(Alliance News) - European equities opened in positive territory, buoyed by a constructive tone as investors anticipate a new wave of earnings that could serve as a catalyst for further sector rotations.

The main benchmarks remain firmly in the green, signaling a market structure still supported by strong inflows and a pro-risk positioning.

From the US, a positive "surprise" in the labor market has significantly reduced the implied probability of a near-term rate cut by the Fed, repricing the curve and injecting a note of caution into global sentiment.

Attention now turns to Friday's CPI data, a key moment for calibrating policy expectations and redefining risk pricing across asset classes.

The Mib is currently up 0.7% at 46,843.90.

Among the secondary indices, last night the Mid-Cap rose 0.6% to 60,895.40, the Small-Cap gained 0.6% to 36,672.82, and Italy Growth advanced 0.1% to 8,726.09 points.

Other markets also showed mixed results, with the CAC 40 up 1.3%, the DAX 40 rising 0.9%, while the FTSE 100 edged up 0.2%.

On the Mib, Fincantieri stands out, rising 4.6% to EUR16.79 per share. Notably, JPMorgan Asset Management increased its short position on the stock to 0.60% from the previous 0.52%.

The board of Iveco Group — up 0.2% — on Thursday approved the 2025 accounts, closing with an adjusted net profit of EUR312 million, down from EUR520 million in 2024, with adjusted diluted earnings per share at EUR1.16 compared to EUR1.91 the previous year.

Consolidated revenues stood at EUR13.42 billion versus EUR14.41 billion in 2024. Net revenues from Industrial Activities totaled EUR13.12 billion compared to EUR14.064 billion, mainly penalized by lower volumes in Europe in the Truck and Powertrain segments and the negative impact of exchange rates.

UniCredit is up 1.7% at EUR75.89 per share. Notably, Barclays raised its target price to EUR83.50 from the previous EUR79.00 per share.

Stellantis is up 0.9%. According to Bloomberg, the group is considering exiting the US battery joint venture StarPlus Energy with Samsung SDI, as part of a strategy to reduce its exposure to electric vehicles and safeguard liquidity after write-downs of more than EUR22 billion.

The company is reportedly exploring several options, including selling its stake to third parties, though no final decision has been made. However, a potential exit could prove costly and take considerable time.

Lottomatica Group — up 0.5% — announced on Wednesday that it purchased 264,903 of its own ordinary shares between February 2 and 6, for a total consideration of EUR5.5 million.

In the Mid-Cap segment, Banca Generali — up 5.2% — announced on Wednesday that it closed fiscal 2025 with consolidated net profit rising to EUR445.8 million from EUR431.2 million, an increase of 3.4% year on year. The board of directors will propose a dividend distribution of EUR2.90 per share, totaling EUR338.9 million, corresponding to a 76% payout of consolidated profit.

If approved, the distribution will take place in two tranches: EUR2.20 per share in May 2026 and EUR0.70 per share in February 2027.

The board of Banca Ifis — up 2.2% — on Wednesday approved the 2025 accounts, closing with a preliminary consolidated net profit of EUR328 million, which includes the positive contribution of the bank and the effects of the first consolidation of illimity Bank from July 2025, which resulted in a loss of EUR77.0 million. The Ifis group alone reported a profit of EUR406 million. At the end of 2024, the full-year figure was EUR163.2 million.

Pirelli is also up 2.8% at EUR6.48, bringing its year-to-date gain to over 10%.

At the bottom of the list — among many decliners — Reply is down 1.5% at EUR92.65 per share.

On the Small-Cap, IMMSI is up 4.4% at EUR0.5650. On Thursday, it announced that its subsidiary Intermarine Spa has begun developing an innovative unmanned surface vehicle for the Italian Navy, designed with high modular capabilities to integrate various systems and sensors.

The marine drone will complement the Next Generation Minehunter units in clearing mined areas, seabed surveillance operations for the monitoring and protection of critical underwater infrastructure such as oil & gas pipelines and data networks, and in safeguarding cultural assets and the marine environment.

Softlab — not yet traded — announced it has signed a preliminary agreement to acquire the Consulting and Facility Management divisions of Synthesis3. The operation aims to strengthen its core business through the integration of complementary and high-tech activities, the company said in a statement.

Trevi Finanziaria Industriale — flat at EUR0.7170 — announced on Wednesday that, following the resignation of Antonio Maria Rinaldi, the board of directors has appointed CEO Giuseppe Caselli as the new chairman.

Bastogi, meanwhile, is down 2.6% at EUR1.10 per share, subject to profit taking after two sessions in which it gained over 20%.

Among SMEs, Braga Moro is up 3.6%, marking its third consecutive positive session.

Industrie Chimiche Forestali — up 0.3% — announced Thursday that it has begun discussions with Prowell Limited/Asia to develop new materials and global technical and organizational support for the footwear sector. The initiative aims to leverage technical expertise, production capacity, and knowledge of local markets in Europe and Asia, while maintaining operational autonomy in their respective territories.

Circle — not yet traded — announced Thursday that it has signed a contract with a leading Italian company in the logistics and transport sector worth approximately EUR120,000. The project is expected to last about six months.

Estrima is down 3.9% at EUR0.1120, after gaining 2.2% in the previous session.

In New York — during European evening hours — the Dow closed down 0.1%, the Nasdaq lost 0.2%, while the S&P 500 ended flat.

In Asia, the Nikkei closed just below flat, the Hang Seng lost 0.9%, while the Shanghai Composite gained 0.1%.

On the currency front, the euro is trading at USD1.1878 from USD1.1873 at Wednesday's European equity close, while the pound is trading at USD1.3635 from USD1.3648 last night.

Among commodities, Brent is trading at USD69.71 per barrel from USD69.98 per barrel last night, while gold is valued at USD5,063.78 an ounce from USD5,073.13 an ounce Wednesday night.

On Thursday's calendar, the Italian 3- and 7-year BPT auction is scheduled for 1110 CET.

At 1430 CET, US continuing jobless claims are due, and at 2230 CET, the Fed's balance sheet will be released.

At Piazza Affari, results are expected from AbitareIn, BasicNet, Cementir Holding, Elica, First Capital, Gefran, Iveco Group, and Svas Biosana.

By Maurizio Carta, Alliance News reporter

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