Mib in the Green; Lottomatica and Ferrari Outperform, STM Slides

(Alliance News) - On Tuesday, major European indices closed mixed, with Milan's Piazza Affari edging above parity at around 43,260 points, while Frankfurt was the weakest among the Old Continent's stock exchanges.

"Global equity markets stalled on Tuesday as investors took profits following warnings from several Wall Street CEOs about the possibility of a significant correction in the indexes," explained Axel Rudolph, analyst at IG.

Oil prices declined over concerns of oversupply, despite OPEC+'s decision to suspend planned production increases at the start of the new year. Gold, silver, and copper also weakened after less dovish remarks from some members of the Federal Reserve.

As a result, the FTSE Mib closed up 0.1% at 43,262.35, the Mid-Cap lost 0.9% to 57,059.00, the Small-Cap rose 0.5% to 36,400.41, while Italy Growth retreated 0.6% to 8,630.51.

London's FTSE 100 closed up 0.1%, Paris' CAC 40 slipped 0.6%, and Frankfurt's DAX 40 fell 0.8%.

Back in Milan, on the main blue-chip index, Lottomatica outperformed all peers, finishing at the top with a 3.3% gain after releasing nine-month results late Monday, reporting an adjusted net profit of EUR257.4 million.

Ferrari also attracted strong buying, closing up 3.2% following the publication of its nine-month results. The Prancing Horse company announced Tuesday that it closed the first nine months of 2025 with a net profit of EUR1.22 billion, up 7% from EUR1.14 billion in the same period of 2024, while diluted earnings per share rose to EUR6.82 from EUR6.31. Net revenues grew 8% to EUR5.34 billion from EUR4.94 billion.

The Maranello-based company confirmed the upward revision of its 2025 guidance presented at October's Capital Markets Day, with expected revenues at or above EUR7.1 billion, adjusted EBITDA of at least EUR2.72 billion and a margin of 38.3%, adjusted EBIT of EUR2.06 billion with a 29% margin, adjusted earnings per share of at least EUR8.80, and industrial free cash flow around EUR1.30 billion.

Enel performed well, up 1.6%, as did FinecoBank, which advanced 1.1%.

Interpump Group - down 0.1% - announced Tuesday it had acquired, through its subsidiary Reggiana Riduttori, a 70% stake in Borghi Assali.

Lagfin reiterated its compliance with the law and clarified that the measure does not affect its control over Campari, which stands at over 80% of voting rights. According to Equita, the investigation involves only the stake held by Lagfin, not the operating company. Campari closed up 1.2%.

Among the decliners, Eni dropped 0.3%. On Tuesday, the company announced the completion of the sale of a 20% stake in Plenitude Spa to Ares Alternative Credit funds, affiliates of Ares Management Corporation.

BPER Banca - down 0.9% - announced Tuesday its intention to proceed with the early redemption of the "Euro 400,000,000 Fixed Rate Tier 2 Subordinated Callable Notes" bond, originally due on November 30, 2030. The redemption date is set for November 30 of this year, five years ahead of the scheduled maturity.

Selling hit Prysmian, down 2.3% following previous losses, Stellantis, which lost 2.4%, and Leonardo, which dropped 2.0%.

At the bottom of the main index, STMicroelectronics fell 2.5% to EUR20.78.

On the Mid-Cap, ERG attracted buying, closing up 1.6% and marking its second consecutive positive session.

MAIRE - down 0.4% - announced Tuesday it had exercised the option to increase its offer on the "Senior Unsecured Sustainability-Linked Notes due 2030" bond, after subscriptions for EUR200 million, the minimum required, were reached at the start of the placement. The company decided to raise the offer by up to an additional EUR75 million in response to strong demand, in agreement with Equita SIM, acting as placement agent.

Selling hit Salvatore Ferragamo, down 1.5% to EUR6.745. Meanwhile, Barclays raised its target price to EUR5.10 from the previous EUR3.50.

At the bottom of the secondary index, Avio closed down 3.3% after gains in the previous session.

On the Small-Cap, Industrie De Nora ended the session sharply higher, surging 17%. The company announced Tuesday it closed the first nine months of 2025 with an adjusted net profit of EUR64.5 million, up 22% from EUR52.8 million in the same period of 2024.

Softlab also attracted buyers, rising 2.8% after gaining 3.6% in the previous session.

Landi Renzo finished up 2.6%, marking its sixth consecutive bearish-candle close.

At the bottom of the list, Itway lost 4.1%, while Met.Extra Group closed down 3.6%.

Among SMEs, Telesia advanced 1.8%, following a 1.2% gain the previous session, with its price around EUR1.77.

Energy Time - up slightly by 0.5% - announced it had signed a contract with a major multinational player to provide executive design services and the installation of a ground-mounted photovoltaic plant with tracker technology.

Mare Group - up 2.5% - reported that the Council of Ministers had authorized the group's acquisition of Rack Peruzzi.

At the bottom of the alternative index, Riba Mundo Tecnologia slumped 12%.

In New York, the Dow was down 0.4%, the Nasdaq retreated 1.3%, and the S&P 500 was in the red by 0.8%.

On the currency front, the euro traded at USD1.1490 from USD1.1528 at Monday's equity close, while the pound changed hands at USD1.3045 from USD1.3145 Monday evening.

Among commodities, Brent traded at USD64.47 per barrel from USD65.03 at Monday's close, while gold was valued at USD3,966.70 an ounce from USD3,999.41 an ounce Monday evening.

Wednesday's macroeconomic calendar opens at 0245 CET with the release of China's services PMI.

At 0800 CET, German factory orders are due in the euro area, followed at 0845 CET by French industrial production data.

From 0915 CET, a series of European services PMI data will be released: Spain's services PMI, Italy's composite and services PMI at 0945 CET, and the corresponding French indices at 0950 CET.

At 0955 CET, Germany will publish its composite and services PMI.

At 1000 CET, UK car registration figures and Italian retail sales are due. At the same time, the eurozone composite and services PMI will be released.

At 1030 CET, the UK will publish its composite and services PMI.

In the afternoon, at 1300 CET, the US will release the 30-year MBA mortgage rate and weekly mortgage applications, followed at 1500 CET in the eurozone by consumer confidence data.

At 1600 CET, investors will look to the US for the release of the ISM non-manufacturing index, while at 1630 CET the EIA report will be published.

The day will end at 1710 CET with a speech by Breeden of the Bank of England.

Among Piazza Affari companies, results are expected from Anima Holding, Banca Generali, Banca Popolare di Sondrio, BPER Banca, Buzzi, DiaSorin, Leonardo, Mediobanca, Snam, Telecom Italia, and six other companies.

By Antonio Di Giorgio, Alliance News reporter

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