(Alliance News) – On Thursday, major European stock indices are expected to open in negative territory, reflecting investor sentiment weighed down by the geopolitical stalemate in the Middle East.
Yesterday, the Federal Reserve kept interest rates unchanged and signaled a continued cautious stance.
The impasse in the Strait of Hormuz continues to support oil prices and the dollar, putting pressure on government bonds as inflation expectations rise.
On the corporate front, quarterly results from US Big Tech were generally solid, with few disappointments.
Today, attention shifts to the decisions of the Bank of England and the European Central Bank, both of which are expected to leave rates unchanged, though focus will remain on forward guidance.
The agenda also includes significant macroeconomic data, including US and Eurozone GDP, European inflation, and US jobless claims.
Consequently, the FTSE MIB is called down 1.3% or 622.5 points, after falling 0.5% on Wednesday to 47,796.03.
In Europe, London’s FTSE 100 is expected to open 0.2% lower, Paris’s CAC 40 is indicated down 1.0%, while Frankfurt’s DAX 40 is expected to trade in the red by 1.0%.
In Milan on Wednesday evening, the Mid-Cap rose 0.4% to 57,961.04, the Small-Cap fell 1.1% to 34,445.72, while Italy Growth shed 0.1% to 8,826.18.
On the blue-chip index of Borsa Italiana, Hera lost 3.5% following a 0.4% gain in the previous session.
Enel shed 2.8%, after a 1.6% decline the day before, closing at EUR9.66 per share.
Fincantieri – down 1.0% – announced it has signed an agreement with Kayo to create a joint venture in Albania for shipbuilding and maintenance, with the Italian group holding a 51% stake and the company controlled by the Albanian Ministry of Defense holding 49%. The agreement, signed in Tirana in the presence of Prime Minister Edi Rama and Defense Minister Ermal Nufi, represents the evolution of two memoranda of understanding signed in 2025 and aims to develop strategic industrial cooperation between the parties.
UniCredit – down 0.1% – announced on Wednesday the exercise of its option for the full early redemption of a USD1 billion bond issue with a 1.982% coupon, featuring a fixed-to-fixed rate structure and an original maturity in 2027. The securities, issued on June 3, 2021, will be redeemed early on June 3, following authorization from the Single Resolution Board.
STMicroelectronics gained 6.0% to EUR44.71 per share, following two sessions ending with bullish candles. During the session, the stock hit a new 52-week high of EUR45.52.
Nexi advanced 2.9% to EUR3.96 per share. According to the Financial Times, CVC is revisiting the Nexi dossier and considering a EUR9 billion bid, including debt, with the aim of delisting the company from Borsa Italiana. The British fund’s plan reportedly involves a break-up of the group, with the interbank network destined for Cassa Depositi e Prestiti and the remaining activities under CVC’s control for a turnaround.
Eni rose 1.0% to EUR23.64 per share. Berenberg confirmed its ‘hold’ recommendation on the stock with a target price of EUR22.00, compared to a market price of EUR23.42 on April 28 and a market capitalization of EUR71.99 billion, believing that recent performance has already priced in much of the value.
In the report authored by Henry Tarr, James Carmichael, Richard Dawson, and Seb D’Arcy Rice, analysts highlighted a first quarter of 2026 that fell short of expectations, with adjusted Ebit 11% below consensus and cash flow 15% lower, penalized primarily by losses in the Refining and Chemicals segment, weakness in Enilive and Plenitude, and higher corporate costs.
On the secondary segment, Safilo retreated 4.4% to EUR1.59 per share, marking its fourth consecutive bearish candle.
Salvatore Ferragamo shed 5.0% to EUR7.26 after a 0.3% gain the previous day. Notably, Jefferies initiated coverage on the stock with an ‘underperform’ rating and a target price of EUR5.50.
Webuild – up 0.4% – announced on Tuesday that it has priced EUR500 million in senior unsecured fixed-rate notes with a six-year maturity and a 4.5% annual coupon. The transaction saw demand exceeding five times the offer, with orders from over 250 investors.
