European Markets Dip: Generali, Banks, and Luxury Stocks Feel the pressure
European markets experienced a downturn, with major indices recording declines of approximately 1%. The banking sector and luxury goods companies faced particular headwinds, while insurer Generali reacted to its latest quarterly report.
Market overview
- The FTSEMib fell by 1.03% to 40,135 points, fluctuating between 40,064 and 40,377 points.
- The FTSE Italia All Share decreased by 0.99%.
- The FTSE Italia Mid Cap dropped by 0.5%.
- The FTSE Italia Star declined by 1.06%.
Cryptocurrency Update
Bitcoin rebounded, surpassing $111,000 (over 98,000 euros), nearing $111,500.Filippo Diodovich, Senior Market Strategist at IG Italia, noted that the cryptocurrency rally is supported by a series of factors that report a growing acceptance and strategic accumulation of Bitcoin by key actors in the world of finance and technology.
Bond Market
The spread between BTP (Italian Treasury Bonds) and Bund (German government bonds) was reported at 100 points, with the ten-year BTP yield standing below 3.7%. the euro dropped to $1.13.
generali’s Performance
Generali shares decreased by 0.72% to 33.06 euros following the release of its first-quarter 2025 financial results. While profitability improved, gross premiums remained relatively stable. Generali’s management reaffirmed its strategic and financial objectives for the 2025-2027 period.
Banking Sector Under pressure
The banking sector experienced a nervous session, with several institutions facing declines.
- Monte dei Paschi di Siena fell by 1.59% to 7.262 euros, despite concluding a placement of a new senior preferred unsecured bond issue for 500 million euros, which received approximately 1.4 billion euros in requests.
- Unicredit decreased by 0.85% to 57.36 euros. Consob, the Italian securities regulator, suspended Unicredit’s public voluntary exchange offer for BancoBPM for 30 days.
- BancoBPM declined by 0.86% to 9.934 euros.
consob has communicated that it had ordered the suspension for 30 days of the public voluntary exchange of totalitarian exchange promoted by the bank led by Andrea Orcel on BancoBPM.
Luxury Stocks Decline
Luxury goods companies also faced a downturn.
- Brunello Cucinelli decreased by 3.1% to 106.2 euros.
- Moncler fell by 3.07% to 54.98 euros.
Other Notable Movements
- At the FTSEMib, Stellantis declined by 3.77% to 9.176 euros, and Telecom Italia TIM fell by 2.13% to 0.3868 euros.
- In the Mid Cap segment, Fincantieri continued its positive trend, rising by 2.21% to 14.79 euros, with some investment banks revising up the company’s target price.
- Among smaller capitalization companies, Health Italia experienced a surge, unable to make a price due to excessive rise, following agreements for the transfer of participation to a group of private investors at a price of 300 euros per share.
