Piazza Affari closed lower, in line with the other European stock exchanges and in the wake of Wall Street. The Ftse Mib index loses 0.22% to 43,259 points. The focus is on the release of several economic data this week, with markets now expecting the Fed to cut interest rates at its meeting on December 10th. Investors are also monitoring progress on a potential peace deal in Ukraine, with US special envoy Steve Witkoff visiting Moscow to meet President Vladimir Putin and other Kremlin officials.
Banca Mps weighs heavily on the Milanese stock market, falling for the third consecutive session. The stock lost 2.87% with investors continuing to sell the stock in the wake of the details emerging from the investigation into the takeover of Mediobanca (+0.09%). In no particular order the other banks with Intesa -0.2% and Unicredit +1.15%. General Insurance -0.99%. Prysmian -1.71% and Leonardo -2.62% down. In the automotive sector, Stellantis reverses course, gaining 0.35%. CEO Antonio Filosa commented on the letter that German Chancellor Merz sent to the President of the European Commission, von der Leyen to ask to “soften” the 2035 ban on combustion cars, underlining that he “welcomes the German government’s support for the revisions of European regulations”. “We now have a great opportunity to rethink the rules and reconcile Europe’s three key objectives: decarbonisation, industrial resilience that protects jobs and strategic autonomy, and affordability” concluded Filosa. Among the main energy companies, Eni +0.29% and Enel +0.01%, Saipem +1.28%. Tenaris +1.32% in the spotlight leading the increases.