On the macroeconomic front, all eyes in the United States are on labor market data. The ADP report on the private sector is expected to show an increase in employment for January.
Additionally, today marks the start of a two-day monetary policy meeting in Frankfurt, with expectations that the ECB will remain 'on hold' for the fifth consecutive meeting.
Around 13:55, the FTSE Mib is up about 1.1%, just shy of the 47,000-point mark.
A trader notes that the market is well positioned to push further ahead, with an initial futures target set in the 48,000-48,500 point area.
Trading volumes are around 1.6 billion euros.
Stocks in focus today
** Banks remain at the center of investor attention, with the sector index up 0.7%. Leading the index is a sharp leap by MEDIOBANCA, up more than 7%, followed by parent company MPS, which rises about 2.54%. A trader highlights that the market is once again betting on Siena launching a residual takeover bid to raise its current 86% stake in Piazzetta Cuccia to at least 95%, paving the way for delisting the stock from Piazza Affari. According to MF, there is more than a 50% chance that the industrial plan—potentially to be approved by the end of February—will include the delisting and merger of Mediobanca, spinning off the private and investment banking operations.
Elsewhere in the sector, blue chips UNICREDIT and INTESA are both up about 0.6%, while POP SONDRIO climbs 0.5% after its 2025 results, released yesterday after the market closed, were deemed better than expected by analysts.
** The oil sector is also seeing gains, following another surge in oil prices after the United States shot down an Iranian drone and armed vessels approached a US-flagged ship in the Strait of Hormuz. ENI rises 1.85% to reach a new high since late October 2014 at 17.656 euros. SAIPEM also hits new highs since July 2022, up 0.7% at 3.2 euros.
** DE NORA attempts a rebound (+1.2%) after yesterday's plunge, which followed a note from Kepler Cheuvreux warning of a "difficult" 2026.
** BFF stages a strong recovery, jumping 13% after sharp declines in the previous two sessions, triggered by an unexpected cut in 2026 targets and a leadership change, as the company moves to implement drastic derisking measures.
** Cement stocks are having a negative session, with CEMENTIR down 3% and BUZZI off 1.5%. The sector is under pressure following a slump in Germany's HEIDELBERG (-7%) and Switzerland's HOLCIM (-5%) after an article in Handelsblatt reported that the European Commission intends to significantly weaken the regulatory framework of the EU Emissions Trading System (ETS) by increasing the number of emission certificates available and delaying the end of auctions. This mechanism would particularly hurt cement companies, which would struggle to market zero CO2 emission cement.
** INWIT posts a sharp gain of 5.3%, while TIM advances 1.1%.
** Lastly, AEFFE rises about 3.5% on press speculation that, for the struggling group, the possibility of Invitalia joining as a shareholder and financial partner is under consideration.
(Giancarlo Navach, editing by Claudia Cristoferi)
