European Stock Markets Expected to Open in Positive Territory

(Alliance News) - On Friday, major European indices are expected to move into positive territory, according to IG futures, following a weak session the previous day.

Investors are focusing on key US employment data for updated indications on the state of the labor market, while also keeping an eye on a possible US Supreme Court ruling regarding the legitimacy of tariffs introduced by the Trump administration.

On the macroeconomic front, official data released Friday showed that producer price deflation in China eased in December, thanks to accelerating consumer price inflation.

According to China's National Bureau of Statistics, the producer price index fell by 1.9% year-on-year in December, compared to a 2.2% drop in November, missing the consensus forecast cited by FXStreet of a 2% decline.

"This level marked a 16-month high and the 39th consecutive month of PPI deflation," commented Lynn Song, ING's chief economist for Greater China.

The FTSE Mib is indicated up by 0.2% or 80.0 points after closing Thursday up 0.3% at 45,617.70.

In Europe, London's FTSE 100 is indicated up 0.2% or 18.5 points, Paris' CAC 40 is seen up 0.3% or 28.4 points, and Frankfurt's DAX 40 is forecast to rise 0.1% or 31.0 points.

In Milan, among the smaller indices last night, the Mid-Cap closed just above parity at 60,543.05, the Small-Cap slipped 0.1% to 37,594.82, while Italy Growth retreated 0.2% to 8,827.00.

London's FTSE 100 finished just below parity, Paris' CAC 40 closed up 0.1%, while Frankfurt's DAX 40 ended just above parity.

Back in Milan, Campari advanced 3.6%, remaining among the top performers after a 2.0% loss in the previous session. The company – with a free float just over 30% – has an average target price of EUR6.87, based on the consensus of 20 analysts, suggesting it remains undervalued.

Leonardo saw a bullish push, rising 2.0% to EUR58.52 per share. The stock is up more than 14% over the past five sessions and has gained 19% since the start of the year.

Italgas also showed strength, rising 1.6% to EUR10.54 per share. According to MarketScreener, the stock has an average target price of EUR9.60 based on 13 analysts.

Azimut Holding – up 0.7% – announced Thursday that it recorded total net inflows of EUR14.1 billion in December, including the acquisitions of North Square Investments in the US and Knox Capital in Brazil. This brings total net inflows for the year to EUR32.1 billion, an increase of 1.8 times compared to 2024 and 4.7 times compared to 2023, surpassing the annual target range of EUR28 billion to EUR31 billion and marking the best annual performance in the group's history.

Enel – fractionally in the green – announced the successful placement of new perpetual, non-convertible hybrid subordinated bonds totaling EUR2 billion, intended for institutional investors in the European market. The operation saw demand more than seven times the offer, with orders peaking at around EUR14 billion, confirming strong market reception.

Prysmian fell 4.3% after gaining 0.7% on Wednesday evening. According to MarketScreener valuations, the stock has an estimated P/E ratio of over 21x for 2025.

Amplifon closed down 4.5% at EUR13.36 per share, after a 1.6% gain in the previous session.

In the mid-cap segment, d'Amico topped the list, advancing 6.1% to EUR5.49 per share. The company – with a market capitalization of about EUR720 million – has gained over 10% in the past five sessions.

WIIT advanced 5.2% to EUR21.45 per share, after two sessions closed with bearish candles.

Danieli & C posted a bullish candle of 2.3%, marking its fourth consecutive positive session.

Salvatore Ferragamo suffered losses, falling 5.3% to EUR7.98, following a 2.7% loss the previous day.

Among others, Technoprobe also posted a negative note, down 3.3%, subject to profit taking after two bullish sessions.

On the Small-Cap side, Italian Sea Group stood out among gainers, rising 8.2% to EUR4.44 per share, its third consecutive positive session.

SYS-Dat – in its fourth session with a bullish candle – saw its price rise 1.3% to EUR6.50.

Altea Green Power posted a 3.2% gain to EUR7.27 per share. Alantra confirmed its 'buy' recommendation on Altea Green Power with a target price of EUR10.60, following an operational update deemed clearly positive by the broker.

Analysts also note that, at current levels, the stock trades at about 3.1 times estimated 2026 EV/Ebitda, a valuation considered extremely compressed and not reflective of the value of the company's BESS pipeline of about 2 GW in advanced development. In light of these factors, the 'buy' recommendation is reiterated.

Softlab advanced 2.9%, rebounding after two consecutive negative sessions.

Aeffe, lagging behind, closed down 4.5% at around EUR0.3380, marking its third consecutive bearish session.

Among SMEs, Estrima gained 6.3% to EUR0.1360 per share, after a 6.6% loss in the previous session.

Dedem advanced over 10% to EUR4.78 per share, after two flat sessions.

Cyberoo rose 2.0% to EUR1.51 per share, after a 2.3% drop on Wednesday evening. The company – with a free float of 37% and a market capitalization of just under EUR61 million – is estimated by two analysts to have an average target price of EUR2.95, nearly double its current market price.

At the bottom, Farmacosmo fell over 13% to EUR0.59 per share, subject to profit taking after a bullish streak.

In New York on Thursday, the Dow Jones gained 0.6%, the Nasdaq fell 0.4%, while the S&P 500 advanced 0.1%.

In Asia, the Nikkei closed up 1.6%, the Shanghai Composite is up 0.9%, and the Hang Seng gained 0.3%.

On the currency front, the euro is trading at USD1.1646 from USD1.1656 at Thursday's close in European equity markets, while the pound is trading at USD1.3420 from USD1.3431 last night.

Among commodities, Brent is trading at USD62.72 per barrel from USD61.14 per barrel at Thursday's European equity close, while gold is worth USD4,472.05 an ounce from USD4,454.95 an ounce last night.

On Friday's economic calendar, Italy's retail sales data is due at 1000 CET, while Eurozone data will be available at 1100 CET.

At 1345 CET, the ECB's Lane will deliver a speech.

From the US, at 1430 CET, unemployment rate data will be published, while at 2130 CET, as usual on Fridays, the COT Report will be released.

On the corporate calendar for Piazza Affari, results from OPS Italia are expected.

By Antonio Di Giorgio, Alliance News reporter

Comments and questions to [e-mail]

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