FTSE MIB Trades Higher

The FTSE MIB rose to around 52,200 on the last trading day of September, supported by broad gains across financial and utility stocks. Among banks, UniCredit rose 1.1%, while BPER Banca and FinecoBank gained 1.6% and 2.4%, respectively. Intesa Sanpaolo also advanced 0.6%, while Banca Mediolanum and Mediobanca added 2.3% and 0.9%. In utilities, Terna rose 1.4%, Snam 1.1%, Enel 0.9%, Hera 1.7% and Italgas 1.3%. Meanwhile, Eni fell 1.0%, mirroring easing crude oil prices. The benchmark index is heading for a monthly decline while remaining higher for the quarter. On the data front, Italy’s business confidence rose to 91.9 in September, above expectations of 90.5 and the highest since April 2023, while consumer confidence fell to 91.2 from 94.5, below the forecast of 94.0.

The FTSE MIB Index gained 45 points or 0.09 percent on Tuesday to close at 51805 points. Gains were led by Technoprobe (8.20%), Fincantieri (4.56%) and Avio (2.85%). Biggest losers were Telecom Italia (-4.48%), Stellantis N.V. (-4.13%) and Poste Italiane (-3.40%).

The FTSE MIB closed largely unchanged at 51,805 on Tuesday, weighed by heavyweight financials amid ongoing developments in Milan’s banking sector. Financials remained mixed following reports that Credit Agricole is studying a range of options to strengthen its business in Italy, including a potential acquisition of long-time partner Banco BPM (-0.9%) in response to MPS’s (-0.3%) offer for the lender. Generali advanced 1%. Energy stocks Eni (-1.3%), Tenaris (-1.6%) and Saipem (-1.3%) declined, tracking lower oil prices, while the latter was awarded an engineering services contract by Profertil in Argentina. Telecom (-4.5%) and Poste Italiane (-4%) also extended their losses. On the upside, Technoprobe, STMicroelectronics and Prysmian advanced more than 1.8% amid renewed optimism over artificial intelligence, buoyed by yesterday’s news of Nvidia’s record share buyback. Avio and Fincantieri gained more than 2.8%.