The FTSE MIB Index fell 0.7% to close at 27,483 on Tuesday, pressured by the prospect of higher interest rates by the Federal Reserve and rising bond yields worldwide. Shares in the technology sector traded over 2% lower, driven by STMicroelectronics (-2.1%). At the same time, Telecom Italia lost 3.2% after the firm’s general manager Pietro Labriola announced he will outline his plans to revamp the telecom and strategize its fixed-line assets, jeopardizing the EUR 33 billion offer by US private equity firm KKR & Co. Meanwhile, lockdowns in China due to the spread of the Omicron variant weighed down Italian luxury goods in their biggest market, driven by Moncler (-2.6]%) and Brunello Cucinelli (-3%).
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 January of 2022.
The Italy Stock Market Index (IT40) is expected to trade at 26732.50 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 24693.05 in 12 months time.