In the first trading session of 2026, the European stocks I am in rise and they reached a new historical high, consolidating the extraordinary gains of the previous year, with the defense titles in the lead. Positive the banking sector, which benefits from the new rules on Golden Power which could facilitate M&A operations in the European Union.
Late morning the pan-European Stoxx 600 index rose 0,6% to 596,94, holding close to the finish line symbolically important of the 600 points, as investors returned from New Year's Eve celebrations. The index is ready for its third consecutive weekly increaseThe European benchmark closed 2025 with its best performance since 2021, thanks to falling interest rates, Germany's fiscal push, and the retreat of highly valued US tech stocks. Stocks weathered a year of tariff turmoil, recovering from yearly lows in April, when US President Donald Trump imposed widespread tariffs on trading partners, sending global markets reeling.
A London, the blue-chip FTSE 100 index reached for the first time the symbolic milestone of 10.000 points.
Eurozone stock markets mostly rose, although volumes of exchange remained meager. The Swiss market remained closed today and will resume trading next week.
Within the STOXX 600, the defense titles had the best performance, advancing by 2,4%. Even the banking provided support with a +0,8%. The sector linked to raw material rose by 1,5%, while the index energetic rose 1,4%, tracking the rise in precious metals and crude oil prices throughout the day.
On the data front, theEurozone manufacturing activity It slipped further into contraction territory in December, to 48,8 points, with output falling for the first time in 10 months.
FranceManufacturing activity expanded at its fastest pace in 3 years in December thanks to strong exports, although political uncertainty could pose headwinds in 2026, according to a business survey conducted Friday by S&P Global. The final Purchasing Managers' Index (PMI) for the French manufacturing sector, compiled by S&P Global, rose to 50,7 in December from 47,8 in November, surpassing the 50,0 threshold that indicates growth rather than contraction.
GermanyThe German manufacturing sector faced a deepening recession at the end of 2025, with production declining for the first time in 10 months in December amid a sustained decline in demand, a business survey showed on Friday. The final HCOB Purchasing Managers' Index (PMI) for the German manufacturing sector, compiled by S&P Global, fell to 47,0 in December from 48,2 in November, a steeper decline than the preliminary reading of 47,7 for the final month of the year.
Sul currency market, the euro/dollar exchange rate remained little changed at around 1,17, with the greenback which in 2025 marked the worst performance against the basket of major currencies in almost a decade. The rebound precious metals after the recent achievements: the'gold is trading above $4.300 an ounce and silver is above $74. Flat the Petroleum, with Brent below $61 a barrel and WTI at $58. The spread is slightly up to 71 points from 69 at the previous closing.
Stm, Fincantieri, Leonardo, and Monte Paschi are all running at Piazza Affari.
At Piazza Affari the index Ftse Eb, like the main European stock markets, is on the rise and at mid-session showed a +0,28%. The Italian blue-chip stock index closed 2025 up 31,5%, representing the second European market with the highest growth after the Spanish Ibex.
Il banking sector benefits from new rules on Golden Power which could facilitate M&A transactions in the European Union: the Italian government has amended the legislation, making the activation of special powers for the financial sector subject to the opinion of the competent European authorities. On the main stock exchange, among others, Mediobanca + 2,19% Popular of Sondrio + 1,5% Bper + 0,78% Fineco + 0,6%.
Bpm bank (+0,54%). The consultation agreement among Banco BPM shareholders fell to 5.93%, from 6.51%, due to the reduction in the stake held by the Cassa di Risparmio di Lucca Foundation (from 1.24% to 0.646%). The domestic press reports that Enasarco (1.5%) and ENPAF (0.2%) could also join the agreement, bringing the total potential share of the agreement to 7.6%. The consultation agreement is now at 5,93%. The consultation agreement is not binding upon the shareholders' meeting.
stmicroelectronics (+3,44%), in the wake of the European tech rally and encouraging news regarding AI prospects coming from Asia.
