The FTSE MIB Index Closes 0.33% Higher

The FTSE MIB Index went up by 168 points or 0.33 percent on Wednesday to close at 51923 points. The rise was led by Technoprobe (7.27%), STMicroelectronics (5.28%) and Prysmian (4.15%). On the downside, the weakerst performers were Stellantis N.V. (-3.39%), Fincantieri (-3.11%) and A2A (-2.48%).

Milan’s FTSE MIB closed 0.4% higher at 51,947 on Wednesday, remaining at its highest level since late September, as renewed optimism surrounding AI-related stocks offset losses among heavyweight financials. Tech shares Technoprobe (7.7%), STMicroelectronics (5.2%) and Prysmian (4.3%) advanced, supported by an upbeat outlook from CoreWeave and anticipation ahead of Anthropic's IPO. Telecom Italia also climbed 2.4% after reporting third-quarter core earnings broadly in line with expectations. Energy firms also gained, tracking higher oil prices. Financial and banking stocks, however, weighed on the benchmark as sovereign yields rose on growing expectations of a Fed hike, with sharper declines in Banca Mediolanum (-2.5%), Intesa (-1.4%) and MPS (-1.3%). A2A extended its decline, dropping more than 3%. Stellantis fell 3% after selling its Toronto factory, prompting Canadian Prime Minister Mark Carney to threaten legal and policy measures to protect laid-off workers.

Milan’s FTSE MIB rose 0.2% towards 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%.