European futures point to higher open

(Alliance News) - European equity markets are expected to open in positive territory on Wednesday, as traders await April industrial production data from Italy and look ahead to tomorrow's ECB interest rate decision, where the first hike since 2023 is widely anticipated.

According to IG futures, the FTSE MIB is expected to open up 0.7% or 337.5 points, after closing Tuesday 0.1% higher at 50,262.76 points.

The CAC 40 in Paris is called up 0.4% or 34.8 points, Frankfurt's DAX 40 is expected to rise 0.1% or 65.5 points, while the FTSE 100 in London is seen gaining 0.2% or 19.3 points.

Among Milan's secondary indices on Tuesday evening, the Mid-Cap fell 0.4% to 61,550.15 points, the Small-Cap dropped 0.4% to 35,520.01 points, and Italy Growth retreated 0.7% to 9,105.27 points.

In macroeconomic news, China's consumer price index rose 1.2% year-on-year in May, matching the April figure but coming in below the 1.3% consensus forecast cited by FXStreet.

In Japan, the preliminary producer price index rose 0.9% month-on-month in May, slowing from a revised 2.8% increase in April. The latest figure exceeded the 0.5% growth forecast cited by FXStreet.

Back in Milan, STMicroelectronics was among the few laggards on the MIB on Tuesday, shedding 5.9% after a 4.0% gain in the previous session. Notably, D. E. Shaw & Co. reduced its short position in the stock on Monday to 0.48% from 0.64%.

Unipol performed well, finishing at the top of the index with a 4.7% bullish candle at EUR22.84 per share, after hitting a 52-week high of EUR23.19. The stock benefited from an agreement with Intesa to acquire 635 branches and the historic MPS brand - should Intesa's bid succeed - to merge them with BPER, in which Unipol holds a majority stake.

BPER shares advanced 2.9%, while Intesa gained 0.9%.

On the same matter, the Turin-based banking group confirmed its determination to proceed with the acquisition of Monte dei Paschi di Siena. CEO Carlo Messina stated the deal could represent a strategic turning point not only for the group but also for its positioning in future European banking consolidation.

In an exclusive interview with Bloomberg TV on Tuesday, Messina called Intesa's offer 'the only real bid for MPS' and assured that the group would remain in the race even if competing proposals emerge. 'We will stay in the race for MPS even if there are other offers,' the banker declared.

Azimut Holding - up 0.6% - announced on Tuesday that it recorded net inflows of EUR1.5 billion in May, bringing the total for the first five months of 2026 to EUR7.6 billion, or 76% of its EUR10 billion annual target. Total assets rose to EUR155.7 billion, up approximately 11% from the end of 2025.

On the mid-cap segment, Cementir Holding rose 4.8%. The company announced Tuesday that its affiliate Aalborg Portland signed an agreement with the Danish Energy Agency for a carbon capture subsidy of approximately EUR117 per tonne, for up to 1.25 million tonnes annually starting in 2030.

The subsidy is worth up to approximately EUR146 million per year for 15 years, for a maximum cumulative total of about EUR2.2 billion, indexed to inflation.

Technoprobe fell 0.7% to EUR30.60 per share. Deutsche Bank Research reiterated its 'buy' rating and raised its price target to EUR42 from EUR35, believing the company is still in the early stages of a multi-year growth cycle linked to artificial intelligence.

According to analyst George Brown, the stock has already gained over 60% following the May 2026 results, supported by strong demand for Nvidia's AI GPUs. However, the primary growth driver is seen as the increasing complexity of testing required for next-generation semiconductors rather than just chip volumes.

Alerion Clean Power - down 9.4% - announced Monday the final results of its capital increase approved on May 21. Subscriptions were received for 63,607 of the 5.4 million new shares offered at EUR25.00 each, for a total value of EUR1.6 million. Settlement is scheduled for June 10.

On the Small-Cap index, Trevi Finanziaria Industriale gained 5.1% to EUR3.54. Alantra confirmed its 'buy' rating but reduced its price target to EUR4.50 from EUR10.00 following the terms of its EUR100 million capital increase. The new target still implies 44% upside potential.

Analysts noted that the operation marks the transition from the planning to the execution phase of the recapitalization.

Digital Bros rose 4.3% to EUR11.24. The stock - which has not paid a dividend since 2022 - turned higher after three sessions of bearish candles.

Centrale del Latte d'Italia closed 1.9% higher at EUR4.28. The company, which has a market capitalization of approximately EUR59 million, has seen its share price contract by about 12% since the start of the year.

Among SMEs, Com.Tel showed strength, rising 5.4% on high trading volume, with over 289,000 shares changing hands compared to a three-month daily average of approximately 62,000.

Mare Engineering Group - up 1.5% - announced an investment in the startup Nido, active in autonomous unmanned systems and AI. An initial EUR50,000 investment will grant it a 20% stake.

Alfonsino - down 3.4% - announced Tuesday the launch of its nationwide table booking service and an agreement with Yo Agents, an Italian sales community connecting companies with a network of over 2,000 agents and ambassadors.

In New York on Tuesday, the Dow closed up 0.2% at 50,872.11, while the Nasdaq fell 1.0% to 25,678.82 and the S&P 500 dropped 0.3% to 7,386.65.

In Asia, the Hang Seng is currently down 0.7%, the Shanghai Composite is 0.6% lower, and the Nikkei has slumped 2.1%.

In currency markets, the euro is trading at USD1.1555 from USD1.1553 on Tuesday evening, while the pound is at USD1.3394 from USD1.3381 yesterday.

In commodities, Brent crude is trading at USD91.25 per barrel from USD90.83 on Tuesday evening, while gold is priced at USD4,233.84 per ounce from USD4,268.60 at yesterday's close.

Wednesday's macroeconomic calendar features Italian April industrial production data at 1000 CEST.

At 1110 CEST, Italy will hold an auction for 12-month BOT bills.

From the US, the mortgage market report is due at 1300 CEST.

At 1430 CEST, the May consumer price index will be released.

At 1900 CEST, the US will hold an auction for 10-year Treasury Notes.

No major corporate announcements are scheduled.

By Claudia Cavaliere, Alliance News reporter

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