The FTSE MIB index closed 1.2% lower at 21,830 on Wednesday, remaining volatile amid renewed fears of economic contraction. Outlooks of higher borrowing costs pressured the tech sector in Milan, led by a 2.1% decline for STMicroelectronics. Auto manufacturers were also sharply in the red, with CNH Industrial and Stellantis down 4.3% and 2.8%, respectively, while a 2.4% decline by UniCredit drove the heavyweight banks to decline. Meanwhile, energy shares outperformed the broader index and closed in the green, supported by a 0.9% rise for Eni as EU officials expect Europe to be able to replace 2/3 of Russian energy imports by the end of the year.
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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 June of 2022.
The Italy Stock Market Index (IT40) is expected to trade at 21401.48 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 19024.28 in 12 months time.