After four consecutive sessions of declines, Piazza Affari opened today in rally mode, in line with other European markets, which found relief following Donald Trump's intervention yesterday afternoon at the Davos summit. During his speech, the U.S. president ruled out the use of military force in Greenland, while maintaining diplomatic pressure on Denmark.

Further consolidating the rebound were Trump's remarks about an agreement with NATO and the withdrawal of new tariffs.

This change in sentiment triggered a recovery on Wall Street, where indexes posted gains of over 1%, though not enough to offset the heavy losses from the previous session.

Already yesterday afternoon, after Trump's lengthy and widely followed speech, European stock markets had embarked on a recovery path, mostly closing higher, while Piazza Affari only managed to limit losses, ending the day down 0.5%.

Around 9:40 a.m., the Ftse Mib was up 0.76%, with widespread rebounds across all sectors.

Financial stocks saw renewed buying interest, with BANCA MEDIOLANUM and FINECOBANK among the most sought after, rising 2.2% and 1.8% respectively. Among more traditional banks, BPER, BANCO BPM, and BANCA MPS posted gains of around 1%.

In the luxury sector, CUCINELLI, coming off eight consecutive sessions of declines totaling 17.6%, gained over one percentage point this morning. TELECOM ITALIA also performed well, up 2%, as did POSTE ITALIANE, up 1.8%. The entire utilities sector was buoyant.

STELLANTIS advanced by about 1.5%, supported by a positive sector context in Europe, also thanks to Volkswagen's encouraging announcement of preliminary results showing free cash flow for its automotive division in 2025 at 6 billion euros—well above both the company's own guidance and market estimates.

Bucking the trend, LEONARDO fell 2.1% and FINCANTIERI dropped 3.4%, penalized by the easing of the most extreme scenarios regarding Greenland and expectations for a possible peace plan for Ukraine after Trump said a deal to end the war was "reasonably close".

ENI, finally, reacted with a modest 0.3% gain to news of the binding agreement signed with Socar, Azerbaijan's state oil company, for the sale of a 10% stake in the Baleine Project in Ivory Coast.

Analysts at Equita estimate that this additional sale could be worth at least 450 million dollars. "The transaction confirms Eni's ability to generate value from its discoveries," commented the broker, who noted that although the stake sold represents less than 0.4% of the group's upstream volumes, the deal "significantly contributes to financial flexibility and supports shareholder remuneration policy through dividends and buybacks."

(Andrea Mandalà, editing Gianluca Semeraro)