Italian equities finished the trading day lower on Wednesday, with the Investing.com Italy 40 index closing down 0.57% in Milan. Sector movement was mixed, as the Chemicals, Travel & Leisure and Technology sectors registered the largest losses while several individual large-cap names posted gains.
Top gainers
The leading stocks on the Italy 40 were Eni SpA (BIT:ENI), which climbed 7.09% or 1.56 points to finish at 23.58; Stellantis NV (BIT:STLAM), which added 4.20% or 0.21 points to close at 5.29; and Nexi SpA (BIT:NEXII), which rose 3.42% or 0.14 points to end the session at 4.23.
Largest decliners
On the downside, Italgas SpA (BIT:IG) fell 4.54% or 0.44 points to close at 9.29. Lottomatica Group SpA (BIT:LTMC) declined 4.00% or 0.99 points to finish at 23.77, and STMicroelectronics (BIT:STMMI) was down 3.55% or 1.58 points to end the day at 42.92.
By the close, decliners outnumbered advancers on the Milan Stock Exchange, with 410 shares falling versus 313 rising. A total of 54 issues finished unchanged.
Commodities and currencies
Energy prices moved higher in commodities trading. Crude oil for September delivery gained 7.19% or 5.70 to trade at $84.96 a barrel. Brent oil for October delivery increased 7.22% or 5.93 to $88.01 a barrel. In contrast, the August Gold Futures contract fell 0.73% or 29.30 to trade at $4,009.40 a troy ounce.
In currency markets, EUR/USD was effectively unchanged, moving 0.10% to 1.14, while EUR/GBP was flat, changing 0.01% to 0.86. The US Dollar Index Futures was up 0.05% at 101.32.
Market breadth and context
Market breadth in Milan showed more losers than winners at the session close, driven by losses in specific sectors including Chemicals, Travel & Leisure and Technology. Despite the overall dip in the Italy 40, several large-cap names registered notable intraday gains.
What the data shows
- Investing.com Italy 40 closed down 0.57%.
- Leading advancers included ENI (+7.09%), STLAM (+4.20%) and NEXII (+3.42%).
- Notable decliners were IG (-4.54%), LTMC (-4.00%) and STMMI (-3.55%).
- Oil prices rose sharply: WTI September at $84.96 and Brent October at $88.01 per barrel.
- Gold futures (August contract) fell to $4,009.40 a troy ounce.
This session's moves left the Italy 40 lower at the close while providing a divergent picture among individual large-cap constituents.