European markets weak as STM and UniCredit weigh on MIB

(Alliance News) - On Thursday, in the wake of Trump's remarks regarding the conflict in Iran, stock markets opened lower, paring the previous session's gains.

Although significant developments were expected, the tycoon's address to the nation offered no further elements toward de-escalation; instead, it led to mutual threats between Washington and Tehran.

According to Moody's, Italy's economic outlook appears closely tied to international tensions, as "a prolonged conflict, including severe and lasting disruptions in the Strait of Hormuz, would lead to a sustained and significant increase in oil and gas prices, with negative effects on inflation and Italy's economic growth prospects" and, consequently, on the assessments of rating agencies.

The MIB opened trading down 1.2% at 45,181.66 points, the Mid-Cap fell 1.4% to 54,120.89, the Small-Cap dropped 0.8% to 32,878.22, and the Italia Growth slipped 0.2% to 8,356.97 points.

Other European markets were also in the red: Paris's CAC 40 fell 1.0%, Frankfurt's DAX 40 dropped 1.5%, and London's FTSE 100 shed 0.3%.

At Piazza Affari, Luigi Lovaglio expressed "confidence" in being confirmed as CEO of Monte dei Paschi di Siena - down 2.0% - pointing to achieved results and the EUR16 billion in dividends projected over five years. Despite being excluded from the board's list and stripped of executive powers, the banker is running with the list backed by the Tortora family's Plt Holding.

UniCredit - down 3.3% - announced that it broadly complies with the minimum requirements for own funds and eligible liabilities set by resolution authorities, following the decision by the Single Resolution Board and the communication received from the Bank of Italy.

Intesa Sanpaolo, down 2.2%, announced that its IMI Corporate & Investment Banking division participated, alongside a pool of international banks, in a financing of approximately USD290 million for a battery energy storage project located in Boulder City, Nevada.

Utilities started in positive territory, led by Eni, up 3.2% at EUR24.435 per share, which signed a new 15-year EUR500 million loan with the European Investment Bank for the conversion of units at the Eni refinery in Sannazzaro de' Burgondi, in the province of Pavia, into a biorefinery.

A2A gained 0.5%, Snam 0.7%, Terna 0.4%, and Italgas 0.4%.

At the open, the sharpest declines were also seen in Avio and STMicroelectronics, down 2.5% and 3.9% respectively.

On the Mid-Cap, Italmobiliare, which opened 1.5% lower, is renewing its governance and bylaws to target an international dimension. The Pesenti family's holding company is proposing a shift to a one-tier model, abolishing the board of statutory auditors in favor of an internal control committee within the board of directors.

MAIRE announced that Nextchem, through its subsidiary KT Tech, has been awarded a contract for preliminary engineering activities and the supply of proprietary equipment for a SAF plant under development in North Sumatra province, Indonesia. The stock began trading down 1.7%.

BFF Bank shed 4.7% to EUR1.552 per share after Moody's downgraded all ratings and assessments by one notch, placing them under review for a possible further downgrade, including the adjusted BCA.

Carel Industries, among the day's six gainers, rose 3.0% to EUR23.70 per share.

On the Small-Cap, Jacopo De Francisco, CEO of CF+, outlined the future to Milano Finanza on Thursday following the acquisition of 80.75% of Banca Sistema, which fell 0.8%: "We are approaching the merger in the best possible way. We closed 2025 with a profit of EUR24 million and brought equity to EUR177 million, which we will further strengthen with a capital increase in May."

Biesse, down 2.8%, announced that Pierre La Tour has resigned from his positions as Chief Financial Officer, Manager in charge of preparing corporate accounting documents, and Investor Relator, to pursue a new professional path.

TXT e-Solutions reported that the investment agreement for the acquisition of 100% of the share capital of FasThink has been signed. The stock fell 0.8%. FasThink's results will be consolidated into TXT's Smart Solutions division starting April 1, 2026.

Caltagirone Editore gained 6.0% at the open to EUR1.865 per share, while Zucchi rose 5.3% to EUR0.64 per share.

Among SMEs, Casta Diva Group - up 2.2% - announced that the board has resolved to grant an exploratory mandate to a leading advisor, DC Advisory, with the aim of identifying potential strategic partners suitable to support the company in its growth path.

SolidWorld announced that it closed the 2025 financial year with a widened loss of EUR2.7 million from EUR1.8 million recorded as of December 31, 2024. Sales revenues were EUR57.5 million, substantially stable compared to EUR57.8 million in the previous year. The stock was untraded.

The board of Tecno approved the accounts, showing a net profit of EUR800,000, down from EUR1.1 million recorded in the 2024 pro-forma.

The value of production stood at EUR32.2 million, up 22% compared to EUR26.4 million in the 2024 pro-forma. The stock gained 1.5% to EUR3.025 per share.

In New York, during the European evening, the Dow Jones closed up 0.5% at 46,565.74 points, the Nasdaq gained 1.2% to 21,804.95, and the S&P 500 finished 0.7% higher at 6,575.32.

In Asia, the Nikkei shed 2.4% to 52,449 points, the Shanghai Composite closed down 0.7% at 3,919.29, and the Hang Seng fell 1.8% to 4,673.59 points.

On the currency front, the euro changed hands at USD1.1523 from USD1.1610 yesterday evening, while the pound traded at USD1.3206 from USD1.3324 on Wednesday evening.

Among commodities, Brent traded at USD107.82 per barrel from USD101.87 per barrel yesterday evening, while gold was worth USD4,633.09 an ounce from USD4,784.85 an ounce yesterday evening.

On Thursday's macroeconomic calendar, Italian retail sales are expected at 1100 CEST, while Italian car registrations will be released at 1345 CEST.

In the afternoon, at 1430 CEST in the US, initial jobless claims are on the agenda along with the trade balance.

At 1700 CEST in the US, a speech by the Federal Reserve's Logan is scheduled, while the day concludes at 1900 CEST, also in the US, with the rig count data published by Baker Hughes.

Among Piazza Affari companies, results from Digital Value and Inwit are expected.

By Michele Cirulli, Alliance News reporter

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