(Alliance News) – Major European markets closed in the red on Friday, in a day that once again saw record highs for gold and silver, buoyed by demand for safe-haven assets due to geopolitical tensions and, above all, trade friction between the US and China.
After analyses of two US regional banks, which revealed losses linked to fraudulent loans related to distressed real estate funds, the debate on US credit quality has reopened.
On the macro front, annual inflation in the Eurozone rose to 2.2% in September from 2.0% in August.
The MIB closed down 1.5% at 41,758.11 points, the Mid-Cap lost 0.7% to 56,391.02, the Small-Cap lost 1.5% to 36,256.90, and the Italy Growth was down 0.3% to 8,586.04 points.
Other European markets were also down, with the CAC 40 in Paris down 0.1%, the DAX 40 in Frankfurt down 1.8%, and the FTSE 100 in London down 0.9%.
Chris Beauchamp, Chief Market Analyst at IG, noted: “It looked like it was going to be another frantic Friday for the markets, with a regional banking crisis in the US looming on the horizon, but comments from President Trump lifted stocks off their lows once again.”
“Long-term market movements are still determined by marginal factors such as earnings and economic growth, but global financial markets are driven daily by fears of a trade war and comments from the White House,” he added.
“The last two Fridays have shown how this works in both directions, but at least this Friday seems to be ending on a more positive note,” Beauchamp concluded.
On the Milan Stock Exchange, only nine stocks were in the green, mainly utilities: Inwit and Campari rose 1.0%; Snam gained 0.4% and Italgas 0.5%.
On the banking front, the merger between BPER and Banco Popolare di Sondrio is entering its active phase, with the consolidation of 90 branches in central and northern Italy and the wait for the closing, which will have to be approved by the respective boards of directors. BPER shares fell 1.6%, while Banca Popolare di Sondrio shares fell 1.8%.
Banco BPM, down 1.6%, announced that it had successfully completed the issue of a EUR500 million European Green Bond Senior Non-Preferred, with a six-year maturity and an early redemption option in October 2030.
A2A, down 0.6%, launched a EUR 155 million bond issue on Thursday with a 5-year maturity, a coupon of 2.875% and private placement. This is the first bond issued in Italy in “blue” format.
Tension is growing between the Canadian government and Stellantis following the group’s decision to move production of the Jeep Compass from its Brampton plant in Ontario to one in Illinois.
Unipol has announced that it will launch a program to purchase Unipol Assicurazioni Spa shares by the company itself. As explained by the company in a statement, the program will involve a maximum of 2.1 million shares and a maximum value of EUR1 billion. The stock fell 1.4%.
Meanwhile, in Italy, consumption returned to growth in September, up 1.2%, as reported by Terna, up 0.8%.
Leonardo, which launched a buyback program for a maximum of 600,000 shares, occupied the bottom of the table with sales of 5.3%.
On the Mid-Cap, UEFA has launched proceedings against Juventus Football Club for a potential breach of the ‘Financial Fair Play’ parameters in the three-year period 2022/2023-2024/2025, as reported in the financial statements as of June 30, 2025. The stock fell 1.9%.
MFE-MediaForEurope signed a memorandum of understanding with Bavarian Prime Minister Markus Soeder, reiterating that Munich and Unterfoehring, home to ProSiebenSat.1, will remain the center of its activities in the German market. MFE A rose 0.5%, while MFE B fell 0.2%.
CIR, down 1.2%, announced that F.lli De Benedetti had sold 159,879 ordinary shares in CIR for a total value of approximately EUR106,000.
Pirelli, whose board is closely monitoring developments in trade tensions between China and the US, gained 2.6%.
Avio, on the other hand, plummeted, down 8.8%.
De’ Longhi performed well, with purchases up 4.1% to EUR 30.48 per share.
In the small-cap sector, Tessellis needs EUR 65 million to cover its financial requirements between October 2025 and October 2026. This is indicated in the group’s latest half-yearly report, in which Deloitte’s auditors report “significant doubts” about the company’s ability to continue as a going concern. The stock fell 5.9%.
Gabetti Property Solutions, which reported that it recorded over EUR 7.7 billion in corporate investments in Italy in the first nine months, up approximately 17% compared to September 30, 2024, fell 5.5%.
EPH continues its upward trend, gaining 38% to EUR0.15 per share. The company has accepted the binding offer submitted by RONA Limited Company. The transaction involves a total investment of EUR10 million in EPH’s share capital, divided into a EUR9.5 million aucap and EUR500,000 in cash.
Zest rose by 2.0%. Beewize, the worst performer of the day, fell by 6.1%.
Among SMEs, Xenia Hotellerie Solution announced that the closing of the acquisition of the Italica Turismo group had been completed, effective October 17. The price is EUR 6.5 million, and the stock rose 13% on the news.
On Thursday, Saccheria F.lli Franceschetti announced its results for the first nine months, closing with revenues of EUR 14.4 million, up 8.5% compared to EUR 13.3 million in the same period of 2024. The stock rose 3.6% to EUR 1.16 per share.
Sparks flew between Mare Engineering, down 2.1%, and Eles, down 1.8%. “Mare Group considers Eles a strategic asset for the country and has chosen to invest with an industrial, not speculative, perspective, aimed at enhancing its skills and restoring stability to its governance,” the company reiterated.
Good purchases on Nusco for 8.3% and sales for 9.1% on Markbass.
In New York, the Dow was down 0.1%, while the Nasdaq lost 0.3% and the S&P 500 fell 0.2%.
On the currency front, the euro traded at USD 1.1664 from USD 1.1676 at Thursday’s stock market close, while the pound traded at USD 1.3396 from USD 1.3430 at the last European close.
Among commodities, Brent crude traded at USD 60.90 per barrel, down from USD 62.19 per barrel at Thursday’s close, while gold was worth USD 4,244.05 per ounce, down from USD 4,272.32 per ounce last night.
On Monday’s economic calendar, at 0400 CEST, data on Chinese GDP and industrial production will be released.
At 1100 CEST, Eurozone construction output will be assessed, while at 1200 CEST the German Bundesbank’s monthly report is expected.
US industrial production data will be released at 1600 CEST.
On the Italian stock exchange, Destination Italia’s nine-month results are expected.
By Michele Cirulli, Alliance News Reporter
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