Stock markets surge following US-Iran ceasefire

(Alliance News) - Major European indices opened in positive territory on Wednesday, confirming futures indications, following news that the US and Iran have agreed to halt bombardments under a ceasefire agreement, contingent upon Tehran fully reopening the strategic Strait of Hormuz.

This agreement does not cover Israel's war in Lebanon. Meanwhile, NATO chief Mark Rutte is scheduled to hold talks with Donald Trump in Washington later today.

Consequently, the FTSE Mib is up 3.7% at 47,086.72, the Mid-Cap has risen 3.8% to 56,669.49, the Small-Cap is up 2.5% at 33,807.11, while Italy Growth is gaining 1.6% at 8,537.45.

London's FTSE 100 is up 2.3%, the DAX 40 marks a 5.0% increase, while the CAC 40 in Paris is rising by 2.6%.

In commodities, Brent futures plunged by over 15%, approaching USD90 per barrel, following the news of the "bilateral ceasefire" conditional on Iran reopening the Strait of Hormuz. WTI futures also plummeted by more than 15% to below USD95 per barrel.

In Europe, natural gas futures crashed by over 17% to EUR44 per MWh, their lowest level in five weeks. The ceasefire was reached less than two hours before the deadline set by Trump for a deal with Iran.

The US President stated that a 10-point proposal presented by Iran could serve as a "viable basis" for a long-term peace framework. Iran stated that its armed forces will coordinate passage through the Strait.

On the Mib, Buzzi takes the lead, rising 8.8%. The company announced it has repurchased treasury shares for EUR5.5 million.

UniCredit is up 7.6%. Notably, Commerzbank stated on Tuesday that it supports "its existing business," rejecting takeover initiatives from UniCredit. The Milan-based bank already holds approximately 26% of the Frankfurt institution, plus an additional 4% via total return swaps. "Interactions with UniCredit, according to Commerzbank, have not demonstrated sufficient potential for value enhancement for its shareholders beyond the current stand-alone strategy," the German bank stated on Tuesday.

Rounding out the top three is Ferrari, up 7.2%.

Fincantieri is up 4.0% at the open. Jefferies continues its coverage of the stock, upgrading its recommendation to "buy" from "hold" and raising the target price to EUR19.00 from EUR18.10, compared to a price of EUR13.50 on April 2. Analysts Tommaso Castello, Lucas Ferhani, Cole Hathorn, David Farrell, and Chloe Lemarie emphasize that the upgrade comes "as the stock enters a new growth phase."

The broker identifies a trajectory supported by backlog execution and improving operating profitability in the coming years, with a particular contribution from the Defense and Underwater divisions.

Azimut Holding - up 5.2% - announced on Tuesday that it recorded total net inflows of EUR945 million in March, bringing total net inflows for the first quarter of 2026 to EUR4.6 billion. At the end of March, total assets under management stood at EUR143.8 billion.

Only three stocks are in the red at the start. These are the oil plays Eni, Tenaris, and Saipem, down 7.1%, 3.0%, and 2.0% respectively.

On the mid-cap segment, NewPrinces - up 1.8% - announced on Tuesday the acceleration of its share buyback program, in light of the current valuation level of the stock and the group's solid financial position. As of March 31, the company held 1.1 million treasury shares, equal to 2.6% of the share capital, and may purchase further shares up to a total maximum of 20% of the capital.

LU-VE - up 4.3% - reported on Tuesday that it achieved product sales of EUR151.0 million in the first quarter, a 13% increase from EUR133.5 million in the same period of 2025. The order backlog as of March 31 stands at EUR300.9 million, an "all-time high," the company specified, up 43% from EUR214.0 million in March 2025.

Salvatore Ferragamo is rising 3.8%. Notably, Barclays raised its target price on the stock to EUR5.50 from EUR4.90 per share.

At the bottom, d'Amico, Alerion, SOL, and Philogen are shedding between 4.7% and 0.9%.

On the Small Cap index, OPS eCom - suspended after a theoretical rise of 7.9% - announced that the board of directors has modified the company's management structure, a move aimed at the relaunch of OPS eCom and fostering a strategic repositioning.

Specifically, the board appointed Chairman Cosimo Saracino as the new CEO, replacing Ciro Di Meglio, who stepped down while remaining a non-executive director.

BasicNet - up 2.6% - announced on Tuesday that it purchased 45,000 treasury shares between March 30 and April 2 at an average price of EUR6.515, for a total value of approximately EUR293,000.

Sabaf - down 1.4% - continues its buyback program. On Tuesday, it announced the purchase of 3,982 treasury shares between March 30 and April 1, for a total value of approximately EUR55,000.

Among the few declining stocks, Gas Plus is shedding 5.0%.

Among SMEs, Datrix is up 3.5% after announcing on Wednesday that L'Oréal Italia has renewed its partnership with Navla, a group brand, to lead Search and Digital Intelligence activities for the next three years.

Siav is up 2.5%. The company announced on Tuesday that the shareholders' meeting approved the board's proposal to increase share capital, for consideration and on a divisible basis, for a maximum total amount of EUR5.0 million.

Cyberoo - up 4.3% - announced the signing of the first multi-year contracts for the sale of the Keatrix platform, marking the start of commercialization for the solution launched at the end of 2025. The contracts, signed with both new and existing clients, primarily involve medium-sized organizations across various sectors, including industrial, agrifood, pharmaceutical, and services.

In New York, the Dow closed down 0.2%, while the Nasdaq ended slightly higher, as did the S&P 500.

In Asia, the Nikkei rose 5.4%, the Shanghai Composite advanced 2.7%, and the Hang Seng is up 2.8%.

On the currency front, the euro is trading at USD1.1691 from USD1.1574 on Tuesday evening, while the pound is trading at USD1.3423 from USD1.3442 yesterday evening.

Among commodities, Brent is trading at USD95.15 per barrel from USD110.10 per barrel yesterday evening, while gold is worth USD4,836.32 per ounce from USD4,647.18 per ounce on Tuesday evening.

Wednesday's macroeconomic calendar includes the US mortgage report at 1300 CEST.

A 10-year Treasury Note auction is scheduled for 1900 CEST in the US, followed by the FOMC minutes at 2000 CEST.

At 2035 CEST, a speech by the Federal Reserve's Waller is expected.

Among companies, results are expected from CleanBnB and Poligrafici Printing.

By Claudia Cavaliere, Alliance News reporter

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