Mib Edges Up; Iveco Leads Gains on European Markets

(Alliance News) - European stock markets opened Wednesday without clear direction, as corporate earnings dominated the financial calendar.

Today, investors are keenly awaiting the Federal Reserve's interest rate decision. The Fed is widely expected to keep rates unchanged for the fifth consecutive meeting, with no clear signals from Jerome Powell of an imminent cut.

After this week, the Federal Reserve will have just three more meetings this year. According to June projections, Fed officials plan to cut rates by a quarter point twice in 2025, making a reduction in September likely.

The Mib is up 0.1% at 41,275.59 points.

London's FTSE 100 is down 0.3%, Paris's CAC 40 is up 0.2%, while Frankfurt's DAX 40 is down 0.2%.

Among the smaller indices, the Mid-Cap is up 0.2% at 55,592.54, the Small-Cap is down 0.2% at 32,989.56, while Italy Growth is up 0.5% at 8,363.76.

On the Mib, Iveco Group is advancing 2.6% to EUR19.57 per share, following a 4.8% gain the previous day.

Inwit - still flat at EUR10.32 - reported first-half results with net profit reaching EUR184.6 million, up 3.1% from the same period in 2024, when it was EUR179.1 million.

Revenues for the first six months of 2025 were EUR535.3 million, up 4.6% from the previous year's EUR511.7 million, "thanks to increased hosting, the development of revenues from new services, and the positive impact of inflation-linked fee adjustments," the company explained.

Amplifon's board - in volatility auction after a 25% drop - on Tuesday approved the half-year financial report as of June 30, closing the period with adjusted net profit of EUR90.5 million compared to EUR107.8 million in the first half of 2024.

The unadjusted figure was EUR68.1 million, down from EUR87.8 million in the same period last year.

Terna - down 0.4% - announced Tuesday it closed the first half with net profit rising to EUR587.7 million from EUR544.8 million a year earlier. Revenues climbed to EUR1.89 billion from EUR1.75 billion.

The company explained that this result was mainly due to growth in Regulated Activities revenues, primarily attributable to the impact of the tariff update on transmission and dispatching fees, partially offset by a reduction in output-based incentives.

On the Mid-Cap, Italmobiliare is up 1.4% at EUR29.40 per share, marking its third consecutive session of gains.

Cementir Holding - up 2.8% - reported consolidated first-half results, with group net profit at EUR73.5 million, down 24% from EUR97.0 million in the same period of 2024. Revenues were EUR796.7 million, down 1.9% from 2024's EUR811.8 million. Non-GAAP revenues were EUR807.1 million, up 0.5% over the reference period in 2024.

The board of Piaggio & C. - up 1.2% - approved the half-year financial report as of June 30, closing the period with net profit of EUR30.1 million, down from EUR52.1 million as of June 30, 2024. Group consolidated net revenues were EUR852.5 million, down from EUR990.3 million as of June 30, 2024. Gross industrial margin was EUR259 million, down from EUR295 million in the first half of 2024, a 12% decrease, though its incidence on revenues increased to 30.4% from 29.8% as of June 30, 2024.

The board of Brembo - down 1.0% - on Tuesday approved group results as of June 30, 2025, with net profit of EUR97.9 million, compared to EUR156.3 million as of June 30, 2024. Consolidated net revenues totaled EUR1.88 billion, down 6.2% from the first half of 2024.

On the Small-Cap, Softlab is performing well, up 4.1% at EUR1.13 per share, after a 4.0% drop the previous day.

Zucchi is up 2.4%, after a 1.5% loss the previous day, but remains down 38% since the start of 2025.

Antares Vision - up 1.8% - announced Tuesday it has signed a partnership with a US multinational in the Fast-Moving Consumer Goods sector. The agreement, the company explained, involves the implementation of a corporate-level serialization and traceability platform, ensuring full supply chain visibility in the cosmetics market, in compliance with current regulations.

Risanamento - still flat - reported it closed the first half with a consolidated net loss of EUR3.8 million, compared to a net loss of EUR25 million as of June 30, 2024. In terms of assets, consolidated equity stands at EUR1.3 million versus EUR5.2 million as of December 31, 2024, while net financial position is EUR29.1 million - positive - compared to EUR14.4 million as of December 31, 2024.

Fidia - just above parity at EUR0.30 - Notably, WorldQuant cut its short position on the stock to 0.87% from the previous 0.97%.

Among SMEs, in a still subdued market, Riba Mundo is up 5.6%, after a 7.7% drop in the previous session.

expert.ai is also up 4.7% at EUR1.50 per share, after a 9.3% decline in the previous session.

Doxee rises 2.7% to EUR1.94 per share, marking its third consecutive session of gains.

In New York last night, the Dow fell 0.5%, the Nasdaq lost 0.4%, and the S&P 500 slipped 0.3%.

Among Asian markets, the Hang Seng is down 1.1%, the Nikkei closed marginally lower at 40,654.70, while the Shanghai Composite rose 0.2% to 3,615.72.

On the currency front, the euro is trading at USD1.1553 from USD1.1534 at Tuesday's close, while the pound is at USD1.3361 from USD1.3340 Tuesday evening.

In commodities, Brent is trading at USD73.01 from USD71.01 per barrel at the previous close, while gold is valued at USD3,329.22 from USD3,320.65 per ounce last night.

Wednesday's macroeconomic calendar features Italy's Gross Domestic Product data at 1000 CEST.

At 1100 CEST, the Eurozone business and consumer confidence report, as well as GDP data, will be published.

At 1300 CEST, the US mortgage sector report will be released, followed at 1430 CEST by GDP data. At 1630 CEST, weekly oil stockpiles and the Cushing inventory will be available.

At 2000 CEST, attention turns to the Federal Reserve's decision, followed by a press conference at 2030 CEST.

On the corporate calendar in Piazza Affari, numerous results are expected, including those from Caltagirone, Elica, Intesa Sanpaolo, Lottomatica, Mediobanca, and Snam.

By Maurizio Carta, Alliance News reporter

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