Indices and Stellantis bullish; focus on US-China

(Alliance News) - Major European stock exchanges opened higher on Thursday as market attention shifted to the two-day summit in Beijing between US President Donald Trump and Chinese President Xi Jinping, where discussions are expected to cover Taiwan, Iran, and artificial intelligence.

The MIB opened up 0.6% at 49,762.91, the Mid-Cap advanced 0.7% to 59,967.52, the Small-Cap rose 0.9% to 34,691.83, while the Italia Growth was in the green by 0.1% at 8,907.67.

In the UK, pressure on Prime Minister Keir Starmer continues to mount, with positive quarterly GDP data risking being 'too little too late', according to Susannah Streeter, Head of Investment Strategy at Wealth Club.

'Despite the outbreak of war in Iran hitting sentiment, portfolios, and generating deep uncertainty, the British economy has shown surprising resilience,' the analyst commented. 'Growth of 0.3% in March is certainly not exceptional, but it defies expectations, with the UK's solidity proving surprising. A contraction was expected. Instead, the massive services sector grew by 0.3%, while activity on construction sites continued to improve, with output increasing by 1.5%.'

However, 'the scale of the MP revolt and the prospect of a leadership challenge by Health Secretary Wes Streeting are dominating headlines and keeping investors on alert. UK government bond yields have fallen from the multi-decade highs of 5.13% reached earlier this week, but they are likely to remain volatile as maneuvering at Westminster remains the focus.'

London's FTSE 100 is fractionally in the green, the Paris CAC 40 is up 0.5%, while the Frankfurt DAX 40 is trading 1.1% higher.

On the MIB, Stellantis took the top spot with a 2.9% gain. BYD is looking to Europe to accelerate its industrial expansion and is reportedly considering the acquisition of underutilized plants, including sites linked to Stellantis.

This was reported by Bloomberg, citing an interview given on Wednesday by Stella Li, Executive Vice President of the Chinese group, on the sidelines of the Financial Times 'Future of the Car' conference in London.

STMicroelectronics followed, advancing 2.6%.

FinecoBank rose 0.6% after announcing on Wednesday that it had completed the placement of its Senior Preferred instrument issue for qualified investors, for a total amount of EUR500 million and a coupon for the first five years of 3.738%, compared to initial guidance of five-year Mid-swap rate + 110 basis points.

Hera - up 0.3% - announced on Wednesday that it closed the first quarter with revenues of EUR3.52 billion, down from EUR4.32 billion as of March 31, 2025. Net profit was EUR165.1 million for the period, compared to EUR163.8 million the previous year.

Snam shed 0.6%. The company announced on Wednesday that it recorded a net profit of EUR292 million in the first quarter of 2026, a 41% reduction compared to EUR491 million in the corresponding period of 2025. Adjusted net profit also showed a decline of 7.6%, falling to EUR375 million from EUR406 million in the first three months of the previous year.

On the Mid-Cap, WIIT outperformed with a 5.7% rise after announcing on Wednesday that the board approved the consolidated accounts as of March 31, closing the first quarter with an adjusted net profit of EUR4.1 million, substantially stable compared to EUR4.3 million in the same period of 2025.

During the period, the group recorded adjusted revenues of EUR41.4 million, a slight increase compared to EUR41.1 million in the first quarter of 2025.

NewPrinces advanced 0.9% after announcing on Thursday that it closed the first quarter of 2026 with a consolidated net loss of EUR22.6 million, an improvement over the loss of EUR34.8 million in the first quarter of 2025, on a like-for-like basis.

The group net result was negative at EUR24.2 million compared to a profit of EUR12.6 million in the same period of 2025.

The board of MFE-MediaForEurope - with A and B shares up 0.4% - approved the first-quarter 2026 accounts on Wednesday, which closed with a consolidated net loss of EUR26.1 million, an improvement over the Pro Forma loss of EUR41.3 million recorded in the corresponding period of the previous year.

Fiera Milano - up 2.75% - announced on Wednesday that it closed the first quarter with a net profit of EUR27.7 million, an improvement from the net loss of EUR3.2 million as of March 31, 2025. Revenues in the quarter were EUR126.4 million, up 98% from EUR63.7 million in the first quarter of last year.

