The Milan market closed in positive territory on Thursday, with the Investing.com Italy 40 rising 1.70% as several sectoral gains pushed the benchmark higher. Financials, Utilities and Industrials were the principal contributors to the advance.
Top and bottom movers
Among index components, Fincantieri SpA (BIT:FCT) led the session's winners, finishing up 6.78% - a 0.69 point gain to close at 10.79. Leonardo SpA (BIT:LDOF) posted a 6.52% increase, adding 3.18 points to finish at 51.94. UniCredit SpA (BIT:CRDI) also recorded a strong performance, rising 4.07% - a 3.20 point jump to close at 81.88.
On the downside, Nexi SpA (BIT:NEXII) fell 1.51%, losing 0.06 points to end the session at 3.71. Tenaris SA (BIT:TENR) slipped 1.21% to close at 23.59, down 0.29 points, while STMicroelectronics (BIT:STMMI) decreased 0.85%, a 0.53 point move to 61.84.
Market breadth and notable highs
Advancers outpaced decliners on the Milan bourse by 430 to 332, with 49 stocks unchanged at the close. UniCredit's share price moved to a five-year high, closing at 81.88 after a 4.07% gain.
Commodities and currencies
In commodities trading, U.S. crude for August delivery declined 0.99% - down $0.68 to $67.90 a barrel. Brent for September delivery fell 0.92%, a $0.66 drop to $70.91 a barrel. Gold futures for August climbed 1.37%, rising $55.90 to trade at $4,138.30 a troy ounce.
On the foreign exchange front, the euro strengthened against the dollar, with EUR/USD up 0.57% to 1.14. EUR/GBP registered a marginal movement of 0.05% to 0.86, effectively unchanged. The U.S. Dollar Index Futures (DX) was lower by 0.60%, at 100.54.
This session left Italy's benchmark notably higher, supported by sectoral advances in Financials, Utilities and Industrials and selective strength among major stocks.