Trading floors see continued sell-off; Leonardo soars

(Alliance News) - Major European stock exchanges are recording a negative session at midday Thursday, amid growing risk aversion linked to geopolitical tensions in the Middle East and rising oil prices heading toward the USD100 per barrel mark.

Uncertainty regarding the conflict in Iran has strengthened the US dollar, pushing investors toward safe-haven assets and fueling inflationary fears that are weighing on market sentiment.

Notably, money markets are pricing in a rate hike by the European Central Bank by July, with approximately an 85% probability of a second increase by December, reflecting inflationary pressure stemming from the energy crisis and international tensions.

The Mib is consequently posting a loss of 0.4% at 44,578.09 points.

Among other European indices, the CAC 40 is down 0.4%, the DAX 40 is shedding 0.1%, while the FTSE 100 is losing 0.2%.

The Mid-Cap is in the red by 1.5% at 55,274.72, the Small-Cap is trading bearishly by 0.9% at 34,345.74, and Italy Growth is yielding 0.2% at 8,445.12.

On Piazza Affari, Campari is down 2.3%. It is worth noting that D.E. Shaw has cut its short position on the stock to 0.46% from the previous 0.50%.

Enel is shedding 0.5% despite Deutsche Bank raising its target price to EUR10.00 from the previous EUR8.50 per share.

Saipem, meanwhile, is retreating by 1.9%, heading for its third bearish session if confirmed at the close.

Among the blue chips, Leonardo is one of the few gainers, advancing steadily by 7.2%. The company approved its 2025 results and 2026 guidance. The group closed the fiscal year with a net profit of EUR1.3 billion, up 15% compared to EUR1.15 billion the previous year. The board also proposed a dividend of EUR0.63 per share, a 21% increase over the previous year, when it was EUR0.52 per share.

The board of Assicurazioni Generali - up 0.3% - announced on Thursday that it had approved its accounts, closing with a net profit of EUR4.17 billion, up 12% from EUR3.72 billion in the previous year. The board of directors will propose a dividend of EUR1.64 per share, an increase of nearly 15% from the EUR1.28 paid last year, and a EUR500 million buyback plan, confirming the group's commitment to strengthening shareholder remuneration.

On the cadet segment, Salvatore Ferragamo shows strength, rising 7.4% after Wednesday evening's 0.3% loss.

Sesa is advancing 3.6% to EUR81.10 per share following the publication of strong 2025 results. Profit stood at EUR64.5 million, up 16% compared to EUR55.6 million in the corresponding period of the previous year.

WIIT is taking a step back by 2.8%. On Wednesday, the company approved its 2025 financial statements, closing with an adjusted net profit of EUR16.5 million, a 12% increase compared to the EUR14.8 million recorded in 2024. The consolidated figure was EUR10.4 million, up from EUR9.3 million last year. The board also proposed a gross dividend of EUR0.30 for each outstanding share, in line with last year.

Webuild is shedding 9.5%, despite an excellent set of 2025 results, which saw adjusted net profit attributable to shareholders rise to EUR280 million from EUR247 million in 2024. The board proposed the distribution of an ordinary dividend of EUR0.081 and a coupon of EUR0.26 per savings share, unchanged from last year.

The board of ERG - in the red by 7.4% - approved its 2025 accounts on Wednesday evening, closing with a net profit of EUR65 million, down from EUR187 million in the previous year. The proposed dividend is EUR1.0 per share, unchanged from last year.

On the Small-Cap, Bastogi shows strength, rising 5.4% following a 1.5% gain the previous day, bringing its market cap up 32% since the beginning of the year.

Geox Spa - down 0.2% - announced Wednesday that it closed the 2025 fiscal year with a loss of EUR16.2 million, an improvement over the EUR30.3 million loss recorded in 2024, despite the group incurring non-recurring costs of EUR12.1 million during the year related to restructuring the operating model to improve efficiency and sustainability.

Esprinet - down 14% - announced Wednesday that it closed 2025 with a net profit of EUR20.2 million, down from EUR21.5 million recorded in 2024. Pre-tax profit rose to EUR31.6 million from EUR28.9 million in the previous year, while net profit per ordinary share stood at EUR0.41 compared to EUR0.44 in 2024.

For Centrale del Latte d'Italia, the decline is 2.3%, with the price hovering around EUR4.30 per share.

Among SMEs, Farmacosmo is advancing 5.5% to EUR0.51 per share, following a 1.5% gain the previous day.

Bellini Nautica is advancing 4.4% after a 4.2% gain the previous day, with the price around EUR2.79.

Datrix - up 1.2% - announced Thursday that it will be a partner of Wired Health Beyond, an event dedicated to innovation in the healthcare sector scheduled for March 18 at BASE in Milan. The participation marks the group's official entry into the Healthcare market, where the company intends to offer artificial intelligence solutions aimed at hospitals, pharmaceutical companies, and healthcare organizations.

Maps - bearish by 1.3% - announced Wednesday that it had been awarded a new project within the digital healthcare framework of the Abruzzo Region, for a total value of approximately EUR1.9 million, half of which has already been ordered.

In New York, in pre-market trading, the Dow Jones is posting a loss of 0.6%, while the S&P 500 is shedding 0.4%, as is the Nasdaq.

Among Asian markets, the Hang Seng retreated 0.7%, the Nikkei closed down 1.0%, while the Shanghai Composite ended the session shedding 0.1%.

On the currency front, the euro is changing hands at USD1.1556 from USD1.1643 on Tuesday, while the pound trades at USD1.3390 from USD1.3452 yesterday evening.

Among commodities, Brent is trading at USD96.25 per barrel from USD92.62 per barrel on Wednesday, while gold is worth USD5,182.86 per ounce from USD5,167.50 per ounce yesterday evening.

Thursday's macroeconomic calendar includes initial jobless claims from the US at 1330 CET, while at 2130 CET - as every Thursday - the Federal Reserve's weekly balance sheet will be published.

By Maurizio Carta, Alliance News reporter

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