Milan leads European gains at the open; BPM rallies

(Alliance News) - Major European indices opened in positive territory on Thursday, with Milan outperforming its peers. Investors are currently weighing the likelihood of an extended truce between the US and Iran, while considering the potential for a broader agreement that could end the conflict and reopen the Strait of Hormuz.

The FTSE Mib rose 0.5% to 48,415.84, the Mid-Cap gained 0.8% to 57,851.87, and the Small-Cap climbed 0.4% to 34,653.97, matching the 0.4% rise of the Italia Growth to 8,743.43.

Elsewhere, London's FTSE 100 edged up 0.3%, the DAX 40 in Frankfurt added 0.1%, and the CAC 40 in Paris rose 0.2%.

On the macroeconomic front, the UK economy expanded in February, bolstered by broad-based growth across the services and production sectors.

Gross Domestic Product increased by 0.5% in the three months to February, picking up from the 0.3% growth seen in the three months to January and following a flat reading in the three months to December.

Industrial production rose by 1.2% over the same period, supported by manufacturing and energy supply, while construction output fell by 2.0%, extending its recent decline.

In commodities, Brent crude surpassed USD95, while WTI rose to USD92 following pressure earlier in the week. In Europe, natural gas futures stabilized around EUR41 per MMBtu, remaining near their lowest levels in six weeks.

Back in Milan, Banco BPM led the blue-chip index, rallying 4.0%. Mediobanca also performed well, up 3.8%, followed by Banca Monte dei Paschi di Siena, which gained 3.0%.

On Wednesday afternoon, Luigi Lovaglio was voted to remain at the helm of Montepaschi after securing a majority at the shareholders' meeting for the renewal of the board of directors.

Support from Banco BPM and Delfin proved decisive in swaying the vote. The market largely rewarded the outgoing board's slate, in line with recommendations from proxy advisors.

Ferrari also gained 0.9%. The company announced on Wednesday that its shareholders' meeting re-elected all director nominees, confirming John Elkann and Benedetto Vigna as executive directors.

Furthermore, shareholders approved a proposed dividend of EUR3.615 per share, an increase of approximately 21% year-on-year, representing a total distribution of roughly EUR640 million.

Fincantieri rose 0.9%. The company announced on Thursday that it has signed an agreement with Princess Cruises for the construction of three new Voyager-class cruise ships powered by liquefied natural gas.

The vessels will be built at Fincantieri's Monfalcone shipyard, with deliveries scheduled for 2035, 2038, and 2039 respectively.

Laggards included DiaSorin, Eni, and Campari, which fell 1.8%, 1.3%, and 0.9% respectively.

On the Mid-Cap index, MFE-MediaForEurope released its results for the year ending December 31, 2025, on Wednesday. The company reported that profit doubled to EUR301 million from EUR137.9 million in 2024.

The board will propose a dividend of EUR0.22 per Class A and Class B ordinary share to the shareholders' meeting. This is a reduction from the EUR0.27 paid the previous year. The company explained that the 2025 dividend represents a total amount of EUR154 million, the highest in fifteen years.

Revenue reached EUR4.03 billion, up from EUR2.95 billion the previous year. Class A shares were trading up 6.1%, while Class B shares rose 0.9%.

Piaggio & C. - up 1.0% - announced on Wednesday that its board has approved a new share buyback plan. The program involves 27 million ordinary shares for a maximum value of EUR41.5 million.

Arnoldo Mondadori Editore slipped 0.2%. The company announced that, following its offer and discussions with the liquidator, a contract has been signed for the acquisition of Hoepli's school publishing business unit.

The transaction is expected to close within the first half of the current financial year, subject to specific conditions precedent.

On the Small-Cap index, SIT - down 2.2% - reported a net profit of EUR1.3 million, an improvement over the EUR31.6 million loss recorded in 2024. Consolidated revenue stood at EUR319.1 million, up 6.5% year-on-year and 7.8% at constant exchange rates.

Triboo announced on Wednesday that it closed 2025 with a loss of EUR2.3 million, narrowing from the EUR11.2 million loss in 2024. The stock rose 3.9% at the open.

Bastogi has yet to see any trades. The company announced that its board approved the 2025 results, reporting a profit of EUR17.8 million, up from EUR6.9 million in 2024. Total revenue was EUR63.9 million, compared to EUR62.3 million in the previous twelve months.

On the Italia Growth market, SG Co closed the first quarter with consolidated revenue of EUR20.9 million, up from EUR14.1 million as of March 31, 2025. The contracted order backlog stood at EUR9.6 million, compared to EUR4.8 million in Q1 2025. The stock rose 1.1%.

Eles announced on Thursday that, regarding the voluntary tender offer launched by EBidCo Srl to acquire all of its shares, 328,532 remaining shares were tendered during the sell-out period, representing approximately 29% of the total remaining shares for a value of EUR1.1 million.

Borsa Italiana will suspend Eles ordinary shares from trading on Euronext Growth Milan on April 22 and 23, 2026, with delisting effective from April 24, 2026.

Svas Biosana - flat at EUR9.00 per share - reported 2025 results on Wednesday, closing the year with a profit of EUR6.8 million, a 15% increase from EUR5.9 million in 2024.

The board will propose a dividend of EUR0.20 per share, down from EUR0.25 last year.

In New York, the Dow Jones closed down 0.2% at 48,463.72 points, the Nasdaq rose 1.4% to 26,204.58, while the S&P 500 gained 0.8% to 7,022.95 points.

In Asia, the Nikkei closed up 2.4% at 59,518.34 points, the Shanghai Composite gained 0.7% to 4,055.55, and the Hang Seng rose 1.7% to 26,378.09 points.

On the currency front, the euro was trading at USD1.1794, down from USD1.1806 on Wednesday evening, while the pound was at USD1.3565, compared to USD1.3578 yesterday evening.

Among commodities, Brent crude was trading at USD95.82 per barrel, up from USD95.46 yesterday evening, while gold was valued at USD4,845.56 an ounce, up from USD4,797.41.

Thursday's macroeconomic calendar includes Italian inflation data at 1000 CEST.

From the US, jobless claims are due at 1430 CEST, followed by industrial production at 1515 CEST. Finally, the Federal Reserve's weekly balance sheet will be released at 2230 CEST.

Corporate earnings are expected from Dotstay, EuroCommercial Properties, Fidia, OVS, Pirelli & C, and Tessellis.

By Claudia Cavaliere, Alliance News reporter

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