The FTSE MIB index closed 1.9% higher at 22,090 on Friday, enough to notch a weekly gain with large support from Milan’s heavyweight banking sector, as investors continued to digest the ECB’s monetary policy decision and EU measures to shelter households from soaring electricity prices. The central bank hiked its main interest rates by a historical 75bps, broadly in line with expectations, and signaled that it will continue to tighten policy in future meetings. The financial ended the session up more than 3%, extending yesterday’s surge as banks welcomed the ECB’s decision to suspend its two-tier system for remunerating excess reserve holdings. Italy’s largest lender Intesa Sanpaolo led the gains to jump 5.3%, while Finecobank added 5%. In the meantime, investors monitored the meeting between EU energy ministers for steps to curb the surge in electricity prices, with Commission President von der Leyen set to announce concrete measures next week.
Historically, the Italy Stock Market Index (IT40) reached an all time high of 50108.56 in March of 2000. Italy Stock Market Index (IT40) - data, forecasts, historical chart - was last updated on September of 2022.
The Italy Stock Market Index (IT40) is expected to trade at 20504.85 points by the end of this quarter, according to 王者荣耀电竞(江西)积分排榜 global macro models and analysts expectations. Looking forward, we estimate it to trade at 18113.51 in 12 months time.