(Alliance News) - At the mid-session mark, European indices have stalled the gains recorded at the open and are moving into negative territory or towards a cautious stance. Markets and analysts expect the ECB to initiate its first rate hike since 2023 on Thursday with a 25 basis point increase.

On the domestic front, industrial production in Italy slowed in April, according to preliminary data released Wednesday by Istat, although it still posted an increase against expectations of a contraction. Italian industrial production rose by 0.5% month-on-month in April, beating FxStreet expectations of a 0.1% decline, following a 0.6% growth in March (revised down from a preliminary 0.7%).

The MIB is fractionally in the red at 50,260.07, the Mid-Cap is fractionally in the green at 61,976.74, the Small-Cap is up 0.1% at 35,539.15, and the Italia Growth is down 0.2% at 9,088.83.

The CAC 40 is down 0.2%, while the DAX 40 and the FTSE are both 0.5% lower.

In Piazza Affari, several positive signals emerged from a meeting organized by Equita with Katherine Tonks, Head of Investor Relations at Subsea 7. The authorization process for the merger with Saipem - up 0.1% - is reportedly proceeding according to plan, and the Brazilian antitrust authority Cade is expected to approve the transaction, with the process anticipated to conclude by mid-November.

UniCredit, up 1.0%, has strengthened its position in Commerzbank, bringing its potential stake to 54% of the capital, including both shares held and derivatives linked to the transaction. According to the latest data, acceptances of the offer have reached 10.9% of the capital. Combined with the 34.4% already held directly, the shareholding of the bank led by Andrea Orcel rises to 37.6%.

Also on the banking consolidation front, the exchange offer (OPAS) launched by Intesa Sanpaolo for Banca Monte dei Paschi di Siena has reportedly been welcomed by the Sienese bank's main private shareholders, Delfin and Francesco Gaetano Caltagirone.

The Del Vecchio family holding company, MPS's largest shareholder with 17.5%, is said to be viewing the operation positively due to the benefits it could generate for the value of the stake. In the event of full acceptance of the offer, Delfin would receive a stake of approximately 3.8% in Intesa Sanpaolo. MPS shares are trading up 0.1%, while Intesa Sanpaolo shares continue to face selling pressure, down 0.7%.

Stellantis, which announced the European launch of the next-generation Dodge Charger, 'one of the most iconic American muscle cars', is trading flat at EUR6.033 per share.

Telecom Italia, up 1.4%, announced yesterday after market close that S&P has raised the group's credit rating to BB+ from BB, with a stable outlook. The upgrade, as stated in a company note, 'reflects TIM's proven ability to meet its guidance and its further commitment to the deleveraging process, with S&P forecasting significant improvements in credit metrics over the 2026-2027 period'.

At mid-session, Nexi and Banco BPM are posting the best performances, up 1.7% at EUR3.395 per share and 3.2% at EUR13.995 per share, respectively. Prysmian is weighing on the index with a 2.5% decline to EUR138.90 per share.

On the Mid-Cap, WIIT, which is down 0.3%, has signed a financing agreement with ING Bank NV for a total amount of EUR40.0 million for European expansion. The contract includes a medium-to-long-term credit line of EUR20.0 million and a short-term credit line of EUR20.0 million, with a four-year duration maturing in 2030 and a possible 12-month extension.

Alerion Clean Power, down 1.8%, has commissioned a new photovoltaic plant in Romania, located in the municipality of Răcari, with an installed capacity of approximately 51 MWp and an estimated total annual gross production of about 77 GWh at full capacity. The plant, covering approximately 85 hectares, was built using single-axis tracker technology and bifacial photovoltaic modules.

Citi confirmed its 'neutral' recommendation on Salvatore Ferragamo, down 0.3%, and raised its target price to EUR9.85 from EUR7.50: the new strategic plan has helped revive the brand's momentum and lay the groundwork for a gradual recovery in profitability.

Cementir Holding, with gains of 5.1%, continues its momentum after signing a contract with the Danish Energy Agency to receive a carbon capture subsidy of approximately EUR117 per captured ton, up to 1.25 million tons annually starting from 2030.

Banco Desio e Brianza also performed well, up 3.3% at EUR10.28.

On the Small-Cap, Fidia - down 3.1% - closed 2025 returning to profit for the first time after difficult years, but directors and auditors continue to flag uncertainties regarding the group's business continuity. The machine tool company recorded revenues of EUR30.5 million, up 75%, and a net profit of EUR1 million compared to a loss of EUR9.5 million in 2024.

AbitareIn, up 4.3% at EUR2.91, has signed a contract for the sale to Techbau of the entire share capital of 14 special purpose vehicles related to as many residential initiatives in the municipalities of Milan and Florence, awaiting authorization for a total of approximately 164,000 commercial square meters.

A misstep for Zucchi, which fell 3.3% to EUR0.595 per share.

Among SMEs, Diadema Capital announced that the official delisting from Euronext Growth Milan will take effect today. With the start of the delisting, the majority shareholder Bridgeplanet Holding will execute its commitment to purchase the shares remaining in the hands of minority shareholders who did not approve the resolution.

Casta Diva Group, down 2.0%, has signed a framework agreement with the Bahraini company Faalyat to enter the Gulf market: projects will be evaluated on a case-by-case basis and implemented through synchronized co-branding or private-label models, leveraging Casta Diva's innovative digital languages and cutting-edge storytelling alongside Faalyat's structural operational control.

In New York on Tuesday, the Dow closed up 0.2% at 50,872.11, while the Nasdaq closed down 1.0% at 25,678.82 and the S&P 500 finished 0.3% lower at 7,386.65.

Among Asian markets, the Hang Seng shed 0.6% to 24,407.96, the Shanghai Composite lost 0.4% to 3,993.23, while the Nikkei closed 1.7% in the red at 64,330 points.

On the currency front, the euro is trading at USD1.1552 from USD1.1553 on Tuesday evening, while the pound is at USD1.3386 from USD1.3381 yesterday evening.

Among commodities, Brent is trading at USD91.14 per barrel from USD90.83 per barrel on Tuesday evening, while gold is valued at USD4,166.79 per ounce from USD4,268.60 per ounce at yesterday's close.

Wednesday's macroeconomic calendar includes the US mortgage market report at 1300 CEST. At 1430 CEST, the publication of the May consumer price index. At 1900 CEST, also from the US, the 10-year Treasury Note auction will be held.

By Michele Cirulli, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2026 Alliance News IS Italian Service Ltd. All rights reserved.