(Alliance News) – The Mib surpassed 45,300 on Thursday as investors digested a mounting wave of corporate earnings. Last night, the Fed kept the federal funds rate unchanged at 3.5%-3.75% during its January 2026 meeting, in line with expectations, following three consecutive cuts in 2025.

It is worth noting that Stephen Miran and Christopher Waller dissented, suggesting a further 25 basis point cut. The central bank emphasized that the economy is growing at a robust pace, the labor market is showing greater stability, and inflation remains elevated, clarifying that future moves will depend on economic data.

Chair Jerome Powell stated that the U.S. economy is entering 2026 on solid footing and that the current rate level is consistent with the Fed's objectives.

As a result, the Mib is up 0.5% at 45,358.91 points.

Among other European indexes, the CAC 40 is up 0.8%, the DAX 40 is down 0.6%, while the FTSE 100 is gaining 0.6%.

In the smaller segments, the Mid-Cap is up 0.3% at 60,708.86, the Small-Cap is up 0.2% at 37,285.93, while Italy Growth posts a 0.1% rise at 8,842.83 points.

Among stocks on Piazza Affari, Nexi is one of the few decliners, slipping 0.9% to EUR3.62 per share, after a 0.9% gain in the previous session. It is notable that on Wednesday, Caisse de Depot et Placement du Quebec raised its short position in the stock to 0.93% from 0.80%. Two Sigma, meanwhile, revised its short to 1.12% from 1.09%.

Prysmian leads the pack, climbing 3.2% to EUR100.95 per share, after a 1.7% drop in the previous session.

Saipem is also strong, advancing 2.5% to EUR3.10 per share, with the stock's market cap up over 28% since the start of the year.

The board of STMicroelectronics – up 1.4% – on Thursday approved its fourth quarter 2025 results, reporting a net loss of USD30 million compared to a profit of USD341 million in Q4 2024, weighed down by one-off tax charges of USD163 million. In the October-December period, the semiconductor group posted net revenues of USD3.33 billion, up 0.2% year-on-year.

DiaSorin – up 1.7% – announced Thursday that it has received De Novo authorization from the U.S. Food and Drug Administration for the first fully automated diagnostic test for the hepatitis delta virus on the LIAISON XL immunodiagnostic system. Designated as a Breakthrough Device by the FDA, the test supports the diagnosis of HDV in patients with acute or chronic hepatitis B infection.

Enel is up 0.6%. 2026 begins with some changes for Enel in Argentina, but without a shift in strategy. The group remains in the country and aims to protect its interests. On the asset front, Enel is exiting the 1,200 MW El Chocón hydroelectric plant, whose concession was auctioned by the Milei government and awarded to local group Msu for over USD460 million, a price some analysts consider high. Overall, the new round of concessions for four plants brought the state more than USD700 million.

In the secondary segment, Juventus Football Club – down for a third consecutive session, losing 2.1% – announced Wednesday that footballer Douglas Luiz Soares de Paulo has returned from loan. At the same time, the company said it has reached an agreement with Aston Villa Football Club for the temporary transfer, until June 30, 2026, of the player's sporting rights, for a fee of EUR2 million.

ERG is down 2.1%, after a 0.9% gain in the previous session.

Pirelli is up 4.2%, rebounding after three sessions closed with bearish candles.

d'Amico is up 3.3%, after a 0.3% decline in the previous session, with its price around EUR5.86.

Alerion Clean Power – up 0.1% – announced Wednesday at 9:00 a.m. that the public offering of its green bonds, "Up to Euro 300,000,000 Senior Unsecured Fixed Rate Notes due 2032," for a total amount of EUR200 million, has opened. The company reported strong market response, leading to an early closure of the offering after reaching the target amount. As a result, Alerion now intends to exercise the option to increase the amount by up to an additional EUR100 million, from January 29 to February 3.

On the Small-Cap, Tesmec is up 4.6%, following a 4.0% gain the previous day. The stock, with a market cap near EUR100 million, has a 2025 P/E estimate of nearly 24x on the MarketScreener platform.

Trevi Finanziaria Industriale is up 4.2%, following a 0.7% gain on Wednesday evening.

Borgosesia – up 0.7% – on Wednesday increased the total amount of its "Borgosesia 6.30%" bond issue to EUR65 million. The board of directors approved the increase due to strong demand, following the rapid closure of the first tranche and the positive placement of the second.

Mondo TV – down 1.3% – announced Wednesday that it has signed a non-binding Memorandum of Understanding with Canadian investor Hemlock West to evaluate a potential investment in the company's capital and the launch of an industrial partnership. The transaction would not bring new liquidity but would involve taking over commitments already set out in the recovery plan, the company explained in a note.

Among the numerous decliners is Ratti, down 3.5%, after a 2.1% gain in the previous session.

Among SMEs, Redelfi – up 1.9% – announced Thursday it has signed a term sheet with the WRM group for the creation of a joint venture specializing in the development of data center projects in Italy. The agreement calls for the establishment of a specific Italian-law NewCo, 51% owned by Redelfi or a company it controls and 49% by WRM, with the aim of investing own funds in data center project development over the next two years.

Gismondi 1754 – up 11% – reported it closed 2025 with total sales of EUR10.4 million, down from EUR12.0 million as of December 31, 2024. In the fourth quarter, total sales were EUR3.1 million, up from EUR2.4 million in the same period last year. The company explained that, both in the USA and in Europe, the Wholesale segment saw significant growth alongside strong development of Special Sales.

Elsa Solutions – down 6.5% – announced Wednesday it closed 2025 with preliminary sales revenues of EUR17.7 million, down from EUR21.9 million as of December 31, 2024. The backlog as of December 31, 2025, stands at EUR5.1 million. The company said in a note that the Aliant division acquired orders for 44 prototypes corresponding to as many electrification projects, compared to 32 in 2024.

In New York, the Dow Jones closed flat, as did the S&P 500, while the Nasdaq gained 0.2%.

On the currency front, the euro is trading at USD1.1985 from USD1.1933 at Wednesday's European equity close, while the pound is at USD1.3837 from USD1.3775 last night.

Among commodities, Brent is trading at USD69.39 a barrel from USD68.10 a barrel on Wednesday, while gold is at USD5,555.21 an ounce from USD5,285.10 an ounce last night.

On Thursday's economic calendar, at 1430 CET in the U.S., initial jobless claims will be released, followed by the trade balance.

At 2230 CET, the Federal Reserve balance sheet.

By Maurizio Carta, Alliance News Reporter

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