European markets rise following China-US summit; Stellantis gains

(Friday's corporate calendar includes a higher number of results than previously reported)

(Alliance News) - Major European indices closed in positive territory on Thursday, following a meeting between China and the US described as 'positive' by the White House.

In the Middle East, Iran has authorized the transit of Chinese vessels through the Strait of Hormuz starting Wednesday.

Consequently, the MIB pushed toward an all-time high, rising 1.2% to 50,050.27, the Mid-Cap climbed 1.6% to 60,510.37, the Small-Cap gained 1.6% to 34,949.51, and the Italy Growth edged up 0.1% to 8,908.92 points.

Other European markets also advanced: the CAC 40 by 0.9%, the DAX 40 by 1.3%, and the FTSE 100 by 0.5%.

On Piazza Affari, Fincantieri - down 1.6% - appointed its new board of statutory auditors for the 2026-2028 three-year period. Gabriella Chersicla was named chairwoman, while Elena Cussigh and Antonello Lillo were elected as standing auditors. Ottavio De Marco and Arianna Pennacchio serve as alternate auditors.

Jefferies analysts reaffirmed their conviction on Fincantieri following the financial results presented earlier this week, emphasizing that solid operational performance and improved 2026 guidance remain undervalued by the market. Investor attention is now focused on short-term catalysts for the group led by CEO Pierroberto Folgiero, including potential M&A transactions in the underwater segment and new defense orders, which would improve the stock's perception.

Furthermore, growing margins in the cruise division and a record total backlog of EUR74 billion reinforce Jefferies' positive long-term view on Fincantieri. The upward revision of the 2026 guidance now sees expected revenues of up to 9.4 billion, EBITDA between EUR700-710 million, and net profit between EUR140-180 million. Jefferies analysts also highlighted Fincantieri's progress in the defense business in the US and Europe.

A2A - which gained 1.0% - closed the quarter with an adjusted net profit of EUR221 million, down 11% from EUR249 million in the same period of 2025. Additionally, the board approved a new framework resolution for the issuance, by April 30, 2029, of one or more non-subordinated, unsecured, and non-convertible bond loans for a maximum total amount of EUR2.9 billion.

Stellantis, which finished 3.5% higher, is reportedly in talks with Huawei and Jac Motors to develop new Maserati electric models, focusing on advanced software and shared production.

Piece by piece, the Milan prosecutor's office is reconstructing the corporate maneuvering that led to the takeover of Mediobanca, which rose 0.4% by the close. At the request of prosecutors, the Guardia di Finanza searched Andrea Nattino, chairman of Finnat Fiduciaria, considered by investigators to be the primary vehicle through which Francesco Gaetano Caltagirone allegedly operated in the market.

The investigation focuses primarily on the purchase of MPS shares - which fell 0.2% - on November 13, 2024, as part of the Treasury's stake disposal, which investigators deem an opaque procedure fraught with anomalies.

Regarding the banking consolidation and the possible MPS-Mediobanca integration, Francesco Caltagirone expressed opposition to a model that shifts resources from the real economy to finance: 'The social function of banks is being reduced.' He defended Mediobanca's historical role, hoping that the human capital built over the years will not be lost.

Caltagirone also believes Mediobanca should maintain its stake in Assicurazioni Generali, which saw daily gains of 0.8%: 'If all the big banks want Generali, I don't understand why those who have it should sell it.'

Following contract cancellations sent by Telecom Italia and Fastweb+Vodafone, Inwit - up 1.3% at the bell - is open to dialogue with its main clients, while reiterating the need to defend agreements considered essential for the sustainability of the tower company model. TIM shares closed up 1.5%.

STM took the lead, rising 5.4% to EUR55.18 per share.

On the Mid-Cap, Carel Industries - up 6.3% - closed the first quarter of 2026 with a consolidated net profit of EUR18.4 million, an 82% increase compared to EUR10.1 million in the same period of 2025.

ENAV - up 1.1% - renewed its board with Sandro Pappalardo, Stella Mele, Igor De Biasio, Antonella Ballone, Stefano Arcifa and Maria Cristina Vismara, Enzo Peruffo, Maria Letizia Ermetes, and Marco Rigotti.

