European futures surge following truce

(Alliance News) - European markets are poised for a sharply higher opening on Wednesday according to IG futures, after the US, Iran, and Israel agreed to a two-week ceasefire to facilitate negotiations on a potential deal to end the war.

US President Donald Trump has postponed planned strikes against Iranian civilian infrastructure in what he termed a "bilateral ceasefire", while Iran has agreed to reopen the Strait of Hormuz for two weeks, provided that transit is coordinated with the Iranian armed forces.

Global equity markets had faced heavy selling since the start of the conflict as surging energy prices heightened inflationary risks and bolstered expectations for interest rate hikes.

This morning, Brent and WTI futures plunged by more than 15%, approaching USD90 and USD95 per barrel respectively, following the announcement of the reopening of the Strait of Hormuz.

Consequently, the MIB is expected to open up 295.1 points or 2.9% after closing Tuesday's session down 0.5% at 45,411.79.

In Europe, the CAC 40 in Paris is expected to open in the green by 348 points or 4.4%, Frankfurt's DAX 40 is seen up 1,169.0 points or 5.1%, while the FTSE 100 in London is forecast to rise by 302.9 points or 2.9%.

Among Italy's secondary indices on Tuesday, the Mid-Cap fell 0.3% to 54,613.08, the Small-Cap shed 0.5% to 32,968.59, and Italy Growth - the only one in positive territory - closed up 0.2% at 8,400.85.

On the MIB, STMicroelectronics showed strength, closing up 4.2% at EUR30.30 per share, recovering from a 2.8% loss in the previous session.

Fincantieri gained 1.3% to EUR13.68 per share. Jefferies continues its coverage of the stock, upgrading its recommendation to "buy" from "hold" and raising the price target to EUR19.00 from EUR18.10, compared to a price of EUR13.50 on April 2. Analysts Tommaso Castello, Lucas Ferhani, Cole Hathorn, David Farrell, and Chloe Lemarie noted that the upgrade comes "as the stock enters a new growth phase".

The broker identifies a trajectory supported by backlog execution and improving operating profitability over the coming years, with significant contributions from the Defense and Underwater divisions.

Azimut Holding - down 0.7% - announced on Tuesday that it recorded total net inflows of EUR945 million in March, bringing total net inflows for the first quarter of 2026 to EUR4.6 billion. At the end of March, total assets under management stood at EUR143.8 billion.

UniCredit, meanwhile, slipped 0.4%. Notably, Commerzbank stated on Tuesday that it stands by "its existing business", rejecting takeover initiatives from UniCredit. The Milan-based bank already holds approximately 26% of the Frankfurt institution, plus an additional 4% through total return swaps. "Interactions with UniCredit, according to Commerzbank, have not demonstrated sufficient value-enhancement potential for its shareholders beyond the current stand-alone strategy," the German bank said Tuesday.

Ferrari - down 3.0% - announced on Tuesday that it repurchased 36,500 of its own ordinary shares between March 30 and April 2 on the Italian stock market, for a total value of nearly EUR10.5 million.

On the Mid-Cap segment, WIIT gained 3.2% to EUR27.65 per share, marking its fifth consecutive positive session.

NewPrinces - bullish with a gain of over 13% - announced on Tuesday the acceleration of its share buyback program, citing the stock's current valuation level and the group's solid financial position. As of March 31, the company held 1.1 million treasury shares, equal to 2.6% of the share capital, and may purchase additional shares up to a total maximum of 20% of the capital.

LU-VE - up 1.5% - reported on Tuesday that it achieved product sales of EUR151.0 million in the first quarter, a 13% increase from EUR133.5 million in the same period of 2025. The order backlog as of March 31 amounted to EUR300.9 million, an "all-time high", the company specified, up 43% from EUR214.0 million in March 2025.

Salvatore Ferragamo closed up 4.6% at EUR7.35 per share. Notably, Barclays raised its target price on the stock to EUR5.50 from EUR4.90 per share.

On the Small Cap index, I Grandi Viaggi showed strength, closing up 1.8% after a 2.2% loss in the previous session.

Gas Plus gained 2.8% to EUR7.26 per share, following a 1.7% gain on Friday evening.

BasicNet - up 0.6% - announced on Tuesday that it purchased 45,000 treasury shares between March 30 and April 2 at an average price of EUR6.515, for a total value of approximately EUR293,000.

Sabaf - down 1.4% - continues its buyback program. On Tuesday, it announced the purchase of 3,982 treasury shares between March 30 and April 1, for a total value of approximately EUR55,000.

Among SMEs, Energy closed with a jump of over 19% to EUR0.72 per share, its fourth consecutive bullish candle.

Predict - flat at EUR0.76 - announced on Thursday that it has decided to submit a proposal for a new share buyback plan for a maximum value of EUR700,000 to the Shareholders' Meeting.

Pattern - down 4.3% - announced on Thursday that it received notification from shareholder Camer Srl regarding a substantial change in its holding. Specifically, the company stated that Camer Srl reached the significant threshold of 5% of Pattern's share capital, holding 750,767 ordinary shares.

Cyberoo - up 9.8% - announced the signing of the first multi-year contracts for the sale of the Keatrix platform, marking the start of commercialization for the solution launched at the end of 2025. The contracts, signed with both new and existing clients, primarily involve medium-sized organizations across various sectors, including industrial, agrifood, pharmaceutical, and services.

In New York, the Dow closed down 0.2%, while the Nasdaq and S&P 500 both finished slightly higher.

In Asia, the Nikkei rose 5.5%, the Shanghai Composite advanced 2.3%, and the Hang Seng climbed 3.0%.

On the currency front, the euro is trading at USD1.1691 from USD1.1574 on Tuesday evening, while the pound is trading at USD1.3432 from USD1.3442 last night.

Among commodities, Brent is trading at USD93.92 per barrel from USD110.10 per barrel last night, while gold is worth USD4,854.20 per ounce from USD4,647.18 per ounce on Tuesday evening.

Wednesday's macroeconomic calendar includes the Italian construction PMI at 0930 CEST.

At 1300 CEST, the US mortgage report is due.

At 1900 CEST, a 10-year Treasury Note auction is scheduled in the US, followed by the FOMC minutes at 2000 CEST.

At 2035 CEST, Federal Reserve Governor Waller is scheduled to speak.

Among companies, results are expected from CleanBnB and Poligrafici Printing.

By Chiara Bruschi, Alliance News reporter

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