(Alliance News) - European markets kicked off Thursday's session with a decline - with only Milan showing a slight increase - thus interrupting a two-day mini-rally. Sentiment deteriorated amid continuing geopolitical uncertainty on the trade front and mixed signals from international counterparts.
US Treasury Secretary Scott Bessent poured cold water on expectations of a quick thaw in relations with Beijing, stressing that President Trump has not signaled any intention to unilaterally remove existing tariffs. At the same time, the Chinese Ministry of Commerce reiterated that a resumption of dialogue will require a more cooperative approach from Washington.
At the beginning of the week, financial markets had reacted positively to rumors of a possible de-escalation, but the optimism proved short-lived.
As a result, the FTSE Mib is up 0.2% at 36,470.63 points.
Among other European markets, the FTSE 100 in London is just above par, while the CAC 40 in Paris is down 0.7%, as is the DAX 40 in Frankfurt.
Among the smaller indices, the Mid-Cap is down 0.4% at 48,399.55, the Small-Cap is down 0.2% at 28,435.47 and the Italy Growth is up 0.3% at 7,663.15.
In the blue chip segment, Eni - down 2.4% - announced on Thursday that it had closed the first quarter of the year with adjusted net income of EUR 1.41 billion, down from EUR 1.58 billion as of March 31, 2024. In the three months, adjusted pro forma operating income stood at EUR 3.68 billion, down from EUR 4.12 billion in 2024.
STMicroelectronics, up 2.1%, reported financial results in accordance with US GAAP for the first quarter ended March 29, closing with net income down to USD 56 million from USD 513 million in the same quarter last year.
Pirelli - up 0.4% - announced that it has signed a preliminary agreement with CTS, an independent operator specialising in retail and services in the tyre industry in Northern Europe, for a long-term strategic partnership. The agreement, as reported in a statement, will enable the company to strengthen its commercial presence and High Value strategy in the region, and CTS to further strengthen its ability to serve customers throughout Sweden.
Stellantis' sales fell by 0.6% in March in Europe, in line with the performance of the European market, where registrations fell by 0.2% month-on-month after a 3.4% decline in February. As shown on Thursday by data from the ACEA, the European Automobile Manufacturers' Association, the giant born from the merger of PSA Groupe and Fiat Chrysler Automobiles recorded a 5.9% decline compared to March 2024, with its market share falling to 15.1% in March from 16.5% in the same month last year.
Iveco, on the other hand, is down 1.8%, after a 2.3% gain the previous day.
In the junior segment, there were good purchases on PharmaNutra, which rose 1.8% after three sessions of decline.
Alerion is also strong, up 1.8% after two sessions of decline.
d'Amico International Shipping - up 0.1% - announced on Wednesday that it had purchased 99,000 ordinary shares between April 14 and 17, for a total value of approximately EUR300,000.
Lottomatica Group, down 0.1%, announced on Wednesday the issuance of senior secured bonds maturing in 2031, for a total amount of EUR 600 million. The proceeds will be used to repay in full the 7.125% senior secured bonds maturing in 2028, for a total value of EUR 565 million, including interest and redemption premium, and to cover the costs related to the transaction and the modification of the revolving credit facility.
On the Small-Cap market, Giglio.com advanced by more than 10%, bringing the price to EUR0.3180.
The board of Itway, which has not yet set a price, announced on Wednesday that its net result for the year was EUR 465,000, compared with a loss of EUR 330,000 in the previous year.
Zest rose 8% in its fifth session of gains.
At the bottom of the table is Pininfarina, which is down 2.4% at around EUR0.74, after three bullish sessions.
Among SMEs, Destination Italia rose 7.7%, after gaining 7.9% in the previous session.
Eprcomunicazione, up 0.9%, announced on Thursday that Justbit, the group's digital factory, had been awarded a EUR 208,000 contract to manage promotional activities on behalf of a multinational food and beverage company.
SolidWorld Group - down 0.4% - announced on Wednesday the completion of the sale on the stock exchange of unexercised option rights, with the placement of approximately 4.4 million unexercised rights.
In New York, the Dow Jones closed up 1.1% yesterday evening, the Nasdaq up 2.5%, while the S&P 500 ended the day up 1.7%.
In Asia, the Nikkei was up 0.5%, the Hang Seng was down 1.0%, while the Shanghai Composite closed just above par.
Among currencies, the euro traded at USD 1.1376 from USD 1.1359 at the close of European trading on Wednesday. The pound traded at USD 1.3286 from USD 1.3265 yesterday evening.
Among commodities, Brent crude rose to USD 67.00 per barrel from USD 65.77 per barrel at the close of European trading on Wednesday. Gold traded higher at USD 3,324.31 per ounce from USD 3,284.95 per ounce yesterday evening.
Thursday's macroeconomic calendar includes the release of the ifo index on business confidence in Germany at 1000 CEST.
From the US, at 2:30 p.m. CEST, it is time for the durable goods report and jobless claims, while at 10:30 p.m. CEST, the Federal Reserve's weekly balance sheet will be available.
In the corporate calendar, quarterly results are expected from Convergenze, Next Re, and Sogefi.
By Maurizio Carta, Alliance News reporter
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