Mib opens higher; strength in banking stocks

(Alliance News) - Milan - like other European markets - opened higher on Wednesday, with the MIB index trading above 44,200 points.

Investors have scaled back expectations of further easing by the ECB after officials signaled that additional cuts may not be necessary in 2026.

President Christine Lagarde indicated that the central bank will raise its growth forecasts for the eurozone, as the economy shows signs of resilience amid ongoing trade tensions.

As a result, the FTSE MIB is up 0.7% at 44,284.75 points.

Among the smaller indices, the Mid-Cap is up 0.1% to 58,292.58, the Small-Cap is up 0.3% to 36,054.54, while the Italy Growth is up 0.3% to 8,515.69.

In Europe, London's FTSE 100 is up 1.1%, Paris' CAC 40 is up 0.1%, while Frankfurt's DAX is up 0.3%.

On the Mib, Banca Popolare di Sondrio is up 1.8% after falling 1.1% in the previous session.

Unipol is trading up 2.8% at EUR20.33 per share. It should be noted that UBS has raised its target price on the stock to EUR21.20 from EUR19.10.

Recordati, down 0.3%, announced on Tuesday that it had mandated UBS Europe SE to launch a new buyback program starting on December 17. The program may involve a maximum of one million ordinary shares of the company with a nominal value of EUR0.125 each and a maximum value of EUR55 million.

Enel, down 0.8%, announced on Tuesday that it had acquired 10.6 million of its own ordinary shares between December 8 and 12. The shares were purchased at an average price of EUR 8.7034 per share, for a total value of EUR 92.5 million.

On the secondary market, d'Amico rose 2.4%, recovering after five sessions of decline.

De' Longhi Spa - down 0.2% - announced on Wednesday the inclusion of its stock in the STOXX Europe 600 index, effective as of the market opening on Monday, December 22. The STOXX Europe 600 is one of the main benchmark indices of the European stock market and includes 600 of the continent's largest and most liquid companies.

Ariston, on the other hand, rose 3.0%. Riello returns to Italian control thanks to its acquisition by the Ariston Group, which reached an agreement with the American company Carrier Global Corporation to purchase 100% of the group, with an enterprise value of EUR289 million. In addition to representing a change of ownership, the transaction is considered a strategic industrial policy move, aimed at safeguarding a historic asset of the national thermomechanical industry and avoiding possible intervention by Chinese giants, despite their higher economic offers.

Mondadori - flat at EUR2.02 - has chosen to give full autonomy to its digital business with the creation of Mondadori Digital, operational from January 1, 2026, and wholly owned by Arnoldo Mondadori Editore. The new company will take on all the digital activities currently included in Mondadori Media, through an intra-group spin-off that does not change the consolidated accounts but clarifies the group's strategic positioning. From next year, there will be five business areas: Trade Books, Education Books, Retail, Media, and Digital. Mondadori Digital will start with a total base of approximately 125 million followers in Italy and abroad and over 33 million unique monthly users.

Banco di Desio e della Brianza - up 1.4% - announced on Tuesday that it had participated in the capital increase of Credito Lombardo Veneto, a private bank with offices in Brescia, Sarezzo, and Bergamo, acquiring a 9.81% stake in the share capital.

On the Small-Cap market, OPS eCom - up 7.8% - announced on Tuesday evening that it had completed the acquisition of two transport companies, SCL and KCT. The acquisitions will enable the establishment and development of an integrated logistics hub, OPS Logistics & Transport, consolidating OPS eCom's position as a provider of e-commerce support services.

EPH, up 8.8%, announced on Tuesday that RONA Limited Company had subscribed and fully paid up, through a cash contribution, the remaining portion of the share capital increase approved by the company's board of directors. Following the subscription and payment of the remaining portion of the capital increase, EPH proceeded with the issue of 2.5 million ordinary shares, all assigned to RONA and intended for admission to trading on Euronext Milan.

Zest advanced 2.4% to EUR0.13 per share, after falling 3.4% in the previous session.

Among SMEs, Innovatec rose 9.8%, poised for its fourth bullish session.

Circle - still untraded - announced on Wednesday that its subsidiary eXyond has made available, through the Public Administration Electronic Market, the new "FCD meta-data service - regional road traffic monitoring" to a leading motorway company for a period of 24 months.

ErreDue - also not yet traded - announced on Wednesday that it had signed an agreement with Pacella Luxury Real Estate for the supply of a 1 MW green hydrogen production plant, which will be built at the Torrenieri-Montalcino site in the province of Siena, as part of a project to develop a Hydrogen Valley powered exclusively by renewable sources.

First Capital - flat at EUR21.60 - announced on Tuesday that it had participated in the capital increase of Credito Lombardo Veneto, acquiring a 9.4% stake in the bank's capital with an investment of approximately EUR2.5 million. Banca Crelove, as explained by the company in a statement, has concluded an aucap for a total amount of EUR 20 million, aimed at strengthening its capital structure and supporting the growth and strategic transformation outlined in its business plan for 2029.

In New York, during the European evening, the Dow fell 0.6%, the Nasdaq gained 0.2%, while the S&P 500 fell 0.2%.

Among Asian markets, the Nikkei was up 0.3%, the Hang Seng closed up 0.9%, and the Shanghai Composite was up 1.2%.

On the currency front, the euro traded at USD 1.1719 from USD 1.1779 at Tuesday's stock market close, while the pound traded at USD 1.3327 from USD 1.3420 last night.

Among commodities, Brent crude traded at USD 59.64 per barrel, up from USD 58.86 per barrel on Tuesday, while gold was worth USD 4,318.69 per ounce, up from USD 4,360.25 per ounce on Tuesday evening.

In Wednesday's macroeconomic calendar, German business expectations and the Ifo business confidence index are due to be released at 1000 CET.

At 1030 CET, again in the UK, the house price index will be published.

At 11:00 CET, the Eurozone inflation rate will be announced.

Overseas, at 1:00 p.m. CET, data on 30-year mortgages will be published.

Between 4:00 p.m. and 4:30 p.m. CET, again in the US, a series of data will be published, including crude oil inventories.

Among the companies listed on the Italian Stock Exchange, the results of Giocamondo Study and OVS are expected.

By Maurizio Carta, Alliance News reporter

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