(Alliance News) - Risk-off sentiment remains the dominant theme at the opening of the Milan stock exchange, with the MIB expected to trade lower in early deals, weighed down by further interest rate repricing in money markets.

According to current money market pricing, traders continue to discount a restrictive path from the ECB, with approximately three rate hikes expected by year-end. Specifically, futures assign a nearly 90% probability to a first move as early as the June meeting.

Consequently, the FTSE MIB - after closing 0.9% lower at 48,669.05 yesterday evening - is called to open down 42.50 points ahead of Tuesday's bell.

London's FTSE 100 is seen up 31.00 points, Paris's CAC 40 is expected to rise 16.00 points, while Frankfurt's DAX 40 is indicated 76.00 points higher.

Among Piazza Affari's secondary indices on Monday, the Mid-Cap shed 0.4% to 60,443.14, the Small-Cap fell 0.8% to 34,333.91, while Italy Growth dropped 0.8% to 8,826.36.

On the MIB on Monday, Prysmian featured among the laggards, losing 3.4% following a 2.1% decline in the previous session.

Buzzi shed 2.2%. Of note, Capital Fund Management increased its short position on the stock to 0.70% from 0.60%.

Eni closed 3.2% higher, rebounding from a 0.3% loss in the previous session, supported by continued strength in crude prices.

Furthermore, the company launched a placement of new five-year and nine-year fixed-rate bonds aimed at institutional investors under its Euro Medium Term Note programme.

The bond issuance follows the board of directors' resolution on April 2 and aims to maintain a balanced financial structure, with proceeds to be used for general corporate purposes.

Amplifon - up 1.4% - announced on Monday that it has signed an agreement to sell its Indian business to Hearzap, an established operator in the Indian market. The Indian operations, comprising a network of approximately 115 direct clinics and 460 employees, generated revenues of around EUR12 million in 2025, a figure described by the company as 'marginal compared to total group revenues'. The asset had a negative impact on consolidated Ebitda.

BPER Banca shed 0.8% to EUR11.55. Deutsche Bank revised its recommendation on BPER Banca to 'hold' from 'buy' with a target price of EUR13.40.

Recordati closed flat at EUR50.55 after spending much of the session in negative territory. Barclays raised its target price to EUR50.00 from EUR48.00.

On the mid-cap segment, Technoprobe surged 9.1%, marking its third consecutive bullish session.

Interpump climbed 5.5% to EUR35.20 per share. Kepler Cheuvreux upgraded the stock to 'buy' with a target price of EUR43.00.

The board of Tamburi Investment Partners - up 0.5% - approved the consolidated interim report as of March 31 on Friday, closing the first three months of the year with a pro-forma net profit of EUR23.5 million, approximately four times higher than the Q1 2025 result. Consolidated shareholders' equity as of March 31 stood at approximately EUR1.41 billion.

El.En. - down 1.7% - announced on Friday that it closed the first quarter with consolidated revenue of EUR145.6 million, up 3.3% from EUR140.9 million as of March 31, 2025. Ebitda for the period reached EUR23.7 million from EUR21.7 million in 2025, representing 9.0% growth.

On the Small-Cap index, Pininfarina showed strength, closing 3.9% higher after two bearish sessions.

Beewize closed up 3.2% at EUR0.38 per share, following a 2.8% gain in the previous session.

Aeroporto Guglielmo Marconi di Bologna - up 1.4% - reported on Friday that it closed the first quarter with a profit of EUR2.6 million, down from EUR3.1 million as of March 31, 2025. Quarterly revenues rose to EUR42.0 million from EUR36.2 million in the same period last year.

IRCE - up 3.6% - announced on Friday that it closed the first quarter with consolidated revenues of EUR105.8 million, up 3.0% from EUR102.7 million as of March 31, 2025. Quarterly profit amounted to EUR3.8 million, up from EUR2.0 million in the first quarter of last year.

TXT e-solutions - down 0.7% - announced on Friday that it had completed the sale of part of its stake in Banca del Fucino for total proceeds of EUR7.9 million. The transaction involved 3.6 million shares, purchased in 2021 at EUR1.85 per share and sold at EUR2.20 per share. The company noted that the sale price is substantially aligned with the book value.

Among SMEs, Lemon Sistemi closed up 10% at EUR1.85 per share, rebounding from a 7.2% loss in the previous session.

Adventure - down 8.5% - reported closing 2025 with a loss of EUR170,000 compared to a profit of EUR63,000 in 2024. Revenues amounted to EUR16.7 million, up from EUR11.2 million the previous year.

Circle shed 6.5%, following a 3.6% decline the day before.

Innovatec fell 5.3% after five bullish sessions, ending at EUR0.17 per share.

In the US - during the European night - the Dow rose 0.3%, the S&P closed down 0.1%, while the Nasdaq finished 0.5% lower.

In Asian markets, the Nikkei is currently down 0.7%, the Shanghai Composite is up 0.5%, and the Hang Seng is up 0.3%.

On the currency front, the euro is trading at USD1.1645 from USD1.1639 on Monday evening, while the pound is at USD1.3415 from USD1.3365 on Monday.

Among commodities, Brent crude is trading at USD109.81 per barrel from USD110.57 on Monday evening, while gold is priced at USD4,547.50 per ounce from USD4,534.00 at yesterday's close.

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

On the Piazza Affari corporate calendar, results are expected from Itway and Officina Stellare.

By Maurizio Carta, Alliance News reporter

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