European markets rebound; STM and Stellantis lead gains

(Alliance News) - Major European indices opened in positive territory on Friday as investors monitor signs of easing tensions between Tehran and Washington following the latest American proposal.

On the macroeconomic front, the German economy recorded 0.3% growth in the first quarter of 2026, confirming preliminary estimates and showing an acceleration from the 0.2% expansion in the previous quarter.

Consequently, the FTSE MIB rose 0.5% to 49,426.69 points, the Mid Cap advanced 0.6% to 61,086.90 points, the Small Cap gained 0.6% to 34,647.12 points, while the Italy Growth index was up 0.3% at 8,864.20 points.

London's FTSE 100 is up 0.4%, as is the CAC 40 in Paris, while the DAX 40 in Frankfurt rose 0.6%.

Returning to Milan, on the blue-chip index of Piazza Affari, STMicroelectronics climbed to the top at the open with a .4% rise, with over 640,000 shares already traded.

Stellantis also saw strong buying interest, up 3.1% with nearly 8 million shares changing hands, a day after presenting its EUR60 billion 'FaSTLAne 2030' strategic plan, aimed at accelerating growth and profitability through new vehicle launches and technological investments.

Among banking stocks, UniCredit gained 1.2% to EUR71.53. The German government, the second-largest shareholder in Commerzbank with a stake of approximately 12.7% after the Piazza Gae Aulenti-based institution, reportedly has no intention of using 'golden power' to block the takeover attempt of the German bank by the group led by Andrea Orcel.

According to sources close to the matter, as reported Friday by Il Sole 24 Ore, Chancellor Friedrich Merz's executive is not even considering an increase in the state's stake in Commerzbank.

The consortium of funds led by CVC Fund IX and Groupe Bruxelles Lambert is launching a takeover bid for Recordati - up 0.3% - through the newly formed company Respighi BidCo. The total amount offered per share is EUR51.29 - which becomes EUR52 cum dividend - for a total of EUR10.7 billion. The bid is aimed at delisting the company from Euronext Milan.

Selling pressure hit Generali, which retreated 0.3% to EUR38.45 per share. Oddo BHF upgraded the stock to 'neutral' from 'underperform', raising the target price to EUR40.00 from EUR37.00.

Saipem was among the laggards with a 1.2% decline. In Brazil, the front opposing the merger between Saipem and Subsea7 is divided, with differing positions emerging in briefs submitted to Cade, the Brazilian antitrust authority, MF-Milano Finanza wrote Friday.

The Associação Brasileira de Empresas de Exploração e Produção de Petróleo e Gás remains strongly opposed to the deal, while ExxonMobil has shown a more open attitude compared to its initial resistance. The association believes the new 'Saipem7' entity could reach market shares between 40-50% and 70-80%, strengthening its dominant position and reducing the bargaining power of operators.

Among other decliners, Amplifon shed 1.3%. The company announced Friday that it successfully completed a placement reserved for qualified investors via accelerated bookbuilding, with demand exceeding the offer several times over.

The company placed 45.3 million new ordinary shares, equal to approximately 20% of the pre-increase capital, for a total gross value of EUR453 million.

On the Mid-Cap index, Alerion Clean Power opened 10% lower after announcing Thursday that it had approved a capital increase excluding option rights for up to 10% of the share capital, for a maximum value of EUR135.6 million through the issuance of up to 5.4 million new ordinary shares at a subscription price of EUR25 per share.

On the other side of the list, Brembo saw strong buying, advancing 6.8% after announcing Friday a joint venture with Ningbo Huaxiang Electronic Co., 'a key player in the automotive components industry in China', according to the press release.

The two companies will collaborate on the localization of Sensify in China, jointly contributing to the evolution of intelligent braking technology in the automotive sector.

Webuild - up 0.3% - announced Thursday that the client NEOM exercised its right to withdraw from the contract related to the Connector High-Speed Line project for the construction of a high-speed railway line along the northern Red Sea coast in Sharma, Saudi Arabia.

The withdrawal will take effect from May 27, when the progress of the works will be approximately 20%, with a remaining project backlog for Webuild of approximately EUR1 billion. No revenue was expected for the current year from this project, which had already been suspended.

Ferretti is trading up 0.9% at EUR3.066. JPMorgan cut its recommendation on Ferretti to 'neutral' from 'overweight' and reduced the target price to EUR3.40 from EUR4.75, following the recent first-quarter update and the change in the group's leadership.

On the Small-Cap index, Immsi gained 2.9% after announcing Friday that its subsidiary Intermarine Spa was awarded the European tender issued by the General Command of the Guardia di Finanza for the supply of coastal patrol vessels, with a total potential order value of EUR288 million.

The contract initially provides for the construction of two naval units worth EUR28.2 million, intended to strengthen the maritime policing and law enforcement activities of the Guardia di Finanza. The agreement also includes an option for an additional 15 units and related logistical support, for an additional value of EUR260 million.

Softlab performed well - up 4.0% - after announcing Thursday that it closed 2025 with a profit of EUR359,000, compared to a loss of EUR19,000 the previous year.

Buying returned to PLC, which gained 1.0% at the open. Lizard Renewables signed an agreement with Fraes to purchase the entire controlling stake held by the latter in PLC, consisting of 19.1 million shares for a stake of approximately 74% of the share capital.

The price for each ordinary share to be paid by the buyer to Fraes upon completion of the closing is EUR3.08 per share, corresponding to an aggregate value of EUR58.8 million.

Among SMEs, Officina Stellare is the most traded stock by value and is up 2.7%.

Integrated System Credit Consulting Fintech - up 3.7% - announced Thursday the completion of a securitization transaction involving non-performing loan portfolios.

Laboratorio Farmaceutico Erfo - not yet traded - announced Thursday that it closed the first quarter with revenue of EUR2.4 million, substantially stable year-on-year.

Rocket Sharing Co shares are suspended. The company announced Thursday the sale of 51% of Stantup Service to Mexedia for a total value of EUR16.5 million, a transaction that will allow the company to strengthen its capital structure and finance new acquisitions in fintech.

According to management, the sale allows for the monetization of the investment made in 2022 under particularly favorable conditions. Rocket estimates a gross capital gain of approximately EUR14.6 million and a return on investment equal to 8.6 times the capital employed.

In New York on Thursday evening, the Dow gained 0.6%, the Nasdaq advanced 0.1%, while the S&P 500 rose 0.2%.

In Asia, the Nikkei is up 2.7%, the Hang Seng rose 1.1%, while the Shanghai Composite is up 0.9%.

On the currency front, the euro is trading at USD1.1607 from USD1.1587 on Thursday evening, while the pound is trading at USD1.3424 from USD1.3405 yesterday evening.

Among commodities, Brent is trading at USD105.07 per barrel from USD107.97 on Thursday evening, while gold is worth USD4,523.28 per ounce from USD4,504.80 at yesterday's close.

Friday's economic calendar includes the publication of the German Ifo index at 1000 CEST.

At 1600 CEST, a speech by the Federal Reserve's Waller is scheduled. At 2130 CEST, as every Friday, the COT Report will be released.

Among companies, results are expected from DHH, Farmacosmo, Trevi Finanziaria Industriale, and Portobello.

By Antonio Di Giorgio, Alliance News reporter

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