(Alliance News) - European markets opened Thursday's session in negative territory, amid high volatility and persistent risk-off sentiment.

Market pressure is being fueled by intensifying tensions in the Middle East, as renewed exchanges of attacks between the US and Iran keep geopolitical uncertainty high and drive a significant repricing of risk. The upward movement in oil prices is amplifying this period of stress, with Brent holding steady above USD97 per barrel, reflecting concerns over the security of energy routes and the situation in the Strait of Hormuz.

Money markets are recalibrating expectations for ECB monetary policy, now pricing in approximately 65 basis points of tightening over the course of the year, up from the previous session's levels, confirming a more restrictive pricing linked to energy-driven inflationary pressures.

Consequently, the FTSE MIB is shedding 0.1% to 49,543.96 points, the Mid-Cap is moving in fractional red at 61,778.16 points, the Small-Cap is losing 0.1% to 35,489.31 points, while Italy Growth is posting a 0.2% gain at 9,003.58 points.

London's FTSE 100 is down 1.0%, the Paris CAC 40 is retreating by 0.4%, while the Frankfurt DAX 40 is recording a 0.2% loss.

Returning to Milan, on the MIB, Unipol is stepping back 1.5% to EUR21.36 per share.

FinecoBank is shedding 1.3%, following a 0.6% gain in the previous session.

Ferrari is advancing 0.3% to EUR284.60 per share. Notably, Goldman Sachs has revised its target price on the stock upward to EUR383.00 from the previous EUR382.00.

Nexi has slipped 0.5% to EUR3.48 per share. Regarding the stock, Citigroup has raised its target for Nexi to EUR3.70 from EUR3.40.

Lottomatica's buyback continues as the stock retreats 0.5%. The company announced on Wednesday that it purchased 276,000 of its own ordinary shares between May 18 and May 22 at an average price of EUR25.2283 each, for a total value of EUR7.0 million.

On the mid-cap segment, Salvatore Ferragamo is advancing 7.5%, following a 5.7% gain in the previous session.

MAIRE is up 2.3% after two bearish sessions, with the price around EUR14.54 per share.

Ariston Holding - down 0.1% - announced on Wednesday that it has exercised its call option to acquire the remaining 49% of Chromagen Australia Pty, in which it already held a 51% stake and was fully consolidated, thereby reaching 100% of the share capital.

The consideration for the remaining 49% stake amounts to AUD33.6 million, or EUR20.4 million, as defined in the agreement signed on May 31, 2023, with minority shareholders. The transaction was settled in cash using Ariston Group's existing financial resources, with no impact on net financial debt, the company specified.

Banca Ifis - flat at EUR19.99 - is accelerating the rationalization of assets inherited from the acquisition of illimity Bank. The institution has reached a binding agreement with Prelios for the sale of Arecneprix, a platform active in the management of NPLs and real estate assets.

The deal involves the transfer to Prelios of the platform, consisting of approximately 125 employees, along with a portfolio of approximately EUR6.4 billion. Closing is expected by June. The consideration, amounting to approximately EUR30 million, is expected to generate a positive impact on Banca Ifis's capital of about 10 basis points, according to Il Sole.

On the Small-Cap index, Class Editori is advancing 6.3%, following a 2.5% decline in the previous session.

Aedes - up 6.3% - announced the acquisition, through its subsidiary Immobiliare Langhe, of a residential property in Courmayeur, in the Dolonne area, for EUR1.6 million plus estimated ancillary costs of approximately EUR150,000. The company plans extraordinary renovation work to create energy class A4 apartments, with estimated revenues between EUR5.2 million and EUR6.2 million.

The Italian Sea Group is shedding 4.1%, after two sessions in which it gained approximately 22%.

Among SMEs, strength is seen in Misitano & Straccuzzi, which is pushing its price up 9.1% to EUR0.34 per share.

Telmes - up 2.1% - announced on Thursday that it closed the first quarter with revenues of EUR1.9 million, up from EUR1.6 million as of March 31, 2025. Furthermore, the company announced the start of a structural transformation process that will lead the group from a traditional operating model to an AI-centric, data-driven organization capable of intelligently automating its key processes.

Siav - up 10% - announced on Thursday that it has completed the subscription, via Accelerated Bookbuilding, of a share capital increase for a maximum amount of EUR2.5 million, including share premium, through the issuance of a maximum of 1.1 million new ordinary shares. Specifically, the capital increase involved a total of 1.1 million new ordinary shares, equal to 10.80% of Siav's new share capital, at a unit price of EUR2.25, for a total value of EUR2.5 million.

Tenax International - down 2.3% - announced that it closed 2025 with a production value of EUR15.7 million, down from EUR23.4 million as of December 31, 2024. The company ended the year with an adjusted net loss of EUR1.8 million, compared to an adjusted net profit of EUR600,000 in 2024.

On Wall Street last night, the Dow Jones gained 0.4%, the Nasdaq 0.1%, while the S&P closed slightly above parity.

In Asia, the Nikkei shed 0.5%, the Shanghai Composite gained 0.1%, while the Hang Seng closed down 1.4%.

On the currency front, the euro is trading at USD1.1632 from USD1.1618 on Wednesday evening, while the pound is trading at USD1.3422 from USD1.3438 on Wednesday evening.

Among commodities, Brent is trading at USD97.35 per barrel from USD100.30 on Wednesday evening, while gold is worth USD4,433.31 per ounce from USD4,507.56 at Wednesday's close.

Thursday's economic calendar includes the auction of five- and 10-year BTPs at 1130 CEST. At 1200 CEST, Italian consumer price index data is due.

At 1430 CEST, Gross Domestic Product and jobless claims data are expected from the US, along with PCE data.

At 2230 CEST, the Fed's weekly balance sheet is due.

Among Piazza Affari companies, results are expected from Casta Diva, Cube Labs, DBA Group, OPS Retail, Otofarma, and Più Medical.

By Maurizio Carta, Alliance News reporter

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