MIB Gains Strength, Lifted by STM and Prysmian

(Alliance News): Major European indices opened in positive territory on Thursday, with technology stocks driving gains in Milan as the semiconductor sector attempts to recover from recent losses.

On the geopolitical and financial front, investors are weighing the evolving situation in the Middle East while preparing for the ECB's monetary policy decision.

The U.S. military announced it has completed strikes in Iran, while Israel reported missile launches from Lebanon. Meanwhile, Kuwait has closed its airspace amid what has been described as "Iranian aggression."

In the meantime, the ECB is expected to implement its first rate hike since 2023.

Consequently, the FTSE MIB opened up 0.8% at 50,428.31, the Mid-Cap rose 1.0% to 50,496.69, the Small-Cap edged up slightly to 35,762.540, and Italy Growth slipped 0.3% to 9,114.00.

In Europe, Paris's CAC 40 rose 0.5%, Frankfurt's DAX 40 saw a slight decline, and London's FTSE 100 climbed 0.5%.

Returning to Milan, among the blue chips on Piazza Affari, STMicroelectronics led the pack with a 2.7% gain, followed by Prysmian and Avio, up 2.6% and 2.2% respectively.

Leonardo and Brunello Cucinelli also opened higher, gaining between 1.6% and 1.8%.

The banking sector continues to attract buyers: Intesa and Mediobanca rose 1.0%, UniCredit gained 1.1%, Banco BPM climbed 0.8%, and Banca Monte dei Paschi di Siena (MPS) was up 0.7%.

Regarding MPS, Economy Minister Giancarlo Giorgetti stated that the government will evaluate available options for divesting its 4.9% stake in the bank as part of the ongoing consolidation within the Italian banking sector.

Addressing the banking "risiko" involving MPS, Mediobanca, and Generali, Giorgetti reiterated that the State must exit the Sienese bank's capital and that the valuation will depend on market offers.

Among the decliners, Ferrari slipped 0.3%. Citi maintains a cautious stance on the stock, noting that brand strength and earnings stability continue to provide support, while highlighting several risk factors that could limit growth potential in the coming quarters.

In a note by analysts Harald Hendrikse, Ross MacDonald, and Thomas Chauvet, the bank observed that Ferrari shares have shown resilience in recent months, consolidating between €280 and €310 despite market focus on the launch of the new electric vehicle, Luce.

Campari, down 0.3%, announced Wednesday that it has placed €600m in seven-year senior unsecured fixed-rate bonds.

The new bonds, aimed at institutional investors, represent the first issuance under the company's Euro Medium Term Note program. The securities will mature on June 17, 2033, carrying a fixed annual coupon of 4.25%, with a re-offer spread of 140 basis points over the mid-swap rate.

Telecom Italia opened up 0.6% after announcing Wednesday that a reverse stock split will take effect on June 15, at a ratio of one new share for every ten existing shares.

The operation will consolidate approximately 21.36bn ordinary shares into roughly 2.14bn new shares, which will retain the same characteristics as those currently outstanding. Share capital will remain unchanged at €6bn.

TIM specified that June 12 will be the final trading day for the stock prior to the split.

On the Mid-Cap segment, Ferretti fell 0.3%. The company stated Thursday that it has "taken note of the summons" from shareholder KKCG Maritime, which announced an appeal to the Court of Bologna against resolutions approved at Ferretti's May 14 shareholders' meeting, seeking an injunction.

The group's second-largest shareholder specifically challenges the vote cast by Ferretti International Holding, through which Weichai holds a 39.5% stake, arguing that the associated voting rights should have been suspended under Golden Power regulations.

In response, Ferretti stated it will "protect its rights through appropriate legal counsel to defend itself and establish the absolute correctness of its actions in the proper venue," adding that its corporate bodies "remain fully operational."

