The Milan market closed higher on Tuesday, with the Investing.com Italy 40 index up 0.72% at the end of trading in Milan. Strength in the Financials, Utilities and Oil & Gas sectors underpinned the advance, lifting a number of major stocks.
Top gainers
- Bper Banca SpA (BIT:EMII) led the index's risers, climbing 2.16% - a rise of 0.26 points - to finish at 12.46.
- UniCredit SpA (BIT:CRDI) added 2.14%, or 1.38 points, to close at 65.77.
- Intesa Sanpaolo SpA (BIT:ISP) was up 1.94%, gaining 0.11 points to end the session at 5.78.
Largest decliners
- DiaSorin SpA (BIT:DIAS) fell 3.14%, a drop of 1.88 points, to close at 57.94.
- Fincantieri SpA (BIT:FCT) declined 2.95%, or 0.36 points, to finish at 11.86.
- Moncler SpA (BIT:MONC) slid 2.55%, down 1.40 points, to 53.58 at the close.
Market breadth on the Milan Stock Exchange was skewed toward declines, with 395 stocks falling versus 306 advancing; 52 issues finished unchanged.
Commodity markets exhibited pronounced moves during the session. Crude oil for June delivery rallied 3.70% - a gain of 3.57 - to $99.94 a barrel. Brent oil for July delivery rose 2.56%, up 2.60, to $104.29 a barrel. By contrast, the June Gold Futures contract dropped 2.03%, a fall of 95.46, trading at $4,598.24 a troy ounce.
Currency markets were largely steady. The euro held near 1.17 against the U.S. dollar, recorded as unchanged at 0.08% to 1.17, while EUR/GBP was reported unchanged at 0.12% to 0.87. The U.S. Dollar Index Futures was up 0.12%, at 98.44.
The session left Italian benchmark equities modestly higher overall, led by financial names and supported by gains in utilities and energy-related stocks, even as a number of individual large-cap names recorded outsized losses.
Summary
The Investing.com Italy 40 rose 0.72% at the close in Milan, with banks among the strongest performers and several industrial and luxury firms among the largest decliners. Commodities displayed significant moves, notably for crude and Brent oil, while gold fell and currencies were relatively unchanged.