The FTSE MIB index closed slightly below the flatline at 21,344 on Monday, remaining close to the 17-month lows touched last week as investors continued to assess recession risks amid the outlook of tighter monetary policy in Q3. Sharp losses among banking and tech sectors offset a rebound for energy stocks in Milan. Intesa Sanpaolo shares fell over 2% to lead the laggards in the financial sector, after the Financial Times reported that the ECB is working on measures to prevent banks from profiting excessively from higher interest rates. At the same time, STMicroelectronics led the tech sector lower and fell nearly 2%, tracking chip makers in Europe after JPMorgan downgraded Austrian ams-OSRAM. On the other hand, Eni and Tenaris added 2.4% and 3.7%, respectively, amid a European rally in oil companies.
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 July of 2022.
The Italy Stock Market Index (IT40) is expected to trade at 20526.09 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 18228.33 in 12 months time.