Buy-side pressure in the order book; Prysmian leads the pack

(Alliance News) - On Tuesday, European markets continued to trade in positive territory - with London the sole outlier in the red - as the MIB pushed past the 48,400 mark, bolstered by an increasingly dense corporate earnings calendar. Brent crude prices slipped towards USD112 per barrel, despite intensifying tensions in the Middle East.

The US and Iran exchanged fire in the Strait of Hormuz, heightening uncertainty over the stability of the four-week ceasefire. US forces repelled Iranian attacks while escorting two US-flagged vessels through the strategic waterway, stating they 'defended all commercial vessels' from drones and small craft deployed by Tehran.

Meanwhile, the United Arab Emirates reported intercepting Iranian missiles and confirmed a fire at the Fujairah oil terminal.

These developments followed President Trump's outline of plans to restore navigation in the Strait of Hormuz and support stranded vessels, though shipowners remain cautious due to elevated security risks.

The latest escalation in the strait suggests the route will likely remain closed until a deal is reached between the US and Iran, leaving markets wary of potential further spikes in energy prices.

The MIB is currently up 2.0% at 48,440.02 points, the Mid-Cap is advancing 1.0% to 58,131.69, the Small-Cap is up 0.7% at 34,716.42, while Italy Growth is posting a 0.2% gain at 8,890.52.

Elsewhere in Europe, the CAC 40 is up 0.6% and the DAX 40 is gaining 1.0%, while the FTSE 100 is shedding 0.9%.

On the MIB, Prysmian is climbing 5.3% to EUR132.95. Notably, Kepler Cheuvreux raised its price target to EUR133.00 from EUR98.00 with a 'hold' recommendation.

UniCredit is showing strength, advancing 4.9% following the release of quarterly results that highlighted robust profitability growth. Net profit reached EUR3.22 billion, up 16% from EUR2.77 billion a year earlier. During the period, total revenues stood at EUR6.87 billion, up 4.9% year-on-year from EUR6.56 billion, while net revenues reached EUR6.7 billion, a 3.3% increase.

Fincantieri - up 0.7% - is strengthening its presence in the Balkans through a joint venture in Albania with Kayo, a subsidiary of the local Ministry of Defence, Milano Finanza reported on Tuesday. The agreement involves the creation of a new company, 51% owned by Fincantieri, for shipbuilding and maintenance based at the Pashaliman shipyard, destined to become a strategic hub in the Eastern Mediterranean.

The project initially targets supplies for the Albanian navy, as well as the export of small and medium-sized offshore patrol vessels. The 2030 plan envisions the construction of approximately 10 ships over four years, with a value of around EUR1 billion, reaching up to EUR1.5 billion according to some estimates.

Among the few decliners is Saipem, which is shedding 0.8% after two sessions in the green.

Inwit is down 0.7% after two consecutive positive sessions.

In the mid-cap segment, Moltiply Group is surging 7.6% to EUR36.80, following a more modest 0.6% gain in the previous session.

Brembo is advancing 6.2%, snapping a ten-session losing streak.

Carel Industries is up 3.1%, marking its third consecutive positive session.

OVS - up 1.6% - announced on Monday that it purchased 293,781 ordinary shares between April 27 and April 30 at an average price of EUR5.0785, for a total consideration of EUR1.5 million. Following these transactions, the company holds 12.0 million shares, representing 4.7% of the share capital.

Interpump Group - up 0.3% - announced on Monday that between April 27 and May 1, it repurchased 100,000 of its own ordinary shares at an average price of EUR36.1106 each, for a total of EUR3.6 million. To date, the company holds 3.7 million treasury shares, or 3.4% of the share capital.

Newprinces is sliding 9.2%, after a 6.7% gain the previous day.

On the Small-Cap index, Itway is pushing its price up by 3.7% after two bearish sessions, with the price hovering around EUR1.11 per share.

doValue - flat at EUR2.21 - announced on Monday the completion of the first sale of re-performing loans in Greece to specialized institutional credit investors. The portfolio, consisting of approximately 3,400 loans related to around 1,800 main debtors with a gross value of approximately EUR230 million, was originally included in the Cairo securitization and reached re-performing status through active management by doValue Greece as servicer.

TXT e-solutions - up 1.2% - announced on Monday that it signed an agreement to acquire 100% of NetMediaClick, a MarTech company active in performance marketing and retail media, thereby strengthening its Smart Solutions division and expanding its domestic market presence. NetMediaClick, founded in 2007 and employing around 20 professionals, closed 2025 with revenues of EUR4.6 million and an adjusted EBITDA of approximately EUR900,000, representing a margin of around 20%.

Dexelance - down 0.9% - announced on Monday that it closed the first quarter ended March 31 with a net loss of EUR3.8 million, widening from the EUR2.6 million loss recorded in the same period of 2025, while the adjusted net result was negative by EUR200,000. Revenues stood at EUR84.4 million, up 17% from EUR72.1 million in Q1 2025, primarily supported by the inclusion of Mohd in the consolidation perimeter; however, on an organic basis, revenues saw a decline of approximately 11%.

Among SMEs, Doxee is advancing 8.2%, marking its fifth consecutive bullish session at EUR4.91 per share.

Fope is also in high demand, climbing 5.3% to reach EUR40.00 per share.

IDNTT - up 0.7% - announced on Tuesday that Banca Valsabbina has subscribed to the EUR1 million 2026-2032 minibond at 2.50% issued by the company. Banca Valsabbina participated as the sole subscriber, also handling the structuring and full-service management of the deal, the company noted.

RedFish LongTerm Capital - untraded - announced on Monday that its subsidiary RFLTC1, along with other investors in a club deal, signed a binding preliminary agreement to acquire the entire share capital of Stanhome Società Benefit. The transaction involves the purchase of 100% of Stanhome by the vehicle Le Fonti Industrial, the BidCo for the deal, for a closing price of EUR21.2 million, including a EUR4.5 million vendor loan to be paid by Stanhome by April 30, 2031.

In New York last night, the Dow Jones fell 1.1%, the Nasdaq shed 0.2%, and the S&P 500 dropped 0.4%.

In Asia, the Hang Seng fell 0.8%. Markets in Shanghai and Tokyo were closed for holidays.

On the currency front, the euro is trading at USD1.1691 from USD1.1699 on Monday evening, while the pound is at USD1.3541 from USD1.3538 the previous night.

Among commodities, Brent is trading at USD113.09 per barrel from USD114.22 on Monday evening, while gold is valued at USD4,553.50 an ounce from USD4,532.40 last night.

Tuesday's economic calendar features a speech by ECB President Christine Lagarde at 1330 CEST, followed by Vice President De Guindos.

At 1330 CEST, attention shifts to the US with import-export data and the trade balance. US housing data are also expected.

By Maurizio Carta, Alliance News reporter

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