European markets set for lower open; Brent rises following attacks

(Alliance News) - On Tuesday, European stock markets are preparing to open in a climate of heightened geopolitical uncertainty following new US strikes against Iranian targets and threats from Tehran to halt nuclear negotiations.

Oil is rebounding above USD95 per barrel after a decline of over 7% on Monday, as the market once again fears potential disruptions in the Strait of Hormuz.

The resurgence in energy prices is refuelling inflationary pressures and supporting global bond yields.

Consequently, the FTSE MIB is called down 0.5% or approximately 225.8 points, after closing Monday up 1.4% at 50,220.35 points.

In Europe, London's FTSE 100 is expected to open 0.6% lower, Paris's CAC 40 is indicated down 0.3%, while Frankfurt's DAX 40 is anticipated to be in the red by 0.3%.

Returning to Milan, yesterday evening, the Mid-Cap advanced 1.6% to 62,379.55 points, the Small-Cap closed up 1.0% at 34,994.51 points, while Italy Growth gained 0.9% to 8,963.63 points.

On the MIB, among the few decliners yesterday evening was Eni, which posted a 1.1% loss following the drop in crude prices, after a 2.1% decline at Friday's close.

Nexi rallied 6.5%. As Francesco Bonazzi explains on Alliance News, 'The Treasury is shielding Nexi following rumors of an incoming bid from the US fund CVC, and the European paytech's stock is soaring on Piazza Affari. The same fate befell France's Worldline, which is currently undergoing a deep restructuring'.

The alarm bell rung in recent weeks - writes Bonazzi - did not go unnoticed at Via XX Settembre. Thus, the board of directors of CDP Equity met yesterday and approved the possibility of increasing its stake in Nexi to 29.9% (from the current 19.14%). Nexi's largest shareholder is currently the Hellman & Friedman fund with 22.2%, while the free float is notably high at 58.6%.

'The operation will be carried out via derivatives, with options to be exercised after obtaining the required authorizations, but there is also the possibility of direct market purchases', the columnist explains in his 'Affari in Piazza' section.

Avio surged 7.2% to EUR38.69 per share, closing as the top blue-chip performer. Intesa Sanpaolo confirmed its 'buy' recommendation and target price of EUR47.00 on Avio, in light of the production expansion announced by Lockheed Martin in the THAAD missile sector. Analyst Gabriele Gambarova highlights how the strengthening of production capacity in the US could create significant opportunities for the Italian group in the solid propellant motor market.

Buzzi - up 3.7% - announced on Monday that it repurchased 436,780 of its own ordinary shares between May 18 and 22. The shares were bought at an average unit price of EUR43.2825, for a total value of EUR18.9 million.

Intesa Sanpaolo closed 2.2% higher. Notably, on Monday the company announced that, through its IMI Corporate & Investment Banking division, it participated alongside a pool of international banks in a financing package exceeding GBP500 million for Eni CCUS Holding 'aimed at strengthening the Carbon Capture & Storage project platform'.

In the mid-cap segment, strength was seen in Revo Insurance, which gained 7.5% to EUR23.75 per share after two bearish sessions.

Brembo - up 2.0% - announced on Friday a joint venture with Ningbo Huaxiang Electronic Co., 'a key player in the automotive components industry in China', according to the press release. The two companies will collaborate on the localization of Sensify® in China, jointly contributing to the evolution of intelligent braking technology in the automotive sector.

Alerion Clean Power - up 1.8% - announced last week that it had approved a capital increase excluding pre-emptive rights for up to 10% of the share capital, for a maximum value of EUR135.6 million through the issuance of up to 5.4 million new ordinary shares at a subscription price of EUR25 per share. The operation will take place from May 26 to June 8.

MFE-MediaForEurope is preparing new legal moves in the dispute over the 'Pasapalabra' format following the recent ruling by the Spanish Supreme Court. The group explained that the Audiencia Provincial of Madrid quantified the amount awarded to ITV at approximately EUR74 million in the enforcement proceedings, but without considering the Supreme Court's decision regarding 'El Rosco', the program's final wheel.

