FTSE MIB Hits 4-Week High
Milan’s FTSE MIB rose over 1% to around 50,500 on Wednesday, hitting its highest level since early October, supported by broad gains among financial stocks. The advance came as global markets reacted to Democratic victories in both chambers of the US Congress, which sent global yields lower amid expectations of greater political gridlock and constraints on fiscal expansion. Among financials, UniCredit climbed 2.2% and Intesa Sanpaolo added 2.4%. FinecoBank rose 3.3%, followed by BPER Banca (+3%) and Banca Mediolanum (+2.3%). Meanwhile, STMicroelectronics gained 1.43% after unveiling a unified STM32 microcontroller platform. Buzzi rose 2.5% and Technoprobe advanced 2.1%, while energy stocks posted modest gains, with Eni up 0.4% and Saipem adding 0.5%. On the downside, Ferrari fell 2.3%, reversing part of Tuesday’s rally following an earnings beat and an upgrade to its full-year guidance. Leonardo also underperformed, dropping 2.9%.
Milan’s FTSE MIB rose over 1% to around 50,500 on Wednesday, hitting its highest level since early October, supported by broad gains among financial stocks. The advance came as global markets reacted to Democratic victories in both chambers of the US Congress, which sent global yields lower amid expectations of greater political gridlock and constraints on fiscal expansion. Among financials, UniCredit climbed 2.2% and Intesa Sanpaolo added 2.4%. FinecoBank rose 3.3%, followed by BPER Banca (+3%) and Banca Mediolanum (+2.3%).
Meanwhile, STMicroelectronics gained 1.43% after unveiling a unified STM32 microcontroller platform. Buzzi rose 2.5% and Technoprobe advanced 2.1%, while energy stocks posted modest gains, with Eni up 0.4% and Saipem adding 0.5%. On the downside, Ferrari fell 2.3%, reversing part of Tuesday’s rally following an earnings beat and an upgrade to its full-year guidance. Leonardo also underperformed, dropping 2.9%.