With no prospect of peace in the Middle East, uncertainty over the duration and scope of the conflict continues to leave markets very fragile, making yesterday's and this morning's stabilization attempts short-lived.
Further signs in this direction come from oil and gas movements which, after yesterday's technical correction attempts, continue to rise.
Uncertainty over which direction to take is prompting operators to focus on individual cues offered by quarterly results and companies' industrial plans.
At 14:00, the Ftse Mib index was down 0.17%.
Since last Friday's close, on the eve of the start of the war in Iran, the index has lost over 4%. Trading volumes in today's session amount to 2.2 billion euros.
Stocks in the spotlight:
** NEXI plunges, down 16% (after dropping as much as 20%) to new all-time lows, hit by market disappointment over its 2026 guidance and poor visibility on medium-term prospects. According to CEO Paolo Bertoluzzo, some shareholders, especially in the U.S., may also have been disappointed by the lack of a buyback.
** Weaker-than-expected 2025 results and the lack of more detailed guidance for the current year triggered heavy selling in AMPLIFON as well, which fell 11% to its lowest level in nine years.
** By contrast, the market is rewarding the results and outlook for CAMPARI, which tops the Ftse Mib with a gain of around 11%.
** STM is also rallying, up 4.5% and benefiting from a positive environment in the entire sector, helped by strong forecasts from U.S. semiconductor giant Broadcom. STM is further supported by comments from CEO Jean-Marc Chery, who, speaking at a conference in San Francisco, confirmed guidance for the first quarter and sequential revenue growth for the next quarter and the second half, with some upside potential, according to an Equita report.
** In a positive energy sector, SNAM stands out, advancing 1.7% on the day it releases its earnings and its 2030 plan.
** Banks are weak, with MPS still the most heavily sold, down 4%. The market already showed its disappointment yesterday over the exclusion of CEO Luigi Lovaglio from the board list that the bank will present at the April 15 shareholders' meeting for the board's renewal. Divergences among some shareholders over the MEDIOBANCA operation, which involves acquiring the remaining 14% of capital and subsequent delisting, continue to weigh on the Milan bank's shares, which are down 3.4%.
(Andrea Mandal, editing Sabina Suzzi)
