EU Stock Markets Open Higher, Leonardo Leads the Mib

(Alliance News) – On Friday, major European exchanges opened higher, riding the momentum from U.S. markets. Meanwhile, the European Union has introduced its eighteenth package of sanctions against Russia. The EU's High Representative for Foreign Affairs, Kaja Kallas, announced on "X": "We are determined. The EU has just approved one of the strongest sanctions packages against Russia to date."

Meanwhile, in the U.S., Congress has approved a plan that includes a cut of around USD8 billion in foreign aid funding and USD1.1 billion for public broadcasters.

Against this backdrop, the FTSE Mib opened up 0.5% at 40,295,343.77 points, the Mid-Cap rose 0.3% to 55,590.09, the Small-Cap gained 0.5% to 32,223.26, and the Italy Growth index edged up 0.1% to 8,282.12 points.

Across Europe, Paris' CAC 40 and Frankfurt's DAX 40 both advanced 0.4%, while London's FTSE 100 rose 0.1%.

On the Mib, Leonardo led the way with a 1.5% increase to EUR48.28 per share.

Buzzi, which closed at the bottom yesterday, bounced back on Friday, rising 1.2% to EUR2.21 per share.

Stellantis, following a decision that sparked controversy in Italian political circles, is set to invest further in Kenitra, Morocco, doubling its production capacity there by 2030. The stock tumbled 4.1%.

The banking sector remains in focus. Caltagirone – flat at EUR7.10 – reiterated its support for the public exchange offer launched by MPS – up 0.4% – and its management, responding strongly to criticism from Mediobanca CEO Alberto Nagel, who had highlighted "four anomalies" in the deal. Mediobanca gained 0.7%.

On the Mid-Cap, Acea has launched the tender for the Peschiera aqueduct, worth EUR1.5 billion. The stock recovered 0.7% to EUR19.87 per share.

illimity Bank – up 0.5% – announced Friday that, following Banca Ifis's acquisition of around 93% of its share capital – Banca Ifis up 0.3% – ratings agency Moody's has upgraded all of illimity's ratings, aligning them with those of Ifis and resolving the previous "review for upgrade".

Tinexta led the index with a 14% surge, amid rumors about a potential sale of shares and subsequent delisting to Nextalia in partnership with Advent.

Intercos closed down 1.2%.

On the Small-Cap, doValue finalized the acquisition of coeo for EUR350 million, gaining 2.9%.

Fidia, which is seeking financial and industrial partners through Equita, topped the index with an 8.0% increase to EUR0.38 per share.

PLC was at the bottom, down 3.5%.

Class Editori advanced 2.8%, with 30 contracts signed and over 247,000 shares traded.

Among SMEs, Doxee posted the best opening with a 14% rise, mirroring Thursday's opening results.

Next, GEL advanced 4.8%, while Lemon Sistemi slid towards the bottom, down 3.7%.

Simone, which on Thursday announced it had completed the acquisition of 51% of Topipittori's share capital, saw no trading activity at the moment.

Ilpra announced it had finalized the purchase of 90% of Gelmini's share capital. The stock rose 1.8%.

Compagnia dei Caraibi reported Thursday that it is relaunching its omnichannel "Dispensa" project. The flagship store in Turin, located in Galleria Subalpina and opened in 2021, has undergone significant renovation and expansion, with an investment of around EUR500,000. The stock was flat at EUR0.325 per share.

In New York, the Dow Jones closed up 0.5%, the Nasdaq advanced 0.8%, and the S&P 500 ended up 0.5%.

In Asia, the Nikkei closed down 0.2%, the Shanghai Composite gained 0.5%, and the Hang Seng traded up 1.2%.

On the currency front, the euro changed hands at USD1.1623 from USD1.1588 at Thursday's close, while the pound traded at USD1.3428 from USD1.3410 on Thursday evening.

Among commodities, Brent crude traded at USD69.78 from USD68.57 per barrel at the previous close, while gold was valued at USD3,345.745 from USD3,333.63 per ounce on Thursday evening.

On Friday's economic calendar, at 1100 CEST, focus will be on Eurozone construction output.

At 1430 CEST in the U.S., attention turns to construction data, and from 2130 CEST, commodity reports will be released.

At 2130 CEST, the weekly CFTC report will provide a detailed analysis of net positions for "non-commercial" traders in the U.S. futures markets.

From Piazza Affari, half-year results from Arterra Bioscience are expected.

By Michele Cirulli, Alliance News Reporter

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