Mib Turns Bearish; Buzzi Emerges as Day's Worst Performer

(Alliance News) - The Mib continued Tuesday's session with a sell-off exceeding 1%, hovering around 42,600 points and reversing the modest bullish carry-over from the previous session.

This move reflects a clear global risk-off sentiment, with portfolio flows shifting toward liquidity as traders recalibrate positions in light of the latest wave of corporate earnings, amid persistent macroeconomic uncertainty and rising market volatility.

As a result, the Mib dropped 1.2% to 42,687.69 points, with the put/call ratio registering at 1.39.

Among the smaller indices, the Mid-Cap lost 1.4% to 56,798.00, the Small-Cap fell 0.9% to 35,884.93, and Italy Growth retreated 0.7% to 8,624.99.

Elsewhere in Europe, Paris's CAC 40 slipped 1.6%, Frankfurt's DAX 40 retreated 1.7%, and London's FTSE 100 shed 1.1%.

On the Mib, among the few gainers was Campari, up 1.1%. The stock had lost 2.4% to EUR5.89 on Monday following the seizure of EUR1.3 billion worth of shares by the Guardia di Finanza from Lagfin, the Luxembourg holding company of the Garavoglia family, which controls the group. The measure, ordered by the Monza Prosecutor's Office, concerns an alleged failure to pay the "exit tax" related to the 2018 merger, with a taxable base of EUR5.3 billion.

Lottomatica's board--up 0.2%--approved its nine-month results Monday evening, closing the period with an adjusted net profit of EUR257.4 million. In the first nine months, turnover reached EUR32.5 billion, up 17% from the same period in 2024. Online turnover grew by 26%. GGR stood at EUR3.45 billion, a 10% increase over the first nine months of 2024.

Lagfin maintains it has complied with the law and notes that the measure does not affect its control over Campari, which stands at more than 80% of voting rights. According to Equita, the investigation involves only Lagfin's stake, not the operating company itself.

UniCredit--down 1.8%--announced Tuesday it had repurchased 1.2 million of its own ordinary shares between October 27 and 31. The shares were acquired at an average price of EUR63.0655 each, for a total outlay of EUR77.1 million.

BPER Banca--down 1.7%--announced Tuesday its intention to proceed with the early redemption of the "Euro 400,000,000 Fixed Rate Tier 2 Subordinated Callable Notes" bond, originally due to mature on November 30, 2030. The redemption date is set for November 30 of this year, five years ahead of schedule.

Buzzi, meanwhile, slumped 4.6%, ending at the bottom of the index with its price around EUR49.88.

On the secondary segment, Avio attracted buyers, rising 0.8% to EUR31.05 per share.

Salvatore Ferragamo also advanced, up 0.2% to EUR6.86 per share. Notably, Barclays raised its target price to EUR5.10 from the previous EUR3.50.

Webuild--down 2.1%--announced Monday that S&P Global had upgraded its rating to BB+ with a stable outlook, up from BB. As the company stated, this marks the second upgrade from S&P during its 2025 industrial plan, "confirming the robustness of the industrial model, the group's strategic vision, and financial-economic performance even amid complex macroeconomic conditions."

Banca Ifis--down 2.4%--announced Monday that the board of illimity Bank had accepted Banca Sella Holding's offer to acquire 50% of Hype's capital. The offer, currently subject to regulatory approval expected by early 2026, foresees a financial consideration of EUR85 million. The company noted that the deal would provide Banca Ifis with a capital benefit of about 55 basis points in CET1 terms.

BFF Bank dropped 2.8% to EUR10.57 per share after three bullish sessions.

On the Small-Cap index, Pininfarina rose 1.9% to EUR0.8780. The stock--which has not paid a dividend since 2005--has increased its market cap by about 25% since the start of the year.

Softlab performed well, up 2.8%, following a 3.6% gain in the previous session.

Landi Renzo edged up 0.1%, poised for its sixth consecutive session closing with a bearish candle.

Dexelance--down 4.3% and the worst performer on the index--continued its buyback program. On Monday, it reported that between October 27 and 31, it had purchased 7,382 of its own ordinary shares at an average price of EUR6.1122 each, for a total of about EUR45,000.

Fidia fell 2.6%, marking its fifth consecutive bearish session if confirmed at close.

Among SMEs, Gambero Rosso climbed 3.2%, following a 0.8% gain the previous day, with its price around EUR0.25.

Cyberoo also advanced, up 2.3% to EUR1.53 per share.

Nusco--down 0.6%--reported Monday that as of September 30, it had preliminary consolidated revenues of EUR37.1 million, compared to EUR37.8 million for the same period last year. As of September 30, the group's order book stood at EUR17.9 million, down from EUR18.5 million as of September 30, 2024.

Xenia Hotellerie Solution--down 3.2%--reported Monday that in the first nine months it posted revenues of EUR52.2 million, up from EUR42.6 million as of September 30, 2024. In the third quarter, the company reported revenues of EUR18.8 million, up from EUR15.1 million in the same period last year. The company explained in a note that the revenue growth is consistent with overall revenue trends and the total revenue forecast of its 2028 plan.

On Wall Street Monday evening, the Dow Jones declined 0.5%, the Nasdaq advanced 0.5%, and the S&P 500 gained 0.2%.

On the currency front, the euro traded at USD1.1508 versus USD1.1528 at Monday's equity close, while the pound traded at USD1.3077 compared to USD1.3145 Monday evening.

Among commodities, Brent crude traded at USD64.11 per barrel, down from USD65.03 at Monday's close, while gold was valued at USD3,996.90 an ounce, compared to USD3,999.41 an ounce Monday evening.

On Tuesday's economic calendar, Spanish unemployment figures will be released at 0900 CET, followed by a new intervention from ECB leaders at 1100 CET.

Bank of England's Breeden is scheduled to speak at 1400 CET, while US import and export data will be assessed starting at 1430 CET.

At 1800 CET, Italian car registration data is due, while the US oil inventory report is scheduled for 2230 CET.

By Maurizio Carta, Alliance News Reporter

Comments and questions: [e-mail]

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