Yesterday, signs of a potential easing of the Strait of Hormuz blockade triggered a sharp retracement in crude prices, though oil has already resumed its climb today.
Investors are consequently shifting their focus toward the domestic landscape of quarterly earnings and corporate actions.
By approximately 9:30 CET, the FTSE Mib index was down 0.2%.
GENERALI (+2.1%) is in the spotlight after posting quarterly results this morning that beat expectations and confirming its year-end targets.
The automotive sector is performing well, with FERRARI up 2% and STELLANTIS gaining 0.9% on the day of its Capital Markets Day.
Conversely, banks are under pressure, with UNICREDIT and INTESA SANPAOLO shedding 1.6% and 1% respectively.
Buying interest continues for AVIO (+3.5%), while AEFFE is up 3.9%.
Among small caps, CAREL INDUSTRIES has tumbled 7%, moving toward the price of the Accelerated Bookbuild (ABB) concluded by Athena for a 5% stake at 30.10 euros per share.
PLC failed to open (indicated down 14%) after Lizard Renewables reached an agreement to acquire a controlling interest, a move that will trigger a mandatory tender offer aimed at delisting the company.
(Claudia Cristoferi, editing Antonella Cinelli)
