Italy Stock Market (FTSE MIB)

The FTSE MIB closed 159 points or 0.7% higher at 23,098 on Wednesday after a bumpy session and in line with its European peers, as concerns over rising bond yields were eased by yesterday's dovish remarks from Fed Chair Powell. Meanwhile, shares of Telecom Italia jumped 9.2% on better than expected Q4 results and improved sales outlook. The rise in bond yields drove trades away from tech stocks into industrial equities, which sent shares of Tenaris rising 3.5%. Oil stocks also outperformed the index amid rising crude oil futures, with Saipem climbing 2.7% and ENI up 1.7%. Finally, investors welcomed news that the Draghi executive will push forward with the re-privatization of the loss-making lender Monte dei Paschi after the former government spent EUR 5.4 billion to rescue the problematic bank.
. Historically, the Italy Stock Market (FTSE MIB) reached an all-time high of 50108.56 in March of 2000. The FTSE MIB (Milano Italia Borsa) Index is a major stock market index which tracks the performance of 40 leading and most liquid and companies listed on the Borsa Italiana. It is a free floating, capitalization-weighted index. The base value of the FTSE MIB Index was set at the level of the MIB 30 Index at the close of trading on October 31, 2003 at 10644 points.
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