Italian Stocks Gain

The FTSE MIB Index went up by 443 points or 0.87 percent on Tuesday to close at 51261 points. The rise was led by Technoprobe (5.08%), Infrastrutture Wire (3.06%) and Nexi (2.84%). On the downside, the weakerst performers were Telecom Italia (-3.56%), Fincantieri (-3.55%) and Tenaris (-3.00%).

The FTSE MIB ended 0.9% higher at 51261 on Tuesday, tracking a broadly positive mood across European and US markets, supported by lower oil prices and bond yields. Heavyweight financial stocks led the advance, with the sector remaining in focus amid ongoing M&A activity in the Italian banking sector. UniCredit (1.6%), Intesa Sanpaolo (1.3%), Bper Banca (1.5%) and Banca Monte dei Paschi di Siena (2.3%) were higher. In contrast, Telecom Italia lost 3.7%, Leonardo fell 2.2% and Tenaris lost 2.8%. The energy sector was also under pressure, with Eni falling 1.1%

The FTSE MIB rose over 1% to around 51,300 on Tuesday, gaining for a third consecutive session, as a pause in the bond-market sell-off and lower oil prices offered some relief to markets. Heavyweight financial stocks led the advance, with the sector remaining in focus amid ongoing M&A activity in the country’s banking sector. Intesa rose 1.4%, while UniCredit gained 1.6%, BPER added 1.8% and MPS advanced 1.3%. Technology-related shares also outperformed, led by STMicroelectronics, which jumped 2.3%, while Technoprobe and Prysmian gained 2.2% and 1.3%, respectively. Utilities also advanced broadly, with Enel, Terna and Snam posting gains. Recordati rose 1.5% after CVC and GBL raised their takeover bid for the drugmaker to €53 per share. Meanwhile, Telecom Italia fell 1.5%, while Eni (-0.5%) and Leonardo (-0.5%) also declined.