The FTSE MIB index closed slightly above the flatline at 24,095 on Friday, erasing gains after hovering above 24,500 in the session and ending the week 0.2% higher, as improved sentiment from the PBoC cutting its mortgage reference rate offset recession concerns and fears of soaring inflation. Utility stocks led the gains in Milan, concluding another volatile week for the sector as multiple energy distributors and providers grappled over whether paying for Russian gas in rubles would be a breach of EU sanctions. Enel shares jumped over 3%, while Hera gained 1.3%. On the other hand, Moncler ended 2% down, tracking Richemont shares lower after the group forecasted that Chinese lockdowns could affect the luxury goods sector.
Historically, the Italy Stock Market Index (IT40) reached an all time high of 50108.56 in March of 2000. Italy Stock Market Index (IT40) - data, forecasts, historical chart - was last updated on May of 2022.
The Italy Stock Market Index (IT40) is expected to trade at 23164.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 20752.20 in 12 months time.