(Alliance News) – European stock indices are expected to open mixed on Friday, according to IG futures, with Milan’s Piazza Affari forecast to hover around the flatline.

Yesterday, global equities ended slightly lower, while the US dollar strengthened against most major currencies in a subdued week, marked by the ongoing US government shutdown, which continues to deprive markets of fresh catalysts.

“In recent days, we’ve once again seen a market scenario where almost all assets move in unison: US and European equities, gold and silver rising, the dollar strengthening, and even crude oil supported. The market appears to remain in ‘buy everything’ mode, at least until a catalyst emerges to reverse the trend,” notes Zaid Barem, analyst at Your Mind Media.

The US government shutdown now looks set to enter its third week after the Senate on Thursday once again rejected a Republican funding bill, despite President Donald Trump’s efforts to increase pressure on the Democrats.

Since October 1, federal agencies have been without funding and public services remain at a standstill, with negotiations deadlocked and an almost daily sequence of failed votes to reopen operations.

The FTSE Mib is indicated up 0.1%, or 17.5 points, after closing Thursday down 1.6% at 42,791.60 points.

Across Europe, London’s FTSE 100 is seen down 0.1%, or 14.2 points; Paris’ CAC 40 is indicated up 0.1%, or 11.4 points; and Frankfurt’s DAX 40 is expected to rise 0.1%, or 11.0 points.

In Milan last night, the Mid-Cap index fell 0.3% to 58,254.75, the Small-Cap rose 0.3% to 37,848.94, and Italy Growth gained 0.3% to 8,853.14 points.

It was a day to forget for Ferrari on Piazza Affari, with shares tumbling more than 15% to EUR354.0 apiece. The Capital Markets Day proved negative for Elkann; as Francesco Bonazzi of Alliance News notes, it was “a market event that has rarely been so unlucky,” costing over EUR13 billion in market capitalization, which fell to EUR68 billion from EUR81 billion on Wednesday night. “It was the guidance and revenue figures that disappointed many investors.”

Azimut Holding posted a positive net inflow of EUR1.9 billion in September, including EUR1.2 billion in managed solutions, bringing the year-to-date total to EUR15.3 billion. The stock rose 0.6%.

Buzzi maintained the lead, up 5.1% to EUR49.42 per share.

Ascopiave sold its 3% stake in Hera Comm to Hera–up 0.7%–for a total of EUR55.0 million. Ascopiave shares slipped 0.2%.

Eight days after Milanese bankers visited Siena, Monte dei Paschi di Siena–down 0.7%–executives were in Piazzetta Cuccia yesterday, following the OPAS that led Monte to hold 86% of Mediobanca, which fell 1.1%. The integration plan will last one year.

Prysmian closed down 1.5%, despite Goldman raising its price target to EUR99.00 from EUR90.00.

Recordati dropped 2.7%.

DiaSorin ended among the laggards, down 1.5%, alongside Moncler, off 2.0%, and Leonardo, down 1.3%.

On the Mid-Cap, Banca Ifis completed an STS securitization of receivables worth approximately EUR610.0 million, aimed at funding its subsidiary Banca Credifarma. The stock increased 0.2%.

Fincantieri–up 0.8%–announced that Ramazel, a group company, has signed a contract with Jan De Nul, the Belgian global leader in maritime and offshore engineering, to supply mission-critical equipment for a newbuild vessel.

LU-VE–down 1.0%–reported Thursday that in the first nine months of the year, product sales reached EUR144.7 million, a 3.4% increase from September 30, 2024.

According to press reports, Ferretti–down 0.4%–finds itself caught between a potential corporate restructuring and tensions between Chinese shareholder Weichai and CEO Alberto Galassi. Some Gulf sovereign funds are said to have shown interest in the group, but Weichai does not appear willing to exit.

A twist in the sale of the 600,000 delivery points required by the Antitrust for Italgas–up 1.3%–after acquiring 2i Rete Gas: Acea–up 1.2%–reportedly did not submit binding offers for the Atems of interest.

Cementir Holding posted a strong 10% gain, while Moltiply Group closed the session down 4.1%.

On the Small-Cap, Eems Italia–flat at EUR0.1650–announced that Francesco La Fauci, independent director and chairman of the management control committee, has resigned for personal reasons.

Bastogi, which hit a 52-week high at EUR0.958 per share at the close yesterday, ended down 2.9%.

Netweek, flat at EUR0.0380, reported that the shareholders’ meeting appointed Iana Permiakova and Fabio Del Corno as board members, both co-opted in July.

Gefran, which announced Thursday that director Luigi Franceschetti sold 10,000 ordinary shares of the company, closed up 0.8%.

Beewize closed down 0.9% after a session at the top, while among the worst performers were Ratti, down 4.2%, and Seri Industrial, off 4.1%.

Among SMEs, Mare Group, which dropped 4.4%, launched a takeover bid for 100% of Eles, which fell 0.4%.

Siav–up 2.9%–completed the placement of a EUR2 million bond, fully subscribed by Banca Valsabbina, which acted as sole investor and took on the main roles related to the issuance and management of the bond.

Italian Wine Brands, up 3.0%, through subsidiaries IWB Italia and Giordano Vini, signed a binding offer with the Caffo group, known for Amaro del Capo, to sell the Valle Talloria business unit in Diano d’Alba, including the industrial hub and related activities.

Double-digit gains were recorded by Edgelab, up 14%, and International Care Company, up 12%.

Mevim slumped to the bottom, down 10% to EUR0.245 per share.

On Wall Street Thursday evening, the Dow closed down 0.5% at 46,358.42, the Nasdaq slipped 0.1% to 23,024.63, and the S&P 500 lost 0.3% to 6,735.11.

In Asia, the Nikkei is down 1.0%, the Shanghai Composite is off 0.7%, and the Hang Seng is down 1.4%.

On the currency front, the euro is trading at USD1.1574, down from USD1.1581 at Thursday’s equity close, while the pound is changing hands at USD1.3307, down from USD1.3333 last night.

In commodities, Brent crude is trading at USD65.01 per barrel, down from USD66.07 at yesterday’s close, while gold is valued at USD3,971.95 an ounce, down from USD4,023.90 an ounce last night.

Friday’s economic calendar features Italian industrial production data at 1000 CEST and a 12-month BOT auction at 1110 CEST.

At 1200 CEST, the Ecofin meeting is scheduled, while from 1430 CEST in the US, data on wages, average hourly earnings, and payrolls will be released.

At 1900 CEST, also in the US, Baker Hughes data on the total number of drilling rigs will be published.

No significant announcements are expected from Piazza Affari.

By Antonio Di Giorgio, Alliance News Reporter

Comments and questions: redazione@alliancenews.com

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