Milan Stock Exchange Plunges: Juventus Down, Stellantis Gains

Milan's stock market finished significantly lower, recording the poorest performance among major European exchanges. Rising government bond yields and oil price tensions pressured trading. The Ftse Mib index dropped 2.51% to 49,972 points, falling below the 50,000 mark for the first time since June and ending a three-day upward trend.

European Markets Negative, Milan Leads Losses

Other European markets also saw declines, though less pronounced than Milan. Frankfurt fell 1.35%, and Paris was down 1.22%. London limited its losses to 0.79%. On the Milanese exchange, the Ftse Italia All-Share retreated 2.49% to 52,533 points. The Ftse Italia Mid Cap was down 1.75%, and the Ftse Italia Star dropped 1.61%.

BTP-Bund Spread Widens to 115.2 Points

New pressures emerged in the bond market. The spread between BTP and Bund increased to 115.2 basis points. The yield on the 10-year BTP rose 9.7 basis points to 4.62%, while the German bond yield slightly decreased to 3.47%. France faced greater pressure, with its 10-year Oat yield increasing by 11.9 basis points to 4.86%. The spread over the Bund reached 139.3 points amid concerns about the French government's debt management.

Euro and Gold Decline

In currency markets, the euro/dollar exchange rate fell 0.64%. Gold also saw a negative day, decreasing 1.36% to $4,107.6 per ounce. Light Sweet Crude Oil saw a minor pullback of 0.32% after a day of tension.

Inwit and Stellantis Resist Selling Pressure

Few stocks on the Ftse Mib managed to avoid the negative trend. Inwit gained 1.87%, and Stellantis closed up 1.36%. On the downside, Technoprobe experienced the largest drop, falling 5.97%. Significant selling also affected Prysmian (down 4.68%), UniCredit (down 4.18%), and STMicroelectronics (down 4.07%). Ferrari finished just below breakeven, with a 0.03% decrease.

Mid Cap: Moltiply Group Soars; BFF Bank Drops 7.34%

Among Ftse Mid Cap stocks, Moltiply Group recorded the best performance, rising 4.09%. D'Amico advanced 2.54%, and Piaggio gained 1.62%. At the bottom of the list was BFF Bank, down 7.34%. Credem lost 4.87%, ENAV dropped 4.67%, and Alerion Clean Power fell 4.39%. Football club stocks showed mixed results: Juventus lost 3.12%, while Lazio gained 0.62%.