year.

Furthermore, the board of directors resolved to propose a dividend of EUR0.14 per share to the shareholders' meeting, a 27% increase compared to the EUR0.11 paid in 2024.

Net sales amounted to EUR1.75 billion, up 7.0% from EUR1.63 billion in the previous fiscal year.

Pirelli & C - down 0.4% - announced on Thursday that the board will propose a total dividend of EUR0.34 per share, consisting of an ordinary dividend of EUR0.24 (approximately EUR260 million) and a special dividend of EUR0.10 (approximately EUR109 million), totaling roughly EUR369 million, payable from July 22.

On the strategic front, Pirelli confirmed its 2026 targets despite uncertainties related to the crisis in the Middle East.

Mondadori is down 0.5%. The group announced that, following the submission of its offer and discussions with the liquidator, a contract has been signed for the acquisition of Hoepli's school publishing business unit. The transaction is expected to close within the first half of the current fiscal year, subject to the fulfillment of specific conditions precedent.

On the Small-Cap index, FNM is flat at EUR0.538 per share. The company announced on Thursday that its board of directors approved the purchase of 20 new trains for the Lombardy regional rail service, as part of the rolling stock modernization process used by Trenord.

The operation involves a total investment of approximately EUR170 million, executed under existing Framework Agreements with suppliers. The new trains will subsequently be leased to Trenord under the same economic and contractual terms applied to trains already in service, for the remaining duration of the Service Contract, which expires in 2033.

BasicNet is up 0.7%. The company announced on Thursday that the shareholders' meeting formalized the closure of the previous share buyback plan approved on April 17, 2025, under which the company purchased nearly 1.7 million shares at an average price of EUR7.294, for a total outlay of EUR12.3 million.

SIT - yet to see any trades - approved its accounts on Wednesday, closing the 2025 fiscal year with a net profit of EUR1.3 million, an improvement over the EUR31.6 million loss recorded in 2024.

Consolidated revenues reached EUR319.1 million, up 6.5% compared to the previous year and 7.8% at constant exchange rates.

Among SMEs, Ecomembrane rose 4.0%. The company announced on Thursday that its subsidiary SBS Solar entered into a contract with Photovoltaicum, a renewable energy investment vehicle, for the construction of a PV plant valued at EUR4.8 million.

The amount was revised upward from the EUR4.5 million initially announced last September.

SosTravel.com - down 0.3% - announced on Wednesday that it signed a commercial agreement with the tour operator Itaka Hungary for the marketing of the new "AmareClub Acqua di Mare Hotel & Resort," a four-star resort located in northern Sardinia.

Svas Biosana - untraded - announced its 2025 results on Wednesday, closing the year with a profit of EUR6.8 million, up 15% from the EUR5.9 million recorded as of December 31, 2024. The board will propose a dividend of EUR0.20 per share, down from EUR0.25 last year.

In New York, the Dow Jones closed up 0.1% at 48,587.72 points, the Nasdaq gained 0.4% to 24,102.70 points, while the S&P 500 rose 0.3% to 7,041.28.

In Asia, the Nikkei fell 1.8% to 58,475.90 points, the Hang Seng shed 1.1% to 26,106.55, and the Shanghai Composite slipped 0.1% to 4,051.43 points.

On the currency front, the euro is trading at USD1.1781 from USD1.1776 on Thursday evening, while the pound is at USD1.3523 from USD1.3531 yesterday evening.

Among commodities, Brent crude is trading at USD98.40 per barrel from USD98.30 yesterday evening, while gold is valued at USD4,803.31 per ounce from USD4,803.20 yesterday evening.

Friday's macroeconomic calendar includes Italy's trade balance data at 1000 CEST.

From the US, the Fed's Daly will deliver a speech at 1730 CEST, followed by Barkin at 1815 CEST and Waller at 2000 CEST.

On the corporate side, results are expected from Beewize, Class Editori, and Seri Industrial.

By Claudia Cavaliere, Alliance News reporter

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