(Alliance News) – European stock markets were weak on Thursday, in a day marked by the echoes of the Federal Reserve’s interest rate cut and the prospects of restraint by the ECB, which left monetary policy unchanged for the third consecutive session.

Macro data indicate that while economic growth in Europe is slowing less than expected and unemployment stood at 6.3% in September, in Italy the unemployment rate rose to 6.1% after standing at 6.0% in August.

As a result, the Mib fell 0.1% to 43,202.40, the Mid-Cap was just above par at 57,788.17, the Small-Cap was slightly down at 36,650.74, and the Italy Growth fell 0.3% to 8,686.96.

The CAC 40 was down 0.5%, the DAX 40 was up 0.1%, while the FTSE 100 was just below par at 9,754.85 points.

On the Milan Stock Exchange, Campari rose more than 11% to EUR6.040 after analysts upgraded the company. The accounts boosted the stock, with net sales of EUR 2.280 billion, up slightly from EUR 2.277 billion in the same period of 2024, with organic growth of 1.5% and overall growth of 0.2%.

Amplifon, which ended the nine months with an 18% drop in profits, fell 1.8%.

The countdown to the divorce between UniCredit – down 0.8% – and Amundi has begun, and Azimut – with sales down 1.2% – could be among the main beneficiaries.

By 2027, the institution led by Andrea Orcel aims to end its partnership with the French group as part of a strategy to internally enhance high-margin activities, starting with asset management.

In addition, after obtaining authorization from the European Central Bank, UniCredit announced on Thursday that it had increased its stake in Alpha Bank to 29.5%.

At the Banco BPM board meeting on November 6, alongside the expected quarterly growth, the list for the renewal of the board scheduled for 2026 will be discussed. The stock fell 0.6%.

Prysmian, down 4.0%, closed the first nine months with revenues of EUR14.68 billion, up from EUR12.36 billion at September 30, 2024. Group net profit at September 30 was EUR1.02 billion, up from EUR575 million in 2024.

Tenaris, up 4.9%, reported net sales of USD 2.98 billion, up from USD 2.92 billion in the same period last year. Third-quarter net profit stood at USD 453 million, down from EUR 459 million in the third quarter of 2024.

Italgas closed the nine months with a sharp increase in revenues and profits. Net profit improved to EUR 541.7 million from EUR 375.0 million. The stock gained 4.2%, also in anticipation of EUR 16.5 billion in investments through 2031.

Stellantis, which ended the third quarter of the year with net revenues of EUR37.2 billion, up 13% compared to the same period last year, fell 8.9%.

Third Bridge experts say its recovery in the second half of 2025 looks modest. After a weak start to the year, stronger volumes in the US should improve results, although weak demand in Europe means that any recovery is likely to be limited. Among other things, the Nexperia chip crisis is hurting the entire sector, with Stellantis having just set up a war room.

In the mid-cap sector, Fincantieri, up 1.0%, signed a Memorandum of Understanding with the Saudi Arabian Ministry of Industry and Mineral Resources for the development of an advanced maritime ecosystem, in line with the objectives of Saudi Vision 2030.

Banco di Desio e della Brianza, down 0.4%, announced on Thursday that its subsidiary Fides had successfully completed a new private securitization transaction involving loans deriving mainly from salary- or pension-backed loans.

Tamburi Investment Partners partially monetized its investment in Bending Spoons, carrying out a transaction that generated proceeds of approximately EUR 27 million, equal to 20 times the cost incurred, with a capital gain of over EUR 25 million. The stock was up 0.9%.

Moltiply Group held the top spot with purchases of 5.4% at EUR 47.00 per share, while among the worst performers was NewPrinces with 5.7% at EUR 2019.86 per share.

doValue, up 0.2%, priced its senior secured bond maturing in 2031 for a total principal amount of EUR 350 million at an annual rate of 5.375% with an issue price of 100%.

On the Small-Cap market, EPH continued its double-digit advance of the last three sessions with purchases of 45% at EUR0.3620 per share. The company approved the new binding offer submitted by RONA. The plan provides for two capital increases reserved for RONA: a first one of EUR 2.5 million, to be approved within 20 days, and a second one of at least EUR 7.5 million, subject to compliance with the 30% capital threshold.

Fidia, down 1.6%, announced that Global Growth Holding Limited has subscribed to the fifth tranche and part of the sixth tranche of the convertible bond cum warrant, for a total nominal value of EUR 750,000.

Elica increased its consolidated revenues to EUR 349.5 million, up 2.3% from January to September 2024. The company, down 4.4%, closed the nine months with a normalized loss of EUR 2.1 million, compared to a profit of EUR 2.2 million in the first nine months of the previous year.

BasicNet, up 1.8%, reported consolidated revenues in the first nine months of 2025 rose to EUR 303.4 million compared to EUR 296.0 million in the same period of 2024, an increase of 2.5%. The stock closed

Double-digit sales continue on OPS Ecom for 13%.

Among SMEs, Alantra indicates a ‘buy’ recommendation on Next Geosolutions Europe – up 0.4% – with a target price of EUR15.00, defining the agreement with Fincantieri as ‘strategically relevant’ and capable of combining ‘technological know-how with an immediate commercial return’.

ALA – flat at EUR36.10 per share – signed an intra-group loan agreement with its indirect parent company Wing MidCo Spa for EUR78.0 million.

Metriks AI announced the acquisition of 100% of the share capital of Appare and Systema for a total of EUR 1.4 million, while the stock fell 1.4%.

TMP Group’s stock rose 1.8% to EUR 5.70 per share after winning a contract worth over EUR 1 million for the Olympics in Cortina and Milan.

Doxee fell 1.0%, while Compagnia dei Caraibi’s accounts caused its stock to drop 8.3%.

In New York, the Dow Jones rose 0.4%, the Nasdaq fell 0.8%, and the S&P 500 lost 0.4%.

On the currency front, the euro traded at USD 1.1566 from USD 1.1661 at Wednesday’s stock market close, while the pound traded at USD 1.3150 from USD 1.3238 last night.

Among commodities, Brent crude is trading at USD 64.96 per barrel, down from USD 64.56 per barrel at yesterday evening’s close, while gold is trading at USD 3,998.50 per ounce, down from USD 3,998.02 per ounce yesterday evening.

On Friday’s economic calendar, UK house price data is expected at 0800 CET, followed by German import data.

At 0845 CET, the French consumer price index will be released, followed by the German consumer price index at 1000 CET, while the Eurozone consumer price index will be released at 1100 CET.

US employment data will be released at 1330 CET.

On the Italian stock exchange, Intesa Sanpaolo and three other companies are expected to report their nine-month results.

By Michele Cirulli, Alliance News Reporter

Comments and questions to redazione@alliancenews.com

Copyright 2025 Alliance News IS Italian Service Ltd. All rights reserved.