The FTSE MIB Index Closes 0.44% Higher

The FTSE MIB Index gained 232 points or 0.44 percent on Friday to close at 52614 points. Gains were led by Nexi (6.28%), Stellantis N.V. (3.83%) and Buzzi Unicem (2.51%). Biggest losers were Avio (-1.82%), Leonardo SpA (-1.30%) and Eni (-1.19%).

The FTSE MIB rose 0.4% to close at 52,614 on Friday, supported by strong gains in the financial and payment sectors. Nexi led the index with a 6.7% jump after the European Parliament approved its negotiating position on the digital euro. Stellantis was the second-best performer, climbing 3.4%. Financial stocks also advanced as the US and Iran confirmed that negotiations were underway, despite Washington denying any extension of the ceasefire. Azimut, Unipol, Mediobanca, Intesa Sanpaolo, Banco BPM, and FinecoBank all gained more than 1%, while UniCredit rose 1.3%, riding the news of a possible takeover of Commerzbank. Meanwhile, defense stocks extended recent losses despite earlier talks of an increase in military spending from NATO countries. AI-linked stocks remained volatile, with Prysmian falling 1.1% and STMicroelectronics losing 1.0%. Energy major Eni also declined 1.2% amid continued volatility in crude oil prices. For the week, benchmark index declined 0.9%.

The FTSE MIB edged up to around 52,500 on Friday, modestly extending gains from the previous session as investors continued to monitor developments in the Middle East. A pullback in oil prices after this week's sharp rally improved sentiment amid reports that the US and Iran would continue diplomatic negotiations. Financials led the gains, with Intesa Sanpaolo (+1.1%), Mediobanca (+1.3%), Banca Monte dei Paschi di Siena (+0.7%), and Banco BPM (+0.7%) advancing. Automakers also moved higher, with Ferrari and Stellantis rising 1.2% and 1.3%, respectively. Italgas added 0.2% after Moody's Ratings revised its outlook on the company to positive from stable. Meanwhile, technology stocks underperformed, with STMicroelectronics (-0.4%) and Prysmian (-0.6%) trading lower as investors awaited the US market debut of South Korean chipmaker SK Hynix. For the week, the benchmark index is heading for a modest decline.