European markets climb following China-US summit; Stellantis gains

(Alliance News) - Major European indices closed in positive territory on Thursday, following a meeting between China and the US described as 'positive' by the White House.

In the Middle East, Iran has authorized the transit of Beijing-flagged vessels through the Strait of Hormuz starting Wednesday.

Consequently, the MIB pushed toward a historic record, rising 1.2% to 50,050.27, while the Mid-Cap climbed 1.6% to 60,510.37, the Small-Cap gained 1.6% to 34,949.51, and Italy Growth edged up 0.1% to 8,908.92 points.

Other European markets also trended higher: the CAC 40 rose 0.9%, the DAX 40 gained 1.3%, and the FTSE 100 added 0.5%.

On Piazza Affari, Fincantieri - which fell 1.6% - appointed its new board of statutory auditors for the 2026-2028 three-year period. Gabriella Chersicla was named chair, while Elena Cussigh and Antonello Lillo were elected as standing auditors. Ottavio De Marco and Arianna Pennacchio will serve as alternate auditors.

Jefferies analysts reaffirmed their conviction on Fincantieri following the financial results presented earlier this week, noting that solid operational performance and improved 2026 guidance remain undervalued by the market. Investor attention is now focused on short-term catalysts for the group led by CEO Pierroberto Folgiero, including potential M&A deals in the underwater segment and new defense orders, which could improve sentiment toward the stock.

Furthermore, growing margins in the cruise division and a record total backlog of EUR74 billion reinforce Jefferies' positive long-term view on Fincantieri. The upgraded 2026 guidance now anticipates revenues of up to 9.4 billion, EBITDA between EUR700-710 million, and net profit between EUR140-180 million. Jefferies analysts also highlighted Fincantieri's progress in the defense business across the US and Europe.

A2A - which gained 1.0% - closed the quarter with an adjusted net profit of EUR221 million, down 11% from EUR249 million in the same period of 2025. Additionally, the board approved a new framework resolution for the issuance, by April 30, 2029, of one or more senior, unsecured, non-convertible bond loans for a maximum total amount of EUR2.9 billion.

Stellantis, which finished 3.5% higher, is reportedly in talks with Huawei and Jac Motors to develop new Maserati electric models, focusing on advanced software and shared production.

Piece by piece, the Milan prosecutor's office is reconstructing the corporate maneuvering that led to the takeover of Mediobanca, which rose 0.4% by the close. At the direction of prosecutors, the Guardia di Finanza searched the offices of Andrea Nattino, chairman of Finnat Fiduciaria, considered by investigators to be the primary vehicle through which Francesco Gaetano Caltagirone operated in the market.

The investigation is primarily focused on the purchase of MPS shares - which fell 0.2% - on November 13, 2024, as part of the Treasury's stake disposal, which investigators deem an opaque procedure fraught with anomalies.

Regarding the banking consolidation and a possible MPS-Mediobanca integration, Francesco Caltagirone expressed opposition to a model that shifts resources from the real economy to finance: 'The social function of banks is being reduced.' He defended Mediobanca's historical role, hoping that the human capital built over the years will not be dissipated.

Caltagirone also believes Mediobanca should maintain its stake in Assicurazioni Generali, which saw daily gains of 0.8%: 'If all the big banks want Generali, I don't understand why those who own it should sell it.'

Following contract cancellations sent by Telecom Italia and Fastweb+Vodafone, Inwit - up 1.3% at the bell - has opened a dialogue with its main clients, while reiterating the need to defend agreements considered essential for the sustainability of the tower company model. TIM shares closed up 1.5%.

STM led the gainers, surging 5.4% to EUR55.18 per share.

On the Mid-Cap, Carel Industries - up 6.3% - closed the first quarter of 2026 with a consolidated net profit of EUR18.4 million, an 82% increase compared to EUR10.1 million in the same period of 2025.

ENAV - up 1.1% - renewed its board with Sandro Pappalardo, Stella Mele, Igor De Biasio, Antonella Ballone, Stefano Arcifa, Maria Cristina Vismara, Enzo Peruffo, Maria Letizia Ermetes, and Marco Rigotti.

