Italian Stocks Pause 3-Day Advance
Milan’s FTSE MIB traded nearly flat around 51,900 on Thursday, pausing a three-day advance as gains in energy and utilities stocks offset renewed weakness in technology shares. Eni advanced 0.6%, while Tenaris and Terna gained 0.4% and 0.8%, respectively. Among banks, Banco BPM rose 0.7% as investors monitored its proposed merger with Credit Agricole, while UniCredit added 0.4%. Poste Italiane also gained 0.5% after reporting record nine-month results, with adjusted operating profit rising 6.6% to €2.68 billion and reaffirming its full-year guidance. Meanwhile, technology stocks came under pressure, with Technoprobe tumbling 5.7%, STMicroelectronics losing 2.3% and Prysmian falling 1.7%. Investors also awaited quarterly results from Enel, Terna and Fincantieri.
Milan’s FTSE MIB traded nearly flat around 51,900 on Thursday, pausing a three-day advance as gains in energy and utilities stocks offset renewed weakness in technology shares. Eni advanced 0.6%, while Tenaris and Terna gained 0.4% and 0.8%, respectively. Among banks, Banco BPM rose 0.7% as investors monitored its proposed merger with Credit Agricole, while UniCredit added 0.4%. Poste Italiane also gained 0.5% after reporting record nine-month results, with adjusted operating profit rising 6.6% to €2.68 billion and reaffirming its full-year guidance.
Meanwhile, technology stocks came under pressure, with Technoprobe tumbling 5.7%, STMicroelectronics losing 2.3% and Prysmian falling 1.7%. Investors also awaited quarterly results from Enel, Terna and Fincantieri.