Italian stocks finished the trading day lower on Thursday, pressured by declines across the Chemicals, Financials and Industrials sectors. At the close in Milan the Investing.com Italy 40 index was down 0.81%.
Among individual movers, Saipem SpA (BIT:SPMI) led gains on the index, adding 5.80% or 0.21 points to close at 3.81. Recordati (BIT:RECI) rose 4.75% or 2.20 points to finish at 48.48, while Tenaris SA (BIT:TENR) advanced 2.59% or 0.64 points to 25.36 in late trade.
On the downside, Prysmian SpA (BIT:PRY) was the heaviest loser, slipping 2.58% or 2.54 points to end the session at 95.88. UniCredit SpA (BIT:CRDI) fell 2.00% or 1.25 points to 61.16 and Intesa Sanpaolo SpA (BIT:ISP) declined 1.80% or 0.09 points to 5.07.
Decliners outnumbered advancers on the Milan Stock Exchange by 387 to 239, with 39 shares finishing unchanged.
Notable price milestones
- Saipem's shares climbed to three-year highs, gaining 5.80% to 3.81.
- Tenaris's stock rose to an all-time high, increasing 2.59% to 25.36.
Commodities and FX movements
Commodity markets registered significant moves during the session. Crude oil for May delivery rose 5.10% or 4.61 to $94.93 a barrel. Brent oil for June delivery increased 4.92% or 4.79 to $102.05 a barrel. By contrast, the June Gold Futures contract fell 3.43% or 157.13 to trade at $4,428.37 a troy ounce.
Currency pairs were largely stable in European trading: EUR/USD was reported unchanged at 1.15, while EUR/GBP was effectively flat at 0.86. The US Dollar Index Futures was up 0.29% at 99.69.
This session’s market action combined sector-specific weakness with notable commodity volatility. The net result was a modest retreat for the benchmark Italy 40 as select stocks posted strong gains while a larger group of names declined.