Italian shares closed higher on Friday as a marked advance in several cyclical sectors propelled the benchmark index to a new record. The Investing.com Italy 40 rose 1.77% at the close in Milan, reaching an all-time high.
Sector gains were concentrated in Technology, Financials and Chemicals, where individual large-cap moves helped push the broader market upward. The session's strongest performers on the index included Stellantis NV (BIT:STLAM), STMicroelectronics (BIT:STMMI) and Ferrari NV (BIT:RACE).
Top performers
- Stellantis NV (BIT:STLAM) climbed 6.79% - a rise of 0.47 points - to finish at 7.44.
- STMicroelectronics (BIT:STMMI) gained 6.55%, up 2.29 points to close at 37.25; the stock also reached 52-week highs during the session.
- Ferrari NV (BIT:RACE) advanced 5.24%, adding 16.00 points to end the day at 321.10.
Lagging names
- Eni SpA (BIT:ENI) was the largest decliner among the index constituents, falling 7.03% or 1.64 points to close at 21.76.
- Saipem SpA (BIT:SPMI) declined 5.35%, down 0.22 points to 3.87 at the close.
- Tenaris SA (BIT:TENR) slipped 2.09%, a drop of 0.52 points to end at 24.42.
Market breadth on the Milan exchange was positive: 526 stocks advanced, 215 declined and 51 finished unchanged.
Commodities and currencies
Commodities trading saw notable volatility. Crude oil for May delivery fell 12.42%, down $11.76 to $82.93 a barrel. Brent for June delivery dropped 10.73%, losing $10.66 to settle at $88.73 a barrel. In contrast, the June Gold Futures contract rose 1.75% - an increase of $83.91 - to trade at $4,892.21 per troy ounce.
In currency markets, EUR/USD was effectively unchanged, moving 0.12% to 1.18, while EUR/GBP was flat at 0.87 with a 0.03% change. The US Dollar Index Futures was lower by 0.26% at 97.77.
This trading day combined strong sector leadership in technology and autos with pronounced weakness in energy-related names, leaving the national benchmark at a record closing level.