The FTSE MIB Index Closes 1.60% Higher

Milan’s FTSE MIB rose around 0.4% on Friday, recouping some losses from the previous session as investors assessed corporate developments and tracked gains across regional peers. UniCredit gained 0.6% after receiving ECB approval to take control of Germany’s Commerzbank, while Brunello Cucinelli jumped 4.0% after raising its 2026 outlook following stronger third-quarter sales. Other notable gainers included defense-related shares, with Leonardo advancing 2.7% and Fincantieri rising 2.6%, while Saipem added 1.6% and Stellantis gained 1.4%. On the other hand, Eni fell 0.4%, mirroring a modest decline in crude prices and facing disruptions at its Taranto refinery linked to protests over the former Ilva steelworks crisis. On the data front, investors awaited the final September inflation reading. For the week, the benchmark index was on track for a muted performance.

The FTSE MIB Index dropped 356 points or 0.72 percent on Thursday to close at 49398 points. Losses were led by Technoprobe (-11.42%), Saipem (-4.34%) and STMicroelectronics (-4.05%). Offsetting the fall, top gainers were Telecom Italia (1.87%), Leonardo SpA (1.79%) and Ferrari NV (1.71%).

Milan's FTSE MIB fell 0.7% to 49,398 on Thursday, extending losses as heavyweight financials and tech stocks remained under pressure. Chip stocks plunged as signs of persistent inflationary pressures increased expectations of elevated borrowing costs for longer and raised concerns over capital-intensive sectors, particularly the AI buildout. Technoprobe plunged 10.3%, while STMicroelectronics also fell sharply by 3.8% and Prysmian by 3%. Financials also tumbled, as higher borrowing costs weigh on credit demand. UniCredit lost 2.1% while it looks to reduce the risk of its target Commerzbank on €1 billion worth of German mortgages by transferring part of that risk to other investors. Fincantieri fell 1.3% as the firm is in the process of integrating AI in its shipyards. Leonardo rose 1.9% as geopolitical tensions continue to increase. Utilities extended gains while European gas prices declined, led by Snam (1.3%) and Terna (1%).