Italian stocks closed modestly lower on Monday, with sector weakness in Chemicals, Telecoms and Utilities pushing the benchmark down. At the end of trading in Milan, the Investing.com Italy 40 fell 0.15%.
Among individual movers, Nexi SpA (BIT:NEXII) led the gainers on the index, finishing up 3.28% - a rise of 0.11 points to close at 3.59. Semiconductor group STMicroelectronics (BIT:STMMI) added 2.06%, climbing 1.40 points to finish at 69.35. Automotive giant Stellantis NV (BIT:STLAM) also moved higher, gaining 1.45% or 0.08 points to end the session at 5.65.
The session’s steepest drops were recorded by a trio of industrial and defense-related companies. Avio SpA (BIT:AVI) led the losers, down 4.68% or 1.61 points to close at 32.81. Leonardo SpA (BIT:LDOF) declined 3.75%, a 1.95-point fall to 50.08, while shipbuilding and engineering group Fincantieri SpA (BIT:FCT) slipped 3.72% or 0.43 points to 11.02.
Decliners outnumbered advancers on the Milan Stock Exchange, with 387 stocks down versus 334 that advanced; 49 issues finished unchanged.
STMicroelectronics was notable for reaching a multi-year high, rising to levels not seen in five years as it gained 2.06% to close at 69.35.
Commodity markets moved lower during the session. Crude oil for August delivery fell 2.99% - down $2.27 - to $73.58 a barrel. Brent futures for September delivery dropped 3.39% or $2.71 to $77.34 a barrel. In precious metals, the August Gold Futures contract decreased 1.17% or $49.60 to trade at $4,196.30 a troy ounce.
In currency and rates markets, EUR/USD was unchanged 0.35% to 1.14, while EUR/GBP was unchanged 0.42% to 0.86. The US Dollar Index Futures rose 0.17% to 100.79.
Market breadth and sector rotation drove the session’s tone: gains in select technology and payments names were insufficient to offset broader weakness in Chemicals, Telecoms and Utilities and heavier losses among industrial and defense-related stocks. The result was a small net decline for the Italy 40 index, reflecting a mixed picture beneath the surface.