MAIRE – bullish with a nearly 13% gain – reported first-quarter results on Wednesday that ‘confirm the group’s resilience and growth,’ posting a profit of EUR76.7 million, up 20% from EUR64 million in the same period of 2025, with a margin on revenue of 4.2%, up 40 basis points.
On the Small-Cap index, Aeffe shed 8.5%, marking its fifth consecutive bearish session.
doValue – down 9.5% – announced that its shareholders’ meeting, convened to approve the 2025 financial statements, adopted further resolutions. Specifically, shareholders approved a new authorization for the buyback of up to 19 million shares, representing 10% of the capital, over an 18-month period. Furthermore, Francesco Maria Pansa was confirmed as a director until the approval of the 2026 financial statements.
Trevi Finanziaria Industriale – down 0.8% – announced on Tuesday that it secured contracts and orders totaling over EUR220 million in the first quarter, an increase of approximately EUR81 million compared to the same period in 2025. Specifically, the Trevi division recorded acquisitions of EUR193 million, while the Soilmec division collected orders exceeding EUR32 million.
IGD SIIQ – down 0.5% – announced on Wednesday that it has signed, through its subsidiary IGD Service, a contract for Property and Leasing Management activities for the ‘Poseidon’ shopping center with Kryalos SGR, which recently completed the acquisition of the asset on behalf of the Fondo Urania.
EPH – up 1.0% – announced on Tuesday the approval of a capital increase totaling EUR7.5 million as part of a capital strengthening operation reserved for Rona Limited Company. The transaction, structured in two tranches involving cash and in-kind contributions, is scheduled for subscription by May 30, 2026.
Among SMEs, Lindbergh advanced 2.9% to EUR12.40 per share, marking its sixth consecutive bullish candle.
Monnalisa rallied 7.6%, following a 7.0% contraction the previous day.
Xenia Hotellerie Solution – down 2.9% – reported closing the first quarter with total revenues of EUR17.9 million, up from EUR14.6 million as of March 31, 2025, an improvement of over 22%. Accommodation revenues stood at EUR12.9 million compared to EUR11.2 million, while Phi Hotels revenues reached EUR5.0 million from EUR3.4 million in the first quarter of last year.
Telmes – down 3.9% to EUR1.10 – announced on Wednesday the award of a EUR1.4 million contract for the construction of a hydrogen production, storage, and refueling plant at the Cosenza Vaglio Lise railway depot, managed by Ferrovie della Calabria.
In New York on Wednesday evening, the Dow lost 0.6%, the Nasdaq closed marginally higher, while the S&P 500 ended slightly in the red.
In Asia, the Nikkei is down 1.2%, the Hang Seng is shedding 1.1%, while the Shanghai Composite is up 0.1%.
On the currency front, as mentioned at the open, the dollar is strengthening, with the euro trading at USD1.1659 from USD1.1713 on Wednesday evening, while the pound trades at USD1.3460 from USD1.3498 on Wednesday evening.
Among commodities, Brent is trading at USD113.41 per barrel from USD117.60 per barrel on Wednesday evening, while gold is valued at USD4,565.64 per ounce from USD4,556.13 per ounce last night.
Thursday’s economic calendar includes German unemployment data at 0955 CEST.
At 1000 CEST, focus shifts to Italy’s Gross Domestic Product, followed by the unemployment rate at 1030 CEST and inflation at 1100 CEST.
At 1300 CEST, the Bank of England’s interest rate decision will be announced, while the ECB’s decision will follow at 1415 CEST.
At 1430 CEST, US PCE index data will be released, while at 2230 CEST, the Fed’s weekly balance sheet will be published.
On the Piazza Affari corporate calendar, results are expected from BasicNet, CrowdFundMe, FAE Technology, Itway, Softlab, Stellantis, and TMP Group.
By Antonio Di Giorgio, Alliance News reporter
Comments and questions to redazione@alliancenews.com
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