(Alliance News) - Major European stock exchanges are expected to open higher on Thursday, including London, where Health Secretary Wes Streeting is expected to announce his resignation today, poised to launch a leadership challenge against Keir Starmer.
Reports emerged this morning that Angela Rayner is also ready to stand as a replacement, having cleared up the issue of unpaid taxes on a flat purchase - a scandal that had previously led to her resignation from the government, where she served as Deputy Prime Minister.
On the geopolitical front, uncertainty remains regarding the end of the conflict in Iran, with Brent crude trading at USD106. Meanwhile, US President Donald Trump has arrived in China, where leader Xi Jinping stated that 'China's doors to the outside world will open wider and wider' and that 'American companies will enjoy even brighter prospects.'
In Milan, investors are awaiting a heavy slate of quarterly results.
According to IG futures, the MIB is called to open up 232.5 points or 0.5% after closing 1.0% higher at 49,480.70.
London's FTSE 100 is expected to rise 50.6 points or 0.5%, Paris's CAC 40 is seen opening up 55.4 points or 0.7%, while Frankfurt's DAX 40 is trading in the green by 0.6%, up 137.5 points.
On the macro front, the UK recorded monthly GDP growth of 0.3% in March, exceeding expectations of 0.2% but slowing from 0.4% in February. On an annual basis, GDP increased by 1.2%, marking the strongest growth since July last year and beating forecasts of 0.7%.
Among Milan's secondary indices, the Mid-Cap advanced 0.5% to 59,548.79 yesterday evening, the Small-Cap gained 0.1% to 34,386.62, while Italy Growth closed down 0.2% at 8,897.02.
On the MIB, STMicroelectronics showed strength, rising 9.9% to EUR52.35 per share, following a 5.3% decline the previous day.
Hera - up 0.3% - announced on Wednesday that it closed the first quarter with revenues of EUR3.52 billion, down from EUR4.32 billion as of March 31, 2025. Net profit for the period was EUR165.1 million, compared to EUR163.8 million the previous year.
Snam - down 1.0% - reported on Wednesday that it recorded a net profit of EUR292 million in the first quarter of 2026, a 41% decrease compared to EUR491 million in the same period of 2025. Adjusted net profit also fell by 7.6% to EUR375 million from EUR406 million in the first three months of the previous year.
Lottomatica Group - in the red by 1.8% - announced on Wednesday that between May 7 and 8, it purchased 90,000 of its own ordinary shares at an average price of EUR27.5959 each, for a total value of EUR2.5 million.
On the Mid-Cap, Fiera Milano ended the session up 8.6% after two bearish sessions. The company announced on Wednesday that it closed the first quarter with a net profit of EUR27.7 million, an improvement from a net loss of EUR3.2 million as of March 31, 2025. Quarterly revenues reached EUR126.4 million, up 98% from EUR63.7 million in the first quarter of last year.
The board of Rai Way - down 0.5% - approved the results for the first quarter of 2026 on Wednesday, closing with a net profit of EUR21.6 million, down 4.3% compared to the same period in 2025. During the period, the company recorded core revenues of EUR71.9 million, up 2.6% year-on-year.
The board of Arnoldo Mondadori Editore - bearish at 0.5% - approved first-quarter accounts, which closed with a net loss of EUR16.3 million, widening from a loss of EUR13 million in the same period of 2025. Consolidated revenues stood at EUR170.9 million, up 3.9% compared to EUR164.4 million in Q1 2025.
RCS MediaGroup - down 0.7% - announced on Wednesday that it closed the quarter by narrowing its loss to EUR400,000 from EUR600,000 in the first quarter of 2025. Revenues reached EUR170.3 million, up 0.4% from the EUR169.6 million recorded between January and March of the previous year. Digital revenues, totaling EUR47.8 million, represent approximately 28% of total turnover.
On the Small-Cap, Tesmec saw its price rise by 6.5% to EUR0.18 per share, marking its third consecutive bullish session.
Immsi - down 0.2% - announced on Wednesday that it closed the first quarter with consolidated revenues at current exchange rates of EUR369.1 million, down from EUR385.2 million as of March 31, 2025. Net profit before minorities was EUR100,000 in the first quarter, compared to EUR1.4 million in Q1 2025.
The board of B&C Speakers - in the red by 2.8% - approved the Q1 2026 accounts on Wednesday, closing with a group net profit of EUR3.5 million, a slight decrease from EUR3.7 million in the same period of 2025, amid lower volumes but with profitability largely maintained.
Caleffi - flat at EUR0.76 - announced on Wednesday that it closed the first quarter with turnover of EUR13.3 million, down from EUR13.9 million as of March 31, 2025. The company also approved the launch of a new buyback program.
Among SMEs, IDNTT closed up 9.5%, following a 2.1% gain in the previous session.
DBA Group gained 6.4% to EUR4.14 per share, marking its second positive session.
ATON Green Storage shed 5.2%, its eighth consecutive session with a bearish candle.
EdiliziAcrobatica fell 1.7%, following a 5.1% loss the day before.
In Asian markets, the Nikkei fell 0.6%, the Hang Seng rose 0.3%, and the Shanghai Composite was down 0.8%.
In New York, the Dow Jones gained 0.2%, the Nasdaq rose 0.1%, while the S&P 500 finished 0.2% higher.
On the currency front, the euro is trading at USD1.1711 from USD1.1714 on Wednesday evening, while the pound is trading at USD1.3523 from USD1.3526 yesterday.
Among commodities, Brent is trading at USD106.23 per barrel from USD106.80 on Wednesday evening, while gold is valued at USD4,690.43 per ounce from USD4,698.53 at yesterday's close.
On Thursday afternoon's economic calendar, the US retail sales report and jobless claims data are expected at 1430 CEST. In the evening, at 2230 CEST, the Federal Reserve's weekly balance sheet will be released, as it is every Thursday.
Among companies - amid numerous results arriving - quarterly reports are due from Acea, Cairo Communication, FILA, Salvatore Ferragamo, ERG, and Webuild.
By Chiara Bruschi, Alliance News reporter
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