European stock markets finished the trading session displaying a mixed and cautious sentiment, following the European Central Bank`s decision to lower interest rates by 25 basis points.
Milan`s Ftse Mib index saw a gain of 0.74%, closing at 40,379 points. Elsewhere in Europe, Frankfurt posted a modest 0.19% rise, Paris dipped slightly by 0.18%, London ended up 0.11%, and Madrid advanced by 0.73%.
The spread between Italian BTPs and German Bunds tightened to 94.8 basis points, reaching its lowest level since March 2021. Conversely, the yield on the Italian ten-year bond increased by 3.5 basis points, finishing at 3.52%.
The Euro remained steady against the Dollar, trading around 1.144. The gold market, however, closed lower, dropping 0.82% to $3,350.9 per ounce. Bucking the trend, Light Sweet Crude Oil saw a gain of 1.09%.
Within the Milan market, banking shares were notable drivers, buoyed by speculation surrounding potential sector consolidation. Top performers included Mps (+3.18%), Popolare di Sondrio (+2.97%), Bper (+2.30%), Unicredit (+2.23%), Banco Bpm (+2.07%), Mediobanca (+1.97%), and Banca Generali (+1.45%).
Other stocks showing strong performance included Buzzi (+2.83%) and Leonardo (+2.18%).
On the downside, Campari saw a significant drop of 4.67%, Moncler decreased by 2.98%, and Cucinelli lost 2.68%. Italgas also experienced a minor dip of 1.45%.
In the mid-cap segment, Fincantieri posted an impressive 5.36% gain, followed by Technogym (+4.15%), Caltagirone SpA (+3.53%), and Garofalo Health Care (+3.47%).
Underperformers included Alerion Clean Power, which fell by 2.71%, and Ferragamo, which declined by 2.50%.
Focusing on sports clubs listed on the market, Juventus saw its shares rise by 0.62%, and Lazio`s shares increased by 1.93%.