Tinexta, with a daily increase of 0.1%, closed the first quarter of 2026 with a net loss from continuing operations of EUR4.9 million compared to a profit of EUR3.6 million in the same period of 2025.

Cembre - the day's top performer with an 11% gain - closed the first quarter with a net profit of EUR14.0 million, up 18% from EUR11.9 million in the corresponding period of 2025, with margins rising to 20.5% from 19.8%.

Acea, which fell 2.0%, closed the first quarter of 2026 with growth in investments and net profit, supported by a focus on regulated businesses and the continuation of its asset portfolio rationalization strategy.

NewPrinces - up 4.1% - closed the first quarter of 2026 with a consolidated net loss of EUR22.6 million, an improvement over the EUR34.8 million loss in the first quarter of 2025, on a like-for-like consolidation basis.

On the Small-Cap, Datalogic - down 13% at the close - ended the quarter with a net loss of EUR5.7 million, a slight improvement from EUR5.9 million in the same period of 2025. During the period, revenues reached EUR120.3 million, up 6.7% at current exchange rates and 11% at constant exchange rates compared to the first quarter of 2025.

FILA - up 1.3% - closed the first quarter of 2026 with a group net profit of EUR2.1 million, improving from a loss of EUR530,000 in the same period of 2025.

Esprinet, leading the list with a 21% gain - announced that V-Valley, a group company, signed a partnership with Meferi, a leading Asian manufacturer in the AIDC (Automatic Identification and Data Capture) sector.

TXT e-solutions closed the first quarter with a profit of EUR5.7 million, up from EUR5.5 million in the first quarter of 2025. Revenues amounted to EUR109.2 million from EUR92.2 million in the same period of 2025. The stock saw buying interest of 12%.

Cairo Communication, with an increase of 0.8%, recorded a quarterly loss of EUR2.8 million, up from EUR2.1 million recorded in the first quarter of 2025.

Centrale Del Latte D'Italia, up 0.2%, closed the first quarter with a net profit of EUR1.7 million, down 23% from EUR2.2 million in the first quarter of 2025. Pre-tax profit fell to EUR2.3 million from EUR3.1 million.

Gefran, which recorded a 1.4% contraction, closed the first quarter with a net profit of EUR3.7 million, down from EUR4.1 million as of March 31, 2025. Quarterly revenues were EUR36.3 million, in line with EUR36.4 million in the same period last year.

Among SMEs, Impianti, up 4.8%, was awarded a contract by the Ministry of the Interior for the supply of solutions dedicated to technological upgrades and audio-video setups for State Police operations and control rooms, valued at over EUR270,000.

Alfonsino - flat at EUR0.1710 - closed the first quarter of 2026 with revenues of EUR800,000, up 9% from EUR700,000 in the first quarter of 2025.

High Quality Food, with a daily decline of 0.4%, closed 2025 with a consolidated profit of EUR158,000 compared to EUR124,000 in 2024. Pre-tax profit rose to EUR289,000 from EUR242,000, while the group's share of profit stood at EUR145,000 from EUR152,000.

In New York, the Dow Jones gained 0.8%, the Nasdaq 1.0%, and the S&P 500 0.9%.

On the currency front, the euro changed hands at USD1.1675 from USD1.1714 on Wednesday evening, while the pound traded at USD1.3480 from USD1.3526 yesterday.

Among commodities, Brent traded at USD105.03 per barrel from USD106.80 per barrel on Wednesday evening, while gold was valued at USD4,686.15 per ounce from USD4,698.53 per ounce at yesterday's close.

On Friday's economic calendar, Germany's wholesale price index is due at 0800 CEST, followed by Italy's consumer price index at 1000 CEST. At 1200 CEST, Spanish consumer confidence will be released.

Focus shifts to the US starting at 1515 CEST with industrial production data.

On Piazza Affari, quarterly reports are expected from several companies, including Interpump Group and ERG.

By Michele Cirulli, Alliance News reporter

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