The FTSE MIB Index Closes 0.91% Higher

The FTSE MIB Index went up by 448 points or 0.91 percent on Friday to close at 49746 points. The rise was led by Fincantieri (6.89%), Amplifon (6.81%) and Infrastrutture Wire (3.75%). On the downside, the weakerst performers were STMicroelectronics (-2.91%), Avio (-2.10%) and Telecom Italia (-1.23%).

The FTSE MIB closed 0.9% higher at 49,746 on Friday, rebounding from a four-month low as a slowdown in the bond market selloff provided some relief. Financial stocks pared recent losses, with UniCredit rising 1.1% as it sought approval from Brussels for its Commerzbank deal, with a decision expected on November 16th. MPS gained 1.3% after its largest shareholder, Delfin, agreed to suspend additional share purchases until after Intesa’s deal. Nexi advanced 1.8% amid further details on the adoption of the digital euro. Defense stocks also recovered, led by Fincantieri at 6.9%. Utilities also advanced while Italy and the European Commission are to reach a deal on a natural gas price cap following a recent surge in prices, led by Enel (1.3%). Stellantis edged up 0.1% while the EU reached an agreement with China that could halve its hybrid car exports. Elsewhere, Amplifon, Inwit, Saipem, and Buzzi posted strong gains, rising between 2.3% and 6.8%.

The FTSE MIB rose above 49,700 on Friday, recovering some ground after hitting a more than four-month low in the previous session, as falling oil prices offered some relief to markets. US President Donald Trump said Washington would hold off on striking Iran before the November midterm elections, citing productive negotiations aimed at ending the conflict. Banking shares led gains, with UniCredit rising 1.2%, Intesa Sanpaolo gaining 0.8%, Banco BPM adding 1.4% and FinecoBank climbing 2.1%, as investors monitored ongoing consolidation in Italy’s banking sector. MPS faced opposition to its proposed acquisitions of Banco BPM and Banca Generali, while UniCredit’s takeover bid for Commerzbank remained in focus. Industrial and consumer stocks also advanced, with Ferrari up 1.8%, Stellantis gaining 2% and Buzzi rising 2.9%. Despite the intraday recovery, the benchmark was heading for a second consecutive weekly decline.