With recent geopolitical and trade tensions related to Greenland and tariffs now behind, investors are turning their attention to the Federal Reserve meeting concluding on Wednesday, although no changes to interest rates are expected. Additionally, markets are eyeing the upcoming earnings reports from the so-called "Magnificent Seven" U.S. tech giants, starting with Meta, Microsoft, and Tesla tomorrow, to gauge whether the bullish trend will continue into this year.
Around 9:30 a.m., the Ftse Mib was up 0.40%, climbing back above the 45,000-point mark.
Banks continued to perform well, with the sector index advancing 1%. Leading the charge were heavyweights UNICREDIT, up 1.5%, and INTESA, rising 0.9%. The exception was MEDIOBANCA, which slipped 2.3%, weighed down by a report in La Stampa suggesting that the board of Mps is considering, among other options, selling a stake in Mediobanca to raise capital, potentially reducing its holding in Piazzetta Cuccia to 51% from the current 86%.
BRUNELLO CUCINELLI saw gains of 0.55% after Morgan Stanley resumed coverage with an 'overweight' rating and set a target price of 95 euros. FERRAGAMO was flat as the market awaited today's quarterly revenue figures.
The energy and utilities sectors were largely ignored, with ENI down 0.4%.
NEXI dropped 2.5%.
(Giancarlo Navach, editing by Francesca Piscioneri)
