(Alliance News) – On Friday, European stock markets are trending higher, although sentiment remains cautious as traders closely monitor developments in the Middle East geopolitical landscape.

The White House has announced that President Trump will make a decision within two weeks regarding a possible military intervention against Iran, a statement that has temporarily eased fears of an imminent escalation by the US.

Meanwhile, Geneva is set to host the first high-level diplomatic summit between European and Iranian representatives since the start of the conflict, an event that markets will be watching closely to assess its potential impact on geopolitical risk, energy flows, and overall sentiment.

The FTSE Mib is up 1.2% at 39,405.49 points, with a put/call ratio of 1.21.

Among the secondary indices, the Mid-Cap is up 1.0% at 53,345.59 points, the Small-Cap rises 1.2% to 30,908.75 points, while the Italy Growth index advances 0.3% to 8,144.65.

Frankfurt's DAX is up 1.0%, Paris' CAC climbs 0.7%, while London's FTSE 100 gains 0.6%.

On the Mib, Azimut is leading the pack, rising 3.9% after closing 1.4% lower in the previous session.

Telecom Italia is up 2.3% at EUR0.4020, hitting a new 52-week high during trading at EUR0.4033 per share.

STMicroelectronics advances 1.9% to EUR25.39 per share. Notably, Deutsche Bank has lowered its price target on the stock to EUR30.00 from the previous EUR26.00.

Snam, on the other hand, is down 0.3% after three bullish sessions, trading around EUR5.25 per share.

Italgas – down 0.1% – announced Thursday that the option period for shareholders to subscribe to up to 202.9 million new ordinary Italgas shares, resulting from the capital increase approved by the shareholders' meeting on April 10, has ended.

During the subscription period, which began on June 2, shareholders exercised 801.2 million option rights for the subscription of 200.3 million new shares, representing about 98.7% of the total new shares offered, for a total amount of EUR1 billion.

On the Mid-Cap, Technoprobe is up 1.3% after two bearish sessions, trading around EUR7.25 per share.

Strength is also seen in Moltiply Group, up 1.3% and aiming for a third consecutive bullish close.

Cembre rises 2.0% to EUR56.80 per share, having set a new 52-week high at EUR57.00 during trading.

Juventus Football Club – up 1.1% – announced Thursday it has renewed its technical partnership contract with adidas until June 30, 2037. The current agreement, valid until June 30, 2027, remains unchanged; the new deal will last ten years, from the 2027-2028 season through the 2036-2037 season inclusive.

During this period, adidas will continue as the technical partner for all Juventus teams, with a total fixed consideration of EUR408 million for the duration of the agreement.

Lottomatica – up 1.2% – announced Wednesday it has launched its EUR500.0 million buyback plan. The plan will last no more than 18 months and, as of now, the company holds no treasury shares.

Among the few decliners, Technogym slips 0.5% after falling 2.6% in the previous session.

On the Small-Cap, Class Editori continues its rally, rising 9.6% to EUR0.1770. Francesco Gaetano Caltagirone has increased his stake in Class Editori to 5.163% of the capital via the holding VM 2006, according to a transaction dated June 11, 2025. The stake increase comes ahead of the publisher's shareholders' meeting scheduled for June 26 and 27.

The update comes from Consob's records on significant shareholdings, confirming a substantial rise from the 2.5% threshold recorded in previous days and attributed to the same Roman entrepreneur.

Avio, meanwhile, is up 5.4% after gaining 2.1% in the previous session, trading at EUR22.50. During the session, the price hit a new 52-week high at EUR22.85 per share.

Fiera Milano – down 0.5% – announced it has won the tender launched by Fondazione Milano Cortina 2026 for the contract covering the design, management, and dismantling of temporary infrastructure to be hosted at the Rho exhibition center for next year's skating and ice hockey events.

The total value of the contract is EUR30.7 million, based on the Interim Agreement signed between Milano Fiera and Fondazione Milano Cortina 2026.

Enervit is down 1.8% to EUR3.20 per share, after gaining 0.6% in the previous session.

Pininfarina is also down 0.7% to EUR0.8040 per share. The stock – which hasn't paid a dividend since 2005 – had gained a total of 3.8% over the previous two sessions.

Among SMEs, Compagnia dei Caraibi rises 3.9% to EUR0.2920, rebounding after two sessions in which it lost over 12% in aggregate.

ErreDue is up 2.0% at around EUR7.85. According to MarketScreener – based on the evaluation of a single analyst – the stock has a target price of EUR10.30, indicating an undervaluation of around 33%.

ICOP – up 3.9% – announced Thursday that it has completed the full conversion of 2.4 million Price Adjustment Shares into an equal number of ordinary shares, with no change to the company's share capital.

The conversion of PAS into ordinary shares followed confirmation that the 2024 Ebitda target of EUR40 million had been reached.

Among the decliners – a clear minority on the list – Gambero Rosso falls 3.2%, subject to profit taking after two strong sessions.

US markets remained closed for the Juneteenth holiday.

In Asian markets, the Nikkei closed down 0.2%, the Shanghai Composite slipped 0.1%, while the Hang Seng ended up 1.3%.

In currencies, the euro trades at USD1.1526 versus USD1.1470 on Thursday evening, while the pound trades at USD1.3490 compared to USD1.3428 in the previous session.

In commodities, Brent is trading at USD76.93 a barrel from USD78.37 at the previous close, while gold is at USD3,356.10 an ounce from USD3,365.775 at the previous close.

Friday's economic calendar includes, at 1430 CEST, Canadian retail sales data and the Philadelphia Fed Business Outlook in the US.

By Maurizio Carta, Alliance News Reporter

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