Italian equities finished the session lower on Wednesday as weakness in the Technology, Oil & Gas and Utilities sectors pushed the market down at the close in Milan. The Italy 40 index ended the day down 0.76%.
Among individual movers, Avio SpA (BIT:AVI) was the top performer on the index, rising 4.91% or 1.95 points to close at 41.69. Luxury goods maker Moncler SpA (BIT:MONC) gained 4.35% or 2.28 points to finish at 54.66, while Stellantis NV (BIT:STLAM) climbed 3.80% or 0.26 points to end the session at 7.02.
At the other end of the spectrum, Saipem SpA (BIT:SPMI) was the weakest name on the index, falling 4.21% or 0.18 points to close at 4.10. Tenaris SA (BIT:TENR) retreated 3.50% or 0.94 points to 25.93, and STMicroelectronics (BIT:STMMI) slid 3.09% or 1.85 points to finish at 58.00.
Market breadth was relatively balanced: 384 stocks advanced while 364 declined on the Milan Stock Exchange, and 52 stocks finished unchanged.
Commodity markets showed notable softness on the day. Crude oil for July delivery fell 3.91% or 3.67 to close at $90.22 a barrel. Brent oil for August delivery dropped 3.18% or 3.07 to $93.60 a barrel. Precious metals also weakened, with the August Gold Futures contract down 1.47% or 66.49 to trade at $4,468.51 a troy ounce.
In foreign exchange trading, EUR/USD was effectively flat, changing by 0.02% to 1.16, while EUR/GBP moved 0.16% to 0.87. The US Dollar Index Futures was up 0.06% at 99.17.
Overall, the session combined sector-specific pressure in Technology, Oil & Gas and Utilities with declines in energy benchmarks, producing a modest down day for the Italy 40 despite several individual stock advances.