The FTSE MIB index erased early losses to close 2.3% higher at 22,220 on Friday, notching a weekly gain of 2% with support from healthcare and utilities shares as investors continued to assess inflation expectations and recession concerns. After surging in the last session, healthcare stocks jumped 4.5% on average, led by an 8% surge for Recordati Ord. At the same time, Italgas and Terna gained 5.3% and 2.5%, respectively, extending the rebound for the utilities sector after Russia’s cut on Italian gas supply sent the sector to one-year lows this week. Lastly, Moncler shares rose 5% after the PBoC increased liquidity in its banking stimulus to stimulate the country’s recovery from Covid lockdowns.
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 20943.17 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 18621.47 in 12 months time.