Business
European stock markets rally, Milan closes up 1.29%
European financial markets posted broad gains on the day, with Milan closing up 1.29% and the FTSE MIB index at 49,186 points.
The Milan Stock Exchange closed in positive territory with the FTSE MIB index reaching 49,186 points, marking a gain of 1.29% from the previous close. During the session, the index registered fluctuations, with movements ranging between 0.25% and 0.32% in the early phases of the day before accelerating upwards in the closing stages. The overall performance of the session was characterised by European market movements in the context of anticipated decisions from the European Central Bank and the U.S. Federal Reserve.
Among the stocks leading gains at Piazza Affari were Avio and Technoprobe, which registered strong buying from investors. Stellantis showed a significant jump following the publication of quarterly results. Moving in the opposite direction were Tim and Eni, which closed in negative territory. The spread between Italian government bonds and German Bunds narrowed to 112 basis points at the close.
In the commodities markets, crude oil registered downward movements, while natural gas touched 100 euros per megawatt-hour in Amsterdam, a level not reached since 2022 according to reports. The euro showed weakness against the U.S. dollar. Yields on European government bonds recorded a significant decline during the session.
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In other European markets, the London exchange closed in negative territory, with HSBC shares weighing particularly on the performance of the British index, also influencing the listing of other financial venues. Wall Street moved cautiously ahead of monetary policy decisions expected for the period in question.
In the technology sector, according to reports, information relating to SK Hynix's quarterly results and news about Anthropic ahead of a possible Wall Street entry fuelled investor purchases. These dynamics supported positive sentiment towards the technology sector during the session.
The overall performance of European stock markets reflected a constructive market orientation despite uncertainty linked to international monetary policy decisions anticipated for the day and results that major technology companies were to publish in the days following.