Following a Federal Reserve meeting that delivered no surprises or fresh insights, U.S. futures are trending higher, although initial reactions to the results from big caps Meta, Microsoft, and Tesla remain mixed.
Around 12:50 pm, the Ftse Mib is up 0.6% with trading volumes at approximately 1.2 billion.
Among the standout stocks:
** PIRELLI is surging with a gain of over 5% on expectations that a solution will be found regarding the Chinese stake in the company, which analysts say reduces the risk of a share sell-off on the market. According to media reports, the likely scenario is a blind trust for Sinochem's stake.
** Buying is also concentrated in the energy sector, which includes a 3.8% rise for PRYSMIAN and a 1.9% gain for TENARIS. ENI is up 1.9%, while SAIPEM jumps nearly 3% after UBS raised its target price to 3.4 from 2.9 euros and competitor TotalEnergies resumed its liquefied natural gas operations in Mozambique, where the Italian group also holds a major contract.
** On the downside, ERG falls on concerns about potentially unfavorable regulatory action for solar energy.
** Banks are little changed, with MEDIOBANCA standing out at +1.3%.
** DIASORIN performs well after receiving FDA approval for a hepatitis delta test.
** STM turns negative after a strong start, following results that slightly beat expectations, but the company warned that restructuring costs will impact this year's accounts as well, after already booking charges of $141 million in the fourth quarter.
** DE' LONGHI is volatile, now up 0.7%, also following its results.
** FERRAGAMO continues to see selling (-1.9%).
** AEDES remains suspended, with a theoretical drop of 43%, in line with the implied discount in the price of its 5 million euro capital increase.
(Claudia Cristoferi, editing Andrea Mandalà)