Class A shares closed up 0.8%, while Class B shares gained 0.6%.

d'Amico, however, shed 1.4% to EUR8.06, marking its third consecutive bearish session.

On the Small-Cap index, EuroGroup Laminations showed strength, with the price advancing over 16% following a 1.6% gain in the previous session.

BasicNet - up 1.5% - announced on Monday that it repurchased 50,500 of its own ordinary shares between May 18 and 22, for a total value of approximately EUR347,000.

Trevi Finanziaria Industriale - up 4.0% - announced on Friday that it had approved consolidated results for the first quarter, which closed with revenue and profitability down compared to the same period last year but with strong growth in the order backlog and new contract acquisitions. The company specified that the financial report as of March 31 was approved exclusively in relation to the rights issue approved by the shareholders' meeting on May 13, 2026. In the future, the group will return to semi-annual financial reporting.

Among the minority of decliners, The Italian Sea Group fell 7.1%, its third bearish session.

Among SMEs, Ena gained over 12% after two bearish sessions, bringing the price to EUR0.68.

Grifal - up 9.2% - announced that its board of directors re-approved the financial statements as of December 31, 2025, and updated the industrial plan. The re-approval of the 2025 accounts and the 2026-2030 plan was deemed appropriate by Grifal 'in order to evaluate, based on prospects and foreseeable management evolution, the progress of ongoing discussions for the rescheduling of the company's financial debt'.

The company specifies that the 2025 consolidated financial data have not changed compared to what was communicated on March 26. Specifically, the group closed 2025 with a consolidated net loss of EUR3.1 million compared to a profit of EUR150,000 in 2024.

ESI - up 6.5% - announced on Monday the acquisition of 100% of ED Solar 3 Srl, a special purpose vehicle established for the construction and management of a 3 MWp photovoltaic plant in the Municipality of Anzio, in the province of Rome. The transaction also includes surface rights on approximately 4 hectares of land intended for the development of the plant.

Alfonsino - down 2.9% - announced on Monday that its subsidiary Rushers Srl has renewed its agreement with Just Eat Italy, continuing the strategic collaboration initiated between the parties in November 2025. The agreement concerns the strengthening of operational synergies in the on-demand delivery sector and is part of a context already active in 20 centers at the start date of the new contract, with a possible progressive extension to other areas over time.

Sicily by Car fell 0.7% to EUR2.95 per share. Banca Akros confirmed its 'buy' recommendation and target price of EUR5.00 on the stock, indicating a potential upside of 68% compared to the closing price of EUR2.97 on May 22. According to Davide Zappa, the 17% growth in the first four months of 2026 relates exclusively to the increase in rental revenues generated in Italy in the first quarter of 2026, a figure already communicated by the company on April 22.

Finanza.tech, meanwhile, dropped 9.6% after Friday evening's flat session, with a final price of EUR0.24 per share.

In New York, the stock market remained closed on Monday for Memorial Day.

In Asia, the Nikkei is down 0.1%, the Hang Seng is up 0.1%, while the Shanghai Composite is down 0.6%.

On the currency front, the euro is trading at USD1.1629 from USD1.1645 on Monday evening, while the pound is trading at USD1.3477 from USD1.3501 on Monday evening.

Among commodities, Brent is trading at USD95.43 per barrel from USD97.60 on Monday evening, while gold is worth USD4,529.52 an ounce from USD4,572.45 at Monday's close.

On Tuesday's economic calendar, house price index data is due from the US at 1500 CEST, while M2 money supply data will be released at 1900 CEST.

On the Piazza Affari corporate calendar, results are expected from ATON Green Storage, expert.ai, Mondo TV, Rocket Sharing Company, and Talea Group.

By Antonio Di Giorgio, Alliance News reporter

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