FTSE MIB Moves Toward Record Levels

The FTSE MIB rose to around 52,580 on Friday, extending gains from the previous session and moving closer to its record high, driven by renewed enthusiasm for AI-related stocks while investors assessed a fresh batch of corporate earnings. Technology shares led the advance, tracking the global rally in the sector, with STMicroelectronics and Prysmian climbing more than 4% each. Defence company Leonardo also gained over 3% after reporting solid second-quarter results and raising its full-year 2026 guidance. Brunello Cucinelli also advanced more than 3% after reporting strong first-half sales and lifting its annual guidance. Amplifon surged 8% after posting its strongest second-quarter organic growth in two years. Meanwhile, most banking stocks also traded higher. For the week, the benchmark index is heading for its first weekly gain in four weeks.

The FTSE MIB rose 1.3% to 52,104 on Thursday, supported by gains in financial and technology stocks, in addition to strong GDP data. AI infrastructure shares across the globe rebounded from yesterday's selloff after Samsung posted results, with STMicroelectronis jumping 6.4% and Prysmian gaining 4.5%. Financials also rose amid more strong earnings for European bank holding companies. Azimut gained 3.9%, and UniCredit, Banco BPM and BPER Banca all advanced more than 2%. Energy stocks continued to outperform, with Saipem up 3.7% and Eni gaining 1.4%, as oil prices remained elevated despite retreating during the session. Broader shares were also supported by strong GDP data. The Italian economy recorded by a carry-over growth rate of 0.8% in H1, firmly above the bank of Italy forecasts of 0.5% for 2026.  On the downside, Stellantis dropped 4.2% after reporting weaker-than-expected second-quarter results.

The FTSE MIB Index went up by 661 points or 1.29 percent on Thursday to close at 52104 points. The rise was led by STMicroelectronics (6.12%), Azimut Holding (3.92%) and Saipem (3.65%).