The FTSE MIB Index closed 0.3% down at 25,938.52 on Friday, dragged by lower American equities, fears of the Omicron variant, and expectations of tighter monetary policy from the Federal Reserve. After a volatile session, the index erased earlier gains as US stocks fell from lower than expected non-farm payrolls data and hawkish remarks by Fed policymaker James Bullard. Meanwhile, the spread of the Omicron variant and further pandemic related restrictions across Europe led investors to be hesitant about global economic recovery. On the corporate front, Telecom Italia fell 2.2%, as investors are still unsure about the firm’s leadership after the departure of its CEO. The telecom has not a manifested a strategy regarding KKR & Co’s EUR 33 billion acquisition offer.
Historically, the Italy Stock Market Index (IT40) reached an all time high of 50108.56 in March of 2000. Italy Stock Market Index (IT40) - data, forecasts, historical chart - was last updated on December of 2021.
The Italy Stock Market Index (IT40) is expected to trade at 25300.36 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 23391.54 in 12 months time.