(Alliance News) - Major European indices opened Tuesday with mixed performance, as Piazza Affari dipped below the 50,000-point threshold and London emerged as the sole regional exchange trading in positive territory.

Markets are back under pressure following a resurgence of tensions between the US and Iran. Hopes for a nuclear deal and the reopening of the Strait of Hormuz quickly cooled following statements from Tehran, which ruled out an imminent agreement and threatened to halt negotiations.

Sentiment was also weighed down by a fresh US strike against Iranian targets.

US crude returned above USD95 per barrel, stoking renewed inflationary fears and pushing global bond yields higher. Analysts believe that a potential collapse of the talks could quickly drive crude back above USD100.

Consequently, the FTSE Mib shed 0.5% to 49,956.12 points, the Mid-Cap lost 0.5% to 62,072.87 points, the Small-Cap advanced 0.5% to 35,150.95 points, while Italy Growth rose 0.3% to 8,993.02 points.

London's FTSE 100 is up 0.7%, Paris's CAC 40 is down 0.4%, while Frankfurt's DAX 40 is retreating by 0.3%.

Back in Milan, on the blue-chip index, Amplifon climbed to the top at the open, gaining 1.4% following Monday evening's 3.9% rise.

Saipem and Snam also saw buying interest, both up 0.9% in the wake of rising crude prices.

Eni rebounded after Monday's decline. The 'six-legged dog' group announced that, together with partners Petroci and Vitol, it has approved the final investment decision for phase three of the Baleine project, 'marking a significant step in the development of the largest hydrocarbon field ever discovered' in Ivory Coast.

The full-field phase three development will increase oil production from 60,000 to 150,000 barrels per day and gas production from 80 to 200 million cubic feet per day (2.3 to 5.7 million cubic meters per day).

Bearish pressure hit MPS and Mediobanca, which fell 0.3% and 0.1% respectively. The integration of Piazzetta Cuccia into the Sienese bank enters its second operational phase following initial months dedicated to defining the new corporate structure, reorganizing operational functions, and managing governance tensions.

CEO Luigi Lovaglio, bolstered by shareholder confirmation following the standoff with the previous board, has launched the executive phase of the plan, directly involving the group's central structures, platforms, and functions.

According to the MPS quarterly report, the process is being managed through eight 'integration workstreams' dedicated to key operational areas and tasked with coordinating over 50 projects monitored on a weekly basis.

Prysmian halted its four-session winning streak, with the stock shedding 0.1% to EUR152.80. The rush for investment in data centers and artificial intelligence continues to support the group's outlook, which has reached a market capitalization exceeding EUR45 billion as the share price hit EUR153. Since the start of the year, the shares have recorded a rise of nearly 77%, the third-best performance on the index.

Selling hit Unipol, which fell 0.3% to EUR21.80 per share. Barclays raised its target price on the stock to EUR23.50 from EUR22.00 with an 'overweight' rating.

Analysts at Intermonte expressed strong reservations regarding the takeover bid launched for Recordati - down 0.1% - by CVC and GBL funds through the Respighi vehicle. They judged the offer of EUR51.29 per share ex-dividend as 'unattractive' and advised shareholders not to tender, as reported Tuesday by MF-Milano Finanza.

In the report, the brokerage emphasized that Respighi's intentions remain 'unclear' should the 67% capital threshold not be reached, a condition that is nonetheless waivable. According to Intermonte, once this level is exceeded, the group could proceed with a delisting via merger with the unlisted BidCo, leveraging control of the extraordinary general meeting.

Generali Group - down 1.0% - is retiring the historic Europ Assistance brand and launching Redion, a new integrated entity combining the employee benefit program business of Generali Employee Benefits and Europ Assistance activities under a single brand. The new division will be led by Antoine Parisi, CEO of Europ Assistance for 12 years, and will consolidate all assistance service activities.

Ferrari stalled at the open and is trading 6.8% lower. The Prancing Horse company presented 'Luce', the first fully electric car in the group's history, opening a new strategic phase for the Maranello-based manufacturer. The model, which starts at EUR550,000 and can exceed EUR700,000 with customizations, represents a radical shift in both styling and technology.

On the Mid-Cap, Iren and Moltiply Group led the gainers, advancing 1.0% each.

Among the laggards in the basket, NewPrinces retreated 1.3% while Alerion shed 1.6% on the floor.

At the bottom of the junior index sat Technoprobe, in the red by 2.1%, snapping a four-session winning streak.

On the Small-Cap, Industrie De Nora opened up 4.5% after announcing Tuesday the 100% acquisition of BW Water, a global operator in integrated water treatment solutions, with an Enterprise Value between USD61.5 million and USD66.5 million.

The transaction is also expected to enable the company to reach a revenue level close to EUR1 billion on a 2025 pro-forma basis.

On the other side of the list, Aeffe shed 7.6%, sliding after gaining 16% in the previous session.

Edison - down 1.0% - announced Monday that it received a new force majeure extension from QatarEnergy regarding five additional LNG cargoes destined for the Adriatic LNG terminal, with deliveries scheduled between July and mid-August 2026.

With this extension, the total number of cargoes affected by force majeure rises to 17, representing a volume of approximately 2.2 billion cubic meters of gas, the company explained in a note.

Banca CF+ on Monday denied rumors regarding a possible delisting of Banca Sistema - which fell 0.1% - as part of the mandatory total public tender and exchange offer launched for the institution.

The bank clarified that the operation 'is not aimed at delisting the issuer's shares from the Euronext Milan regulated market', according to the released statement.

Among SMEs, Ena rose 6.6% to EUR0.73 per share, following double-digit gains the previous day.

Mevim - yet to see any trades - announced Monday that it closed 2025 with a consolidated net loss of EUR774,000, an improvement over the EUR1.9 million loss in 2024.

Sales and service revenues fell to EUR2.4 million from EUR5.6 million, while the value of production decreased to EUR3.3 million from EUR5.8 million.

Lemon Sistemi - down 2.4% - co-opted Salah Al Nasser and Rodolfo Belcastro to the board of directors, the latter meeting independence requirements, following the resignations of Ciro Aquino and Salvatore Bommarito.

The board of Cofle approved the 2025 accounts, closing with a loss of EUR9.3 million, widening from the EUR5.6 million loss recorded in fiscal year 2024.

Revenues stood at EUR48.6 million compared to EUR59.9 million in 2024. The result was affected not only by the decline in turnover but also by a provision for risks, financial and currency management, and non-cash items related to the application of accounting principles for hyperinflation in Turkish subsidiaries.

Cofle shares are suspended following a theoretical rise of 10%.

In New York, the stock market remained closed on Monday for Memorial Day.

In Asia, the Nikkei closed down 0.3%, the Hang Seng is fractionally in the red, while the Shanghai Composite fell 0.2%.

On the currency front, the euro is trading at USD1.1631 from USD1.1645 on Monday evening, while the pound trades at USD1.3471 from USD1.3501 on Monday evening.

Among commodities, Brent is trading at USD96.01 per barrel from USD97.60 on Monday evening, while gold is worth USD4,527.24 per ounce from USD4,572.45 at Monday's close.

Tuesday's economic calendar includes the US house price index at 1500 CEST, followed by M2 money supply data at 1900 CEST.

On the Piazza Affari corporate calendar, results are due from ATON Green Storage, expert.ai, Mondo TV, Rocket Sharing Company, and Talea Group.

By Antonio Di Giorgio, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2026 Alliance News IS Italian Service Ltd. All rights reserved.