Mib Rallies, Rebounds from 39,500 Points as European Markets Open Higher

(Alliance News) - U.S. tariffs remain a central topic in Europe. The recent NATO summit delivered a unified vision for security, agreeing on a defense spending target for member states set at %% of GDP. However, markets now await developments on a potential U.S. extension of tariffs on the EU, as well as the White House's counterproposal to Brussels, which is likely to spark further public debate.

Major European and global indices opened in positive territory. Frankfurt's DAX 40 rose by 0.6%, Paris' CAC 40 hovered just below parity, and London's FTSE 100 climbed 0.3%.

Domestically, the Mib opened up 0.4% at 39,524.21 points, the Mid-Cap index increased 0.3% to 53,590.80, the Small-Cap gained 0.4% to 31,503.43, and the Italy Growth index edged just above parity at 8,149.02 points.

Among blue chips, Iveco Group continued to lead, rising 3.4% and extending yesterday's strong performance.

In banking sector moves, Mediobanca, up 0.6%, announced approval of an updated 'one brand one culture' plan through 2028, forecasting EUR4.40 billion in revenue with 20% growth over the three-year period. CEO Nagel's strategy to fend off Monte Paschi di Siena's offer--MPS shares down 0.4%, with a capital increase of over EUR13 billion targeting Mediobanca--is to reward shareholders with EUR4.9 billion in cash over three years. Additionally, Mediobanca disclosed that shareholder Aurelia Srl sold call options on a total of 250,000 ordinary bank shares.

Unipol also announced its acceptance of the voluntary all-share public exchange offer by BPER Banca for Banca Popolare di Sondrio Spa. The decision, the company explained, was backed by the related-party transactions committee. Unipol shares slipped 0.2%, while BPER fell 0.1%.

Leonardo, which led the index yesterday, opened at the bottom today, down 1.5% at EUR47.45 per share.

On the Mid-Cap front, Alerion surged 7.8% to EUR17.60 per share after updating its industrial plan, which includes approximately EUR1.8 billion in investments over the next three years.

Corrado Passera, CEO of illimity Bank--up 0.4%--announced he will tender all his directly and indirectly held ordinary shares, totaling about 4.0% of the bank's share capital, into the public tender and exchange offer launched by Banca Ifis, which is up 0.2%.

Fincantieri dropped 2.3% following the issuance of over 800,000 new ordinary shares, without nominal value, in connection with the first cycle of the 2022-2024 Performance Share Plan and the 2025-2026 Broad-Based Share Ownership Plan.

Among small caps, EPH led the way with a 6.9% gain.

Close behind was Trevi Finanziaria Industriale, up 5%, continuing a positive trend since the start of the year, with an 18% increase over six months. The group secured contracts and orders worth over EUR140 million in April and May, boosting its order backlog to EUR715 million by the end of May.

Netweek closed the index with a 1.9% decline.

Among SMEs, Mare Engineering Group--down 0.3% at EUR3.39 per share--announced a reduction in the maximum value of its public tender and exchange offer for Eles, which held steady at EUR2.25. Mare subsequently approved a capital increase of up to approximately EUR1.3 million, including share premium, to support the partial voluntary public tender and exchange offer for Eles.

Giocamondo Study--up 3.4%--reported a first-half loss of EUR238,000 for the 2025 fiscal year ending March 31, an improvement from the EUR282,000 loss in the same period last year. Sales revenue reached EUR2.3 million, up 29% from EUR1.8 million in the first half of 2024. Production value rose to EUR2.4 million from EUR1.8 million, marking a 30% increase.

Finance For Food--still not traded--announced that Call Srl, a company linked to CEO Luca Perconti, purchased 65,000 ordinary shares at EUR1.73 each. The shares were sold by Valdichiesa Srl, controlled by Tredici Srl, Finance For Food's majority shareholder. The transaction was authorized by EnVent Italia SIM Spa, considering lock-up obligations assumed at the time of listing. As part of the deal, Call Srl committed to holding the acquired shares for at least 24 months.

Yesterday in New York, the Dow Jones closed up 0.9% at 43,386.84, the Nasdaq gained 1.0% to 20,167.91, and the S&P 500 rose 0.8% to 6,141.02.

In Asia, the Nikkei 225 closed up 1.4%, the Shanghai Composite fell 0.7%, and the Hang Seng was down 0.2%.

In currency markets, the euro traded at USD1.1712 from USD1.1714 at Thursday's close, while the pound traded at USD1.3726 from USD1.3746 last night.

Among commodities, Brent crude traded at USD65.50 from USD68.51 per barrel at the previous close, while gold was valued at USD3,286.92 an ounce from USD3,312.70 an ounce previously.

On the macroeconomic calendar, French inflation data and producer prices are due at 0845 CEST, with Spanish inflation and Italy's consumer and business confidence figures following at 0900 CEST and 1000 CEST, respectively.

For Italy, industrial sales are expected at 1100 CEST, alongside Eurozone confidence data. An hour later, focus shifts to Italy's producer prices.

In the afternoon, attention will turn to U.S. core PCE prices at 1430 CEST, ahead of Baker Hughes rig count data at 1900 CEST, with the day concluding with the Federal Reserve's stress test results at 2230 CEST.

Among companies on Piazza Affari, Giglio Group's results are expected.

By Michele Cirulli, Alliance News Reporter

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