European markets buoyant; Amplifon soars on the MIB

(Alliance News) - On Wednesday, major European bourses opened on a buoyant note as the spotlight returned to developments in the Middle East conflict.

Iranian Foreign Minister Abbas Araghchi met with his Chinese counterpart Wang Yi in Beijing for talks, according to the Chinese news agency Xinhua. Simultaneously, a reversal was noted from Trump, who suspended Operation Freedom in the Strait of Hormuz following 'progress' in negotiations with Tehran.

On the domestic front, solid quarterly results from major listed companies are supporting general momentum on the MIB, which gained 1.2% at the opening to reach 49,156.50.

The Mid-Cap rose by 1.5% to 58,876.83, the Small-Cap by 0.8% to 34,913.93, and Italy Growth by 0.2% to 8,886.26 points.

Other European markets were also in the green: the CAC 40 up 1.5%, the DAX 40 up 1.4%, and the FTSE 100 up 1.6%.

In Piazza Affari, Leonardo - up 3.2% - closed the first quarter of 2026 with an adjusted net profit of EUR184 million, a 60% increase compared to EUR115 million in the same period of 2025. Reported net profit, however, fell to EUR184 million from EUR396 million due to the extraordinary component accounted for in the comparative period.

Lottomatica, seeing buying interest of 4.4%, reported first-quarter results showing a profit of EUR69.3 million, a sharp increase from the EUR51.5 million recorded between January and March 2025. Revenue stood at EUR602.3 million, up 3.0% from EUR585.7 million in the first quarter of the previous year.

Inwit - up 0.7% - has initiated legal action against the termination of the master service agreement by Telecom Italia, which rose 1.1%. Inwit is seeking a precautionary suspension of the withdrawal effects from the court, which was scheduled for 2030. According to MF-Milano Finanza on Wednesday, 'the towerco reportedly filed the request for a precautionary measure last week to obtain a stay on the effects of the withdrawal from the MSA exercised by the operator led by CEO Pietro Labriola'.

Regarding banking consolidation, Milanese magistrates may soon reopen the investigation into the MPS-Mediobanca case. Francesco Gaetano Caltagirone, Delfin and EssilorLuxottica Chairman Francesco Milleri, and Montepaschi CEO Luigi Lovaglio are under investigation for alleged market manipulation and obstruction of supervisory activities.

Magistrates hypothesize an agreement between multiple parties in the privatization of MPS and the attempted takeover of Mediobanca, with the ultimate goal of influencing Generali. MPS shares are trading up 0.8%, while Mediobanca is up 1.2%.

Banco BPM CEO Giuseppe Castagna stated that the bank is closely monitoring consolidation opportunities in the sector, evaluating possible M&A transactions of both large and targeted scale, in a context that the group believes could offer further room for mergers. BPM is up 2.1%.

Amplifon - leading the index with gains of 11% at EUR11.08 - closed the first quarter of 2026 with an adjusted net profit of EUR44.4 million, up 6.7% from EUR41.6 million in the same period of 2025. Revenue reached EUR579.8 million, down 1.4% compared to EUR587.8 million in Q1 2025, but up 0.8% at constant exchange rates, supported by organic growth of 2.2%.

Eni, at the bottom of the basket, fell 2.3% to EUR23.42 per share.

On the Mid-Cap, Banco di Desio e della Brianza - up 3.0% - announced that, regarding the total voluntary tender offer for Solution Capital Management SIM Spa, it has completed the closing with a payment of EUR240,466.82 for the remaining 52,162 outstanding ordinary shares, representing 2.3% of the share capital.

Ariston Holding, down 0.1%, announced the transfer of 325,382 treasury shares to beneficiaries of the 2023 long-term incentive plan. Beneficiaries include Executive Chairman Paolo Merloni, who was allocated 17,830 ordinary shares, and CEO Maurizio Brusadelli, who received 103,678 ordinary shares.

Credito Emiliano - up 4.0% - reported a consolidated net profit of EUR139.5 million for the first quarter of 2026, compared to EUR229.3 million in 2025. The result represents a 2.9% increase from EUR135.6 million in the same period of 2025 when excluding the extraordinary component related to the sale of the merchant acquiring business.

Buying interest was also seen in MAIRE, which is trading up 3.2% at EUR16.46 per share.

Among small caps, Aeroporto Guglielmo Marconi di Bologna - in the green by 2.4% - announced that in April, despite geopolitical uncertainties, passenger numbers exceeded 1 million, a 2.5% increase over the same month in 2025.

Biesse - up 0.5% - approved the co-option of Stefano Porcellini as a director. In the same session, the board appointed Porcellini as Deputy Chief Executive Officer, in addition to his roles as Chief Financial Officer and Investor Relator.

Edison, flat at EUR2,19 per share, received an update from QatarEnergy regarding the ongoing force majeure affecting LNG supplies to the Adriatic LNG terminal. The communication concerns two additional LNG cargoes scheduled for delivery to Italy by early July, adding to the 10 cargoes already subject to previous notices.

Among SMEs, Next Geosolutions Europe - up 1.6% - announced the successful conclusion of the review for the investment program submitted under the 'development contract' instrument, managed by Invitalia on behalf of the Ministry of Enterprise and Made in Italy.

Specifically, Invitalia approved the development contract proposal, granting incentives in the form of a non-repayable grant for a maximum total amount of EUR9.4 million for an industrial investment project in Campania.

Più Medical signed a binding agreement to acquire 100% of the capital of Farmacia Formaggia in Milan for approximately EUR10.8 million. The estimated consideration, to be funded by the company's available resources, will be paid in several tranches. The stock is trading up 1.7%.

Lemon Sistemi, up 3.7%, signed a contract for the construction of a photovoltaic plant in Sicily featuring a Huawei electrochemical storage system, with an estimated total value of approximately EUR4.3 million.

The board of directors of Confivest, up 1.9%, confirmed Simone Manenti as CEO, renewing his powers for commercial, administrative, and financial management. Simultaneously, the board confirmed Simone Manenti in the role of Investor Relator Manager.

In New York, during the European evening, the Dow Jones gained 0.7% to 49,298.25 points, the Nasdaq grew 1.0% to 25,326.13, while the S&P 500 closed up 0.8% at 7,259.22.

In Asia, the Nikkei was closed for Constitution Day, the Hang Seng is in the green by 1.0% at 26,165.00, and the Shanghai Composite closed up 1.2% at 4,160.17.

On the currency front, the euro is trading at USD1.1730 from USD1.1706 on Tuesday evening, while the pound is at USD1.3592 from USD1.3564 yesterday evening.

Among commodities, Brent is trading at USD107.07 per barrel from USD110.44 on Tuesday evening, while gold is valued at USD4,674.89 per ounce from USD4,578.16 yesterday evening.

On Wednesday's economic calendar, Eurozone producer prices are expected at 1100 CEST.

At 1200 CEST, the focus shifts to US mortgage data.

Among Piazza Affari companies, results are expected from Ariston Holding, Banca Generali, BPER Banca, Campari, Fineco, Nexi, Poste Italiane, and Telecom Italia, among others.

By Michele Cirulli, Alliance News reporter

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