Italian stocks closed higher on Thursday, led by advances in the Technology, Telecoms and Travel & Leisure sectors. At the end of trading in Milan the Italy 40 index rose 1.16% to register a new all-time high.
The session's strongest performers included STMicroelectronics (BIT:STMMI), which climbed 5.41% or 2.83 points to finish at 55.18. Stellantis NV (BIT:STLAM) added 3.54% or 0.23 points to close at 6.70, while Banca Mediolanum SpA (BIT:BMED) rose 2.84% or 0.55 points to end the day at 19.76.
On the downside, Fincantieri SpA (BIT:FCT) was the weakest large-cap name in late trade, slipping 1.64% or 0.19 points to 11.40 at the close. DiaSorin SpA (BIT:DIAS) fell 1.53% or 1.08 points to finish at 69.46, and Snam SpA (BIT:SRG) declined 1.00% or 0.06 points to trade at 6.34.
Market breadth in Milan favored advancing issues: 488 stocks rose while 275 declined and 38 finished unchanged.
Notably, shares of STMicroelectronics reached five-year highs during the session, reflecting the stock's 5.41% intraday gain to 55.18 at the close.
Commodities traded lower: crude oil for June delivery fell 0.30% or 0.30 to $100.72 a barrel, and Brent oil for July delivery dropped 0.84% or 0.89 to $104.74 a barrel. The June Gold Futures contract declined 0.52% or 24.28 to trade at $4,682.42 a troy ounce.
In currencies, EUR/USD was unchanged 0.32% to 1.17, while EUR/GBP was unchanged 0.06% to 0.87. The US Dollar Index Futures was up 0.23% at 98.64.
Summary of key moves:
- Italy 40 closed up 1.16%, reaching an all-time high.
- Top gainers included STMicroelectronics (+5.41%), Stellantis (+3.54%), and Banca Mediolanum (+2.84%).
- Notable decliners included Fincantieri (-1.64%), DiaSorin (-1.53%), and Snam (-1.00%).
The day combined strong sector leadership from technology and consumer-facing stocks with declines in select industrial, healthcare and utilities names, while major commodity contracts and gold moved lower and the dollar strengthened modestly.