Indices are sharply down on Piazza Affari, dragged lower in particular by the collapse of Stellantis and the decline in the luxury sector, as earnings season is about to pick up pace.
On the macroeconomic front, in the United States, the monthly jobs report for January has been postponed to Wednesday of next week – February 11 – due to the three-day federal shutdown, which caused delays in data collection. However, according to early indications from the Bureau of Labor Statistics, January inflation data is still expected to be released today.
Around 10:10 a.m., the FTSE Mib is down 0.56%.
STELLANTIS falls 19%, returning to its lowest levels since June 2020 after an unexpected announcement to the market of a preliminary loss between 19 and 21 billion in the second half of 2025 and the suspension of this year's dividend, which has dragged down the entire European auto sector. Equita also notes in its daily report that the guidance for 2026 is worse than expected, stating that "estimates will be revised based on the news that will emerge from the conference call at 2 p.m.".
Other industrial and automotive stocks are also down, such as FERRARI, losing 2.9%, and PIAGGIO, down 2.9%.
The luxury sector is also sharply lower, with BRUNELLO CUCINELLI, FERRAGAMO, and MONCLER all falling by more than 3%.
Banks, on the other hand, are bucking the trend as they deal with quarterly results. FINECOBANK and BPER are both up more than 2.2%, while POP SONDRIO remains strong at +1.5%. MEDIOBANCA and MPS, however, are weak.
The utilities sector is seeing inflows, led by A2A up 1.3%, ERG (+1%), and followed by other utilities.
(Giancarlo Navach, editing Antonella Cinelli)
