Mib Slows Down at 46,500; UniCredit Leads Trading Volumes

(Alliance News) - On Tuesday, the Mib moved lower, settling around 46,500 points and halting the upward trend seen over the previous two sessions. On the Milan exchange, trading value exceeded one billion euros, with UniCredit leading in traded volumes.

The slowdown in buying comes amid rising trade tensions, following the implementation of the new 10% global tariff announced by President Donald Trump, who warned of possible further increases for countries that "play with trade agreements."

The EU has thus suspended the ratification of the agreement with Washington, while India has also postponed scheduled talks with the USA.

On the monetary policy front, markets are pricing in a 98% probability that the ECB will keep rates unchanged in March, while US futures currently indicate a positive opening.

The Mib is down 0.4% at 46,520.53 points, the Mid-Cap is up 0.2% at 59,633.21, the Small-Cap gains 0.3% at 36,015.57, and Italy Growth is fractionally in the green at 8,737.53 points.

The CAC 40 is moving just above parity, the DAX 40 is down 0.1%, while the FTSE 100 retreats by 0.2%.

In New York, futures indicate the Dow Jones up 0.1%, the S&P rising 0.2%, while the Nasdaq is marking a 0.3% gain in pre-market trading.

On Piazza Affari, Ferrari is performing well, topping the segment with a 2.2% rise to EUR310.70 after two sessions closing in negative territory.

Stellantis is also up 2.1% at EUR6.60 per share, following a 1.2% drop the previous day. According to data provided by ACEA on Tuesday, Stellantis sales increased in January in the EU, Iceland, Norway, Switzerland, and the UK. This result runs counter to the performance of the broader automotive market in the reference area, which saw a 3.9% decline in registrations.

Enel is also up by 1.5%. Notably, Barclays has raised its price target on the stock to EUR11.00 from EUR10.00.

Tenaris—up 1.3%—announced it has decided to conclude the second tranche of its buyback plan announced last May. As previously reported by the company, Tenaris had signed a buyback contract with a leading financial institution for the execution of the second USD600 million tranche of its share repurchase program. Since the beginning of the tranche, the company has acquired 29.3 million of its own ordinary shares, investing USD583.6 million.

UniCredit—down 2.2% with nearly EUR120 million in traded value—on Monday approved its annual financial statements and consolidated financial statements as of December 31, with a cash dividend distribution of EUR2.57 billion, equivalent to EUR1.72 per share. UniCredit's net result amounts to EUR8.12 billion, while at the consolidated level it reaches EUR10.9 billion. The approval took place during the board meeting, ahead of the shareholders' meeting scheduled for March 31.

In the secondary segment, Carel Industries stands out, rising 5.7% to EUR23.10 per share after a 1.1% loss the previous day.

Avio advances 3.9% to EUR36.20 per share. Notably, on Friday, US fund PDT Partners increased its short position on the aerospace group, raising it from 0.51% to 0.60% of the share capital.

Voleon Capital has also strengthened its bearish position on the stock, increasing its short from 1.00% to 1.15%.

Juventus Football Club—in the green by 0.8%—announced it closed the first half of 2025-2026 with a loss of EUR2.5 million compared to a net profit of EUR16.9 million in the same period last year. First-half revenues amounted to EUR260.6 million, down from EUR291.6 million in the first six months of 2024-2025.

BFF Bank loses ground, down 4.0%, with losses since the beginning of the year exceeding 60%.

In the Small-Cap segment, SS Lazio pushes its price up by 5.1%, marking its third consecutive bullish session.

Eurogroup Lamination rises 3.6% following a 0.5% gain on Monday evening. The stock—which is estimated on the MarketScreener platform with a 2025 P/E of 19x—has lost more than 55% of its market cap since the start of the year.

The Italian Sea Group falls 6.0% to EUR2.36 per share, continuing its downward trend with the last five sessions closing more than 43% in the red.

Beewize also drops 6.0%, after a 2.5% gain in the previous session.

Among SMEs, Datrix rises 6.1%, marking its third consecutive bullish session.

Friends climbs 4.1% to EUR1.41 per share after a flat session the previous day.

Green Oleo—not yet traded—announced on Monday that it closed 2025 with a production value of EUR73.3 million, up 1.6% from EUR72.1 million as of December 31, 2024. Revenues fell by 2.1%, penalized by a decline in Italy and only partially offset by growth abroad.

Helyx Industries—in the green by 0.5%—announced Tuesday that it has reviewed preliminary consolidated data for fiscal year 2025, reporting revenues of EUR1.9 million, up 140% from EUR1.0 million in 2024, derived from sales of products and services from its three divisions: Hyris, Vytro, and Mytho. EBITDA was negative at EUR1.4 million, an improvement from the negative EUR2.7 million recorded in the previous year.

On the currency front, the euro is trading at USD1.1788 from USD1.1801 at Monday's close of European stock trading, while the pound is trading at USD1.3494 from USD1.3497 last night.

Among commodities, Brent is trading at USD71.28 per barrel from USD66.90 per barrel on Monday evening, while gold is valued at USD5,169.63 an ounce from USD5,202.46 an ounce last night.

Among the main events on Tuesday's economic calendar, at 1300 CET from the USA the ADP data is expected, while at 1410 CET Federal Reserve's Waller will give a speech, followed by Barkin at 2015 CET.

At 2130 CET, weekly oil inventory data will be published.

By Maurizio Carta, Alliance News Reporter

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