Bullish
FTSE MIB rises 1.6% to 52,428, led by defense stocks and positive US labor data.
In the past 24 hours, the FTSE MIB index increased by 1.6% to close at 52,428 points. This gain was primarily driven by strong performances in defense stocks and favorable US labor market data, which alleviated concerns about potential Federal Reserve rate hikes.
Key points
- Defense stocks surged, with Fincantieri up 6.8%, Leonardo up 6.5%, and Avio up 1.5%.
- Financial stocks gained as weaker-than-expected US labor data reduced expectations of further Fed rate hikes; UniCredit led with a 4.1% increase.
- Energy stocks advanced, with A2A rising 3.6% and Eni gaining 1.6% after announcing a fusion energy joint venture.
- Technology stocks declined; STMicroelectronics fell 0.9% and Prysmian decreased by 0.7%.
Sources
AI-generated from public news sources. Not financial advice.
