(Alliance News) - On Friday, major European indices ended the session in negative territory, erasing midday gains amid geopolitical tensions and rising energy costs, with Brent crude returning to the USD100 per barrel range.
On the macroeconomic front, the PCE price index in the US increased by 0.3% month-on-month in January, in line with market expectations and slowing slightly from the 0.4% increase recorded the previous month.
In the fourth quarter of 2025, the US economy recorded annualized growth of 0.7%, the weakest figure since the contraction in the first quarter of 2025 and well below the 1.4% indicated in the preliminary estimate.
Consequently, the FTSE Mib closed down 0.3% at 44,316.92, the Mid-Cap lost 0.4% to 54,133.51, the Small-Cap fell 1.5% to 33,508.14, while Italy Growth retreated 0.3% to 8,359.27.
London's FTSE 100 closed 0.4% in the red, the CAC 40 in Paris retreated 0.9%, while the DAX 40 in Frankfurt lost 0.7%.
Returning to Milan, on Piazza Affari's large-cap list, Eni outperformed all others, finishing at the top with a 2.7% rise to EUR22.35, with nearly 17 million shares traded. The stock of the "six-legged dog" hit a new 52-week high during the session.
Strength was also seen in Saipem, up 2.5%, and Enel, which rose 2.5%.
Leonardo closed up 0.3% at EUR64.08. Citigroup raised its target price on the stock to EUR69.00 from EUR60.00 with a 'neutral' rating.
Among other decliners, Brunello Cucinelli shed 2.4% to EUR70.34. The stock touched a 52-week low of EUR69.02 per share.
At the bottom of the main list sat Stellantis - bearish with a 4.4% drop - which is evaluating possible deals with Chinese automakers that could invest in struggling European assets, allowing the group to focus more of its investment in the US.
According to sources cited by Bloomberg, executives met with Xiaomi and Xpeng to discuss options for reorganizing European operations, including the possible acquisition of stakes in Maserati or other brands. Also on the table is access to production capacity, as Chinese groups seek to strengthen their presence in Europe.
On the Mid-Cap, Avio took the top spot, appreciating by 8.0% to EUR36.50 per share. On Thursday, it approved accounts showing a net profit of EUR11.6 million, up 82% from the previous year. Net revenues stood at EUR541.7 million, an increase of 23% year-on-year.
Cembre - down 10% - announced on Friday that it closed 2025 with a profit of EUR46.6 million, up from EUR42.6 million as of December 31, 2024. The board of directors proposed a dividend distribution of EUR2.06 per share, up from EUR1.88 distributed in 2024.
De' Longhi - up 0.5% - announced Friday that it closed 2025 with a group net profit of EUR316.3 million, an 1.8% increase compared to the EUR310.7 million recorded in 2024. Adjusted net profit stood at EUR368.0 million, up from EUR333.3 million the previous year. The board will propose a dividend of EUR0.85 per share to the shareholders' meeting.
LU-VE closed up 0.4% after announcing Friday that it ended 2025 with a net profit of EUR39.8 million, an 11% increase compared to the EUR35.8 million recorded in 2024. Adjusted net profit stood at EUR42.1 million, up 13%. The board will propose a gross dividend of EUR0.47 per share.
MARR - down 5.0% - announced Friday that it closed 2025 with a consolidated net profit of EUR31.0 million, a 28% decrease compared to the EUR42.7 million recorded in 2024. The board will propose a gross dividend of EUR0.47 per share, down from the EUR0.60 distributed for the previous year. Total consolidated revenues stood at EUR2.13 billion, up 1.4% from EUR2.10 billion in 2024.
Reply rebounded by 6.2%, following a nearly 15% loss the previous day despite solid 2025 results.
Webuild shed 8.7% to close at EUR2.476, despite 2025 results exceeding operational expectations and showing, according to analysts, a solid foundation ahead of the new industrial plan to be presented in June.
Intermonte maintains a positive view on the stock, confirming an 'outperform' recommendation and a target price of EUR4.50, implying an upside potential of approximately 80% compared to the closing price. The investment bank believes the stock still trades at attractive multiples.
According to Intermonte analysts, the group's balance sheet de-risking strategy pursued in recent years, with greater exposure to low-risk regions and significant scale growth, has strengthened asset quality and cash generation capacity.
On the Small-Cap, Aquafil closed with an 8.0% gain. The company announced Thursday that the 2025 financial year ended with a net loss of EUR4.7 million compared to the EUR16.3 million loss recorded in 2024, a 71% improvement.
Emak - in the green by 7.2% - reported closing 2025 with a net profit of EUR14.2 million, up from EUR6.5 million as of December 31, 2024. The company proposed a dividend of EUR0.030 per share, up from EUR0.025 in 2024.
TXT e-solutions - up 7.7% - announced that the board approved the 2025 results, closing with a net profit of EUR25.3 million, a 59% increase compared to the EUR15.9 million recorded in 2024.
At the bottom of the basket, Orsero retreated 11% to EUR16.64 per share, marking its third bearish session.
Among SMEs with the highest trading value, ICOP shed 2.6% while expert.ai advanced 1.0%.
Circle - up 3.8% - announced Thursday that it closed 2025 with a production value of EUR25.1 million, up from EUR14.6 million as of December 31, 2024. Ebitda stood at EUR6.1 million from EUR3.0 million the previous year, with a margin of 24% up from 21% in 2024.
At the bottom of the alternative list, Helyx Industries closed down nearly 14%, its third consecutive bearish candle, with a loss over the last five sessions of 21%.
In New York, the Dow is fractionally in the green, the Nasdaq is shedding 0.6%, while the S&P 500 is down 0.2%.
On the currency front, the euro is changing hands at USD1.1441 from USD1.1520 on Thursday, while the pound trades at USD1.3237 from USD1.3345 yesterday evening.
Among commodities, Brent is trading at USD101.53 per barrel from USD99.16 on Thursday, while gold is worth USD5,048.93 per ounce from USD5,167.50 yesterday evening.
Monday's macroeconomic calendar opens at 0300 CET in China with the publication of industrial production, retail sales, and the unemployment rate.
At 1200 CET in Germany, the Bundesbank's monthly report is expected.
In the afternoon, attention shifts to the US. At 1415 CET, industrial production data will be released, while at 1630 CET, two US Treasury bill auctions (three-month and six-month maturities) are scheduled.
Among Piazza Affari companies, results are expected from Comer Industries, Dexelance, Garofalo Health Care, Tamburi Investment Partners, and nine other companies.
By Antonio Di Giorgio, Alliance News reporter
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