The Milan Stock Exchange opened with a modest rise, in line with other European markets, following the positive close on Wall Street and a sharp rally on the Tokyo Stock Exchange.
Around 9:40 a.m., the Ftse Mib index was up by 0.15%.
Leading the main index, STM soared by 3.6%. The European semiconductor sector is benefiting from Bloomberg reports that China's Cambricon Technologies plans to more than triple its chip production in 2026, aiming to take Nvidia's place in the Chinese market.
FINCANTIERI also posted gains (+2.9%) after signing an industrial cooperation agreement with Asry in Bahrain. Last night, it was also officially announced that Fincantieri will join the Ftse Mib in the upcoming quarterly review of the index, replacing INTERPUMP, which nevertheless advanced by over 3%.
Banks were generally weak, with MPS down by 1.3% and BANCO BPM and POP SONDRIO both slipping by about 1%. In contrast, industrial stocks showed greater strength, with PRYSMIAN and STELLANTIS both rising by around 1.5%.
(Reporting by Sabina Suzzi, editing by Andrea Mandalà)