The board of Rai Way - in the green by 1.4% - approved the first-quarter 2026 accounts on Wednesday, closing with a net profit of EUR21.6 million, down 4.3% compared to the same period in 2025. During the period, the company recorded core revenues of EUR71.9 million, up 2.6% year-on-year.

The board of Arnoldo Mondadori Editore - bearish at 0.3% - approved the first-quarter accounts, which closed with a net loss of EUR16.3 million, worsening from the loss of EUR13 million in the same period of 2025. Consolidated revenues stood at EUR170.9 million, up 3.9% compared to EUR164.4 million in the first quarter of 2025.

On the Small-Cap, Esprinet took the top of the list with a 10% rise. On Wednesday, it announced it closed the first quarter with a net profit of EUR2.8 million from EUR500,000 as of March 31, 2025.

Revenues in the quarter were EUR1.06 billion from EUR962.4 million in the same period of 2025.

Caleffi also performed well, rising 3.7% after announcing on Wednesday that it closed the first quarter with a turnover of EUR13.3 million from EUR13.9 million as of March 31, 2025.

The company also resolved to launch a new buyback program.

Centrale Del Latte D'Italia has not yet been traded. The company announced on Thursday that it closed the first quarter of 2026 with a net profit of EUR1.7 million, down 23% compared to EUR2.2 million in the first quarter of 2025.

Zest shed 0.8% after announcing on Wednesday that it closed the first quarter with revenues and other income of EUR2.0 million compared to EUR2.2 million as of March 31, 2025, with a reduction mainly due to the cessation of subsidiaries that generated negative margins.

EPH Invest rose 2.2% after announcing on Wednesday that it signed a binding term sheet for a strategic investment in Edron Srl, an Italian company active in the development of autonomous drones, underwater robotics, and advanced sensor technologies.

Immsi is not yet trading. On Wednesday, it announced it closed the first quarter with consolidated revenues at current exchange rates of EUR369.1 million from EUR385.2 million as of March 31, 2025. Net profit before minorities was EUR100,000 in the first quarter, from EUR1.4 million in the first quarter of 2025.

The board of B&C Speakers - in the red by 1.9% - approved the first-quarter 2026 accounts on Wednesday, which closed with a group net profit of EUR3.5 million, a slight decline compared to EUR3.7 million in the same period of 2025, in a context of reduced volumes but with substantially stable profitability.

Among SMEs, High Quality Food has not yet been traded. The company announced on Wednesday that it closed 2025 with a consolidated profit of EUR158,000 compared to EUR124,000 in 2024.

The board of Espe - suspended - approved the 2025 financial statements, which closed with a net profit of EUR7.8 million, up from EUR3.4 million the previous year, of which EUR7.1 million was attributable to the ESPE Group. The company also resolved to distribute a gross dividend of EUR0.30 per share, compared to EUR0.15 last year.

Pattern shed 6.0%. On Wednesday, it announced it closed the first quarter with revenues of EUR27.6 million from EUR23.1 million as of March 31, 2025, representing 19% growth.

Among Asian markets, the Nikkei shed 1.0%, the Hang Seng is fractionally in the red, and the Shanghai Composite ended 1.5% lower.

In New York, the Dow Jones gained 0.2%, the Nasdaq rose 0.1%, while the S&P 500 finished up 0.2%.

On the currency front, the euro changed hands at USD1.1712 from USD1.1714 on Wednesday evening, while the pound traded at USD1.3513 from USD1.3526 yesterday.

Among commodities, Brent traded at USD105.87 per barrel from USD106.80 per barrel on Wednesday evening, while gold was worth USD4,694.96 per ounce from USD4,698.53 per ounce at yesterday's close.

On Thursday afternoon's economic calendar, the US retail sales report and jobless claims data are expected at 1430 CEST. In the evening, at 2230 CEST, the Federal Reserve's weekly balance sheet will be released as it is every Thursday.

Among companies - amid numerous incoming results - there will be space for the quarterly reports of Acea, Cairo Communication, FILA, Salvatore Ferragamo, ERG, and Webuild.

By Chiara Bruschi, Alliance News reporter

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