Mib Slips to 39,200 with Cucinelli at the Rear

(Alliance News) - European stock markets opened Thursday's session in negative territory, weighed down by the deepening deterioration of the geopolitical landscape and lingering uncertainty regarding the direction of global monetary policies.

The market atmosphere remains cautious, following the escalation of tensions in the Middle East and the growing risk of direct U.S. military intervention.

Traders also priced in the latest signals from the Federal Reserve, which at Wednesday's meeting opted to keep interest rates unchanged. Chairman Jerome Powell warned of a possible reacceleration of inflation, partly fueled by new tariff measures proposed by the Trump administration.

On the geopolitical front, the standoff between Israel and Iran has reached a particularly delicate phase. President Trump stated that the U.S. could directly participate in Israeli air operations against Tehran. At the same time, he acknowledged signs of willingness to engage in dialogue from the Iranian government. Meanwhile, European leaders are preparing for a strategic meeting scheduled for Friday, focused on the Iranian nuclear program.

In Milan, 7% of stocks are up, 17% are down, 2% are unchanged, while 74% have yet to trade, with turnover at around EUR650 million.

The FTSE Mib is thus down 0.3% at 39,291.99 points.

Among European financial hubs, London's FTSE 100 is down 0.4%, Paris's CAC is losing 0.7%, while Frankfurt's DAX 40 is retreating by 0.4%.

Among the secondary indices, the Mid-Cap is down 0.7% at 53,191.82 points, the Small-Cap is slipping 0.3% to 30,899.98 points, while Italy Growth is advancing 0.2% at 8,133.18 points.

On the Mib, Brunello Cucinelli is falling 2.8%, pulling back after three bullish sessions.

Mediobanca - down 0.7% - announced it purchased 223,500 of its own ordinary shares on June 18. The shares were bought at an average price of EUR19.31, for a total value of EUR4.3 million.

Amplifon is down 2.2%, after gaining 1.5% in the previous session.

Among the few gainers, Tenaris continues its rise, up 0.7% at EUR15.88 per share after dropping 0.9% in the previous session.

Eni is also up 0.7% at EUR14.27 per share, marking its third consecutive bullish session.

Saipem - flat at EUR2.40 - announced Thursday that it has been awarded a Front End Engineering Design contract by Sonatrach for the Phosphate Integrated project, aimed at fertilizer production in Algeria. The contract was awarded through a competitive dual FEED process, with design activities to be conducted by both Saipem and a competing operator.

On the Mid-Cap, Alerion is up 0.9% after two bearish sessions, trading around EUR16.28 per share.

OVS is up 1.1%, building on a 3.7% gain in the previous session.

Salvatore Ferragamo is down 2.7%, marking its third consecutive bearish candle and trailing the index.

Sanlorenzo is also slipping 1.8%, in its third straight session of losses.

Intercos is down 2.1% after gaining 0.3% in the previous session.

On the Small-Cap, Bestbe Holdings is surging over 11% to EUR0.12, easily topping the index.

Gas Plus is up 2.7% at EUR4.96, after hitting a new 52-week high of EUR5.04 per share during trading.

Fiera Milano - down 1.4% - announced it has won the tender launched by Fondazione Milano Cortina 2026 for the contract to design, manage, and dismantle temporary infrastructure at the Rho exhibition center, which will host skating and ice hockey events next year. The total contract value is EUR30.7 million, according to the Interim Agreement signed between Milano Fiera and Fondazione Milano Cortina 2026.

Softlab closes out the index, down 5.0%, as investors take profits after three bullish sessions.

Among SMEs, Allcore is up 4.6% after falling 2.3% the previous day.

Alfonsino - up 2.7% - announced Thursday the signing of an exclusive contract with Superò Srl - a major retail brand - to launch grocery delivery service initially at one store, with a start date set for June 25.

Metriks AI - up 1.4% - said it has launched a buyback program for 375,000 ordinary shares approved by shareholders. During the plan, which will last no more than 18 months, the company may invest up to EUR750,000 in repurchases.

IMD - up 1.5% - announced that its subsidiary IMD Generators Srl has obtained a 20-year national patent for its new 50 kW Monobloc. As planned and stated during its IPO, IMD Generators' R&D team "has leveraged its extensive know-how and productively invested resources to present the market with a true innovation: the 50 kW Monobloc," the company said.

In New York - closed today for a holiday - the Dow fell 0.1% last night, the Nasdaq gained 0.1%, while the S&P 500 ended just below flat.

In Asia, the Nikkei lost 1.0%, the Hang Seng closed down 2.0%, while the Shanghai Composite slipped 0.9%.

In currencies, the euro is trading at USD1.1473 from USD1.1507 on Wednesday evening, while the pound is at USD1.3420 from USD1.3452 the previous evening.

In commodities, Brent is trading at USD76.82 per barrel from USD75.48 at the previous close, while gold is valued at USD3,371.30 per ounce from USD3,385.56 at the previous close.

Thursday's economic calendar features the Bank of England's interest rate decision at 1300 CEST.

By Maurizio Carta, Alliance News Reporter

Comments and questions to [e-mail]

Copyright 2025 Alliance News IS Italian Service Ltd. All rights reserved.