Milan Stock Exchange Opens Higher, Banks Rebound While Utility Sector Slips

Indexes edged cautiously higher at the start of trading on Piazza Affari, following Friday's sharp decline.

Today, Wall Street will be closed for George Washington's birthday, and Chinese markets remain shut through February 23 for Lunar New Year celebrations.

Around 9:35 a.m., the FTSE MIB was up 0.42%.

Banks showed strong gains, recovering from the steep losses of the previous session. UNICREDIT climbed 2%, INTESA SANPAOLO gained 1%, while MEDIOBANCA rose 2.4% and parent company MPS advanced 2%.

In contrast, the utility sector continued to slide as investors await details of a decree aimed at lowering energy prices, expected to be approved on Wednesday. ENEL and A2A lost 1.6%, IREN slipped 0.3%, ERG dropped 1.2%, and HERA was down 0.5%.

Sales also persisted today on INTERPUMP, which fell 1.6% after Friday's 18% plunge, triggered by 2025 earnings guidance coming in slightly below expectations and 2026 forecasts disappointing investors. Kepler Cheuvreux downgraded its rating to 'hold' from 'buy' and cut the target price to 45 euros from 52.

EUROGROUP LAMINATIONS was unable to set a price (indicated down 50%) after the company announced the termination of agreements disclosed on July 28 between main shareholder EMS and FountainVest.

Finally, SANLORENZO surged 4.8% following its 2025 results.

(Giancarlo Navach, editing by Sabina Suzzi)