The Milan stock exchange is leveraging the weight of banks in its main index and is performing more strongly than most European markets, which are cautiously positive thanks to the performance of US futures, signaling a reaction on Wall Street after Friday's sell-off.
Investors are preparing for the monetary policy decisions that will be announced by several central banks in the coming days, with the ECB and BoE on the agenda on Thursday.
Frankfurt is expected to leave rates unchanged, while the Bank of England could proceed with a 25 basis point cut.
On Wednesday, the Swedish Riksbank will make its announcement - which, like the ECB, is expected to keep rates unchanged - while on Friday it will be the turn of the Japanese central bank, which is expected to raise rates by a quarter of a point.
At around 9:55 a.m., the FTSE MIB was up 1%.
After Friday's halt, which did not prevent the sector from closing the week with a positive balance of almost 3%, banks resumed their positive trend. In particular, MPS rose 2.2%, while BPER and INTESA SANPAOLO rose by around 1.5%.
Purchases on STELLANTIS, up 1.7%, with the European Commission expected to lift the effective ban on the sale of new combustion engine cars from 2035 tomorrow. CUCINELLI was particularly strong at +3.5%, followed by BUZZI (+2.8%).
Also noteworthy in the FTSE Mib is the weakness of DIASORIN (-0.75%) after Morgan Stanley cut its rating to 'equal weight' from 'overweight' and its target price to €63 from €99.
Outside the main index, JUVENTUS stood out, jumping 12% to €2.46 despite the Agnelli family's Exor rejecting the offer to buy the club made by its second largest shareholder, Tether Investment, at a price of €2.66 per share (a 21% premium on Friday's closing price), for a valuation of the entire company of over €1 billion.
(Andrea Mandalà, editing Claudia Cristoferi)
