Traders on the sell side; Prysmian and Stellantis lag

(Alliance News) - The MIB closed in negative territory on Wednesday, snapping its recent recovery phase as trading floors adopted a more cautious stance ahead of the ECB interest rate decision and the subsequent remarks by Eurotower chief Christine Lagarde.

Market sentiment also remained weighed down by persistent geopolitical tensions in the Middle East, with operators monitoring developments following new US military actions against Iran.

Returning to monetary policy, the market adopted a prudent approach ahead of the Frankfurt meeting, with consensus continuing to price in a 25 basis point hike in benchmark rates.

On the liquidity front, excess reserves in the Eurosystem stood at approximately EUR2.226 trillion, little changed from EUR2.222 trillion the previous day.

In the latest weekly main refinancing operation (MRO), the ECB allotted EUR12.9 billion with a seven-day maturity. In the longer-term refinancing operation (LTRO) category, no amount was allocated.

The MIB closed down 0.5% at 50,029.17, the Mid-Cap ended slightly below par at 61,540.27, the Small-Cap rose 0.6% to 35,737.67, and Italy Growth finished in the green by 0.4% at 9,138.93.

The CAC 40 closed 0.5% lower and the DAX 40 ended down 1.0%, while the FTSE 100 - the sole gainer - closed up 0.3%.

In Piazza Affari, among blue chips, Prysmian shed 4.3%, following a 4.2% loss the previous day, with a final price around EUR136.30 per share.

Stellantis saw an identical 4.3% depreciation, bringing its price to EUR5.77. Notably, the company announced on Wednesday the European launch of the next-generation Dodge Charger, 'one of the most iconic American muscle cars', the company explained.

Banca Monte dei Paschi shed 0.6% to EUR10.27, after a three-session winning streak. Speaking on the sidelines of a Senate hearing, Economy Minister Giancarlo Giorgetti reaffirmed the Government's intention to exit the capital of Rocca Salimbeni, while emphasizing that any decision must respect public debt protection criteria, Ansa reported on Wednesday.

'We have a stake, I have said it and I reiterate it, from which we must obviously exit, as with all banks', the minister stated, noting that the State also maintains holdings in other credit institutions. Giorgetti explained that the choice of any potential buyer will be guided by the economic value of the transaction for the public coffers.

On the gainers' side, Lottomatica rose 2.6%. The company continues its buyback program, most recently announcing on Wednesday that it repurchased 180,890 of its own ordinary shares between June 1 and 5, for a total value of approximately EUR4.7 million.

Eni - up 1.6% - announced on Wednesday that it repurchased 4.3 million of its own ordinary shares between June 1 and 5. The shares were bought at an average unit price of EUR23.1949, for a total value of approximately EUR100 million.

Leonardo - up 0.6% - announced on Wednesday that it has been selected by the European Commission to develop SCOPE, one of the two specialized operational satellites of the In-Space Operations and Services (ISOS) program, an initiative funded under Horizon Europe and implemented in collaboration with the European Space Agency.

In the mid-cap segment, Banco di Desio e della Brianza advanced well, marking its sixth consecutive session with a bullish candle, up 4.5%.

d'Amico International Shipping closed up 2.8% at EUR7.40 per share. According to Intesa Sanpaolo, the company continues to benefit from active fleet management, maintaining a 'buy' recommendation on the stock with a target price of EUR7.70.

Analyst Arianna Terazzi views the sale of the MR tanker High Tide, announced by the company for a consideration of USD28.5 million, positively.

Alerion Clean Power shed 0.9%. It is worth noting that the company announced on Tuesday that it has built and commissioned a new photovoltaic plant in Romania, located in the municipality of Răcari, with an installed capacity of approximately 51 MWp and an estimated total annual gross production of approximately 77 GWh at full capacity.

Salvatore Ferragamo left 0.5% on the floor at EUR9.31 per share. Citi confirmed its 'neutral' recommendation on the stock and raised the target price to EUR9.85 from EUR7.50. According to analyst Thomas Chauvet, the new strategic plan has helped revive brand momentum and lay the groundwork for a gradual recovery in profitability. The bank highlighted how retail channel growth at constant exchange rates accelerated from 4% in the third quarter of 2025 to 6% in the fourth quarter of 2025 and the first quarter of 2026, supported by cost discipline.

On the Small-Cap index, Tesmec pushed its price forward by 10% to EUR0.27 per share, after five bearish sessions.

SS Lazio gained 5.1%, following a 1.3% drop in the previous session, with the price around EUR1.64.

Zucchi shed 4.1%, bringing the price to EUR0.59 per share. The stock - which last paid a dividend in 2022 - now has a market capitalization of approximately EUR2.3 million, having lost over 25% since the beginning of 2026.

Eurotech retreated 0.8%, following a 4.8% loss in the previous session, with a final price of EUR1.30.

Among SMEs, ATON Green Storage closed down 9.0%, bringing the price to EUR0.43.

eVISO - up 2.0% - announced on Tuesday that eVISO LUZ Y GAS SA, a company incorporated in Galicia last April, has signed an agreement with a leading international reseller. The deal provides for the supply of both energy and sales support services for the Spanish market, with a direct contribution to the target of EUR500,000 in Gross Margin by 2027.

Rinascita Petino gained 1.4%, after two lower closes. The company announced on Wednesday the opening of a new Yamamay store in Monopoli, the seventh developed for the brand.

Casta Diva - down 1.3% - announced on Wednesday the signing of a strategic memorandum of understanding with Faalyat, a Bahraini group active in major events, entertainment, and content production. The agreement defines a framework for collaboration to explore joint opportunities in large-scale events, video productions, cultural activations, and intellectual property projects in Bahrain and other Gulf markets and Europe.

In New York, the Dow retreated 1.1%, the Nasdaq fell 1.2%, while the S&P 500 closed down 0.9%.

On the currency front, the euro changed hands at USD1.1554 from USD1.1553 on Tuesday evening, while the pound traded at USD1.3395 from USD1.3381 yesterday evening.

Among commodities, Brent traded at USD92.56 per barrel from USD90.83 per barrel on Tuesday evening, while gold was worth USD4,129.82 per ounce from USD4,268.60 per ounce at yesterday's close.

Thursday's macroeconomic calendar includes a three- and seven-year BTP auction from Italy at 1130 CEST.

At 1430 CEST, from the US, producer price inflation data and jobless claims will be released.

In the Piazza Affari corporate calendar, no major announcements are scheduled.

By Maurizio Carta, Alliance News reporter

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