(Alliance News) - On Thursday, following the Federal Reserve's decision to leave interest rates unchanged, major European stock exchanges closed trading with mixed results.

As tensions between the USA and Iran intensify and demand for safe-haven assets rises, the ECB's NEER climbed to a record high around 131.73.

On the macro front, January saw a significant improvement in economic sentiment in both the EU and the eurozone. The Economic Sentiment Indicator rose by 1.9 points in the EU, reaching 99.2, while in the eurozone it increased by 2.2 points to 99.4, approaching the long-term average set at 100.

Thus, the Mib closed down 0.1% at 45,075.60, the Mid-Cap slipped 0.5% to 60,277.63, the Small-Cap fell 0.8% to 36,934.56, and the Italy Growth index posted a loss of 0.7% at 8,778.49.

The CAC 40 hovered around flat at 8,071 points, the DAX 40 dropped 2.1%, and the FTSE gained 0.2%.

"Microsoft's rout," noted Chris Beauchamp of IG, "saw shares fall to their lowest levels since May, with the drop dragging valuations back to those seen around Liberation Day volatility. Earnings sank a Nasdaq 100 rebound that had looked set to prompt a rotation into tech stocks, while precious metals are delivering a momentum lesson to traders: what works one way can work the other, as the rush to the dollar on Iran fears causes a drastic reduction in positioning."

On the Milan Stock Exchange, DiaSorin, up 1.0%, received De Novo authorization from the US Food and Drug Administration for the first fully automated diagnostic test for the hepatitis delta virus on the LIAISON XL immunodiagnostic system.

STMicroelectronics, sharply down 5.8% to EUR23.525 per share, approved fourth-quarter 2025 results, reporting a net loss of USD30 million, compared to a profit of USD341 million in the fourth quarter of 2024, hit by one-off tax charges of USD163 million.

2026 could be a key year both for the MPS-Mediobanca dossier and for Generali's industrial plan, with the latter up 0.2%. This is also why the financial community increasingly expects continuity at the top, with Philippe Donnet and Andrea Sironi likely to be confirmed at least in the medium term.

At this stage, the priority is to clarify the future of Montepaschi, up 0.2%, between governance and the industrial plan—developments that will inevitably affect Mediobanca, which rose 1.7% and is Montepaschi's main shareholder. Only once the situation in Siena is settled will it be possible to assess any effects on Trieste.

Telecom Italia fell 4.0% to EUR0.5658 per share.

On the Mid-Cap, Sesa completed the closing of the sale to TeamSystem of its business unit related to the sales agency for TeamSystem software solutions. The deal generates a positive impact of about EUR8.0 million on net profit and consolidated net financial position. The stock was down 0.9%.

Webuild, down 2.4%, is ready to deploy the refurbished Tunnel Boring Machine that will excavate the 7 km tunnel for Lot 2 of the Line 15 West of the Grand Paris Express, a project worth a total of EUR1.38 billion.

Banca Sella announced it will complete the integration of Hype via a merger by incorporation expected by the end of March 2026: the deal involves Banca Sella acquiring the 50% stake in Hype held by illimity Bank—part of the Banca Ifis Group, flat at EUR27.18—and the remaining 50% held by parent company Banca Sella Holding.

Alerion Clean Power Spa announced that the public offering of its green bonds closed early after reaching the offer amount subject to the increase option, equal to EUR100 million. The stock rose 0.6%.

CIR, up 1.2%, finalized the acquisition of the 40.23% stake in KOS held by F2i Healthcare, thus completing the deal announced with the binding agreement signed on November 19, 2025.

Brembo, up 3.3%, closed 2025 with preliminary consolidated revenues of EUR3.70 billion, down 1.6% at constant exchange rates compared to EUR3.84 billion in 2024.

On the Small-Cap, Bestbe Holding, with no trades, resolved to send a preliminary and non-binding expression of interest for a possible acquisition in the energy sector.

Aedes finalized the terms of its rights issue for up to EUR5 million. Specifically, the board approved the issuance of up to 96.0 million new ordinary shares.

Class Editori posted a decline of 8.7% to EUR0.1315 per share; GPI gained 4.1% to EUR18.46 per share.

Among SMEs, Friends, up 0.8%, announced it had reviewed the preliminary closing estimate of the main consolidated economic and financial indicators as of December 31, 2025, for PMG Italia Spa, the company subject to the binding agreement signed on December 22, 2025.

SG Co announced Thursday that its 51%-owned subsidiary Geotag Srl finalized the acquisition of 100% of Waymedia. Waymedia posted revenues of EUR2.2 million and Ebitda of EUR844,000 as of December 31, 2024.

Gismondi 1754—up 11% to EUR1.505—closed 2025 with total sales of EUR10.4 million, down from EUR12.0 million as of December 31, 2024. In the fourth quarter, total sales stood at EUR3.1 million, up from EUR2.4 million in the same period last year.

SolidWorld Group announced Thursday that the boards of Bio3DModel and Bio3DPrinting have reviewed and approved the "reverse" merger plan for the incorporation of both companies, aiming to complete the merger process from April 1. The stock was up 1.2%.

Redelfi, down 6.7%, signed a term sheet with the WRM group for the creation of a joint venture specializing in the development of data center projects in Italy.

In New York, the Dow Jones fell 0.3%, the Nasdaq 2.0%, and the S&P500 1.1%.

On the currency front, the euro changed hands at USD1.1936 from USD1.1933 at Wednesday's European equity close, while the pound traded at USD1.3778 from USD1.3775 last night.

Among commodities, Brent traded at USD70.87 per barrel from USD68.10 per barrel on Wednesday, while gold was worth USD5,295.34 an ounce from USD5,285.10 an ounce last night.

On Friday's economic calendar, at 0730 CET French GDP data is due, followed by the producer price index at 0845 CET. Spanish GDP is expected at 0900 CET, with Italian and German GDP at 1000 CET.

At 1100 CET, Italy's monthly unemployment rate will be analyzed, followed at 1200 CET by the country's producer price index.

The German consumer price index is expected at 1400 CET, and at 1430 CET, Canadian GDP and the US producer price index will follow.

On the Milan Stock Exchange, results are expected from Convergenze, Emak, Soges, among others.

By Michele Cirulli, Alliance News Reporter

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