(Alliance News) - The MIB is trading lower around the 47,600 level at mid-session on Thursday, extending losses from the previous session and hitting a two-week low.
The move reflects a risk-off environment, primarily driven by rising geopolitical tensions related to the conflict in Iran, which is fueling the risk of military escalation and potential disruptions to energy and maritime routes in the region.
Market attention also remains focused on the ECB meeting expected today, with rates projected to remain unchanged. However, investors are closely watching the tone of the guidance in light of the recent rebound in energy prices and its implications for inflationary dynamics.
Consequently, the FTSE Mib is down 0.3% at 47,643.98, the Mid-Cap loses 0.1% to 57,878.78, the Small-Cap rises 0.1% to 34,493.51, while Italy Growth advances 0.2% to 8,839.97.
London's FTSE 100 is in the green by 1.0%, Paris's CAC 40 yields 0.7%, while Frankfurt's DAX 40 advances 0.2%.
On the MIB, UniCredit is retreating 7.9% to EUR6.10 per share. Commerzbank's attempt to identify a 'white knight' to avoid a merger with UniCredit appears complex and unconvincing for private shareholders.
According to Bloomberg reports, the German government, which still holds 12% of the bank and opposes the deal with the Italian group, reportedly sounded out several European banks for an alternative merger earlier this year. As reported by Il Sole 24 Ore on Thursday, ING has emerged as a possible candidate, with a market capitalization of EUR68 billion and a European expansion strategy that includes Germany.
Stellantis - down 7.7% - announced on Thursday that it closed the first quarter with a net profit of EUR400 million, up from EUR377 million, compared to a loss of EUR387 million in the same period of 2025, 'reflecting higher volumes and more robust operational performance,' according to the company's statement.
However, the issue of cash flow remains open, still negative at EUR1.9 billion, albeit an improvement over the EUR3 billion deficit of the previous year. Furthermore, the group stated that a US Supreme Court ruling in February, which overturned part of the tariffs imposed by President Donald Trump, generated a benefit of approximately EUR400 million based on expected refunds.
Despite confirming 2026 guidance - single-digit revenue growth and a return to positive cash flow expected in 2027 - the stock opened down about 7%, losing as much as 10% during the session. Investors continue to price in the gap between a recovering North America and a still struggling Europe, signaling that the balance sheet rebalancing remains incomplete.
Prysmian - bullish with a 3.7% gain - announced on Wednesday that it recorded a group net profit of EUR246 million in the first quarter, a 64% increase from EUR150 million in the same period last year. Revenues grew to EUR5.22 billion from EUR4.77 billion in the same period of 2025.
BPER Banca - in the red by 0.6% - is progressively strengthening its positioning in corporate and investment banking, focusing particularly on structured finance to support corporate and large corporate clients. As Il Sole 24 Ore writes on Thursday, the bank led by Gianni Franco Papa expanded its activity from 134 operations in 2023 to 170 deals in 2025. Its role in syndicated loans also grew, with 110 mandates as lead arranger and 57 as bookrunner, confirming greater involvement in more complex transactions.
Nexi is yielding 1.0% at EUR3.92 per share. Cassa Depositi e Prestiti has confirmed its stance on Nexi, rejecting interest from the CVC Capital Partners fund and reiterating the strategic nature of its 19.14% stake, as reported by La Repubblica on Thursday. The stock, driven by Financial Times rumors to a 9% gain, later pared its gains to close up 2.85% at EUR3.96.
Last autumn, Nexi had already rejected a EUR1 billion offer from the TPG fund for its Digital Banking Solutions division, confirming its intention not to divest assets.
On the Mid-Cap, BFF Bank is retreating 5.6% after three sessions ending in positive territory.
MAIRE is stepping back 4.8% to EUR15.72 per share. Notably, Jefferies raised its target price on the stock to EUR19.00 from EUR17.50 per share.
Tamburi Investment Partners - in the green by 0.5% - announced on Wednesday the conclusion of the share buyback program launched in 2025 and the simultaneous launch of a new buyback plan. The company completed the previous program by purchasing 2.1 million shares for a total value of EUR17.2 million, against a maximum target of 5.0 million shares.
Banco di Desio e della Brianza - flat at EUR9.16 per share - announced on Wednesday that the ordinary shareholders' meeting appointed the new board of directors for the 2026-2028 three-year period, setting the number of members at 13, including three members of the management control committee, under the one-tier system adopted by the bank.
Webuild - down 1.1% - strengthened its financial profile with the issuance of a new EUR500 million senior unsecured bond maturing in 2032 with a 4.5% coupon, a transaction welcomed by the market with demand exceeding five times the offer.
According to Mediobanca, the operation allows the group to accelerate debt refinancing, allocating the proceeds to the repayment of existing indebtedness and the repurchase of the EUR250 million bond maturing in 2027. The main benefit lies in extending the average debt maturity, currently at approximately 3.4 years, and reducing short-term financial requirements. The recommendation remains neutral.
On the Small-Cap, Triboo is advancing 3.8% to EUR0.38 per share. The stock, which has not paid a dividend since 2019, reverses course after three positive sessions.
Landi Renzo - in the green by 2.3% - signed an investment agreement with a financial vehicle controlled by Heliaca Investments Coöperatief UA for the integration of the Green Transportation business with Westport Fuel Systems Italia, as part of a strategic partnership in the sustainable mobility sector.
Elica - bearish at 0.4% - announced on Wednesday that it closed the first quarter of the year with a normalized loss of EUR1.3 million from EUR457,000 as of March 31, 2025. First-quarter revenues amounted to EUR111.2 million compared to EUR118.8 million in 2025.
EPH Invest - in the red by 5.0% - announced on Wednesday that the board of directors approved the draft financial statements as of December 31, a fiscal year closed with a net loss of EUR17,000 from a deficit of EUR1.1 million in 2024. Revenues amounted to EUR1.4 million from EUR151,000 the previous year.
Among SMEs, Energy Time retreats 7.6% to EUR4.90, marking its third bearish session.
Italian Wine Brands - in the green by 0.9% - announced the conclusion of the share buyback program launched on April 21, in execution of the shareholders' meeting resolution of May 12, 2025.
In the period between April 21 and 29, the company purchased a total of 8,323 treasury shares at an average price of EUR19.82 per share, for a total value of EUR165,000.
AATech - untraded with a last price of EUR0.84 - announced a strategic reorganization including the launch of a new brand architecture, the reorganization of the corporate group, and a capital increase of up to EUR3.4 million to support growth. The new structure includes four business areas - Credit Solutions, Tech Platform, AI Infrastructure, and Venture Builder - with the aim of strengthening the group's identity and improving scalability and clarity of the offering.
In New York on Wednesday evening, the Dow lost 0.6%, the Nasdaq closed fractionally in the green, while the S&P 500 ended fractionally in the red.
On the currency front, the euro is trading at USD1.1694 from USD1.1713 on Wednesday evening, while the pound trades at USD1.3501 from USD1.3498.
Among commodities, Brent is trading at USD110.00 per barrel from USD117.60 on Wednesday evening, while gold is worth USD4,625.60 per ounce from USD4,556.13 last night.
Thursday's economic calendar includes the Bank of England's interest rate decision at 1300 CEST, while the ECB's decision will arrive at 1415 CEST.
At 1430 CEST, the PCE index data will be released from the US, while at 2230 CEST it will be the turn of the Fed's weekly balance sheet.
On the Piazza Affari corporate calendar, corporate results from SMEs and small caps are expected.
By Maurizio Carta, Alliance News reporter
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