The FTSE MIB closed 214 points or 0.9% higher at 23,136 on Friday, erasing early losses and outperforming its European peers, supported by the Italian banking sector and upbeat earnings reports. Shares of luxury company Moncler soared 5.4% on higher Q4 sales, due to strong figures in China. Also, Goldman Sachs raised the target prices of UniCredit, Intesa Sanpaolo, BPM, and BPS, while it kept BPER Banca unchanged. Finally, shares of ENI rose 1.1% amid the release of its strategic plan, which pledges improvements in shareholder remuneration, as investors were indifferent to a surprise EUR 66 million quarterly profit in early trades. On the data front, fresh manufacturing PMI data for the Euro Area rose to a 3-year high while the services sector shrank more than expected. For the week, the index lost 1%.
Historically, the Italy Stock Market (FTSE MIB) reached an all time high of 50108.56 in March of 2000. Italy Stock Market (FTSE MIB) - data, forecasts, historical chart - was last updated on February of 2021.
The Italy Stock Market (FTSE MIB) is expected to trade at 22497.90 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 20845.58 in 12 months time.