(Alliance News) - Major European markets are trading cautiously on Monday at the midday mark. The war in the Middle East continues to dominate investor attention, amid fresh hopes of de-escalation regarding a potential breakthrough in the standoff between Iran and the US.

Tehran has reportedly proposed reopening the Strait of Hormuz in exchange for the lifting of the US naval blockade, while the Iranian Foreign Minister is currently in Russia to review the situation in the Gulf.

Trade tensions also remain elevated between China and the EU. The Old Continent has introduced a regulatory package aimed at substantially limiting Chinese competition, while Beijing has already signaled its refusal to remain passive in the face of measures it deems 'systematic discrimination'.

Against this backdrop, the MIB is trading up 0.2% at 47,740.01 points, the Mid-Cap is up 0.5% at 58,006.40, the Small-Cap has gained 0.4% to 35,121.24, and Italy Growth is up 0.4% at 8,843.37 points.

Other European bourses are also in positive territory: the CAC 40 is up 0.4%, the DAX 40 has gained 0.6%, and the FTSE 100 is up 0.1%.

On Piazza Affari, press reports suggest that at the beginning of the year, Berlin approached other European banks to curb UniCredit's ascent in Commerzbank. UniCredit shares are currently up 0.8%, confirming the significant tensions surrounding a potential change of control at the Frankfurt-based institution.

Remaining within the banking M&A landscape, the new board of Monte dei Paschi di Siena, down 0.4%, is showing signs of deep division, complicating the path for CEO Luigi Lovaglio. The new board, marked by a 'brick wall' standoff, has yet to define four key committees — risk, related parties, sustainability, and digitalization — deferring decisions to the coming days.

RBC has reiterated its 'sector perform' rating on Eni — up 0.3% — with a price target of EUR28. This follows an estimate update after Q1 2026 results, which were judged as mixed overall but accompanied by more favorable forward-looking guidance.

Terna, trading down 0.2%, announced the consensual termination of its relationship with CEO and General Manager Giuseppina Di Foggia, effective May 5, ahead of the board renewal.

Intesa Sanpaolo, seeing daily gains of 0.4%, announced that Eurizon Capital SGR has expanded its ETF offering to include bond funds, 'designed for the asset allocation needs of investors'. The full offering comprises 33 sub-funds — 16 equity and 17 bond — currently managing volumes exceeding EUR19 billion.

Saipem leads the gainers, up 5.0% at EUR4.555 per share, followed by a solid performance from Tenaris, up 1.6% at EUR27.22. Avio sits at the bottom of the basket with a 4.4% decline to EUR31.03 per share.

On the Mid-Cap, Webuild — gaining 1.8% — announced it has initiated an evaluation regarding the issuance of senior unsecured fixed-rate bonds to refinance debt. Consequently, discussions have commenced.

Cementir Holding, down 2.5%, announced that Francesco Caltagirone Jr., the sole executive director, will continue to serve as Chief Executive Officer and Chairman, in line with the company's bylaws.

The board appointed Alessandro Caltagirone and Azzurra Caltagirone as vice-chairmen, while Adriana Lamberto Floristan will take on the role of senior non-executive director.

ENAV is down 1.3% at EUR4.978 per share, while Alerio Clean Power, which touched its 52-week high, is trading up 4.7% at EUR25.80 per share.

On the small-cap front Monday, Borsa Italiana announced that trading in OPS Retail is suspended until further notice.

CSP International — down 1.9% — reported that 2025 closed with a net loss of EUR700,000, widening from a loss of EUR400,000 in 2024.

Revenue stood at EUR86.7 million, down 2.5% from EUR88.9 million in 2024, amid weak demand in its core markets.

Sogefi, up 8.5% at EUR2.125 as the day's top performer, announced it closed the first quarter of 2026 with a net profit of EUR10.9 million, up from EUR9.0 million in the same period of 2025.

Revenue reached EUR250.2 million, a 2.3% decrease at current exchange rates compared to EUR256.0 million, but up 0.7% at constant exchange rates.

Among SMEs, SolidWorld Group — down 0.9% — announced that in the first quarter, its software business unit, specifically the 'SolidWorks' division, recorded revenue growth of 15% compared to the same period in 2025.

This result was primarily driven by the success of new AI technologies applied to CAD and the consolidation of the positive impact of the SaaS (Software as a Service) sales model introduced last year.

Racing Force, up 0.2%, announced that Racing Spirit, the group's premium technical apparel brand, has opened a new shop-in-shop in Porto Cervo Marina, adjacent to the Yacht Club Costa Smeralda in Piazza Azzurra.

Italian Wine Brands is up 0.6%. The Italian wine sector is facing a complex phase, Corriere della Sera reported Monday, marked by a 3.7% drop in exports in 2025 and shifting consumption patterns, with sparkling wines and Prosecco proving more resilient than reds. In this context, IWB identifies growth opportunities by focusing on innovation and new markets.

The board of Convergenze, which saw no trades, approved management data as of March 31, showing revenue of EUR6.8 million, nearly in line with the EUR6.9 million recorded in Q1 2025.

During the period, the group continued its infrastructure development, exceeding 13,100 kilometers of laid fiber, a 9.5% increase compared to over 12,000 kilometers in the same period the previous year.

In New York on Friday night, the Dow lost 0.2%, the Nasdaq advanced 1.6%, while the S&P 500 gained 0.8%.

On the currency front, the euro is trading at USD1.1744 from USD1.1707 on Friday evening, while the pound is at USD1.3552 from USD1.3503 last night.

Among commodities, Brent crude is trading at USD108.01 per barrel from USD105.70 on Friday evening, while gold is valued at USD4,703.61 per ounce from USD4,722.30 last night.

Monday's economic calendar includes US Treasury auctions for three-month and five-year notes at 1730 CEST.

By Michele Cirulli, Alliance News reporter

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