(Alliance News) - European stock markets closed the session in positive territory, bolstered by improving macro sentiment and a more relaxed energy backdrop.
The MIB finished higher, closing just below the 49,700 mark after hitting an all-time high of 49,772.51 during the session, a move consistent with risk appetite for cyclical assets.
The primary driver was the decline in oil prices, favored by the easing of geopolitical tensions in the Middle East following indications of a progressive U.S. military disengagement and the reopening of a potential diplomatic channel with Tehran. Reduced risk in the Strait of Hormuz helped compress energy volatility, with immediate effects on European asset classes.
On the macro front, implied rates continued to recalibrate, with money markets scaling back expectations for aggressive ECB hikes, though still pricing in approximately two interventions by year-end. Recent statements from Governing Council members, highlighting persistent inflationary pressures, nevertheless limited optimism regarding the easing cycle, keeping the curve anchored to a restrictive policy regime for longer.
The MIB closed up 2.4% at 49,696.75 points, the Mid-Cap rose 3.1% to 59,833.28, the Small-Cap ended up 2.0% at 35,328.98, and Italy Growth closed up 0.5% at 8,914.42 points.
The CAC 40 closed 2.9% ahead, while the DAX 40 and the FTSE 100 advanced 2.2%.
On the MIB, Amplifon closed up over 12%. The company announced on Tuesday that it ended the first quarter of 2026 with an adjusted net profit of EUR44.4 million, up 6.7% compared to EUR41.6 million in the same period of 2025. On a reported basis, profit attributable to the group fell to EUR10.5 million from EUR32.9 million, impacted by non-recurring charges.
Revenue stood at 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%.
Lottomatica also gained over 12% to EUR27.67 per share. Kepler Cheuvreux confirmed its 'buy' recommendation on the stock and set a target price of EUR30.00, in line with its March report, representing a growth potential of 22.2%.
UniCredit added 4.6%. The German government is reportedly evaluating new options to obstruct UniCredit's attempted takeover of Commerzbank as political tension grows around the operation led by CEO Andrea Orcel.
According to Reuters, some members of the Berlin executive are examining the possibility of increasing the public stake in the German institution through KfW, the state development bank, in an attempt to create a large enough share to prevent a full takeover. Germany already holds about 12% of Commerzbank, a stake inherited from the bailout during the global financial crisis, and the hypothesis under study is to further increase the holding to build a blocking minority.
Leonardo - up 5.0% - announced on Wednesday that it closed the first quarter of 2026 with an adjusted net result of EUR184 million, up 60% compared to EUR115 million in the same period of 2025, while the reported net result fell to EUR184 million from EUR396 million due to the extraordinary component accounted for in the comparative period.
Revenue increased to EUR4.45 billion from EUR4.16 billion, marking an increase of 6.9%, or 10% net of the negative exchange rate effect resulting from the conversion of U.S. operations, primarily Leonardo DRS.
On the Mid-Cap, Webuild closed with a bullish candle of 6.1%, marking its seventh consecutive session with a bullish trend.
Technogym - up 10% - announced on Wednesday that it closed the first quarter with double-digit revenue growth, supported by positive performance across all segments and geographic areas.
Specifically, consolidated revenue stood at EUR237 million, up 10% compared to the same period in 2025. At constant exchange rates, growth was 12.6%.
Sanlorenzo finished up 2.9%. Notably, Boldhaven Management raised its short position on the stock to 2.10% from 2.00%.
The board of Ariston Holding - down 2.5% - announced on Wednesday that it closed the first quarter of 2026 with net revenue of EUR656 million, up 1.2% compared to the same period in 2025 and substantially stable on an organic basis. Performance was supported by growth in Europe, partially offsetting negative pressures from the Middle East, in line with the expected trajectory for the year.
On the Small-Cap, Datalogic gained 4.2%, its fourth consecutive bullish candle.
Industrie De Nora closed 16% ahead. The company announced its first-quarter results on Wednesday, showing an adjusted net profit of EUR19.1 million, up 1.0% compared to EUR18.9 million recorded between January and March 2025. Revenue fell 11% to EUR178.5 million from EUR200.4 million in the first three months of 2025.
Trevi Finanziaria Industriale gained 5.4%, its fourth session in positive territory.
Tesmec rose 3.4%, securing a five-session winning streak.
Among SMEs, Lindbergh closed up over 10%, rebounding after three bearish sessions.
Lemon Sistemi - up 8.1% - announced on Tuesday that it signed a contract for the construction of a photovoltaic plant in Sicily with a Huawei electrochemical storage system, with a total estimated value of approximately EUR4.3 million. The project includes a unique Huawei storage system, the company noted, 'marking a further dimensional leap for Lemon Sistemi'.
Arterra Bioscience - down 1.0% - announced on Wednesday that turnover in the first quarter of the year was EUR1.6 million, up 22% compared to EUR1.3 million recorded from January to March 2025.
Next Geosolutions Europe - up 1.6% - announced on Wednesday the successful conclusion of the investigation related to the investment program presented under the 'development contract' instrument, managed by Invitalia on behalf of the Ministry of Enterprises and Made in Italy. Specifically, Invitalia approved the development contract proposal, granting incentives in the form of a non-repayable contribution for a maximum total amount of EUR9.4 million for an industrial investment project in Campania.
The investment program involves eligible expenses totaling approximately EUR23.5 million, of which approximately EUR17.7 million had already been incurred and paid as of March 2026.
In New York, the Dow Jones is advancing 1.2%, the Nasdaq is up 1.5%, while the S&P 500 is advancing 1.1%.
On the currency front, the euro is trading at USD1.1754 from USD1.1706 on Tuesday evening, while the pound is trading at USD1.3598 from USD1.3564 yesterday evening.
Among commodities, Brent is trading at USD101.71 per barrel from USD110.44 per barrel on Tuesday evening, while gold is worth USD4,693.70 per ounce from USD4,578.16 per ounce yesterday evening.
On Thursday's economic calendar, German factory orders are due at 0800 CEST. At 0930 CEST, attention turns to construction PMIs for the Eurozone, Germany, France, and Italy.
At 1100 CEST, the focus will be on Eurozone retail sales.
At 1430 CEST, attention shifts to U.S. jobless claims, while the Federal Reserve's weekly balance sheet will be available at 2230 CEST.
Among Piazza Affari companies, results are expected from several firms, including Ascopiave, Azimut, Monte dei Paschi di Siena, Mediobanca, Brembo, and Terna.
By Maurizio Carta, Alliance News reporter
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