Milan’s FTSE MIB rises 1.3% as banks and Technoprobe advance

Milan’s FTSE MIB rose 1.3% at the opening, supported by buying in banking stocks. Technoprobe led the gains, climbing 3.4% after receiving an upgrade from Barclays, according to ANSA.

Fineco and Bper each gained 3.2%, while UniCredit rose 2.8%, Intesa 2.7%, MPS 2.5% and Unipol 2.4%.

Defence stocks were among the weakest performers. Avio fell 4.1%, Leonardo lost 3.5% and Fincantieri dropped 3.2%. The sector was also down 1.5% across Europe, measured by the Stoxx index. Ferrari slipped 2.5% and Stellantis 1.4%.

Intermonte analysts said the consequences of the US midterm election result could emerge over the coming weeks, potentially slowing decisions on issues including the debt ceiling and tariffs.

Sources: ANSA Economia.