Constructive bias on price lists; buying on Moncler

(Alliance News) - On Wednesday, the main European stock exchanges opened higher, extending the positive momentum of recent sessions and marking the third consecutive session of gains. The short-term picture highlights a constructive bias, but with a still tactical positioning, in the absence of full visibility on the evolution of geopolitical risk and the trajectory of global monetary policy.

From a technical point of view, the market is benefiting from an improvement in macro sentiment, supported by a downward repricing of energy risk. The decline in oil - in fact - following Iraq's agreement to resume exports through the Turkish port of Ceyhan, contributed to compressing inflation expectations in the short term and reducing risk premiums on European asset classes.

At the same time, a selective return of flow towards growth stocks is observed, particularly in the segment linked to artificial intelligence, which continues to serve as a dominant thematic driver and support for valuations, especially in the technological and industrial sectors with a high innovation component.

However, investor attention remains high on policy events. The Federal Reserve decision expected later today represents a potential catalyst for cross-asset volatility, in a context where the market appears positioned for a pause in the restrictive cycle but sensitive to any revision in the narrative.

The Mib is thus marking an increase of 0.7% to 45,196.87 points. Among the minor lists, the Mid-Cap advances by 0.9% to 53,952.18, the Small-Cap advances by 0.4% to 32,724.46, while Italy Growth advances by 0.3% to 8,347.87.

The other stock exchanges are also in the black, the CAC 40 in Paris marks a gain of 0.8%, the DAX 40 in Frankfurt advances by 0.6%, while the FTSE 100 in London advances by 0.2%.

On the Mib, Moncler is advancing well, rising 3.0% to EUR54.20 per share, after a 0.3% loss in the previous session.

Amplifon instead advances by 1.9% to EUR8.21 per share. It should be noted that S&P confirmed the "BB+" rating with a Stable outlook for the stock.

Poste Italiane - in the green by 0.8% - announced on Tuesday that it had approved the partial demerger project of PostePay, an operation already announced on the occasion of the presentation of the Strategy Update 2026 and aimed at creating a new "Financial Hub" within the BancoPosta Assets. In detail, the operation involves the integration of the payments business with Financial Services through the transfer to Poste Italiane of a compendium of assets and legal relationships, which includes the PostePay IMEL Destined Assets and some shareholdings held by the same company, entirely controlled by the group.

Enel - down 0.7% - announced on Tuesday that it had purchased 13.3 million treasury shares at a weighted average price of EUR9.3459 each and for a total value of EUR124 million.

Among the bearish stocks is also Eni, which is yielding 1.7% to EUR22.94 per share, also subject to profit taking after a bullish streak.

On the cadet segment, strength on Pharmanutra, which proceeds with double-digit gains over 10% and a new price at EUR74.90 per share. The company announced on Tuesday that it closed 2025 with a net profit of EUR20.0 million, an increase of 20% compared to EUR16.6 million in 2024. The board of directors will propose a dividend equal to EUR1.20 per share, an increase of 20% compared to EUR1.00 in the previous year.

Interpump is instead gaining 2.5%, raising its head after a bearish streak.

Danieli & C is also advancing well, rising 2.3% to EUR58.00 per share, also reversing course after a downward trend.

Rai Way - in the green by 0.8% - on Tuesday announced, together with Rai - Radio Televisione Italiana, that it had presented the Hyperscale Data Center project that Rai Way will build in Pomezia, near Rome. The initiative, which recently received the building permit, is part of the strategic diversification and evolution of digital infrastructure plan implemented by Rai Way, in line with the process of transforming Rai into a Digital Media Company.

On the Small-Cap, Braga Moro brings the price forward by 2.6%, following the 5.4% gain of the previous session.

Fope instead advances by 2.0%, after the flat session of the eve and with the price in the EUR40.20 area.

I Grandi Viaggi - not yet traded - on Tuesday announced that it closed the first quarter with a loss of EUR2.2 million from one equal to EUR2.1 million in the same period of 2025. Revenues in the period stood at EUR9.2 million from the first quarter of 2025, when they amounted to EUR8.4 million.

Ecomembrane fell 5.9% to EUR4.94 per share, after a 2.8% loss in the previous session. The stock - which did not pay a dividend last year - has increased its market cap value by approximately 28% since the beginning of the year.

Among SMEs, Farmacosmo advances by 6.4% to EUR0.51, heading for its third session in positive balance.

Solutions Capital Management SIM - not yet traded - announced on Tuesday that it had approved the draft financial statements as of December 31, 2025, closing the year with a net profit of EUR80,888, a decrease compared to EUR415,468 in 2024.

Officina Stellare - down 1.7% - announced on Tuesday that it had signed a contract with the Spanish Institute of Photonic Sciences ICFO for a total value of approximately EUR1.8 million, entirely the responsibility of the company and with an expected duration of 12 months, while delivery of the station is expected in just 6 months.

Innovatec instead yields 2.7%, after 0.2% on Tuesday evening and with the price in the EUR0.20 area.

In New York - in the European evening - the Dow Jones gained 0.1%, the Nasdaq advanced by 0.5%, while the S&P 500 concluded up 0.3%.

Among Asian markets, the Nikkei gained 2.9%, the Shanghai Composite gained 0.3%, while the Hang Seng finished the race posting a gain of 0.6%.

On the currency front, the euro changes hands at USD1.1525 from USD1.1529 on Tuesday evening, while the pound trades at USD1.3345 from USD1.3347 last night.

Among commodities, Brent trades at USD102.91 per barrel from USD101.55 per barrel yesterday, while gold is worth USD4,990.07 per ounce from USD5,002.53 per ounce last night.

On Wednesday's economic calendar, the US mortgage report will be released at 1200 CET and at 1330 CET it is the turn of the US producer price index.

The FOMC decision with interest rate projections is scheduled for 1900 CET, followed by the traditional press conference at 1930 CET.

Results from Brembo, Eni and five other companies are expected at Piazza Affari.

By Maurizio Carta, Alliance News reporter

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