Italy's equity market closed in negative territory on Tuesday, with sector losses in Technology, Industrials and Utilities dragging the benchmark down.
At the close in Milan the Investing.com Italy 40 index was down 1.38%.
Top performers
- DiaSorin SpA (BIT:DIAS) led the gainers, rising 2.37% - an increase of 1.58 points - to finish at 68.28.
- Avio SpA (BIT:AVI) climbed 2.20%, or 0.65 points, to close at 30.15.
- Tenaris SA (BIT:TENR) advanced 2.08%, adding 0.54 points to end the session at 26.46.
Lagging names
- STMicroelectronics (BIT:STMMI) posted the steepest drop among the large movers, falling 5.29% or 2.66 points to close at 47.65.
- Prysmian SpA (BIT:PRY) declined 5.16%, a move of 8.10 points, to finish at 148.80.
- Nexi SpA (BIT:NEXII) was down 4.82%, losing 0.20 points to end at 3.91.
Market breadth at the Milan exchange skewed negative, with 475 stocks declining versus 276 that advanced and 50 unchanged.
Commodities and currencies
Energy markets were firmer: crude oil for June delivery rose 3.58%, up $3.51, to trade at $101.58 a barrel. Brent oil for July delivery increased 3.36%, gaining $3.50 to $107.71 a barrel.
Precious metals moved in the opposite direction, with the June Gold Futures contract down 1.10% or $51.94 to $4,676.76 a troy ounce.
Currency moves were modest. EUR/USD showed a small change to 1.17, while EUR/GBP was around 0.87. The US Dollar Index Futures was higher, up 0.45% at 98.26.
What this means
The session displayed a clear divergence between individual stock performance and commodity strength. A number of heavyweight technology and industrial names posted notable declines, which outweighed gains among select healthcare and industrial firms. Simultaneously, oil markets pushed notably higher and gold retreated, indicating mixed flows between risk assets and commodity markets during the trading day.