Stock Markets April 9, 2026 12:05 PM

Milan closes higher as oil and industrial names lead gains; Italy 40 rises 0.60%

Energy, chemicals and industrial stocks lift Italian benchmark to a one-month peak

By Leila Farooq
Milan closes higher as oil and industrial names lead gains; Italy 40 rises 0.60%

Italian equities finished higher on Thursday, with the Investing.com Italy 40 climbing 0.60% to reach a one-month high. Strength in the Oil & Gas, Chemicals and Industrials sectors powered the advance, while market breadth was mixed across the Milan exchange. Key stocks including Eni, Leonardo and Tenaris posted notable gains; Recordati, Brunello Cucinelli and Banca Mediolanum were among the laggards. Commodity prices, particularly crude oil, moved higher and the dollar weakened versus a basket of currencies.

Key Points

  • The Investing.com Italy 40 gained 0.60%, closing at a one-month high as energy, chemicals and industrial sectors led the market.
  • Top individual gainers included Eni (+3.96%), Leonardo (+3.14%) and Tenaris (+2.60%), with Tenaris reaching all-time highs in the session.
  • Market breadth was mixed - 342 decliners versus 334 advancers on the Milan exchange - and commodity moves were significant, with crude oil near $98.00 a barrel.

Italian stocks ended the trading day in Milan in positive territory on Thursday, driven by rallies in energy, chemicals and industrial shares. The Investing.com Italy 40 rose 0.60%, finishing at a new one-month high.

Among the strongest performers on the Italy 40, Eni SpA (BIT:ENI) led gains, advancing 3.96% - a rise of 0.93 points - to close at 24.43. Aerospace and defense group Leonardo SpA (BIT:LDOF) added 3.14%, or 1.81 points, to finish at 59.44. Steelmaker Tenaris SA (BIT:TENR) climbed 2.60%, up 0.65 points, to end the session at 25.68; Tenaris shares reached all-time highs during the trading day.

Not all names moved higher. Recordati (BIT:RECI) was the session's heaviest decliner, slipping 1.97% - down 0.98 points - to close at 48.70. Luxury apparel maker Brunello Cucinelli (BIT:BCU) fell 1.39% or 1.12 points to finish at 79.66. Regional lender Banca Mediolanum SpA (BIT:BMED) declined 1.08%, a loss of 0.20 points, to close at 18.30.

On market breadth, falling stocks outnumbered advancers on the Milan Stock Exchange by 342 to 334, while 43 issues finished unchanged.

Commodity markets showed notable moves that paralleled strength in energy-related sectors. Crude oil for May delivery rose 3.80%, gaining 3.59 to settle at $98.00 a barrel. Brent oil for June delivery increased 1.00%, up 0.95 to $95.70 a barrel. In metals, the June Gold Futures contract was up 0.85%, rising 40.40 to trade at $4,817.60 a troy ounce.

Currency and dollar benchmarks recorded modest changes. EUR/USD was unchanged 0.39% to 1.17, while EUR/GBP was unchanged 0.03% to 0.87. The US Dollar Index Futures stood lower, down 0.42% at 98.51.


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Risks

  • Commodity price volatility - sharp moves in crude and Brent oil can affect energy and industrial sector earnings and stock performance.
  • Sector concentration - gains were driven by Oil & Gas, Chemicals and Industrials, leaving other sectors exposed if commodity-driven momentum reverses.
  • Market breadth imbalance - nearly as many falling stocks as advancing ones suggests uneven participation across the Milan market and potential short-term volatility.

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