Milan Edges Up; STM and Campari Lead the Way

(Alliance News) - European stock markets continued to rise on Wednesday--with Milan just above parity--buoyed by fresh fiscal stimulus measures and progress in trade talks between the EU and the US.

The German government--the largest economy in Europe--has approved a EUR46 billion tax relief package for the 2025-2029 period, aimed at supporting the business sector and reviving economic growth.

Meanwhile, European Trade Commissioner Maros Sefcovic described talks with US Trade Representative Jamieson Greer in Paris as "productive and constructive," emphasizing that negotiations are "moving in the right direction."

Markets interpreted these statements positively, viewing them as a sign that the EU could secure an exemption from President Donald Trump's recent decision to double tariffs on steel and aluminum imports, raising them to 50%.

The FTSE Mib is trading fractionally higher at 40,075.00 points, the Mid-Cap is up 0.2% at 54,324.16, the Small-Cap gains 0.3% to 31,592.51, while the Italy Growth index is down 0.2% at 8,108.95.

Across Europe, London's FTSE 100 is up 0.2%, Paris' CAC 40 rises 0.9%, and Frankfurt's DAX 40 increases by 0.9%.

On Milan's blue-chip list, STMicroelectronics stands out, climbing 6.7% to EUR23.94 per share.

Campari also performs well, rising 3.2% and rebounding after two bearish sessions.

Prysmian advances 2.7%, following a 1.7% gain on Tuesday evening.

Banco BPM edges up 0.1%. Notably, Deutsche Bank has raised its target price on the stock to EUR11.30 from EUR10.60.

Among the minority of decliners, Leonardo drops 1.5% to EUR53.66, following a 1.5% gain at Tuesday's close.

On the Mid-Cap segment, Alerion tops the list, advancing 5.7% after a 2.4% loss on Tuesday.

Carel Industries rises 3.1%, marking its third consecutive bullish session.

LU-VE gains 2.5%, bouncing back after three bearish sessions.

At the bottom, Comer Industries slips 2.8% after three sessions among the gainers.

On the Small-Cap index, Zest climbs 4.9% to EUR0.1720 per share, after two bearish sessions.

Landi Renzo gains 4.3%, following a 2.3% loss in the previous session.

Fiera Milano--up 1.3%--announced Wednesday the launch of its buyback program for up to EUR1.2 million. During the plan, which will be completed within a maximum of 18 months, the company may purchase no more than 200,000 of its own ordinary shares.

Among the decliners, Bestbe Holding is down 4.4% to EUR0.13 per share.

Among small and mid caps, Doxee jumps 8.6% after two bearish sessions, with the price hovering around EUR1.82 per share.

Simone--not yet traded--announced Wednesday that it has signed a preliminary agreement to acquire 51% of the share capital of a newco. Through a spin-off of Calamus Sas di Canton e C., the business unit related to the "Topipittori" brand will be transferred to the newco. "Topipittori" is a publishing house specializing in illustrated children's books, with an average turnover of EUR1.3 million over the 2022-2024 period.

Circle--flat at EUR6.82--reported Wednesday that it has signed a new contract to maintain Port Community System services for a major Mediterranean port.

The contract, worth around EUR100,000 and lasting about 12 months, covers the management of PCS services, an advanced digital solution developed to support the evolution of port and intermodal logistics.

In the red, among many, is Destination Italia, down 4.6% after a 2.9% gain at Tuesday's close.

In Asia, the Nikkei rose 0.8%, the Shanghai Composite gained 0.4%, and the Hang Seng closed up 0.6%.

Last night in New York, the Dow rose 0.5%, the Nasdaq gained 0.8%, and the S&P 500 closed up 0.6%.

In currencies, the euro is trading at USD1.1386 from USD1.1372 on Tuesday evening, while the pound is at USD1.3533 from USD1.3520 the previous evening.

In commodities, Brent is trading at USD65.86 per barrel from USD65.75 per barrel on Tuesday evening, while gold is valued at USD3,362.73 an ounce from USD3,373.22 an ounce the previous evening.

Wednesday's macroeconomic calendar includes, at 1300 CEST from the US, the 30-year MBA mortgage market report.

At 1630 CEST, the weekly crude oil inventory report is due.

By Maurizio Carta, Alliance News senior reporter

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