Globally, investors are expressing a certain relief following yesterday's US data, which showed overall resilience in the labor market. Further indications could come from across the Atlantic at 14:30 with the release of weekly jobless claims figures.
Around 11:50 a.m., the Ftse Mib is up 0.30%. Trading volumes are around 1.3 billion euros.
Stocks in the Spotlight
** Banks are staging a strong recovery, with the sector index up 1.3%. Major players UNICREDIT and INTESA SANPAOLO are both gaining more than one percentage point, while MEDIOBANCA is performing even better with a +2.2% rise.
** Asset management stocks are attempting a rebound after being hit yesterday by concerns that the use of artificial intelligence—particularly following the launch of new tools by operators such as Altruist—could have competitive impacts in the world of financial advisory. BANCA GENERALI stands out with a +3.2% gain, after losing 7.6% yesterday. Following results that beat expectations, Kepler Cheuvreux has upgraded its rating from 'hold' to 'buy'.
** On the flip side, utilities are under pressure ahead of a new energy bill decree aimed at mitigating energy costs for families and small-to-medium businesses, which, as Prime Minister Giorgia Meloni stated this morning, will be brought before the Council of Ministers next week. "The indications confirm the government's intention to act on reducing electricity prices, with negative impacts mainly for power generators with RES exposure (hydro, wind, solar)," Equita commented in its daily note. A2A is down 4.6%, ERG falls 4%, and both ENEL and HERA lose about 2.5%.
** FINCANTIERI jumps 5% after presenting its 2030 plan and revising its 2025 guidance upwards, with improved EBITDA margin forecasts.
** In the luxury sector, which is seeing strong buying across Europe also thanks to solid results from Hermes, BRUNELLO CUCINELLI rises 3%. SALVATORE FERRAGAMO, however, reverses course (-0.7%) after denying press rumors last night about a possible change in creative direction. Morgan Stanley has resumed coverage with an 'underweight' rating and a price target of 5.5 euros.
** Among the stocks attracting buying interest, STELLANTIS also stands out with a +2.5% gain.
(Sabina Suzzi, editing Antonella Cinelli)
