Futures lower as markets await European PMIs

(Alliance News) - European equity markets are headed for a subdued opening on Tuesday, according to IG futures, as investors return from the long holiday weekend.

Market attention is focused on President Donald Trump's ultimatum to Iran, while Tehran has rejected the US ceasefire proposal, insisting on an end to regional hostilities and the lifting of sanctions.

In Europe, composite and services PMI indices are expected from across the region.

Consequently, the FTSE MIB is expected to open down 182.7 points or 0.4% after closing Thursday down 0.2% at 45,624.94. London's FTSE 100 is expected in the red by 0.1% or 13.8 points, the Paris CAC 40 is seen falling 27.0 points or 0.3%, while the Frankfurt DAX 40 is down 135.0 points or 0.6%.

Among Italy's secondary boards on Thursday, the Mid-Cap lost 0.2% to 54,777.24, the Small-Cap ended fractionally in the red at 33,138.61, while Italy Growth rose 0.2% to 8,388.42.

Returning to Milan, on Piazza Affari's blue-chip index, Eni closed at the top, rising 4.3% to EUR24.685, with nearly 20 million shares traded.

Citigroup raised its target price on the "six-legged dog" to EUR24.00 from EUR20.50, maintaining a "neutral" recommendation.

The group announced that its board of directors has approved the potential issuance of one or more bond loans intended for institutional investors, for a total amount of up to EUR10 billion, or equivalent in other currencies, to be executed in one or more tranches by March 31, 2028.

The operation aims to maintain a balanced financial structure and cover the group's general requirements, with the possibility of listing the issues on one or more regulated markets.

Buying continued for Stellantis, which closed up 4.1%, marking its fifth consecutive session of gains.

Saipem and Snam also progressed, by 3.5% and 2.2% respectively.

Deutsche Bank Research confirmed a "buy" recommendation on Buzzi with a target price of EUR58.00. The stock closed down 2.2% at EUR44.78.

UniCredit, down 2.5%, announced that the board has convened an extraordinary general meeting for May 4 to approve a capital increase linked to the exchange offer for Commerzbank.

The board will be authorized to issue up to 470 million new shares by December 31, 2027, without pre-emptive rights and through contributions in kind. A statutory amendment is also planned to grant the board the necessary powers for the transaction.

Among the declining stocks, Mediobanca shed 2.5%, while MPS dropped 2.8%.

At the bottom of the main list was STMicroelectronics, down 2.8%, as D. E. Shaw & Co. increased its short position to 1.01% from 0.90%.

On the Mid-Cap, Alerion closed up 6.3%, its fourth consecutive session of gains.

Mediobanca revised its recommendation on Ascopiave to "neutral" from "outperform," with a target price of EUR3.95, citing the need for greater strategic clarity in the new corporate context. Ascopiave shares closed down 0.9% at EUR3.47.

Italmobiliare, down 2.2%, is renewing its governance and statutes to target an international dimension. The Pesenti family holding company is proposing a transition to a one-tier model, abolishing the board of statutory auditors in favor of an internal control committee within the board of directors.

Carel Industries closed up 3.3% at EUR23.75 following an upgrade by Goldman to "buy," with a target price of EUR25.40 per share.

Among the stocks at the bottom of the mid-cap list, Newprinces closed down 7.5%, following a 20% drop the previous day.

BFF Bank lost 9.6% after Wednesday's double-digit gain.

On the Small-Cap, among the most heavily traded stocks by value, doValue retreated 4.4%, while Trevi Finanziaria Industriale closed the session down 4.7%.

Fidia and OPS Italia recorded the largest gains in the basket, advancing 20% and 14% respectively.

Among SMEs, there was buying interest in Casta Diva Group, which advanced 9.4% with turnover of nearly EUR1.4 million.

STAR7, up 1.8%, announced the early termination of its share buyback program ahead of the original April 5 deadline, a decision linked to the agreement to sell control to Argos Fund.

Since the start of the buyback program, authorized by the shareholders' meeting on May 6, 2025, STAR7 has purchased a total of 42,873 ordinary shares, representing approximately 0.5% of the share capital, for a total value of EUR310,521.19.

Eprcomunicazione, down 4.4%, announced that Centrale Comunicazione has joined the group. Centrale Comunicazione is a Rome-based company led by Andrea Francini.

Ecosuntek gained 3.4%. The company announced on Thursday that Deep Value Club, through its subsidiary DVC 1 Srl, exceeded the 5% share capital threshold following the purchase of 909,300 ordinary shares on March 31.

In New York, the Dow closed Monday in the green by 0.4%, the Nasdaq gained 0.5%, while the S&P 500 ended up 0.4%.

In Asia, the Nikkei gained 0.3%, the Shanghai Composite is up 0.2%, and the Hang Seng did not trade due to an extended closure.

On the currency front, the euro is trading at USD1.1536 from USD1.1544 on Thursday evening, while the pound is trading at USD1.3229 from USD1.3236 on Thursday evening.

Among commodities, Brent is trading at USD111.03 per barrel from USD108.10 per barrel on Thursday evening, while gold is worth USD4,645.21 per ounce from USD4,656.50 per ounce on Thursday evening.

Tuesday's macroeconomic calendar includes the publication of the services sector PMI for Spain at 0915 CEST.

At 0945 CEST, it is Italy's turn with the services sector PMI and the composite PMI, followed at 0950 CEST by the same data from France and at 0955 CEST by Germany.

At 1000 CEST, Eurozone data is expected, with the services sector and composite PMI indices, while at the same time in the UK, new car registrations will be reported.

At 1030 CEST, the UK remains in focus with the composite PMI and services PMI indices.

In the afternoon, at 1415 CEST in the US, the weekly ADP employment change data is scheduled.

The day concludes at 2230 CEST, also in the US, with weekly oil inventories.

Among Piazza Affari companies, results from LU-VE are expected.

By Chiara Bruschi, Alliance News reporter

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