Piazza Affari updates its highest levels since early 2021, driven by investor optimism in global markets on the first trading day of the new year.

The start of 2026 for the Milanese index sends a positive signal to investors, reflecting confidence in earnings resilience, still-attractive valuations, and a favorable country risk environment thanks to political stability and fiscal discipline.

In a sign of continuity with the year just ended, today's session is supported by the banking and defense sectors.

Around 13:00, the Ftse Mib index is up 0.6%. As the year begins, trading volumes are heating up, with 1.35 billion euros in turnover.

Stocks in focus:

** The tech rally on Asian markets, fueled by new IPOs and artificial intelligence prospects, is lifting the entire sector in Europe, with STM standing out in Milan, leading the Ftse Mib with a 4.7% gain.

** Among banks, MPS is in the spotlight, rising 2.8%, after the Sienese institution announced this morning it has called an extraordinary shareholders' meeting for February 4 to vote on several bylaw amendments, including the option for the board of directors to submit its own slate of candidates for board renewal.

** Also performing well is subsidiary MEDIOBANCA (+1.3%), while POP SONDRIO, BPER, and BANCO BPM are posting gains between 0.5% and 1%.

** In defense, in addition to LEONARDO advancing 3.6%, FINCANTIERI stands out with a jump of nearly 5%, benefiting from an order worth over 200 million euros, through Wass Submarine Systems, with the Indian Navy. This represents the largest contract ever secured by the subsidiary in the underwater sector and is strategically significant for the entire group.

** Among oil stocks, SAIPEM is up more than 2%, supported by the announcement of contracts in Saudi Arabia and Turkey worth 1 billion dollars. In a strong sector, ENI is up 1.5%.

** PRYSMIAN is also strong, up about 2%. In an interview with Repubblica, cable company CEO Massimo Battaini did not rule out new acquisitions in 2026, reiterated the option of a possible double listing on Wall Street, and highlighted growth prospects linked to the energy transition and the interconnection of European networks.

** Among the weakest stocks on the Ftse Mib, INTERPUMP is down 2% and CAMPARI 1%.

(Andrea Mandalà, editing by Claudia Cristoferi)