(Alliance News) - On Thursday, the main European stock markets opened in negative territory as they digest the decisions of the Federal Reserve and the Bank of Japan and ahead of the European Central Bank's decision in Florence, in a frenetic morning from a macroeconomic point of view with GDP data from Italy, Germany, and the Eurozone.
Last night, the US central bank, led by Jerome Powell, decided to cut rates by a quarter of a percentage point, but ruled out a similar move at its December meeting.
The Bank of Japan, on the other hand, left rates unchanged, before Lagarde & Co. announced, in an extraordinary meeting in Florence, the latest monetary policy decisions for the Eurozone.
As a result, the FTSE Mib is down 0.5% to 43,028.20, the Mid-Cap is down 0.5% to 57,471.47, the Small-Cap is down 0.3% to 36,543.10, while Italy Growth is down 0.2% to 8,696.75.
The FTSE 100 in London is down 0.4% to 9,718.03, the CAC 40 in Paris is down 0.4%, while the DAX 40 in Frankfurt is up 0.3% to 24,190.17.
In macroeconomic news, the French economy grew 0.5% quarter-on-quarter in the third quarter, accelerating from 0.3% in the previous quarter and far exceeding market expectations of 0.1%.
This is the fastest quarterly growth since the second quarter of 2023, supported by a strong increase in exports and solid domestic demand.
In Spain, the annual inflation rate rose to 3.1% in October, the highest since June 2024, from 3% in September, against market estimates of 2.9%, according to preliminary estimates by the INE.
Back in Milan, Campari tops the list with an 8.6% gain. The company announced on Wednesday that it closed the first nine months of 2025 with net sales of EUR2.280 billion, up slightly from EUR2.277 billion in the same period of 2024, with organic growth of 1.5% and overall growth of 0.2%.
For the current year, Campari expects moderate organic growth in net sales and stability in adjusted EBIT margin, now including the impact of US tariffs estimated at around EUR15 million, lower than previous estimates.
Italgas - up 2.0% - announced on Thursday that it had closed the nine months with revenues and profits up significantly compared to the same period last year.
In addition, the company presented its 2025-2031 strategic plan on Thursday, which calls for total investments of EUR 16.5 billion, up 5.7% from the previous plan, or 10% net of the acquisition of 2i Rete Gas and tenders.
EUR 14.2 billion of the investments will be allocated to the development and digitalization of gas networks in Italy and Greece, including 2i Rete Gas, EUR 1.5 billion to ATEM tenders, and EUR 800,000 to the water and energy efficiency sectors.
At the bottom of the list is Stellantis, down 5.8%. The company reported that it closed the third quarter of the year with net revenues of EUR 37.2 billion, up 13% compared to the same period last year.
The figure is mainly driven by growth in North America, the wider Europe, the Middle East, and Africa, while South America recorded a moderate decline, as the company explained in a statement.
Prysmian fell 4.5% after announcing that it had closed the first nine months with revenues of EUR14.68 billion, up from EUR12.36 billion at September 30, 2024.
The group's net profit as of September 30 was EUR1.02 billion, up from EUR575 million in 2024.
Based on the results, the company explained in a statement that it had revised its guidance for 2025 upwards.
After obtaining authorization from the European Central Bank, UniCredit - down fractionally to EUR63.66 per share - announced on Thursday that it had increased its stake in Alpha Bank to 29.5%.
Azimut is also down, falling 0.8%. The countdown to the divorce between UniCredit and Amundi has begun, and Azimut 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 this scenario, the Nova collaboration - established in 2022 between UniCredit and Pietro Giuliani's company - is set to become the bank's main channel for asset management.
On the Mid-Cap, Webuild is down 4.0%. The Court of Auditors has rejected the Messina Strait Bridge project, denying the Cipess resolution approving the final design. Now, the government can still proceed with a resolution of the Council of Ministers, which can authorize the act for reasons of overriding public interest.
Specifically, the Court raised doubts about financial coverage for EUR 13.5 billion, traffic estimates, environmental and anti-seismic compliance, and the competence of Cipess.
Fincantieri, down 0.4%, through its subsidiary IDS, and Next Geosolutions Europe, up 2.3%, signed a memorandum of understanding aimed at initiating a strategic collaboration in the development of Unmanned Surface Vehicles and related technologies for civil use in the oil & gas and renewable energy sectors.
Technogym, with purchases of 3.2%, closed the first nine months of 2025 with consolidated revenues of EUR 708.5 million, up 14% compared to EUR 621.6 million in the same period of 2024.
On the Small-Cap, Edison Rsp - down 0.2% - announced on Thursday that it had closed the first nine months of the year with revenues up to EUR13.33 billion from EUR10.94 billion as of September 30, 2024.
The group's net profit for the nine months stood at EUR251 million, down from EUR403 million in 2024.
EPH 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. EPH shares are not yet traded.
Zest - up 0.7% - approved a paid capital increase of up to EUR 4.5 million, to be carried out in a split form by December 31 through the issue of new ordinary shares to be offered as an option to shareholders.
Among SMEs, Edil San Felice, down 3.4%, was awarded a new contract from Autostrade per l'Italia worth EUR 5.8 million.
TMP Group has been chosen by one of the world's leading players in the large-scale staging and event production sector to support the creation of the interior design for the 2026 Milan-Cortina Olympic Athletes' Village. The stock is down 2.7%.
GT Talent Group is not yet affected by trading. The company announced on Wednesday that BDO has resigned as statutory auditor due to non-payment of EUR 15,581.36.
In Asia, the Nikkei closed just above par at 51,325.61, the Shanghai Composite fell 0.7% to 3,986.90, and the Hang Seng fell 0.2% to 26,282.69.
In New York last night, the Dow Jones closed down 0.1% at 47,632.00, the Nasdaq rose 0.6% to 23,958.47, and the S&P 500 ended trading flat at 6,890.59.
On the currency front, the euro is trading at USD 1.1612 from USD 1.1661 at Wednesday's stock market close, while the pound is trading at USD 1.3193 from USD 1.3238 last night.
Among commodities, Brent crude is trading at USD63.94 per barrel, down from USD65.19 per barrel at last night's close, while gold is trading at USD3,981.05 per ounce, down from USD3,998.02 per ounce last night.
In Thursday's economic calendar, German unemployment will be analyzed at 0955 CET, while the Italian GDP report will be released at 1000 CET, along with the German report.
At 1100 CET, Eurozone GDP and consumer price data are expected, as well as unemployment and industrial sentiment data.
At 1200 CET, the Italian industrial sales report is expected, and at 1430 CET, the ECB's monetary policy decision is scheduled. This will be followed by Lagarde's speech at 1615 CET.
On the Italian stock exchange, results are expected from Itway and BasicNet, among others.
By Claudia Cavaliere, Alliance News reporter
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