European markets in the red; Moncler at the bottom of the MIB

(Alliance News) - Major European bourses continue to trade in negative territory on Thursday. On one hand, geopolitical risks show no signs of abating despite the "fragile truce" brokered between Iran, Israel, and the US; on the other, Trump's threats to NATO regarding a lack of intervention against Tehran raise the specter of a deeper crisis.

Prime Minister Giorgia Meloni stated that the EU should consider the possibility of temporarily suspending its strict spending rules should the conflict with Iran and the resulting energy shock worsen.

This comes as industrial production for February fell in both Spain and Germany.

Consequently, the MIB continues its decline, down 0.2% at 46,978.54 points, the Mid-Cap is down 0.6% at 56,414.22, the Small-Cap is down 0.5% at 33,792.03, while Italy Growth moves into positive territory, up 0.2% at 8,552.51 points.

Other European markets are also in the red: the CAC 40 is down 0.8%, the DAX 40 by 1.2%, and London's FTSE 100 by 0.1%.

At Piazza Affari, the battle for the new governance of Leonardo is being played out on multiple fronts, with the stock down 1.2% at EUR56.95 per share. Appointments remain the primary focus. According to rumors, Giovanbattista Fazzolari has reportedly sounded out the availability of Lorenzo Mariani, CEO of MBDA.

The other name on the table is said to be Gian Piero Cutillo, managing director of Leonardo's helicopter division, who is considered close to Economy Minister Giancarlo Giorgetti and Defense Minister Guido Crosetto.

The merger between Saipem and Subsea7, which will create the giant Saipem7 with revenues of EUR21 billion, appears to be moving swiftly toward approval. According to a Barclays report, concerns from the Brazilian antitrust authority are expected to be less stringent than anticipated. Saipem shares are up 2.3%.

Hera - up 0.5% - is doubling its geothermal plant in Ferrara with an investment of EUR50 million. The project, supported by the PNRR, aims to increase thermal power to 32 MW by August 2026.

The crisis at the Stellantis plant in Cassino is alarming the Lazio Region, which has urgently responded to the appeal of trade unions. They are watching with concern as the supply chain nears collapse, with 45 layoffs already initiated in logistics. Stellantis is trading down 1.5%.

Italgas - up 1.9% - has signed a new EUR900 million sustainability-linked revolving credit facility with a pool of Italian and international banks, with a maximum duration of five years. Furthermore, the company announced on Thursday the launch of a new six-year fixed-rate bond issue.

Eni, the most traded stock by value with volumes of EUR102.1 million, is moving in positive territory by 1.2%, while Amplifon, among the worst performers at the open, is seeing selling pressure of 2.1%.

Utilities take the lead with A2A up 0.9% and Terna up 1.4%. Moncler sits at the bottom of the basket with a 2.5% decline.

On the Mid-Cap, Webuild - down 1.2% - announced that Lane, its US subsidiary, has been awarded the USD582 million "Moving I-4 Forward - Project 2" contract for the design and construction of a key section of the broader Interstate-4 modernization program, helping to boost connectivity in Florida.

Data from Goldenpoint confirms the effectiveness of OVS - down 0.8% - in the fashion sector, the core business of Stefano Beraldo's group, which includes Piombo, Stefanel, and Les Copains. Meanwhile, the Kasanova deal has been shelved.

Tinexta - with gains of 0.1% - announced that its board of directors has initiated the preliminary activities for the merger by incorporation of the company into Zinc BidCo, a move aimed at delisting.

Comer Industries continues its strong performance, up 6.3% at EUR43.90 per share. NewPrinces slides to the bottom of the list, down 4.1% at EUR17.20 per share.

On the Small-Cap, OPS eCom - which is surging 30% - announced that its board of directors has modified the company's management structure, a move aimed at the relaunch of OPS eCom and fostering a strategic repositioning.

Specifically, the board appointed Chairman Cosimo Saracino as the new CEO, replacing Ciro Di Meglio, who stepped down from the role while remaining a non-executive director.

The Italian Sea Group continues to trade in the red, down 2.8% at EUR12.25 per share, while Bastogi gains 2.4% to EUR1.30 per share.

Among SMEs, eVISO - in the green by 0.5% - announced the establishment of EVISO LUZ Y GAS SA in Spain, based in Galicia with a share capital of EUR60,000, marking the operational start of its expansion into the Iberian market.

Cyberoo, down 0.5%, has signed a strategic agreement with V-Valley, a company of the Esprinet Spa group and a leader in Italy and Spain in the distribution of advanced solutions, aimed at strengthening the presence of Cyberoo solutions in the Italian market and accelerating their distribution through the channel.

Franchetti, which saw no trades, announced on Thursday the strengthening of its positioning in Brazil through the signing for the acquisition of a majority stake in the ECR group, which, according to a note, "is consistent with the development path already initiated by the group in the country."

High Quality Food - down 3.6% - announced on Wednesday the appointment of Lorenzo Uleri as Commercial Director, effective April 1.

The board of Poligrafici Printing, flat at EUR0.474, approved its accounts, highlighting a consolidated net profit of EUR913,000, up from EUR791,000 in the previous year. The board of directors proposed a dividend distribution of EUR0.016 per share, compared to EUR0.0075 last year.

In New York last night, the Dow advanced 2.9% to 47,909.92 points, the Nasdaq rose 2.9% to 24,903.17, while the S&P 500 stepped forward by 2.5% to 6,782.81.

On the currency front, the euro is changing hands at USD1.1675 from USD1.1690 on Wednesday evening, while the pound trades at USD1.3404 from USD1.3439 last night.

Among commodities, Brent is trading at USD97.99 per barrel from USD94.94 per barrel last night, while gold is worth USD4,730.10 per ounce from USD4,755.50 per ounce on Wednesday evening.

On Thursday's macroeconomic calendar, at 1430 CEST, initial jobless claims and the PCE index are due from the US, while at 2230 CEST, the Federal Reserve's balance sheet will be published.

By Michele Cirulli, Alliance News reporter

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