Market close in Milan
Italian shares finished the session lower on Monday, with the Investing.com Italy 40 falling 1.87% at the close in Milan. Weakness in the Financials, Healthcare and Utilities sectors weighed on the market overall.
Top and bottom movers
The strongest performers on the Italy 40 were:
- Eni SpA (BIT:ENI) - up 3.63% or 0.71 points to 20.37 at the close.
- Leonardo SpA (BIT:LDOF) - up 2.50% or 1.42 points to 58.22.
- Italgas SpA (BIT:IG) - up 1.55% or 0.17 points to 11.11.
The weakest names in the session included:
- Stellantis NV (BIT:STLAM) - down 7.16% or 0.50 points to 6.44 at the close.
- Brunello Cucinelli (BIT:BCU) - down 4.57% or 3.76 points to 78.58.
- Unipol Gruppo Finanziario Spa (BIT:UNPI) - down 4.25% or 0.90 points to 20.26.
Market breadth and notable milestones
Declining issues outnumbered advancing ones on the Milan Stock Exchange by 493 to 304, while 41 stocks finished unchanged. Shares of Eni SpA rose to a five-year high, closing up 3.63% at 20.37.
Commodities and currencies
Commodity markets moved notably alongside equities. Crude oil for April delivery gained 5.36%, rising 3.59 to $70.61 a barrel. Brent crude for May delivery climbed 5.82%, up 4.24 to $77.11 a barrel. The April Gold Futures contract increased 1.36% or 71.11 to trade at 5,319.01 a troy ounce.
In currency and index futures trading, EUR/USD was down 1.02% to 1.17, while EUR/GBP was recorded at 0.87 with an unchanged 0.38%. The US Dollar Index Futures rose 0.99% to 98.53.
Takeaway
Monday's session in Milan was broadly negative, driven by losses in Financials, Healthcare and Utilities, even as several energy and industrial names posted gains. Movements in oil, gold and currency markets accompanied the equity declines.