Stock Markets February 20, 2026

Milan Stocks End Higher as Chemicals, Financials and Telecoms Drive Broad Gains

Italy 40 climbs 1.54% with Moncler surging and Unipol hitting a five-year peak as commodity and currency moves remain muted

By Nina Shah
Milan Stocks End Higher as Chemicals, Financials and Telecoms Drive Broad Gains

Italian equities closed higher on Friday, with the Italy 40 index up 1.54% as strength in the Chemicals, Financials and Telecoms sectors lifted the market. Moncler led individual stock gains, while Unipol reached a five-year high. Energy and metal commodities showed mixed moves and major currency pairs were largely unchanged.

Key Points

  • Italy 40 index closed up 1.54%, led by gains in the Chemicals, Financials and Telecoms sectors.
  • Moncler (BIT:MONC) was the top individual gainer, rising 13.41% to 57.00; Unipol (BIT:UNPI) climbed 8.67% to reach a five-year high of 21.13.
  • Market breadth favored risers 448 to 256 with 50 stocks unchanged; commodities and major currency pairs showed only modest movement.

Stocks traded in Milan closed the week on a positive note as sector-level advances in Chemicals, Financials and Telecoms supported an overall uptick in the market. At the close, the Italy 40 index was up 1.54%.

The session's top performer was Moncler SpA (BIT:MONC), which climbed 13.41% - a rise of 6.74 points - to finish at 57.00. Financial names also posted notable gains: Unipol Gruppo Finanziario Spa (BIT:UNPI) advanced 8.67% or 1.68 points to end at 21.13, while Bper Banca SpA (BIT:EMII) rose 4.07% or 0.49 points to close at 12.41.

On the downside, Tenaris SA (BIT:TENR) was the weakest among the major movers, dropping 4.16% or 0.96 points to settle at 22.14. Saipem SpA (BIT:SPMI) declined 2.12% or 0.07 points to 3.42, and Ferrari NV (BIT:RACE) slipped 0.61% or 1.90 points to 309.20.

Market breadth in Milan favored advancers: 448 stocks finished higher against 256 decliners, while 50 issues were unchanged at the close.

Unipol's shares stood out for hitting a five-year high during the session, recording the 8.67% increase to reach 21.13.


Commodities trading showed modest variations. Crude oil for April delivery fell 0.14% or 0.09 to $66.31 a barrel. Brent oil for April slipped 0.04% or 0.03 to $71.63 a barrel. Precious metals were stronger: the April Gold Futures contract rose 1.89% or 94.40 to trade at $5,091.80 a troy ounce.

Currency markets were relatively steady. EUR/USD was unchanged 0.10% to 1.18, while EUR/GBP was unchanged 0.13% to 0.87. The US Dollar Index Futures moved lower, down 0.17% to 97.69.


This close reflects a session in which select consumer goods, banking and telecom stocks outperformed, while energy-related and industrial names were mixed. Commodity price movement was limited, and major currency pairs showed little directional change by the end of trading.

Risks

  • Sector concentration risk: Strong gains were driven by a limited number of sectors (Chemicals, Financials, Telecoms), which could leave the market sensitive if those sectors reverse.
  • Commodity price sensitivity: Movements in crude, Brent and gold - though modest in this session - can introduce volatility for energy and materials-linked stocks.
  • Market breadth uncertainty: While advancers outnumbered decliners, a sizeable number of decliners (256) and unchanged issues (50) indicate uneven participation across the market.

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