(Alliance News) – Thursday is set to bring a mixed and lackluster start for European stock exchanges, according to IG futures data, with Frankfurt expected to be the most robust market on the continent and London seen as the weakest ahead of the Bank of England’s meeting.
On Wednesday, the day’s focus was the meeting between Russian President Putin and Steve Witkoff, special envoy of U.S. President Trump. The Kremlin described the talks as positive, while Trump is aiming for a three-way summit with Putin and Zelensky.
Meanwhile, the U.S. President announced plans to impose a 100% tariff on imported semiconductors, although no implementation date has been specified.
On Thursday, Taipei reported that Taiwan Semiconductor Manufacturing will be exempt from the tariff, thanks to its production facilities in the U.S.
Today, investors are turning their attention to the Bank of England, which is expected to cut interest rates by 25 basis points. Focus will also be on the central bank’s macroeconomic projections and the anticipated split vote within the committee.
The FTSE Mib is indicated up by 0.2%, or 97.5 points, after closing Wednesday with a 0.7% gain at 41,009.73 points.
Across Europe, London’s FTSE 100 is seen down by 0.1%, or 6.6 points, Paris’s CAC 40 is expected to rise by 0.1%, or 5.5 points, and Frankfurt’s DAX 40 is projected to advance by 0.3%, or 68.0 points.
Among the minor indices, last night the Mid-Cap gained 0.1% to 55,749.64, the Small-Cap rose 0.1% to 32,545.48, and the Italy Growth index ended up 0.1% at 8,306.85 points.
On the Mib – led by the banking sector – the day’s top performer was Monte dei Paschi di Siena, which closed up 5.0% at €7.858 per share.
The bank reported half-year results showing group net operating income of €936 million, up from €897 million in the first half of 2024.
Banco BPM posted a record net profit of €1.21 billion, up 62% year-on-year, driven by the integration of Anima and €97.4 million in dividends from MPS. While CEO Castagna noted that the banking consolidation story is still in its early stages, the stock gained 2.2%.
BPER also reported record results, achieving its highest-ever half-year performance with net profit up 30% year-on-year. The stock closed up 3.2%.
Fitch withdrew its rating on Stellantis – up 0.7% – for commercial reasons, lowering the outlook from Stable to Negative but confirming the long-term ‘BBB’ rating. As noted by Milano Finanza, the downgrade reflects concerns about the sustainability of the group’s turnaround plan.
Assicurazioni Generali posted positive results with net profit rising 5%, lifting the stock by 2.1%.
The “Lion of Trieste” sent a response to Mediobanca – up 4.0% – containing further details regarding the voluntary public offer for all shares of Banca Generali, which rose 2.6%, with a particular focus on defining a potential future industrial relationship between the Generali and Mediobanca groups.
After its results, Interpump confirmed its 2025 revenue and profitability forecasts, with the stock advancing 3.4% to €37.24 per share.
Ferrari, following Tuesday’s rally, was at the bottom of the index, falling 2.5%.
On the Mid-Cap, Banco Desio Brianza gained 5.0% to €7.19 per share after reporting sound results and sharply improved indicators compared to the first half of 2024.
BFF Bank followed suit, posting adjusted net profit of €75.3 million, up from €71.0 million in the same period of 2024. The stock rose 4.6%.
On Wednesday, Webuild announced that Italy’s Interministerial Committee for Economic Planning and Sustainable Development (CIPESS) had officially approved the final design for the Strait of Messina bridge, which will connect Sicily and Calabria.
Webuild, leading the Eurolink consortium as “General Contractor,” secured a contract worth €10.6 billion. The stock closed down 0.5%.
Lottomatica, which bought back €6.9 million in ordinary shares, fell 0.4%.
Credem posted a 1.8% gain after closing the first half of the year with rising net profit but shrinking margins.
At the bottom of the index was Garofalo Health Care, down 2.7% to €4.775 per share.
On the Small-Cap, FILA’s declining first-half earnings and revenue led to a 4.2% drop, with shares at €8.36 each.
SIT returned to profit after losses of €4.7 million in the same period of 2024, estimating tariffs will have negligible impact. The outlook boosted the stock by 19% to €1.425 per share.
Softlab also saw strong buying, ending the session up 19%.
Tesmec, up 11%, reduced losses in the first half and reported sharply higher revenue.
Bringing up the rear were Bestbe Holding, down 11%; Piquadro, down 5.5%, with consolidated revenue of €36.8 million, up 2.0% from €36.1 million a year earlier.
Among SMEs, Otofarma made its debut on the Italian stock exchange after an IPO that raised over €10.0 million: the launch was successful, with shares up 13% to €6.10 each.
EdiliziAcrobatica reported consolidated first-half revenue of €80.5 million, up 14% from €70.6 million in the first half of 2024. The stock rose 2.1%.
Innovatec and Cofle also performed well, up 8.4% and 10%, respectively.
On Wednesday, Talea Group announced that Borsa Italiana had temporarily suspended trading in its ordinary shares, pending the appointment of a new Euronext Growth Advisor.
ICOP, which together with Eteria secured a contract to expand the A4 motorway for over €560 million, closed up 2.6%.
Farmacosmo slipped 0.2% to €0.49 per share, while Dedem ended the day down 7.1% to €4.18 per share.
In New York on Wednesday evening, the Dow closed up 0.2%, the Nasdaq ended 1.2% higher, and the S&P 500 advanced 0.7%.
In Asia, the Nikkei is up 0.6%, the Shanghai Composite is up 0.1%, and the Hang Seng is advancing 0.6%.
On the currency front, the euro is trading at USD1.1671, up from USD1.1634 at Wednesday’s close, while the pound is at USD1.3372 from USD1.3332 last night.
Among commodities, Brent crude is trading at USD67.33 per barrel from USD68.45 at the previous close, while gold is valued at USD3,448.42 from USD3,376.275 per ounce last night.
On Thursday’s economic calendar, France’s import and export data is due at 0845 CEST.
At 1000 CEST, the European Central Bank releases its monthly report, and at 1330 CEST, the Bank of England will deliver its UK inflation statement.
From 1430 CEST, U.S. labor market data will be analyzed, including jobless claims and labor costs.
At 1515 CEST, Bank of England Governor Bailey is scheduled to speak, while from 1730 CEST, the U.S. Treasury will auction 4- and 8-week bills.
From Milan, half-year results are expected from eight companies, including GVS, AbitareIn, TXT e-Solutions, and Technoprobe.
By Antonio Di Giorgio, Alliance News Reporter
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