Banco di Desio e della Brianza advanced 0.4% after closing up 4.5% previously. On Wednesday, it reported that Averla, closely associated with director Gerolamo Gavazzi, purchased 15,000 shares at €9.649 each, for a total value of €144,735.

d'Amico International Shipping rose 1.0% after a 2.8% gain to €7.40 per share. According to Intesa Sanpaolo, the company continues to benefit from active fleet management: the bank maintains a "buy" rating with a target price of €7.70.

Analyst Arianna Terazzi views the sale of the MR High Tide tanker, announced for $28.5m, as a positive move.

Leading the list were LU-VE, up 3.4%, PharmaNutra, up 3.3%, and Juventus FC, which rose 2.4%.

Salvatore Ferragamo also performed well, opening up 1.9% after a 0.5% dip to €9.31. Citi confirmed its "neutral" rating and raised its target price to €9.85 from €7.50. Analyst Thomas Chauvet noted that the new strategic plan has helped revive brand momentum and set the stage for a gradual recovery in profitability.

The bank highlighted that retail channel growth at constant exchange rates accelerated from 4% in Q3 2025 to 6% in Q4 2025 and Q1 2026, supported by cost discipline.

On the Small-Cap index, FILA opened up 4.1%. The company announced Wednesday that it purchased 35,000 treasury shares between May 25 and May 29 at an average price of €8.8391, totaling €309,366.74.

Conversely, Fidia opened down 3.1%. While the company returned to profit in 2025 for the first time in years, directors and auditors continue to flag uncertainties regarding the group's status as a going concern. The machine tool firm reported revenues of €30.5m, up 75%, and a net profit of €1m compared to a €9.5m loss in 2024.

Pininfarina, yet to trade, announced Wednesday that shareholders have appointed Paolo Dellachà as a new board member following the approval of last year's accounts.

Among SMEs, Franchetti opened in the red. Its board proposed a mandate for the extraordinary shareholders' meeting, expected by July 5, to increase share capital by up to €10m, including any share premium, to be exercised within three years.

The company explained that this mandate aims to ensure greater flexibility and speed in accessing new capital to support growth and seize extraordinary opportunities.

eVISO, up 0.4%, announced Tuesday that eVISO LUZ Y GAS, established in Galicia last April, signed an agreement with a major international reseller. The deal involves providing energy and sales support services in the Spanish market, contributing directly to a Gross Margin target of €500,000 by 2027.

Casta Diva, up 0.4%, announced Wednesday the signing of a strategic memorandum of understanding with Faalyat, a Bahraini group active in major events and entertainment. The agreement establishes a framework for joint opportunities in large-scale events, video production, and cultural projects in Bahrain, the Gulf, and Europe.

Poligrafici Printing has not yet traded. The company announced Wednesday that shareholders appointed a new board for the 2026 to 2027 terms. The new board includes Chairman Andrea Leopoldo Riffeser Monti, Sergio Vitelli, CEO Nicola Natali, Bruno Riffeser Monti, and Paolo Restelli.

In New York on Wednesday, the Dow closed down 1.9% at 49,918.78, the Nasdaq fell 2.0% to 25,169.50, and the S&P 500 dropped 1.6% to 7,266.99.

In Asian markets, the Hang Seng fell 0.8%, the Shanghai Composite lost 0.2%, while the Nikkei remained flat at 64,217.27.

In currencies, the euro is trading at $1.1546, down from $1.1553 on Wednesday evening, while the pound is at $1.3384 compared to $1.3381 yesterday.

In commodities, Brent crude is trading at $92.33 per barrel, up from $90.83 on Wednesday, while gold is at $4,107.10 per ounce, down from $4,268.60 at yesterday's close.

Thursday's macroeconomic calendar includes a three and seven-year BTP auction in Italy at 11:30 CEST, followed by the European Central Bank's interest rate decision at 14:15 CEST.

At 14:30 CEST, the U.S. will release producer price inflation data and jobless claims.

No major corporate announcements are expected on the Piazza Affari calendar.

By Chiara Bruschi, Alliance News reporter

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