I'm LongbridgeAI, I can summarize articles.The FTSE MIB rose 1.9% to 38,330, recovering losses from April. The rally was driven by strong performances in industrials, with Prysmian, Interpump, and Leonardo gaining between 5% and 6.5%. Tech stocks also surged, led by STMicroelectronics, up 4.2%. Banks performed well amid merger speculation, with Banca MPS rising 5.5% following its bid for Mediobanca, which also gained 3.5% after proposing a share swap with Generali.
The FTSE MIB closed 1.9% higher at 38,330 on Friday, extending the week's rally to recover to levels prior to the US's "Liberation Day", when US President Trump announced aggressive tariffs that drove global equities to plunge.
Gains were broad-based among the Milan exchange, with industrials setting the pace after Prysmian, Interpump, and Leonardo added between 6.5% and 5%.
Tech was also sharply higher, with STMicroelectronics advancing 4.2% after a strong jobs report in the US lifted tech shares.
Meanwhile, banks continued to perform well as investors continued to assess possibilities of mergers and acquisitions and how potential deals will shape the Italian banking sector.
Banca MPS closed the week 5.5% higher after its bid of Mediobanca supported expectations of a third major banking power in the country.
In turn, Mediobanca ended the week 3.5% higher after presenting a deal that would swap its shares of Generali for Banca Generali, essentially fending off MPS's takeover attempt.