The FTSE MIB Index Closes 1.17% Higher

The FTSE MIB Index went up by 572 points or 1.17 percent on Wednesday to close at 49644 points. The rise was led by Prysmian (4.15%), Banco BPM SPA (3.09%) and Technoprobe (3.00%).

Italy’s FTSE MIB closed 1.2% higher at 49,643 on Wednesday, rebounding from a five-month low, lifted by gains in tech and heavyweight financials. Prysmian (2.8%), Technoprobe (2.8%) and STMicroelectronics (2.6%) advanced, tracking optimism across the sector following upbeat results from SpaceX and Super Micro Computer. Financials also outperformed while discussions on the sector’s contribution to Italy’s public finances were postponed until next week. Intesa rose 1.3% amid reports that the firm is working on significant risk transfers to hedge over €5 billion in assets, despite concerns over debt and geopolitical tensions. Energy shares gained on a rebound in oil prices, led by Saipem (1.8%) and ENI (1.8%). Utilities also advanced, with Snam rising 1.2%. Stellantis dropped 0.4% while asset managers increased short positions. Defense stocks declined as trilateral talks involving the US, Russia and Ukraine on a potential peace deal resumed, with Leonardo dropping 2% to lead losses.

Italy’s FTSE MIB rose 0.3% to 49,200 on Wednesday, after briefly hitting a five-month low in the previous session, as gains in technology, energy and industrial stocks lifted the index. Prysmian advanced 2.6%, while Technoprobe climbed 2.7% and STMicroelectronics gained 1.6%. Among energy shares, Eni added 1.4%, while its Norwegian subsidiary Vår Energi reported a doubling of third-quarter operating profit and raised its dividend. Saipem also rose 1.5%, while Moncler went up 1% ahead of its third quarter results. However, losses in utilities and banks limited the advance, with Enel down 0.9% and UniCredit and Intesa Sanpaolo falling 0.3% and 0.2%, respectively. Other laggards were Nexi, which dropped 1.4%, and Stellantis, which lost 0.2%.