The FTSE MIB Index Closes 0.36% Higher

The FTSE MIB Index went up by 178 points or 0.36 percent on Thursday to close at 50002 points. The rise was led by Prysmian (6.66%), Leonardo SpA (4.04%) and Buzzi Unicem (2.71%). On the downside, the weakerst performers were Davide Campari-Milano (-6.46%), Banca Mediolanum (-1.00%) and Stellantis N.V. (-0.96%).

Milan’s FTSE MIB extended gains to close 0.4% higher at 50,002 on Thursday, as investors digested the ECB’s policy decision and MPS's shareholder meeting. The central bank kept rates unchanged, noting no second-round effects from higher energy prices so far while signaling that another hike in December was possible. Financial stocks were mostly lower as attention turned to MPS's (0.2%) shareholders that rejected CEO Lovaglio's takeover bid of Banca Generali and Banco BPM (-0.4%), leaving Intesa (-0.5%) that much closer to take control of the Siena bank. Meanwhile, Italy’s 2027 budget, which includes higher taxes on the financial and energy sectors, was approved. Energy stocks ENI and Saipem traded near the flatline. Prysmian surged 6.6%, supported by its results and upward revisions to estimates. Defense shares Leonardo (3.9%), Fincantieri (1.9%) and Avio (1.8%) also traded higher. STMicroelectronics rose 1.9% after reporting better-than-expected Q3 operating profit.

Italy’s FTSE MIB edged lower to around 49,700 on Thursday, pausing a four-day winning streak as investors assessed corporate earnings ahead of the European Central Bank’s policy decision. Davide Campari-Milano tumbled 5.8% despite a 3.4% increase in Q3 organic revenue that beat expectations, as the company flagged a slowdown in North America. STMicroelectronics fell 1.2% despite reporting better-than-expected Q3 operating profit, supported by demand from AI data centers and satellite operators. On the upside, Prysmian gained 1.1% after posting record quarterly adjusted EBITDA and raising its full-year guidance. Meanwhile, the ECB is widely expected to keep interest rates unchanged. Domestically, September unemployment data and October consumer and business confidence figures are also due later today.