Italian Stocks Climb to One-Month High

2026-11-04 16:54 By Larissa Caser 1 min. read

Milan’s FTSE MIB closed 2.2% higher at 51,031 on Wednesday, reaching its highest level in a month, as markets assessed a Democratic sweep in the US midterm elections.

The results weighed on global oil prices, as it could complicate President Trump's foreign policy, particularly in additional funding for the war.

Sovereign yields declined, offering some relief to bank's balance sheets while financials tracked a broader rally across the sector.

Merging activity also remains in focus in Milan, with gains in Unicredit (5.5%) and MPS (5.1%).

Intesa rose 4.9%, continuing to be lifted by upbeat sentiment surrounding its bid for MPS, and consequently Mediobanca (3.8%) after that.

Utilities advanced on lower European gas prices.

Tech stocks Technoprobe (-7.1%), Prysmian (-6.9%) and STMicroelectronics (-5.1%) lagged, however, while defence firms Avio (-6.4%), Leonardo (-1%) and Fincantieri (-1.3%) declined on expectations of lower US military spending.

Energy shares also tumbled.



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