Italian Stocks Rebound on Friday
Milan’s FTSE MIB fell 0.9% to 49,857 on Friday, recovering from prior-session losses as gains in heavyweight financial and defense stocks provided support. Defense stocks led the advance, with Leonardo surging 4.7%, followed by Fincantieri (3.4%) and Avio (1.2%) after Italy’s confirmation that it plans to increase defense spending to 1.6% of GDP in 2027 from 1.3% this year. Financial stocks outperformed, with UniCredit rising 1.4% after the ECB approved its increased stake in Commerzbank, paving the way for a potential takeover of the German lender, which is expected by the end of the year. Brunello Cucinelli climbed 4.3% after raising its 2026 revenue growth forecast to 12% and reporting double-digit revenue growth in the third quarter, standing out in a luxury industry still grappling with a prolonged slowdown. Campari advanced 2.1%. Moncler, however, fell 2.6% after Santander cut its price target on the stock. Tech stocks remained under pressure, led by Technoprobe (-5.2%).
Milan’s FTSE MIB fell 0.9% to 49,857 on Friday, recovering from prior-session losses as gains in heavyweight financial and defense stocks provided support. Defense stocks led the advance, with Leonardo surging 4.7%, followed by Fincantieri (3.4%) and Avio (1.2%) after Italy’s confirmation that it plans to increase defense spending to 1.6% of GDP in 2027 from 1.3% this year. Financial stocks outperformed, with UniCredit rising 1.4% after the ECB approved its increased stake in Commerzbank, paving the way for a potential takeover of the German lender, which is expected by the end of the year.
Brunello Cucinelli climbed 4.3% after raising its 2026 revenue growth forecast to 12% and reporting double-digit revenue growth in the third quarter, standing out in a luxury industry still grappling with a prolonged slowdown. Campari advanced 2.1%. Moncler, however, fell 2.6% after Santander cut its price target on the stock. Tech stocks remained under pressure, led by Technoprobe (-5.2%).