(Alliance News) - On Tuesday, Europe's major markets moved with a sense of fragility, except for the Mib, which during trading reached its all-time high at 46,500.19 points before settling with a 0.7% gain.
2025 has marked a year of strong contrasts for Italian financial markets, as noted by Consob.
On one hand, exceptional equity performance and a clear improvement in the perception of sovereign risk; on the other, persistent structural weaknesses continue to limit the role of capital markets in supporting the country's economic growth.
Meanwhile, according to ECB-Watch, for the upcoming European Central Bank meeting in February, the market is pricing in an 89% probability that interest rates will be confirmed, keeping the deposit rate at 2.00%.
The Mib closed up 0.9% at 46,420.52, the Mid-Cap down 0.8% at 59,999.47, the Small-Cap in the red by 1.2% at 36,670.16, and the Italy Growth index contracted by 0.4% to 8,762.52 points.
Other markets were negative: the CAC 40 fractionally down at 8,180 points, the DAX 40 by 0.1%, and the FTSE 100 by 0.3%.
"Markets have shown mixed reactions globally. After a climb to record highs in several Asian equity markets, U.S. stocks gave up their historic highs, dragged down by losses in technology stocks as valuations for chipmakers and AI-related stocks came under renewed scrutiny, pulling down the S&P 500 and the Nasdaq," IG analysts observed.
In Milan, DiaSorin led the buying with a 4.1% rise to EUR74.32 per share after submitting a request to the FDA for authorization of the LIAISON NES Group A Strep molecular test, designed for rapid diagnosis of Group A Streptococcus in Point-of-Care settings.
Banca Mediolanum, flat at EUR20.22 per share, closed 2025 with a record net profit of EUR1.24 billion, up 11% compared to 2024, benefiting from operating margin growth and a strong contribution from managed assets.
Leonardo, up 0.7%, and Adani Defence & Aerospace, active in the defense and aerospace sector and a leading player in India, announced on Tuesday the signing of a Memorandum of Understanding.
The renewal of the board of directors at Monte dei Paschi di Siena is entering its decisive phase, with a vote scheduled for the April 15 shareholders' meeting. Tomorrow, the extraordinary meeting chaired by Nicola Maione is set to approve statutory changes, including the introduction of the board list. Initial indications from proxy advisors point to participation above 70%, with funds accounting for about 60% of the free float; the resolution will require a two-thirds majority. MPS shares fell by 0.6%.
Market attention remains high on Generali – up 1.6% – following rumors of a possible meeting between UniCredit CEO Andrea Orcel and the Trieste-based group's CEO, Philippe Donnet. Despite denials from UniCredit, which has entered a black period, and no comment from Trieste, the dossier continues to attract interest. UniCredit shares closed up 2.2%.
Nexi dropped 4.9% to EUR3.41 per share. Amplifon fell 2.8% to EUR13.23 per share after its Danish peer Demant published 2026 forecasts below analysts' expectations.
On the Mid-Cap, MAIRE – up 1.1% – announced that Tecnimont and Baker Hughes have signed a non-exclusive memorandum of understanding to explore cooperation opportunities on modular and scalable global liquefied natural gas projects.
Juventus Football Club, down 2.5% on the day, reached an agreement with Bologna FC 1909 for the temporary free acquisition of player Emil Alfons Holm until June 30. The agreed fee for a potential permanent transfer is EUR15 million, payable over three years.
PharmaNutra – down 0.5% – remains one of TP ICAP Midcap's Top Picks, which confirmed its 'buy' recommendation and an unchanged target price of EUR74.00, representing a potential upside of 17% from current prices. The rating reflects the strong operating momentum of SiderAL, which continues to strengthen its presence in the USA at the start of 2026.
Avio gained 3.6%, while Reply, which hit a 52-week low, fell 8.9%.
On the Small-Cap, Gefran – flat at EUR10.60 – has started construction of a new production and technology hub in Provaglio d'Iseo, in the province of Brescia, which will also become the group's new headquarters. The total investment amounts to EUR20 million and involves the redevelopment and expansion of a building already owned by the company.
OPS Retail, which subscribed to the second tranche of the EUR15 million POC, closed up 11% at EUR0.0354 per share, while Industrie De Nora finished at the bottom of the basket with an 11% loss at EUR6.75 per share.
Met.Extra Group saw buying, up 5.6% at EUR1.89 per share.
Among SMEs, Intred, up 1.4%, reported total revenues in 2025 exceeding EUR55.8 million compared to EUR55.2 million in 2024. The network was further extended, from over 13,500 km at the end of 2024 to about 15,000 km as of December 31, 2025.
In AATECH, which closed up 1.0%, the capital increase operation excluding pre-emptive rights was completed for just under EUR1.3 million, through the issue of up to 2.5 million new ordinary shares with no par value.
Doxee reviewed preliminary 2025 results, closing with sales revenue between EUR30.7 million and EUR31.0 million, up more than 15% from EUR26.5 million in 2024, thanks mainly to excellent performance in the DACH area and positive trends in the Italian market, supported by repositioning in the top enterprise segment. The stock gained 3.7%.
Circle, down 0.7%, completed the TRUST project, co-financed by the Liguria Region's 2021-2027 ERDF Regional Program with a contribution of about EUR110,000. Project partners included Click & Find, Leolabs, Tarros, and the University of Genoa.
RT&L – up 0.1% – announced the appointment of Eleonora Bonifazio as the group's Chief Financial Officer and Investor Relations Manager. With Bonifazio's arrival, Roberto Bizzarri, CEO of RT&L, ends his role as Investor Relations Manager.
In New York, the Dow Jones slipped 0.1%, the S&P 500 lost 0.7%, while the Nasdaq dropped 1.3%.
On the currency front, the euro changed hands at USD1.1812 from USD1.1802 at Monday's close of the European stock market, while the pound traded at USD1.3697 from USD1.3648 on Monday evening.
Among commodities, Brent traded at USD67.01 per barrel from USD66.12 on Monday, while gold was valued at USD4,968.16 an ounce, up from USD4,675.45 an ounce on Monday evening.
On Wednesday's economic calendar, at 0845 CET, Italy's services PMI and composite PMI are scheduled, with a similar report for France at 0845 CET and for Germany at 0855 CET.
The Eurozone services PMI and composite PMI will be released at 0900 CET, while at 1000 CET, the consumer price index for Italy and the Eurozone will be assessed.
In the USA, attention will turn to mortgage data at 1200 CET, with the services and manufacturing PMI figures due at 1500 CET.
On Piazza Affari, results are expected from Anima Holding, Pattern, and Racing Force.
By Michele Cirulli, Alliance News Reporter
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