Tinexta, with a daily gain of 0.1%, closed the first quarter of 2026 with a net loss from continuing operations of EUR4.9 million, compared to a profit of EUR3.6 million in the same period of 2025.

Cembre - the day's top performer with an 11% gain - closed the first quarter with a net profit of EUR14.0 million, up 18% from EUR11.9 million in the corresponding period of 2025, with margins rising to 20.5% from 19.8%.

Acea, which fell 2.0%, closed the first quarter of 2026 with growth in both investments and net profit, supported by a focus on regulated businesses and the continued strategy of portfolio rationalization.

NewPrinces - up 4.1% - closed the first quarter of 2026 with a consolidated net loss of EUR22.6 million, an improvement over the EUR34.8 million loss in the first quarter of 2025, on a like-for-like basis.

On the Small-Cap, Datalogic - down 13% at the close - ended the quarter with a net loss of EUR5.7 million, a slight improvement from the EUR5.9 million loss in the same period of 2025. During the period, revenues reached EUR120.3 million, up 6.7% at current exchange rates and 11% at constant exchange rates compared to Q1 2025.

FILA - up 1.3% - closed the first quarter of 2026 with a group net profit of EUR2.1 million, improving from a loss of EUR530,000 in the same period of 2025.

Esprinet, topping the list with a 21% surge, announced that V-Valley, a group company, has signed a partnership with Meferi, a leading Asian manufacturer in the AIDC (Automatic Identification and Data Capture) sector.

TXT e-solutions closed the first quarter with a profit of EUR5.7 million, up from EUR5.5 million in Q1 2025. Revenues amounted to EUR109.2 million, up from EUR92.2 million in the same period of 2025. The stock saw gains of 12%.

Cairo Communication, with a 0.8% increase, recorded a quarterly loss of EUR2.8 million, widening from the EUR2.1 million loss recorded in the first quarter of 2025.

Centrale Del Latte D'Italia, up 0.2%, closed the first quarter with a net profit of EUR1.7 million, down 23% from EUR2.2 million in Q1 2025. Pre-tax profit fell to EUR2.3 million from EUR3.1 million.

Gefran, which saw a 1.4% contraction, closed the first quarter with a net profit of EUR3.7 million, down from EUR4.1 million as of March 31, 2025. Quarterly revenues were EUR36.3 million, in line with EUR36.4 million in the same period last year.

Among SMEs, Impianti, up 4.8%, was awarded a contract by the Ministry of the Interior to provide solutions for technological upgrades and audio-video installations for State Police operations and control rooms, valued at over EUR270,000.

Alfonsino - flat at EUR0.1710 - closed the first quarter of 2026 with revenues of EUR800,000, up 9% from EUR700,000 in Q1 2025.

High Quality Food, with a daily decline of 0.4%, closed 2025 with a consolidated profit of EUR158,000 compared to EUR124,000 in 2024. Pre-tax profit rose to EUR289,000 from EUR242,000, while the group's attributable profit stood at EUR145,000, down from EUR152,000.

In New York, the Dow Jones gained 0.8%, the Nasdaq 1.0%, and the S&P 500 0.9%.

On the currency front, the euro is trading at USD1.1675 from USD1.1714 on Wednesday evening, while the pound is at USD1.3480 from USD1.3526 yesterday.

Among commodities, Brent crude is trading at USD105.03 per barrel from USD106.80 on Wednesday evening, while gold is valued at USD4,686.15 per ounce from USD4,698.53 at yesterday's close.

On Friday's economic calendar, Germany's wholesale price index is due at 0800 CEST, followed by Italy's consumer price index at 1000 CEST. At 1200 CEST, Spanish consumer confidence data will be released.

Focus shifts to the US starting at 1515 CEST with industrial production data.

On Piazza Affari, quarterly reports are expected from eight companies, including ERG and Ecosuntek.

By Michele Cirulli, Alliance News reporter

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