MIB bearish at 49,200; strong sell on Campari

(Alliance News) - The FTSE MIB closed moderately lower at 49,200 on Thursday, after hitting new intraday highs at the open, amid profit-taking fueled by a mixed earnings season and lingering geopolitical caution.

The market continues to monitor developments regarding the US-Iran dossier. Statements from President Trump, who ruled out an imminent deal with Tehran and hinted at the possibility of new military action in the absence of an agreement, kept risk aversion elevated throughout the session.

On the monetary front, traders revised downward their expectations for future European Central Bank rate hikes, now pricing in approximately 50 total basis points by year-end. However, the probability of an initial move as early as June remains high, given the persistent inflationary pressures recently highlighted by ECB board member Piero Cipollone.

In this context, the MIB, as anticipated, closed down 0.8% at 49,291.01, the Mid-Cap finished 0.2% lower at 59,722.25, the Small-Cap gained 0.3% to 35,448.75, and Italy Growth closed down 0.1% at 8,907.65.

The CAC 40 shed 1.2%, the DAX 40 lost 1.0%, while the FTSE 100 dropped 1.6%.

On the MIB in Piazza Affari, Campari ended the session down more than 14%, following two bullish sessions. Campari NV announced on Wednesday that it closed the first quarter with sales of EUR643 million, down 3.4% from EUR666 million as of March 31, 2025.

Prysmian slipped 0.1%. UBS confirmed its 'buy' recommendation on Prysmian, raising the target price to EUR175 from EUR135, following a London roadshow that reinforced analysts' conviction in the ongoing earnings upgrade cycle. Analysts Christopher Leonard, Andre Kukhnin, and Dini Magoon consider Prysmian 'one of the most attractive plays linked to electrification and data centers' in the European industrial sector.

Leonardo - in the red by 1.9% - announced on Thursday the appointment of its new board of directors, the selection of a new chairman, and the authorization of a buyback plan. Specifically, the company stated that the new board members are: Francesco Macrì - appointed chairman -, Lorenzo Mariani, Trifone Altieri, Roberto Diacetti, Enrica Giorgetti, Elena Grifoni, Dominique Levy, Cristina Manara, Francesco Soro, Maurizio Tucci, Elena Vasco, and Rosalba Veltri.

The buyback involves 2 million Leonardo ordinary shares and will be launched to service the company's incentive plan. To date, the company holds 1.2 million treasury shares, representing 0.2% of its share capital.

Azimut Holding - down 4.3% - reported on Thursday that it closed the quarter with net profit up 15% to EUR125.3 million from EUR115.2 million recorded in the first quarter of 2025. Revenue reached EUR370.6 million, up from EUR321 million recorded from January to March of the previous year, supported by a 14% increase in recurring revenue across all key markets, with particularly solid contributions from Italy, the US, the UAE, and Brazil.

A2A - down 1.6% - announced on Thursday that, in collaboration with IG Group, it was awarded two European public tenders issued by Aeroporti di Roma for the design, construction, and management of two new photovoltaic plants of 7.3 MW and 6.0 MW respectively at Rome Fiumicino airport. As the company explained in a note, the operation represents a further step forward by ADR in the decarbonization path of 'Leonardo da Vinci', which has been named Europe's best airport for nine consecutive years.

On the Mid-Cap, Brembo - up nearly 11% - announced on Thursday that it closed the first quarter of 2026 with a net profit of EUR56.9 million, an 11% increase compared to EUR51.1 million in the same period of 2025, with the margin on revenue rising to 6.1% from 5.3%. During the quarter, revenue fell 2.1% to EUR937.4 million from EUR957.0 million, though it recorded 1.9% growth at constant exchange rates.

Salvatore Ferragamo advanced 7.4%, marking its third consecutive bullish session with a final price of EUR8.48 per share.

Ascopiave - in the red by 4.9% - reported on Thursday that it closed the first quarter with a profit of EUR7.5 million, down from EUR9.3 million in the same period the previous year. Revenue amounted to EUR70.8 million compared to EUR54.8 million in the first quarter of 2025.

The board of Banca Ifis - down 0.9% - announced on Thursday that it closed the first quarter of 2026 with a consolidated net profit of EUR31.3 million compared to EUR47.7 million in the same period last year. The intermediation margin stood at EUR216.4 million from EUR178 million last year. Net interest income was EUR127.4 million compared to EUR130.8 million in the first quarter of 2025.

On the Small-Cap, Industrie De Nora gained 6.8%, marking its third bullish session.

Softlab finished up 5.9% at EUR1.17 per share, following a flat session the previous day.

SIT - down 0.4% - closed the first quarter with a net profit of EUR560,000 compared to a loss of EUR2.9 million in the same period of 2025. The adjusted net result was positive at EUR827,000 compared to a loss of EUR1.5 million recorded a year earlier.

The board of IGD - up 0.4% - announced on Thursday that it closed the first quarter of 2026 with a net profit of EUR5.7 million, an increase of EUR4.1 million compared to the same period last year. The board also confirmed its full-year guidance, which forecasts a recurring net profit of at least EUR45 million by the end of 2026.

Among SMEs, Deodato.Gallery advanced 5.1%, following two sessions that ended with bearish candles.

Omer - in the green by 3.5% - announced on Thursday that it has commenced operational activities for a new order from a leading European player in the sanitary systems sector. Specifically, the contract involves the supply of toilet modules for high-speed trains and includes the provision of toilet module cabins for 108 sanitary systems, with an option for an additional 162 systems. Deliveries will begin in the first half of 2026 and are expected to conclude by the end of 2027.

Maps - flat at EUR2.37 - announced on Wednesday that it has finalized the acquisition of 51% of the share capital of the newly formed Energy Audit, through a reserved capital increase by Maps Energy Srl totaling EUR187,347.00, of which EUR20,400.00 is nominal value and EUR166,947.00 is share premium.

Predict - in the red by 1.4% - announced on Thursday that it was awarded the supply of an OPTIP Bodycam integrated platform for the Local Health Authority of the Province of Foggia, via direct award, for a total value of EUR97,000.

TraWell Co - down 3.6% - announced on Wednesday that it closed 2025 with a net profit of EUR700,000, a sharp decline from EUR1.9 million as of December 31, 2024. Revenue was EUR28.8 million compared to EUR30.0 million in 2024.

In New York, the Dow gained 1.2%, the Nasdaq advanced 2.0%, while the S&P 500 rose 1.5%.

On the currency front, the euro is trading at USD1.1768 from USD1.1754 on Wednesday evening, while the pound is trading at USD1.3613 from USD1.3598 yesterday evening.

Among commodities, Brent is trading at USD98.47 per barrel from USD101.71 per barrel on Wednesday evening, while gold is worth USD4,735.65 per ounce from USD4,693.70 per ounce yesterday evening.

Regarding Friday's economic calendar, at 0800 CEST, trade balance and industrial production data will be released from Germany.

At the same time, the Halifax House Price Index for the UK will also be released.

From the US, at 1430 CEST, unemployment data will take center stage, while in the evening - as is customary on Fridays - the COT Report will be available at 2130 CEST.

On the corporate calendar for Piazza Affari, results are expected from DiaSorin, Intesa Sanpaolo, Piaggio & C, Riba Mundo Tecnologia, Sanlorenzo, and Simone.

By Maurizio Carta, Alliance News reporter

Comments and questions to [e-mail]

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