Italy Stock Market Index (IT40)

The FTSE MIB pared early losses to close 117 points or 0.5% higher at an over 2-week high of 24,612 on Friday, catching up to its European peers after, amid an ongoing assessment of earnings results, as traders switched up their bets for the session. Starting as the worst performer, Italian utilities group Enel ended unchanged, as the board’s confirmation of FY 2021 targets managed to offset a 12.3% loss in core earnings. On the contrary, Leonardo shares shed 1%, even with Q1 earnings showing a 132% surge in core profits, underpinned by a 7.7% jump in revenues, mostly from sales to governments and military clients. The aerospace group reaffirmed its commitment to list its American subsidiary DRS. Finally, Banco BPM also ended flat after posting upbeat Q1 profits, underpinned by higher than expected revenues, while it accelerated the sale of NPLs. For the week, the index rose 1.6% after 2 straight weeks of declines. 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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