(Alliance News) - The MIB trended lower on Thursday in a session marked by high intraday volatility and a progressive deterioration in sentiment during the final stages, pivoting back into negative territory.

The movement reflects a market environment still dominated by geopolitical factors and a pronounced sensitivity to macroeconomic signals.

On the geopolitical front, operators sought greater clarity regarding negotiation progress between the US and Iran, within a framework that remains uncertain despite the ceasefire between Israel and Lebanon. Persistent volatility in expectations over a possible deal has kept the risk premium elevated, contributing to a defensive rotation during the session's weaker phases.

In parallel, monetary policy expectations remain a central driver. The market has now almost fully priced in a 25-basis-point hike by the ECB at its June 11 meeting, with further increases throughout the year partially embedded in forward curves. This repricing reflects the combination of still-sticky inflation and persistent energy pressures linked to Middle East tensions.

Consequently, the MIB is currently marking a 0.2% decline to 49,950.85 points.

Other European markets lacked a unified direction, with the CAC 40 advancing 0.9%, the FTSE 100 shedding 0.5%, while the DAX 40 rose 0.5%.

Among the secondary indices, the Mid-Cap advanced fractionally to 62,051.81 points, the Small-Cap slipped 0.1% to 35,641.14 points, while Italy Growth moved into the red by 0.1% to 9,128.32 points.

On Piazza Affari, among blue chips, STMicroelectronics shed 5.7% after three bullish closing sessions.

Prysmian saw a 4.0% decline, with the price now at EUR174.95 per share, following a 0.3% loss the previous day.

Banca Monte dei Paschi di Siena - down 0.5% - announced on Thursday that it had completed the placement of a new 'Senior Preferred Unsecured' bond issue. The fixed-rate 3-year notes - maturing in 2029 - include a call option after 2 years, for a total amount of EUR500 million. The transaction recorded an order book of approximately EUR2 billion thanks to high interest from leading Italian and international institutional investors.

BPER Banca - up 0.4% - announced on Wednesday that Morningstar DBRS improved its outlook on the long-term issuer rating from stable to positive, confirming the 'BBB (high)' rating. The outlook upgrade and rating confirmation reflect the strength of the commercial network, adequate asset quality, solid profitability, and the bank's capital position, as well as progress made in the integration of Banca Popolare di Sondrio Spa, the rating agency stated.

Banco BPM - up 0.1% - announced on Thursday its decision to exercise the early redemption right for its 'EUR300 million Callable Subordinated Tier 2 Notes due 29 June 2031', issued in June 2021 and placed with institutional investors. The security will be called at par on June 29, 2026, and bondholders will receive accrued interest up to that date.

In the mid-cap segment, REVO Insurance advanced 3.1% to EUR23.00 per share, following a 1.6% gain in the previous session. The stock - which paid a dividend of EUR0.27 in May - has seen its market cap increase by over 22% since the beginning of the year.

BFF Bank pushed its price up by 2.5% to EUR2.66 per share, rebounding after three bearish sessions.

Solid buying was also seen on Ariston Holding, which marked a 0.7% gain to EUR3.32 per share, marking its third consecutive bullish session.

MAIRE - bullish with a 2.3% gain - announced on Thursday that its subsidiary Tecnimont was awarded additional works worth approximately USD900 million. These relate to a large-scale onshore project previously awarded and announced on May 20. The additional works are aimed at supporting the optimization of existing Oil & Gas plants.

At the bottom of the list, Pirelli advanced 0.5% to EUR6.16, following a 1.8% loss the previous day. The company - with a market cap of just under EUR6.7 billion - stated on Thursday that the reports in the note released by Grizzly Research are untrue, reiterating that the allegations made against the group are entirely unfounded.

The company specified, among other things, that it does not produce tires for military purposes, a fact already known and long communicated to the relevant Italian authorities.

On the Small-Cap index, Olidata advanced 9.5%. The stock - which shows a loss of over 28% in 2026 - appreciated following the previous day's gain of 8.4%.

CY4Gate - up 4.6% - announced on Thursday that it had been awarded a three-year contract worth approximately EUR9.0 million with a leading European institutional client for the supply of technologies and evolutionary activities in the field of Decision Intelligence.

TXT e-solutions - up 2.6% - continues its buyback plan. Most recently, the company announced on Wednesday that it had purchased 2,990 treasury shares between May 18 and 20, for a total value of approximately EUR104,000.

Conversely, Tesmec retreated 8.8% to EUR0.2525. The stock - which shows a gain of over 57% in 2026 - lost ground following the previous day's bearish candle of minus 4.8%.

Beewize shed 7.8% to EUR0.35 per share after a 1.1% gain in the previous session.

Among SMEs, Eprcomunicazione advanced 7.8%, bringing the price to EUR1.32 per share, following a flat session the day before.

Circle - down 1.6% - announced on Wednesday the signing of two contracts totaling approximately EUR250,000 for the evolution of digital systems supporting port rail intermodality. The agreements concern development activities and management services within a co-financed project, with particular reference to increasing Extended Port Community System functionalities and strengthening digital tools for port and intermodal rail management.

Com.Tel - down 2.4% - approved the acquisition of 52% of ATS Assistance Technical Service for EUR3.9 million and the purchase of the remaining 40% of Novanext, of which it already holds 60%, accelerating the group's growth and consolidation path.

Impianti retreated 8.9%, following a 2.2% gain in the previous session.

In New York, during the European evening, the Dow fell 1.2%, the Nasdaq shed 0.9%, while the S&P 500 closed down 0.7%.

On the currency front, the euro changed hands at USD1.1604 from USD1.1605 on Wednesday evening, while the pound traded at USD1.3420 from USD1.3434 yesterday evening.

Among commodities, Brent traded at USD96.00 per barrel from USD97.94 on Wednesday evening, while gold was worth USD4,471.06 per ounce from USD4,441.45 at yesterday's close.

On Thursday's economic calendar, focus shifts to the US at 1430 CEST for jobless claims, alongside a scheduled speech by the FOMC's Barkin.

By Maurizio Carta, Alliance News reporter

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