Mixed European Markets, BPER Leads After Earnings Release

(Alliance News) - Thursday saw major European markets moving without a clear direction just hours before the European Central Bank meeting, which is expected to leave interest rates unchanged.

According to data released by Eurostat, in December, retail trade volume declined by 0.5% both in the Eurozone and the EU compared to November, when a 0.1% increase was recorded in the Eurozone and a 0.2% rise in the EU bloc.

Domestically, Italian retail sales fell by 0.8% month-on-month in December after rising 0.5% in November, while the construction PMI dropped to 47.7 points in January from 47.9 in December, moving further away from the 50.0-point threshold that separates contraction from expansion in the sector's activity.

The Mib is down 0.3% at 46,503.05 points, the Mid-Cap is up 0.4% at 60,247.65, the Small-Cap is positive by 0.2% at 36,779.16, and the Italy Growth index is up 0.2% at 8,744.49 points.

Across Europe, the CAC 40 is up 0.2%, the DAX 40 is down 0.3%, and the FTSE 100 is losing 0.3%.

On Piazza Affari, BPER is up 2.2% at EUR12.59 per share after announcing it closed 2025 with consolidated net profit of EUR1.88 billion, up from EUR1.44 billion in 2024. At the same time, the board proposed total dividends of EUR1.37 billion, a 60% year-on-year increase, including the interim dividend distributed in November 2025, with a payout ratio at 75%.

As a result, Banca Popolare di Sondrio is also in the green, up 1.3% at EUR18.145 per share.

STMicroelectronics ranks among the top performers in the large-cap basket with a 1.8% gain at EUR24.745 per share.

Still in the banking sector, speculation is mounting about a possible second term for Lovaglio as CEO of MPS, which is up 0.1% following statutory changes that still require ECB approval.

Amplifon – up 2.5% – announced that Standard Ethics has raised its corporate standard ethics rating to 'EE-' from the previous 'E+', with a Positive outlook.

The Ravenna CCS project by Eni – down 0.4% – and Snam – slightly in the red – is making progress in carbon capture and storage.

Fincantieri, down 0.6%, has signed an agreement with WSense, an Italian deep tech company, to implement advanced systems for the underwater domain.

The conversion of Telecom Italia savings shares – flat at EUR0.5784 – promises to be a good deal for many investors. After the shareholders' approval, the voluntary conversion period will begin in the coming weeks: for each RNC tendered, investors will receive one ordinary share and EUR0.12 in cash, compared to only EUR0.04 with the mandatory conversion.

Volkswagen and Stellantis CEOs, Oliver Blume and Antonio Filosa, are proposing a Made in Europe label for electric cars produced in the EU, linked to purchase incentives and CO2 bonuses extendable to the entire fleet. Shares of the automaker formed by the merger of PSA and FCA are down 2.4%.

Among the laggards, Enel and Hera are down 0.6% and 0.8%, respectively.

In the Mid-Cap segment, OVS closed 2025 with sales up about 7% and EBITDA estimated between EUR216 million and EUR218 million, up 11% from the previous year.

This result was supported by solid commercial margin performance despite inflationary pressure on costs, and by a strong acceleration in cash generation, up over 20%, also thanks to effective working capital management. The stock is up 1.1% at EUR4.864 per share. The company also announced it will not proceed with the acquisition of Kasanova.

Lane, the U.S. subsidiary of the Webuild group, is up 2.7% after securing a USD389 million contract – about EUR336 million – for the design and execution of expansion and modernization works on Interstate 64 in Norfolk, Virginia, USA.

Anima Holding – up 1.5% – closed 2025 with solid results, supported by positive inflows, increased assets under management, and improving profitability.

Acea falls 0.8% to EUR23.94 per share.

In the Small-Cap segment, Aeffe posts a positive performance, up 0.4% at EUR0.265 per share.

Seco, up 2.4%, released preliminary consolidated figures as of December 31, 2025, reporting revenues of EUR197.6 million, up 7.7% from EUR183.5 million the previous year.

Bastogi shares, after surging 23% to EUR0.964 per share the previous day following news of the sale of the entire capital of Forumnet Holding to international group Live Nation, have turned negative, losing 0.8% to EUR0.956 per share.

Italia Exhibition Group, fresh from approving its strategic plan projecting 2030 revenues between EUR360 million and EUR365 million, adjusted EBITDA between EUR100 million and EUR105 million, and net financial position at EUR44 million against EUR210 million in investments, is down 1.4% at EUR10.55 per share.

Tesmec is performing well, up 3.8%.

Among SMEs, FAE Technology – up 3.6% – has secured orders worth EUR6.0 million in the telecommunications sector. The total economic impact of the contracts, valued at around EUR11 million, will be reflected over the year, further strengthening the group's order book.

Confinvest, with no trades, has completed a reverse take-over operation that allowed it to acquire the business unit of Dierre after the fulfillment of the suspensive conditions in the preliminary agreement.

The reverse take-over operation marks a significant step in the company's external growth strategy and enables Confinvest to "strengthen its position in the physical investment gold sector." The company has committed to purchase the relevant business unit at a minimum price of EUR7.0 million and a maximum of just under EUR7.3 million.

Pattern closed 2025 with revenues of EUR115.4 million, down from EUR125.8 million the previous year. The EBITDA margin is expected to exceed 5%, in line with September 30 and a clear improvement from June 30, thanks to positive volume effects, greater production efficiency, and ongoing industrial rationalization. The stock is down 1.7%.

Cyberoo – down 2.2% – and Cometa have announced the signing of a strategic distribution agreement aimed at significantly boosting the presence of Cyberoo solutions in the Italian market.

Double-digit gains for Giocamondo Study, which is up 13% at EUR1.90 per share.

In New York, at Wednesday's close, the Dow Jones gained 0.5% to 49,501 points, the S&P 500 fell 0.5% to 6,883 points, while the Nasdaq dropped 1.8% to 24,891 points.

On the currency front, the euro is trading at USD1.1803 from USD1.1798 at Wednesday's European equity close, while the pound is trading at USD1.3622 from USD1.3653 last night.

Among commodities, Brent is trading at USD68.43 per barrel from USD67.46 per barrel on Wednesday, while gold is valued at USD4,923.12 an ounce from USD4,917.87 an ounce last night.

On Thursday's macroeconomic calendar, the Bank of England's rate decision is due at 1300 CET, while the European Central Bank's announcement is expected at 1415 CET, half an hour before the press conference by President Christine Lagarde.

Apart from weekly jobless claims at 1430 CET and the Federal Reserve's balance sheet at 2230 CET, the U.S. macro calendar does not feature any other major data releases.

By Michele Cirulli, Alliance News reporter

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