(Alliance News) – On Friday, major European markets opened trading around the flatline, marked by caution.
The week of central bank decisions concluded with Japan raising interest rates to 0.75%, reaching the highest level since 1995.
EU leaders have reached an agreement to grant Ukraine a EUR90 billion loan to fill widening budget gaps, but failed to reach consensus on using frozen Russian assets to source the funds.
The Mib is up 0.1% at 44,521.82 points, the Mid-Cap sees gains of 0.1% at 58,507.97, the Small Cap contracts by 0.1% at 36,149.88, and Italy Growth is up 0.1% at 8,490.16.
The CAC 40 is flat at 8,150.94, the DAX 40 gains 0.1%, and the FTSE 100 is slightly positive at 9,841.70 points.
In Milan, Terna – up 0.3% – has signed an ESG-linked credit facility agreement with UniCredit Spa for a total amount of EUR300 million.
The credit line will have a total duration of five years, with an interest rate also linked to Terna’s performance on specific environmental, social, and governance indicators.
Enel is preparing to return to the debt market in 2026. The board meeting held Thursday approved the issuance of one or more non-convertible bond loans in the form of hybrid subordinated securities, potentially perpetual, for a maximum total amount of EUR2 billion. The stock is up 0.4% at EUR8.661 per share.
Additionally, S&P has upgraded the energy group’s outlook to “positive” from “stable,” while confirming its long-term debt rating at “BBB” and short-term debt rating at “A-2.”
On the banking M&A front, Banca Monte Paschi di Siena – up 1.1% – made the decision to launch a bid for Mediobanca – up 0.4% – independently, with the Ministry of Economy, as shareholder, taking note of the move.
This was reiterated by Minister Giancarlo Giorgetti during an urgent briefing to the Chamber, also ruling out any irregularities in the third tranche of the privatization.
Strong buying on Buzzi, up 2.1%, Telecom Italia – up 1.8% – and Saipem, advancing 1.5%.
On the Mid-Cap, Pirelli & C. – up 0.1% – announced the conversion of convertible bonds for EUR496.5 million, equal to 99.3% of the EUR500 million loan maturing December 22.
The conversion resulted in the issuance of 84.9 million new ordinary shares at a price of EUR5.8493 per share.
Safilo Group – down 0.5% – reported that, between December 15 and 18, the group purchased shares of Inspecs Group PLC equal to 25% of the company’s share capital, for a total consideration of about GBP21.7 million.
OVS, which closed the nine months with an adjusted pre-tax result of EUR87.8 million, an improvement of 22% – or EUR15.6 million – compared to the January-September 2024 period, when it was EUR72.3 million. The stock is up 4.1%.
Ariston Holding drops 1.6%, after the acquisition of Riello through an agreement with U.S.-based Carrier Global Corporation for the purchase of 100% of the group, with an enterprise value of EUR289 million.
On the Small-Cap, Borgosesia announced the increase to EUR25 million of the first tranche of the “Borgosesia 6.30%” bond loan, just hours after the placement began, due to market interest exceeding expectations. The stock is down 0.4%.
IGD – flat at EUR3.3850 – has signed an agreement with Coop Alleanza 3.0 for technical management, property management, and leasing activities on a portfolio of over 40 assets including shopping centers, hypermarkets, and supermarkets. The agreement is expected to generate additional revenues of EUR1.6 million.
Landi Renzo, after gaining 10% the previous day, is up 7.3% at EUR1.164 per share. EPH falls 3.9% to EUR0.124, still in the red.
Among SMEs, Braga Moro – up 1.6% – continues to strengthen its presence in the Saudi market, and more generally in the Middle East, through major contracts managed directly by its local operational division.
DHH has launched a transaction providing for a paid and divisible capital increase, excluding pre-emptive rights, for a total maximum amount of EUR10.0 million, to be subscribed by December 31, 2025.
The increase will be carried out through the issuance of up to 434,000 new ordinary shares. The stock is up 6.9% at EUR23.30 per share.
ESI – up 2.5% – has completed the acquisition of 100% of the share capital of ED Solar 2 Srl, a special purpose company established for the construction and management of a 1.65 MW photovoltaic plant.
Gentili Mosconi has completed the acquisition of Lanificio Cesare Gatti, a historic company in the Biella textile district specializing in cashmere. The transaction value is EUR600,000, entirely financed by the newco’s own resources, with a total outlay of about EUR539,000. The stock is flat at EUR3.46 per share.
In New York, the Dow Jones gained 0.1% to 47,951.85, the Nasdaq rose 1.4% to 23,006.36, while the S&P 500 gained 0.8% to 6,774.76.
In Asia, the Nikkei ended up 1.0% at 49,507.21, the Shanghai Composite closed up 0.4% at 3,890.45, and the Hang Seng traded up 0.8% at 25,690.53 points.
On the currency front, the euro is trading at USD1.1710 from USD1.1737 at Thursday’s equity close, while the pound is trading at USD1.3373 from USD1.3393 last night.
Among commodities, Brent is trading at USD59.69 a barrel from USD60.17 a barrel on Thursday, while gold is worth USD4,328.47 an ounce from USD4,364.70 an ounce on Thursday evening.
On Friday’s economic calendar, at 1100 CET, Eurozone construction output is due.
At 1600 CET, Eurozone consumer confidence will be assessed.
Among companies on the Milan Stock Exchange, results are expected from OPS eCom.
By Michele Cirulli, Alliance News Reporter
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