(Alliance News) - The Mib opened lower on Friday, with the index marking 45,500 points and Stellantis taking center stage – negatively – after the automotive group announced EUR22 billion in charges and the suspension of its dividend, while also planning to issue bonds of up to EUR5 billion to strengthen liquidity.

As a result, the Mib is down 0.6% at 45,551.49.

Across Europe, the CAC 40 is down 0.7%, the DAX 40 drops 0.3%, while the FTSE 100 is down 0.4%.

Among the smaller indices, the Mid-Cap is down 0.8% at 59,653.51, the Small-Cap is losing 0.6% at 36,351.61, while the Italy Growth index is down 0.4% at 8,687.00 points.

In Milan, Unipol is up 2.5% at EUR19.79 per share. Notably, Berenberg raised its target price to EUR24.80 from EUR21.10 per share.

FinecoBank – up 2.0% – announced Friday that it has approved its 2025 accounts, closing with a net profit of EUR647.0 million, in line with the previous year. The board of directors has proposed a dividend of EUR0.79 per share, up 7% year-on-year. Total revenues for 2025 amount to EUR1.31 billion, essentially stable compared to 2024. Net interest income stands at EUR633.1 million, down 11.0% year-on-year, penalized by the decline in market interest rates.

The board of Banco BPM – down 2.1% – on Thursday approved its 2025 results, ending with a net profit of EUR2.1 billion, compared to EUR1.9 billion in the previous year, and proposing a dividend of EUR1.0 per share. During the year, net interest income stood at EUR3.1 billion as of December 31, 2025, down from EUR3.4 billion the previous year.

Stellantis plunges, dropping 21%. As mentioned above, the company announced Friday that it had conducted a review of its strategy and related costs, reporting that in the second half of 2025, it recorded charges of approximately EUR22 billion following "a change in strategy that places freedom of choice – with an expanding range of electric, hybrid, and advanced combustion engine vehicles – at the core of the company's plans."

In the secondary segment, heavy selling hits LU-VE, down 8.2% at EUR38.15 per share after gaining 2.1% in the previous session.

Avio, meanwhile, drops 4.6% to EUR32.05 per share, following a 1.1% gain the previous day.

The board of Credito Emiliano – up 0.1% – on Thursday approved its accounts, closing 2025 with consolidated net profit of EUR621.5 million compared to EUR620.1 million in 2024. A dividend of EUR0.75 per share was also proposed, up from EUR0.70 in 2024, corresponding to a yield of 4.7% on the current share price.

MAIRE – up 0.2% – announced Thursday that between January 30 and February 5, it purchased 742,975 of its own ordinary shares at an average price of EUR15.121 each, for a total outlay of EUR11.2 million.

Pirelli & C – down 0.7% – reported Thursday that the board of directors has largely backed CEO Andrea Casaluci's approach to the future of Cyber Tyre activities, confirming that the technology will remain fully integrated within the group's industrial and organizational framework. The decision was approved with 9 votes in favor and 5 against, the latter cast by directors linked to the Chinese shareholder.

In the Small-Cap, Olidata is down 4.0% at EUR1.98 per share, after two bullish sessions.

Aeroporto Guglielmo Marconi di Bologna, on the other hand, is up 2.7%. In January, total passengers reached 702,591, up 4.1% from the same period in 2025. Domestic passengers totaled 169,900, up 8.3% on 2025, while international passengers were 532,691, up 2.8% on 2025.

OPS Italia – still not traded – announced the full extinguishment of a debt exceeding EUR1.6 million through conversion into equity, a move that significantly strengthens its capital base and drastically reduces its debt. The board of directors approved a capital increase reserved for Taddia for EUR1.4 million and for Ciro Di Meglio for EUR245,000.

The board of Generalfinance – up 4.3% – approved the 2025 accounts, closing with a net profit of EUR28.8 million, up from EUR21.1 million the previous year, and proposing a unit dividend of EUR1.36, higher than the EUR0.83 distributed in 2024. The shareholders' meeting will be called to approve a total dividend payout of EUR17.2 million, with a payout ratio of about 60% and a dividend yield of 5.7% on the share price as of February 4, 2026.

Piquadro – up 3.1% – reported figures for the first nine months ended December 31, 2025, with revenues of EUR136.8 million, up 1.7% from EUR134.6 million in the previous year. The Piquadro brand posted nine-month revenues of EUR54.4 million, down 5.1% year-on-year: sales through DOS channels rose 5.3%, while e-commerce grew by 48%, with the wholesale channel sharply down by 17%.

Among SMEs, Estrima is up 5.3% at EUR0.119, leading the index.

Kruso Capital – up 5.3% – approved its consolidated financial statements as of December 31, 2025, reporting a net profit nearly doubled from the previous year, rising 95% to EUR8.8 million from EUR4.5 million. The positive result was also driven by organic growth at Credito Economico Popular, which operates in Portugal and contributed EUR1.4 million.

GM Leather – still not traded – announced the completion of the rights offering period for its capital increase. During the operation, 3.1 million new ordinary shares were subscribed, representing 53.26% of the total offer, for a total value of EUR2.4 million. The shares were issued at a subscription price of EUR0.76.

Gismondi 1754, meanwhile, is down 4.2% at EUR1.49 per share, after falling 4.9% in the previous session.

In New York last night, the Dow Jones closed down 1.2%, as did the S&P 500, while the Nasdaq lost 1.6%.

Among Asian markets, the Nikkei gained 0.8%, the Hang Seng fell 1.2%, while the Shanghai Composite was down 0.3%.

On the currency front, the euro is trading at USD1.1790 from USD1.1798 at Thursday's European close, while the pound trades at USD1.3564 from USD1.3653 the previous evening.

Among commodities, Brent is trading at USD68.19 per barrel from USD67.58 per barrel on Thursday, while gold is worth USD4,857.53 an ounce from USD4,874.52 an ounce the previous evening.

On Friday's macroeconomic calendar, as usual, the COT Report will be released in the evening at 2030 CET.

Among companies on Piazza Affari, results are expected from Banca Sistema, Buzzi, and Next Re.

By Maurizio Carta, Alliance News reporter

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