The Milan stock market witnessed an overall positive day on Thursday, closing with the Investing.com Italy 40 index registering an increase of 1.45%. This upward momentum was mainly supported by strong performances in sectors including Chemicals, Utilities, and Financials, which helped lift several key stocks.
Within the index, Buzzi Unicem (BIT:BZU) led the gains, surging 3.89%, equivalent to a 1.90-point increase, finishing at 50.80. Nexi SpA (BIT:NEXII) closely followed, climbing 3.86% or 0.14 points to 3.88 at the market's close. Joining the list of top performers, Azimut Holding SpA (BIT:AZMT) also posted a strong gain of 3.02%, adding 1.09 points to close at 37.24, a new all-time high for the stock.
Conversely, some companies faced declines. Leonardo SpA (BIT:LDOF) experienced a decrease of 3.10%, dropping 1.82 points to trade at 56.86. Similarly, Inwit (BIT:INWT) declined by 0.54% (0.04 points) ending at 7.36, and Eni SpA (BIT:ENI) slipped 0.27% or 0.04 points to close at 16.47.
Out of all stocks traded on the Milan exchange, 511 recorded increases while 202 fell, with 44 remaining unchanged, illustrating a broadly positive market sentiment for the session.
Commodity markets presented a mixed picture: March-delivery crude oil prices dropped 1.96% (1.19 points), settling at $59.43 a barrel. Brent oil futures also declined 1.85% (1.21 points), closing at $64.03 per barrel. In contrast, the February gold futures contract gained 1.02%, rising by 49.49 points to reach $4,886.99 per troy ounce.
On the currency front, the euro strengthened against the US dollar, with EUR/USD increasing 0.44% to 1.17, while EUR/GBP remained relatively flat, unchanged by 0.02% at 0.87. The US Dollar Index Futures fell by 0.37% to 98.20, signaling slight weakness in the US currency.