The FTSE MIB Index Closes 0.84% Higher

Milan’s FTSE MIB rose 0.5% to above 52,000 on Wednesday, extending its advance for a third consecutive session and reaching its highest level since late September, as technology stocks led the gains. Technoprobe surged 6.0%, while STMicroelectronics gained 4.1% and Prysmian advanced 2.7%. The strong performance came amid improved sentiment toward the technology sector, following an upbeat outlook from CoreWeave, which has been at the centre of concerns over a potential AI bubble. Meanwhile, Telecom Italia added 2.3% after reporting third-quarter core earnings broadly in line with expectations. Among other gainers, Saipem rose 1.6%, while Unipol and Azimut Holding both advanced 1.5%. Banking stocks were mixed, with UniCredit up 0.5%, while Intesa Sanpaolo slipped 0.7% and Banco BPM lost 0.4%. On the downside, Nexi fell 0.9%, A2A dropped 0.8% and Banca Mediolanum declined 0.8%.

The FTSE MIB Index rose 431 points or 0.84 percent on Tuesday to close at 51831 points. Leading the gains are Fincantieri (3.29%), Avio (3.21%) and Bper Banca (3.20%). Top losers were A2A (-3.69%), Stellantis N.V. (-3.01%) and Saipem (-1.16%).

Milan’s FTSE MIB closed 0.7% higher at 51,755 on Tuesday, extending the rally from the previous session and reaching its highest level since late September, as investors continued to assess developments in Italy’s banking sector. Softer oil prices also helped boost market sentiment. UniCredit gained 2.4% amid expectations of unconditional EU antitrust approval for its acquisition of Commerzbank. Banco BPM fell 0.8% while investors continue to digest Crédit Agricole's proposal to merge its Italian subsidiary with the lender, potentially creating Italy’s third-largest banking group. Banca Mediolanum rose 0.9% on upbeat results. A recovery in tech shares also provided support, with Technoprobe (1.7%), Prysmian (0.2%) and STMicroelectronics (1.3%) all advancing. On the downside, Stellantis fell 3.2% to the bottom of the benchmark, while A2A shares slumped 2.5% following disappointing results.