FTSE MIB Hits Two-Week High
FTSE MIB rose over 1% to 43,900, reaching a two-week high, led by gains in auto and tech stocks like Stellantis (+8%) and STMicroelectronics (+5%). Defence stock Leonardo increased after failed peace talks for Ukraine. Financial shares also rose, with UniCredit and others up 1-2%. Italy's private sector showed strong expansion, with services sector growth at a two-and-a-half-year high.
The FTSE MIB climbed more than 1% to around 43,900 in early trading on Wednesday, hitting a two-week high and outperforming most of its regional peers.
Most key stocks were in the green, led by auto and technology shares, with notable gains from Stellantis (+8%), Ferrari (+1%), STMicroelectronics (+5%), and Telecom Italia (+1%).
Defence stock Leonardo also rose more than 1% after Russia and the US failed to reach a peace deal for Ukraine following a five-hour Kremlin meeting between Putin and Trump’s envoys.
Financial shares were also under upward pressure, with UniCredit, Mediobanca, and Banca Monte dei Paschi di Siena rising between 1% and 2%.
On the macro front, a fresh PMI survey showed Italy’s private sector expanded at its strongest pace since April 2023, with the services sector reaching its highest growth in over two and a half years.
