Italy Stock Market
The FTSE MIB was little changed around the 28,450 mark on Thursday, as traders remained cautious ahead of ECB’s upcoming monetary policy decision. There remains significant uncertainty regarding today’s ECB decision, with the odds for another increase in borrowing costs rising. On the corporate front, the banking sector is the biggest laggard despite criticism from the ECB regarding the windfall tax on banks’ profits. Notably, leading lending institutions Intesa Sanpaolo (-1.8%) and Unicredit (-0.5%) are both reporting losses. Moreover, Telecom Italiam (-2.1%) is also in the red while investors await news on the Net Co. On a more positive note, the utilities sector is booking gains, particularly with Hera (+1.7%) emerging as the best-performing stock thus far.
