Stocks in Italy Hit 25-year High

The FTSE MIB was little changed above 47,000 in early trading on Thursday, hovering near record levels and broadly mirroring moves across its European peers. Investors remained focused on a fresh wave of corporate earnings and reports, with Eni rising more than 1% after posting a 35% year-on-year increase in adjusted Q4 earnings, supported by strong exploration and production performance and improved refining margins. Other notable gainers included Enel and STMicroelectronics, both up over 1%, while defence stock Leonardo added more than 1% as investors awaited US-Iran nuclear talks later in the day. On the downside, laggards included Generali (-1%), Ferrari (-0.8%), Unipol Gruppo (-1%), and Saipem (-2.5%). On the data front, Italy’s business and consumer confidence figures for February are due later today.

IT40 increased to 47174.00 Index Points, the highest since November 2000. Over the past 4 weeks, Italy Stock Market Index (IT40) gained 3.62%, and in the last 12 months, it increased 21.91%.

The FTSE MIB Index went up by 463 points or 0.99 percent on Wednesday to close at 47114 points. The rise was led by Mediobanca (4.44%), Finecobank (4.44%) and Nexi (4.16%). On the downside, the weakerst performers were Davide Campari-Milano (-5.02%), Leonardo SpA (-3.58%) and Stellantis N.V. (-1.34%).