Italian equities closed higher on Thursday as sector gains in Technology, Industrials and Healthcare supported an uptick in the headline index.
By the close in Milan the Investing.com Italy 40 had added 0.57%.
Top and bottom performers
Among individual names, Leonardo SpA (BIT:LDOF) led the session's risers, climbing 5.36% or 2.77 points to finish at 54.42. Avio SpA (BIT:AVI) also posted a robust advance, gaining 5.21% or 2.17 points to end the day at 43.86. Ferrari NV (BIT:RACE) was up 3.49% or 9.90 points, closing at 293.65.
On the downside, Unipol Gruppo Finanziario Spa (BIT:UNPI) was the weakest name, sliding 3.04% or 0.66 points to close at 21.03. FinecoBank Banca Fineco SpA (BIT:FBK) declined 2.74% or 0.58 points to 20.60, while Azimut Holding SpA (BIT:AZMT) fell 1.73% or 0.61 points to end the session at 34.73.
Market breadth and wider measures
Across the Milan Stock Exchange, decliners narrowly outnumbered advancers, with 363 stocks down versus 356 up; 64 remaining unchanged.
Commodities and currencies
Commodities traded higher during the session. Crude oil for July delivery rose 1.48% or 1.31 to $89.99 a barrel. Brent oil for August delivery increased 1.16% or 1.07 to $93.32 a barrel. The August Gold Futures contract gained 0.70% or 31.25 to trade at $4,512.75 a troy ounce.
In currency markets, EUR/USD was unchanged 0.21% to 1.16, while EUR/GBP was unchanged 0.07% to 0.87. The US Dollar Index Futures traded lower, down 0.17% at 98.98.
Context and takeaway
Thursday's session saw selective strength in several industrial and technology-related names that lifted the headline index, while some financials and wealth-management firms lagged. The mix of advancing and declining issues, along with unchanged counts, reflected a market with concentrated winners and a significant number of stocks struggling to keep pace.
Disclosure