Selling pressure prevails; Saipem-Eni tandem performs well

(Alliance News) - The Mib lost ground in the 44,300-point area on Friday, marking its third consecutive decline and approaching three-month lows, as Middle East tensions continue with no signs of easing and rising oil prices fuel inflation concerns.

In the Eurozone, industrial production decreased by 1.2% year-on-year, missing expectations of a 1.4% increase and marking the first annual decline in a year.

On the monetary policy front, rising energy costs have led markets to price in two rate hikes by the European Central Bank later this year, a sharp shift from last month's forecasts. The Bank of England, meanwhile, is expected to keep rates unchanged for longer, with markets assigning an approximately 80% probability to a 25-basis-point hike by year-end.

Consequently, the FTSE Mib is posting a loss of 0.2% at 44,352.77 points.

Among the smaller indices, the Mid-Cap fell 0.6% to 54,011.23, the Small-Cap dropped 1.0% to 33,689.49, while Italy Growth moved slightly below parity at 8,380.15.

London's FTSE 100 shed 0.3%, Paris's CAC 40 fell 0.6%, while Frankfurt's DAX 40 retreated 0.5%.

In Milan, among blue chips, Brunello Cucinelli is shedding 1.8% at EUR70.78 per share, bringing its year-to-date loss to 28%.

Telecom Italia, meanwhile, is showing a bearish candle of 1.6% after a 2.0% gain the previous day.

Stellantis - bearish at 1.0% - is considering potential deals with Chinese automakers that could invest in struggling European assets, allowing the group to focus more investment in the USA.

According to sources cited by Bloomberg, executives met with Xiaomi and Xpeng to discuss options for reorganizing European operations, including the possible acquisition of stakes in Maserati or other brands. Also on the table is access to production capacity, as Chinese groups seek to strengthen their presence in Europe.

Among the few gainers is Saipem, which advanced 2.5% to EUR3.37 per share, rebounding after three bearish sessions.

The same trend followed for its parent company Eni, which rose 2.2% in its third consecutive bullish session. Notably, Bank of America raised its target price on the stock to EUR21.00 from EUR18.50.

On the mid-cap segment, strength was seen in Avio, which appreciated 6.2% to EUR35.90 per share. On Thursday, it approved accounts showing a net profit of EUR11.6 million, up 82% from the previous year. Net revenues stood at EUR541.7 million, up 23% year-on-year.

Reply advanced 3.2%, following a nearly 15% loss the previous day, despite solid results for 2025.

Safilo Group - down 0.5% - announced on Thursday that it closed 2025 with an adjusted net profit of EUR44.6 million, up from EUR34.2 million as of December 31, 2024. Group profit stood at EUR48.6 million from EUR22.3 million the previous year. EBITDA as of December 31 was EUR106.4 million from EUR79.8 million in 2024, while adjusted EBITDA amounted to EUR104.2 million from EUR93.0 million.

Ferretti - down 1.1% - stated on Thursday that its board of directors believes the takeover bid launched for the company by KKCG Maritime, a firm owned by Czech billionaire Karel Komarek, is neither fair nor reasonable for independent shareholders and recommended not to accept. The luxury yacht manufacturer, listed on Euronext Milan and the Hong Kong Stock Exchange, explained that the board approved the issuer's response document required by Italian regulations and Hong Kong takeover rules.

Zignago Vetro closed the list shedding 6.0%, after nearly halving its dividend, profit, and EBITDA in its 2025 results.

On the Small-Cap, Tesmec is shedding 8.5%, marking its third consecutive bearish candle. The stock has posted an aggregate loss of about 18% over the last five sessions.

Orsero retreated 7.8% to EUR17.28 per share, heading for its third bearish session if confirmed at the close.

Gefran - up 0.5% - announced on Thursday that it approved the draft financial statements for December 31, 2025, reporting revenues of EUR139 million, a 4.8% increase compared to EUR132.6 million in 2024. Net profit was EUR9.9 million, an 11% decrease of EUR1.3 million compared to EUR11.1 million in December 2024.

Enervit - up 1.0% - announced on Thursday that it closed 2025 with a net profit of EUR4.3 million from EUR4.1 million as of December 31, 2024. The company proposed a dividend distribution of EUR0.215 per share, up from EUR0.16 paid in 2024. Revenues were EUR103.2 million from EUR96.7 million in 2024.

TXT e-solutions - up 4.0% - announced that the board approved the 2025 results, closing with a net profit of EUR25.3 million, a 59% increase compared to the EUR15.9 million recorded in 2024. Adjusted net profit stood at EUR34.5 million, up 72% from EUR20.0 million the previous year.

Among SMEs, Helyx Industries is stepping back over 10%, toward its third consecutive bearish candle, with a loss of 18% over the last five sessions.

Ecomembrane rose 6.0% to EUR4.24 per share following a 0.5% gain yesterday evening. On the MarketScreener platform - based on a single analyst's valuation - the stock is indicated with a target price of EUR6.90, showing a potential upside of over 72%.

Farmacosmo advanced well, gaining 5.9% after a 3.0% contraction the previous day.

Impianti advanced 3.1%, following a nearly 15% rise the previous day, with results expected later today.

Circle - up 2.0% - announced on Thursday that it closed 2025 with a production value of EUR25.1 million from EUR14.6 million as of December 31, 2024. EBITDA stood at EUR6.1 million from EUR3.0 million the previous year, with a margin of 24% from 21% in 2024.

In New York - in pre-market trading - the Dow advanced 0.2%, as did the Nasdaq and the S&P 500.

On the currency front, the euro changed hands at USD1.1457 from USD1.1520 on Thursday, while the pound traded at USD1.3257 from USD1.3345 yesterday evening.

Among commodities, Brent traded at USD100.10 per barrel from USD99.16 per barrel on Thursday, while gold was worth USD5,087.64 an ounce from USD5,167.50 an ounce yesterday evening.

Friday's macroeconomic calendar includes the release of the Gross Domestic Product report and the PCE price index from the USA at 1330 CET.

At 1500 CET, the JOLTS job openings data is expected.

The day concludes at 1900 CET with Baker Hughes data on the total number of drilling rigs in the USA.

By Maurizio Carta, Alliance News reporter

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