FTSE MIB Edges Lower
Milan’s FTSE MIB edged lower at around 51,700 on Friday, extending losses from the previous session, as rising crude prices and elevated bond yields weighed on risk appetite. Investors also digested a fresh batch of corporate earnings, with Generali falling 1.5% despite higher nine-month profits and reaffirming confidence in exceeding its 2025—2027 targets. Fincantieri plunged 4.2% despite raising its 2026 EBITDA guidance, while Enel slipped 1% as weaker domestic performance offset growth abroad. On the upside, Eni gained 1.4%, while Banco BPM advanced 1.3% as investors assessed its board's decision to open discussions with Crédit Agricole over a proposed merger. Unipol was little changed after reporting a 12.4% increase in nine-month net profit. Meanwhile, investors awaited S&P Global's review of Italy's BBB+ sovereign rating, which carries a positive outlook. For the week, the benchmark index was on track to post its third consecutive weekly gain.
Milan’s FTSE MIB edged lower at around 51,700 on Friday, extending losses from the previous session, as rising crude prices and elevated bond yields weighed on risk appetite. Investors also digested a fresh batch of corporate earnings, with Generali falling 1.5% despite higher nine-month profits and reaffirming confidence in exceeding its 2025—2027 targets. Fincantieri plunged 4.2% despite raising its 2026 EBITDA guidance, while Enel slipped 1% as weaker domestic performance offset growth abroad. On the upside, Eni gained 1.4%, while Banco BPM advanced 1.3% as investors assessed its board's decision to open discussions with Crédit Agricole over a proposed merger.
Unipol was little changed after reporting a 12.4% increase in nine-month net profit. Meanwhile, investors awaited S&P Global's review of Italy's BBB+ sovereign rating, which carries a positive outlook. For the week, the benchmark index was on track to post its third consecutive weekly gain.