(Alliance News) - The Mib closed lower on Thursday, ending its four-day winning streak and finishing with the index hovering around the 45,800-point mark. Trading desks are assessing a fresh round of corporate results, while the technology sector remained under pressure due to ongoing concerns over potential AI-related disruptions and elevated valuations.
On the monetary policy front, the ECB left interest rates unchanged at its first meeting of 2026, reiterating that inflation is expected to stabilize at the 2% target in the medium term. The rate on main refinancing operations was maintained at 2.15%, while the deposit and marginal lending facility rates remained at 2.0% and 2.4% respectively.
Frankfurt stated that the eurozone economy remains resilient, but warned that the outlook remains uncertain, particularly due to risks associated with global trade policy and ongoing geopolitical tensions.
At the same time, the Bank of England also kept its key rate unchanged at 3.75%, with a narrow vote of 5 to 4. Four members supported a 25 basis point cut, highlighting growing divisions within the Monetary Policy Committee.
The Mib thus shed 1.8% to 45,819.57 points, the Mid-Cap edged up 0.1% to 60,112.92, the Small-Cap slipped 0.3% to 36,586.62, while Italy Growth closed down 0.1% at 8,723.17.
Across Europe, the CAC 40 lost 0.4%, the DAX 40 ended down 0.6%, while the FTSE 100 fell 0.9%.
On Piazza Affari, Inwit had a strong session, closing up 2.1% at EUR7.95, following a 5.5% gain in the previous session.
Amplifon — up 3.0% — announced Thursday that Standard Ethics has upgraded its corporate standard ethics rating to 'EE-' from the previous 'E+', with a Positive outlook. "The Italian group," Standard Ethics explained, "is making progress towards compliance with the international sustainability guidelines promoted by the United Nations, OECD, and EU."
BPER Banca — up 0.3% — announced Thursday morning, before markets opened, that it closed 2025 with consolidated net profit of EUR1.88 billion, up from EUR1.44 billion in 2024. Ordinary consolidated net profit at year-end was EUR2.10 billion, before EUR288.6 million recorded in the fourth quarter as integration charges and EUR181.8 million for PPA impact.
The board of directors proposed total dividends of EUR1.37 billion, up 60% year-on-year and including the interim dividend paid in November 2025, with a payout ratio of 75%. The proposed unit cash dividend is EUR0.65, before the interim already paid, up from EUR0.60 the previous year.
Banca Mediolanum closed down 1.1%. Notably, UBS raised its target price to EUR22.50 from EUR21.60. UBS estimates a total net interest margin growth of 10% between 2026 and 2030, assuming the three-month Euribor remains stable around 2%, a 22 basis point drop in funding costs in 2026, and a 5% annual increase in loans, consistent with the group's guidance but cautious compared to the 8% recorded in 2025.
Stellantis, on the other hand, ended down 5.7% after a 3.5% gain in the previous session. Light commercial vehicles risk becoming a ticking time bomb for the accounts of Renault and Stellantis. According to Les Echos, both groups' delay in meeting European emission targets exposes them to potentially billion-euro fines in the 2025-2027 regulatory cycle. The revision of the 2035 ban does not change short-term obligations, while electric van sales remain weak.
On the Mid-Cap segment, Ariston Holding advanced 3.7%, following a 2.0% gain in the previous session.
OVS — up 1.7% — reported it closed 2025 with sales up about 7% and estimated EBITDA between EUR216 million and EUR218 million, up 11% year-on-year. The result was supported by strong commercial margins despite cost inflation, and by a sharp acceleration in cash generation, exceeding 20%, thanks also to effective working capital management.
Technogym fell 0.7%, breaking a four-session winning streak. Citigroup raised its target price to EUR19.00 from EUR16.00.
Safilo dropped 6.9%, after a 2.3% gain on Wednesday. On Wednesday, Berenberg raised its target price to EUR2.28 from EUR2.07 with a 'buy' recommendation.
On the Small-Cap, Geox gained 3.1% to EUR0.3010 per share, after a 0.5% rise the previous day.
OPS Italia — up 4.7% — announced the full extinguishment of a debt of over EUR1.6 million through conversion into equity, an operation that allows for significant strengthening of its capital base and a drastic reduction in indebtedness. The board of directors approved a reserved capital increase for Taddia of EUR1.4 million and for Ciro Di Meglio of EUR245,000.
Piquadro — down 1.5% — reported results for the first nine months ended December 31, 2025, with revenue of EUR136.8 million, up 1.7% from EUR134.6 million in the previous year. The Piquadro brand posted nine-month revenue of EUR54.4 million, down 5.1% year-on-year: DOS channel sales rose 5.3%, while e-commerce grew 48%, with the wholesale channel sharply down 17%.
Dexelance fell 5.0%, marking its sixth consecutive bearish session.
Among SMEs, ErreDue closed up more than 11%, after a 2.0% gain the previous day, with the price around EUR8.55 per share.
Mare Engineering Group — up 0.8% — announced Thursday it had increased the number of board members to 7 from 5. As the company explained in a statement, the increase was also necessary in light of commitments made under agreements relating to the acquisition of a majority stake in La SIA, completed on May 30, 2025, which provide, among other things, for the entry into the board of Maurizio Ciardi, already chairman and CEO of the same company prior to the acquisition and subsequent merger by incorporation into Mare Group.
Kruso Capital — up 0.7% — approved the consolidated financial statements as of December 31, 2025, reporting net profit nearly doubled from the previous year, up 95% to EUR8.8 million from EUR4.5 million. The positive result was also driven by the organic growth of Credito Economico Popular, which operates in Portugal and contributed EUR1.4 million.
DBA Group — up 0.5% — announced Thursday it had launched new services dedicated to commissioning activities in Spain. In addition, it presented the development strategy of Proyectos IFG, a company in which it is the majority shareholder. Once the service is launched in Spain, DBA Group plans to expand the same line of services to Italy across all market sectors related to infrastructure and complex buildings, as explained in a company statement.
In New York, the Dow Jones is down 0.9%, as are the S&P 500 and the Nasdaq.
On the currency front, the euro is trading at USD1.1795 from USD1.1798 at Wednesday's close in Europe, while the pound is trading at USD1.3548 from USD1.3653 last night.
Among commodities, Brent is trading at USD67.58 per barrel from USD67.46 per barrel on Wednesday, while gold is valued at USD4,874.52 per ounce from USD4,917.87 per ounce last night.
On Friday's macroeconomic calendar, Germany's trade balance and industrial production are due at 0700 CET.
In the evening, as usual on Fridays, the COT Report will be released at 2030 CET.
By Maurizio Carta, Alliance News reporter
Comments and questions to redazione@alliancenews.com
Copyright 2026 Alliance News IS Italian Service Ltd. All rights reserved.
