The FTSE MIB traded flat to lower on Wednesday, underperforming its European peers, as investors continued to monitor the earnings season and awaited the Fed’s monetary policy decision. In Italy, Draghi’s recovery plan has been approved by the Parliament and moved towards its final analysis in Brussels. On the earnings front, Saipem announced a net loss in Q1 revenues of €120 million to €1.6 billion, more than the expected €75 million drop, on account of pandemic related struggles and the recent events in Mozambique. The Italian energy group added it was unable to update or confirm its 2021 outlook due to the violent insurgence near its Mozambican projects. Meantime, DiaSorin Q1 operating profits more than doubled to €130 million, underpinned by a recovery in pre-pandemic business activities and SARS-CoV-2 test sales. The Italian biotech company also placed €500 million in bonds to partially finance the acquisition of US competitor Luminex Corp.
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 April of 2021.
The Italy Stock Market (FTSE MIB) is expected to trade at 23858.98 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 22106.70 in 12 months time.