MIB hits 45,700 points; Avio and Leonardo lead gains, Eni retreats

(Alliance News) - Major European indices finished higher on Wednesday, with Piazza Affari climbing above the 45,700 level to record the strongest performance among the Old Continent's markets.

Statements by Donald Trump regarding a potential reduction of the US military presence in Iran in the coming weeks bolstered expectations of a de-escalation in the Middle East, helping to compress the risk premium embedded in equity assets.

However, Tehran dismissed rumors of a possible ceasefire, denying that any negotiations are currently underway.

On the macroeconomic front, the S&P Global US Manufacturing PMI stood at 52.3 in March, slightly below the preliminary estimate of 52.4 but up from 51.6 in February.

The data indicates a solid expansion in the sector, driven by an increase in production and new orders, particularly from domestic demand, as firms built up inventories and secured prices in the face of the Middle East conflict.

Consequently, the FTSE MIB closed up 3.2% at 45,714.95, the Mid-Cap gained 3.0% to 54,895.64, the Small-Cap rose 2.2% to 33,142.58, while Italy Growth advanced 1.0% to 8,370.86.

London's FTSE 100 closed 1.9% in the green, Paris's CAC 40 advanced 2.1%, while Frankfurt's DAX 40 gained 2.6%.

Returning to Milan, only five stocks on the blue-chip index ended the session in negative territory.

Leading the MIB was Avio, which surged 10% with over 1.6 million shares traded.

Buying interest surrounded Leonardo, which posted a 7.9% gain to EUR62.64 per share after Citigroup upgraded the stock to "buy" with a target price of EUR69.00.

UniCredit performed well, advancing 5.6%. "Alongside the organic strategy, the offer for Commerzbank expresses a broader ambition: Europe needs stronger and better-capitalized institutions," said Chairman Pier Carlo Padoan, reiterating the commitment to maintaining a constructive dialogue to foster European integration.

As reported by La Repubblica on Wednesday, the latest move by CEO Andrea Orcel was an exchange offer for 100% of the capital, starting from the 30% already held, at a contained price to initiate negotiations. There is now time until May to reach an agreement.

Strength was seen in Intesa Sanpaolo, up 4.4%, which announced that its IMI Corporate & Investment Banking division participated, alongside a pool of international banks, in a financing of approximately USD290 million for a battery energy storage project located in Boulder City, Nevada.

Among the few decliners, Tenaris shed 2.2%, while Amplifon lost 0.9% on the floor.

At the bottom of the main list was Eni, down 4.7%. The "six-legged dog" group announced on Wednesday that it had signed a new 15-year, EUR500 million loan with the European Investment Bank for the conversion of several units at the Eni refinery in Sannazzaro de' Burgondi, in the province of Pavia, into a biorefinery.

The project involves converting the Hydrocracker plant using Ecofining technology and constructing a plant for the pretreatment of waste such as used cooking oils, animal fats, and residues from the agri-food industry, which are the primary feedstocks used by Enilive to produce HVO biofuels.

On the Mid-Cap, BFF Bank finished with a double-digit gain, nearing an 11% increase.

MAIRE performed well, closing 3.6% in the green for its third consecutive bullish session. The group announced Wednesday that Nextchem, through its subsidiary KT Tech, was awarded a contract for preliminary engineering activities and the supply of proprietary equipment for a SAF plant under development in North Sumatra province, Indonesia.

Webuild ended trading up 5.0%, after gaining 0.5% on Tuesday.

Juventus hit a 52-week low of EUR1.948 per share during the session before closing at EUR2.012, up 1.1%.

At the bottom of the mid-cap list, NewPrinces closed down 20%, following an 8.5% rise the previous day. The group announced Tuesday that it closed 2025 with strong growth in revenue and key financial indicators, supported primarily by the contribution of recent acquisitions.

On the Small-Cap, OPS Italia soared by double digits, recording a 45% increase.

Ending at the bottom of the list were Aeffe, down 8.0%, and OPS Retail, in the red by 17%.

The board of SS Lazio - flat at EUR1.20 - approved the consolidated half-year financial report as of December 31, 2025, on Tuesday evening, showing a loss for the period of EUR20.4 million compared to a break-even result in the same period the previous year.

Among the SMEs with the highest trading value, Ecosuntek shed 2.5%. The company announced that Matteo Minelli, CEO and reference shareholder, increased his stake to 9.5 million shares, representing over 55% of the capital.

Minelli decided not to launch a mandatory takeover bid, considering that "exceeding relevant shareholding thresholds is to be regarded as temporary." Indeed, the sale of approximately 14% of the capital, equal to 2.3 million Ecosuntek shares, is planned through UMA and Ecosuntek Energy.

STAR7 stood out at the top of the gainers with a 41% advance to EUR11.30 after announcing Wednesday that the reference shareholders - Dante and STAR - signed a contract with Argos Fund for the acquisition by the latter of all shares held by them, equal to 75% of the company's share capital.

The consideration due by Argos for the acquisition is EUR11.90 per STAR7 share cum dividend, reflecting a premium of approximately 50% over the weighted average price of the last six months.

Dedem closed trading with a 7.9% gain. The company announced Tuesday that in 2025, on a consolidated level, the net result stood at EUR1.8 million, an 18% decrease compared to EUR2.2 million as of December 31, 2024.

SolidWorld - down 1.0% - announced that it closed the 2025 financial year with a loss widening to EUR2.7 million from EUR1.8 million recorded on December 31, 2024. Sales revenues were EUR57.5 million, substantially stable compared to EUR57.8 million in the previous year.

In New York, the Dow rose 0.9%, the Nasdaq was up 1.5%, while the S&P 500 was 1.1% in the green.

On the currency front, the euro changed hands at USD1.1610 from USD1.1524 yesterday evening, while the pound traded at USD1.3324 from USD1.3198 on Tuesday evening.

Among commodities, Brent traded at USD101.87 per barrel from USD107.40 per barrel yesterday evening, while gold was worth USD4,784.85 an ounce from USD4,610.63 an ounce yesterday evening.

Thursday's macroeconomic calendar opens at 0300 CET in the US with a speech by President Donald Trump.

At 1100 CET in Italy, Italian retail sales are expected, while at 1345 CET, also in Italy, car registration data will be released.

In the afternoon, at 1430 CET in the US, initial jobless claims are on the agenda along with the trade balance.

At 1700 CET in the US, a speech by the Federal Reserve's Logan is scheduled, while the day concludes at 1900 CET, again in the US, with the rig count data published by Baker Hughes.

Among Piazza Affari companies, results from Digital Value and Inwit 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.