FTSE MIB Rebounds From Three-Day Slide

The FTSE MIB increased 0.28% to close at 51,782 on Thursday, rebounding from a three-day streak of losses with support from tech and power infrastructure companies. STMicroelectronics rose 2.8%, after Micron's positive earnings report helped ease worries and improved sentiment on the AI sector. Prysmian followed, gaining 0.3%. Rising electricity demand linked to data centers led to gains for utilities, where Enel (2%) and A2A (1.5%) both rose sharply. However, defense linked firms Avio and Leonardo led losses on the market at 6.6% and 4%, respectively. Selling was also concentrated on ENI (-2%), along with Saipem (-1.8%), after concerns emerged that widespread power outages in Venezuela, following recent earthquakes, could disrupt crude oil capacity. Elsewhere, Ferragamo advanced 3%.

The FTSE MIB Index went up by 144 points or 0.28 percent on Thursday to close at 51783 points. The rise was led by STMicroelectronics (2.57%), Buzzi Unicem (2.17%) and Enel (2.00%). On the downside, the weakerst performers were Avio (-6.62%), Leonardo SpA (-3.94%) and Fincantieri (-2.92%).

The FTSE MIB rose to around 51,800 on Thursday, snapping a three-day losing streak and moving in line with its European peers. Investor sentiment improved after strong results and upbeat sales guidance from Micron Technology reinforced confidence in AI-related demand. Semiconductor firm STMicroelectronics led gains of more than 4%, trimming losses from earlier in the week. Other notable gainers included Prysmian (+1.7%), Buzzi (+0.9%), and A2A (+1.3%). On the flip side, oil major Eni and defense group Leonardo underperformed the broader market as geopolitical tensions eased and oil prices continued to decline, returning to levels seen before the Iran conflict. Meanwhile, Saipem secured a major offshore contract worth about $1 billion from Azule Energy, a 50-50 joint venture between Eni and BP, for the Greater PAJ development off the coast of Angola. Still, Saipem shares fell 0.6%.