(Alliance News) – European stock markets opened without a clear direction on Friday, with Milan trending higher as investors weighed the resurgence of trade tensions and awaited fresh European macroeconomic data.
On Piazza Affari, 10% of stocks are trading up, 9% are down, 2% remain unchanged, while 79% have yet to trade. The total turnover exceeded EUR165 million.
Market sentiment remains fragile following the decision by the US Court of Appeals to reinstate tariffs imposed by President Donald Trump, overturning a previous federal ruling that had deemed them unlawful.
Adding to the uncertainty were comments from US Treasury Secretary Scott Bessent, who stated that trade negotiations with China are "at a standstill," implying that any tangible progress may depend on direct dialogue between the leaders of the world's two largest economies.
The FTSE MIB is therefore advancing 0.5% to 40,179.33 points, with a put/call volume ratio of 1.64.
London's FTSE 100 is up 0.4%, Paris' CAC 40 is down 0.1%, while Frankfurt's DAX 40 is rising 0.4%.
Among the minor indices, the Mid-Cap is up 0.3% at 54,656.80, the Small-Cap is gaining 0.4% at 31,858.81, while Italy Growth is down 0.1% at 8,079.16 points.
On the MIB, Banca Mediolanum is up 1.2%, reversing a three-session mini-downtrend.
Nexi is also showing strength, rising 1.0% to EUR14.74 per share after a flat session the previous day.
Snam – up 0.3% – announced it has successfully completed the accelerated bookbuilding of 83.3 million option rights reserved as part of Italgas' capital increase, with Italgas currently up 0.4%. The rights were sold at EUR0.396 each, for a total of EUR32.5 million, representing a 1.9% discount to their theoretical value.
Assicurazioni Generali – up 0.5% – announced Thursday its return to the Insurance-Linked Securities market by sponsoring, through Lion Re DAC, the issuance of a EUR200 million catastrophe bond split into two classes. The securities will cover European storm events and Italian earthquakes for a four-year period.
On the mid-cap segment, ERG leads the index, up 1.6% in its fourth consecutive bullish session.
Fincantieri is also up 1.7%, rebounding after two sessions in negative territory.
The Italian Sea Group is advancing 1.4% after two bearish sessions, with shares trading around EUR5.66 each.
Among the decliners – a minority on the index – SOL closes the segment down 1.4% at EUR44.55. Since the start of 2025, the stock has increased its market cap by around 25%.
On the Small-Cap, Zucchi is up 2.1%, bouncing back after three bearish sessions.
Valsoia – not yet traded, last price at EUR11.00 – announced Thursday the launch of its already-approved buyback program. Under the scheme, designed to provide shares for stock option plans, the company may purchase up to 200,000 ordinary shares, for a maximum of EUR2.5 million.
Safilo Group – also performing strongly with a 2.8% gain – announced Thursday the early renewal of its supply agreement with Kering Eyewear, extending the deadline to 2029.
On the downside, Aedes is down 3.3%, following a 1.1% gain in the previous session.
Borgosesia is also down 2.1%, in the red after three consecutive bullish sessions.
Among SMEs, Cloudia Research is up 3.2% after a 3.3% gain the previous day.
H-Farm – down 5.1% – reported a widened net loss in the first half, at EUR5.2 million compared to EUR4.2 million a year earlier. Production value rose to EUR20.9 million from EUR19.1 million, with operating costs increasing to EUR23.1 million from EUR21.1 million.
Valica – not yet traded, last price at EUR4.46 – announced Thursday it had changed the payment terms for the acquisition of Parallelozero Srl. Originally planned as a mix of cash and shares, the remaining EUR255,000 will now be paid entirely in cash to Parallelozero's former shareholders.
In Asia, the Nikkei closed down 1.2%, the Shanghai Composite lost 0.5%, while the Hang Seng fell 1.6%.
Last night in New York, the Dow closed up 0.3% at 42,215.73, the Nasdaq gained 0.4% to 19,175.87, and the S&P 500 rose 0.4% to 5,912.17.
In currencies, the euro is trading at USD1.1334 from USD1.1366 Thursday evening, while the pound is at USD1.3469 from USD1.3487 last night.
In commodities, Brent is trading at USD63.45 a barrel from USD63.38 Thursday evening, while gold is valued at USD3,296.49 an ounce from USD3,342.61 an ounce last night.
Friday's macroeconomic calendar includes Italy's GDP data at 1000 CEST, followed at 1100 CEST by the monthly national inflation reading.
At 1400 CEST, Germany will take the spotlight with the latest consumer price index figures.
In the afternoon, focus shifts to the US: at 1430 CEST, data will be released on the goods trade balance, personal consumption expenditure price index, annual PCE, personal income, and retail inventories excluding autos.
Among the companies listed on Piazza Affari, results are expected from Clabo, E-Globe, Giglio Group, Vantea SMART, and quarterly results from Gentili Mosconi.
By Maurizio Carta, Alliance News Senior Reporter
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