Italian stocks ended the trading session in Milan lower on Friday, as pressure from Financials, Travel & Leisure and Technology shares pushed the benchmark down. At the close, the Investing.com Italy 40 index had dropped 0.63%.
The session's strongest performers included Saipem SpA (BIT:SPMI), which rose 2.61% - an increase of 0.09 points - to finish at 3.57. Stellantis NV (BIT:STLAM) also advanced, adding 2.40% or 0.16 points to close at 6.94. Prysmian SpA (BIT:PRY) was up 2.35% - listed as a 2.35 point gain - to end the day at 102.50.
On the downside, several lenders were among the steepest decliners. Banca Monte dei Paschi di Siena SpA (BIT:BMPS) led losses, falling 6.76% or 0.60 points to trade at 8.30 at the close. Mediobanca Banca di Credito Finanziario SpA (BIT:MDBI) dropped 6.24% - a decline of 1.23 points - to finish at 18.47, while Banco Bpm SpA (BIT:BAMI) fell 3.02% or 0.39 points to 12.53.
Market breadth in Milan favored falling names: 390 stocks declined, 296 advanced and 52 remained unchanged by the close.
Notably, shares of Saipem reached three-year highs in the session, reflecting the intraday and closing strength noted above.
Commodities and currencies
Energy and precious metals markets moved higher during the trading session. Crude oil for April delivery rose 2.25% - up 1.47 - to $66.68 a barrel. Brent oil for May delivery increased 2.24% or 1.59 to $72.43 a barrel. In metals, the April Gold Futures contract climbed 1.09% - a move of 56.69 - to trade at $5,250.89 a troy ounce.
Currency markets were relatively muted. EUR/USD was reported unchanged at 0.22% to 1.18, while EUR/GBP was unchanged at 0.43% to 0.88. The US Dollar Index Futures was down 0.19% at 97.55.
Summary takeaway
The close in Milan reflected sector-specific weakness concentrated in Financials, Travel & Leisure and Technology, while select industrials and automotive names outperformed. Commodity prices moved higher and currency movements were modest.