Fincantieri (+5,03%) announced that its subsidiary Wass Submarine Systems has been awarded a contract by the Indian Navy to supply Black Shark Advanced (BSA) heavyweight torpedoes for the six Scorpène-class submarines. The total order value exceeds €200 million, representing the largest contract in Wass's history. Deliveries are scheduled for 2028-2030, with production at the Livorno facility. The contract also includes launch systems, maintenance equipment, and spare parts, ensuring integrated support for the Indian fleet.
Corre Saipem (+2,10%) following the news of the signing of new contracts worth one billion dollars in Saudi Arabia and Turkey. Specifically, Saipem has been awarded two offshore contracts in Saudi Arabia, known as Contract Release Purchase Orders (CRPOs), under its existing Long-Term Agreement with Aramco. The first contract, lasting 32 months, includes the engineering, procurement, construction, and installation (EPCI) of approximately 34 km of pipeline and related topside work at the Berri and Abu Safah oil fields. The second contract, lasting 12 months, includes subsea operations at the Marjan field and the engineering, procurement, and construction (EPC) of 300 m of onshore pipeline and related tie-ins. Saipem has also been awarded a new offshore contract by Turkish Petroleum OTC for additional work as part of the extension of the third phase of the Sakarya gas field development project in the Turkish sector of the Black Sea. The contract, which has a duration of approximately two and a half years, will be managed in continuity with the contract signed in September 2025 for the third phase of the Sakarya field development. The offshore campaign will be conducted by Saipem's pipelay vessel Castorone in the second half of 2027.
NewPrinces, formerly Newlat Food, (+2,70%). The Italian multi-brand agri-food group, listed on Euronext STAR Milan, has completed the acquisition of 100% of Plasmon from Kraft Heinz for a final cash consideration of €124,3 million. The acquired business generated approximately €170 million in revenue and €17 million in EBITDA in the 2024 financial year. The scope of operations includes leading Italian baby food brands such as Plasmon, Nipiol, BiAglut, Aproten, and Dieterba, as well as the Latina production site, which employs approximately 300 people. Management expects Plasmon's revenue to grow at a CAGR of approximately 3% over the coming years, with an EBITDA margin gradually improving to approximately 15% in the medium term, in line with previous guidance.
Vodafone/FastwebFollowing the merger by incorporation approved by their respective shareholders' meetings, effective January 1, 2026, Fastweb SpA and Vodafone Italia SpA became a single company under the name Fastweb SpA. This transaction marks the beginning of a new chapter for the Italian telecommunications market and creates a leading national operator. With over 20 million mobile lines and 5,8 million fixed lines, Fastweb SpA has established itself as the country's leading infrastructure operator, leveraging more than 20.000 mobile sites that cover 87% of the Italian population in 5G and a proprietary fixed network of over 74.000 km, ensuring widespread coverage, including 54% of the FTTH (Fiber To The Home) network. From a commercial perspective, the Fastweb, Vodafone and ho. brands will continue to be used, while for corporate identity, the Fastweb + Vodafone corporate brand will continue to be used.
Mps Bank (+3%, its highest since July 2022) announced the convocation of an extraordinary meeting for February 4th to approve several statutory amendments. The meeting, which will be held in Siena at 2:30 PM, will vote on several proposals:
- the power for the outgoing Board of Directors to present its own list of candidates;
- the possibility for the Ordinary Assembly to increase the ratio between the variable and fixed components of remuneration;
- clarifications on the procedures for replacing directors during their mandate; • the elimination of the exception to the maximum mandate limit for the Chief Executive Officer;
- the possibility for the Board of Directors to appoint the President and Vice Presidents in the absence of an assembly nomination;
- specific rules for the case of submission of a single list for the Board of Statutory Auditors;
- changes to the allocation of profits, with the reduction of the legal reserve to the minimum required by law and the elimination of the statutory reserve.
