The FTSE MIB Index Closes 0.27% Higher

The FTSE MIB rose 0.3% to close at a record high of 52,959 on Monday, supported by expectations of higher military spending across NATO members. Defense stocks led gains after NATO members, including Italy, increased military spending. Fincantieri jumped 11.4% after announcing four acquisitions worth just over €1 billion, while Leonardo gained 4.6% and Avio added 2.6%. Ferrari rose 2.2%, extending gains as it continued its share buyback program and following the unveiling of its new model. Banks also advanced on expectations for a ECB rate hike, with Banco BPM up 2.2% after unveiling a €1.5 billion credit facility for Italian businesses' digital and ecological transition. Finecobank (1.2%) and Intesa Sanpaolo (1.1%) also advanced while insurers Unipol (0.3%) and Generali (0.1%) followed. Prysmian led losses at 2.1% and utilities underperformed, with Italgas down 1.7%, Terna losing 1.6%, and A2A falling 1.4%.

The FTSE MIB Index went up by 140 points or 0.27 percent on Monday to close at 52959 points. The rise was led by Fincantieri (11.42%), Leonardo SpA (4.78%) and Avio (2.61%). On the downside, the weakerst performers were Prysmian (-2.08%), Italgas (-1.66%) and Terna Rete Elettrica Nazionale (-1.55%).

The FTSE MIB climbed to around 53,100 on Monday, extending last week's record-setting rally and tracking gains across European markets. Sentiment remained supported by lower oil prices, while investors also focused on corporate developments ahead of the earnings season. Among the top performers, shipbuilder Fincantieri surged more than 11% after agreeing to acquire four Italian underwater technology firms in an initial €600 million investment. Defence group Leonardo also gained over 5% after being selected, alongside Thales, by NATO's NCIA to deliver a next-generation secure communications and information system for SOFCOM. Banco BPM rose nearly 2% after Crédit Agricole increased its stake in the lender to 29.3%, strengthening its presence in Italy. Other notable gainers included Intesa Sanpaolo (+1.1%), Banca Mediolanum (+1.1%), Ferrari (+2.6%), and Stellantis (+1.9%).