(Alliance News) - Major European indices are expected to open in negative territory on Wednesday, during a quiet morning on the macroeconomic front, as eyes remain fixed on the evolution of negotiations between the US and Iran to attempt to end the conflict in the Middle East.
IG futures indicate the FTSE MIB will open down 0.3% or approximately 136.1 points, after closing 0.7% lower at 48,354.89 points.
The Paris CAC 40 is forecast to drop 0.4% or 29.8 points, the Frankfurt DAX 40 is expected to decline 0.6% or 156.5 points, while the London FTSE 100 is projected to fall 0.5% or 54.1 points.
Among other Milanese indices on Tuesday evening, the Mid-Cap fell 0.8% to 59,976.65, the Small-Cap dropped 0.9% to 34,034.39, and Italy Growth slipped 0.3% to 8,801.22 points.
In pre-market news, the Chinese central bank kept its benchmark rates unchanged in May, as expected. The People's Bank of China left the one-year loan prime rate (LPR) at 3.0% and the five-year rate at 3.5% for the twelfth consecutive month, in line with consensus forecasts cited by FXStreet.
The central bank's last rate revision dates back to May last year, when it reduced the one-year and five-year LPR rates by 10 basis points from 3.1% and 3.6%, respectively.
Returning to Milan, on the MIB yesterday evening, Stellantis - which saw a daily decline of 0.7% - announced the launch of the E-Car project, a compact and affordable electric car. The first E-Cars are expected to roll off production lines in 2028.
UniCredit, which recorded a 1.4% decline, announced it will stay away from the Commerzbank annual general meeting scheduled for Wednesday, having chosen not to deposit the shares it holds in the German institution. The move by the group led by Andrea Orcel does not surprise the market, following repeated indications from the manager regarding his intention not to interfere, at this stage, in the German bank's governance.
Simultaneously, Commerzbank management formally rejected UniCredit's offer, judging it to lack an adequate premium and a credible strategic plan.
Leonardo - up 2.0% at the close - will launch a share buyback program in the coming days, authorized for a maximum of 2.0 million ordinary shares and for a maximum period of 18 months.
Avio, which led the gainers with a 4.1% rise to EUR31.25 per share, successfully launched the 'Smile' (Solar wind Magnetosphere Ionosphere Link Explorer) scientific satellite for the European Space Agency and the Chinese Academy of Sciences from the European Spaceport in French Guiana using a Vega C launcher.
As previously seen with the Gaza reconstruction plan, Prime Minister Giorgia Meloni is looking to major Italian state-backed companies to support Qatar in restoring Ras Lanuf, a strategic hub for liquefied natural gas exports damaged by Iranian attacks on March 19.
Palazzo Chigi has proposed support from Eni, Snam, Terna, and Saipem with a dual objective: to secure new long-term contracts for Italian companies and to help restore LNG supplies from Doha, which accounted for about a third of Italian imports.
Terna shares closed up 0.5%, Snam rose 0.4%, Saipem fell 3.2%, and Eni declined 0.6%.
Prysmian ended at the bottom of the basket with a 5.0% drop to EUR140.50 per share.
On the Mid-Cap, Ferretti - down 5.1% at the bell - reported a first-quarter profit decline to EUR23.9 million from EUR21.0 million in the same period of 2025, a 12% decrease.
Pirelli's Cyber Tyre - with daily sales down 1.3% - aims to transform the tire from a simple mechanical component into an intelligent system integrated into connected mobility. The technology, developed over 20 years of research, uses sensors and proprietary software to collect and process data for assisted and autonomous driving, predictive maintenance, and infrastructure monitoring.
Caltagirone, down 1.1%, announced that Francesco Gaetano Caltagirone has been confirmed as chairman, while Azzurra Caltagirone has been confirmed as vice president.
Reply, meanwhile, gained 4.7% to EUR103.60 per share, taking the top spot on the index.
On the Small-Cap, BasicNet - down 1.8% at the end of the session - announced that K-Way opened a new store on May 15 in the heart of London, at 26-27 Carnaby Street in Soho. This is the brand's first store in the West End.
The board of directors of EuroGroup Laminations, which fell 2.3%, approved first-quarter results, closing with a net loss of EUR3.1 million compared to a loss of EUR2.1 million recorded in the same period of 2025.
Cy4Gate showed a negative sign, down 6.8% at EUR8.55, while SYS-DAT took the lead with a 12% jump to EUR5.50 per share.
Among SMEs, Next Geosolutions, up 2.3%, announced it has been awarded a contract by TenneT TSO BV for a total of approximately EUR9 million.
Green Oleo, with potential gains of 4.8%, closed the first quarter with a production value of EUR18.6 million, down from EUR20.8 million as of March 31, 2025.
gAIn360, which saw no trades, approved the establishment of its wholly-owned Canadian subsidiary gAIn360 Inc, as part of the group's international expansion strategy focusing on the US and Canadian markets.
RES - Recupero Etico Sostenibile obtained a EUR4 million loan from MIMIT under the 'Sustainable Investments 4.0' program for the construction of a pyro-gasification plant intended to convert non-recyclable dry organic waste into certified syngas. The stock gained 2.5% to EUR7.28 per share.
In New York on Tuesday, the Dow closed down 0.7% at 49,363.88, while the Nasdaq finished 0.8% lower at 25,870.71 and the S&P 500 closed 0.7% in the red at 7,353.61.
Among Asian markets, the Hang Seng is currently down 0.7%, the Shanghai Composite is shedding 0.3%, while the Nikkei is 1.5% lower at 59,618.62.
On the currency front, the euro is trading at USD1.1596 from USD1.1597 on Tuesday evening, while the pound is trading at USD1.3386 from USD1.3397 yesterday evening.
Among commodities, Brent crude is trading at USD110.82 per barrel from USD110.54 per barrel on Tuesday evening, while gold is worth USD4,474.95 per ounce from USD4,501.17 per ounce at yesterday's close.
Wednesday's economic calendar includes the UK house price index at 1030 CEST.
From 1300 CEST, the focus shifts to the US with mortgage reports, and at 1630 CEST, US heating oil and gasoline inventory figures will be released. At 2000 CEST, the FOMC minutes will be made public.
Quarterly results from Generali, Diadema, and OPS Italia are expected on Piazza Affari.
By Claudia Cavaliere, Alliance News reporter
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