Piazza Affari continued to rise with the FTSE Mib to new two-month highs as it awaits the release of important US inflation data which could influence expectations on the size of the next rate cut of the Fed.
Morning trading has already confirmed the positive sentiment from recent sessions on market optimism regarding new stimulus measures in China, which supported stocks most linked to Chinese demand, mainly luxury goods.
Around 12:50 p.m., the FTSE Mib was up 0.6%, a performance that would allow the Milanese index to close the week with a gain of 2.5%, the best weekly performance since mid-August.
Volumes of around 1.2 billion euros.
Featured values:
Moncler jumped 9.8%, galvanized by news of Lvmh’s purchase of 10% of Double R, the Ruffini family vehicle which holds a direct stake in the down company of around 15.8%. The stock benefits both from a technical point of view, thanks to Double R’s plan to buy up to 2.7% of Moncler shares over the next 18 months, and from a substantive point of view, ” because this operation confirms the attractiveness of investment in the company and the solid long-term prospects of the group”, comments Equita Sim.
The Lvmh operation has revived speculation on mergers and acquisitions in the luxury sector, which has already been at the center of a strong rally in recent sessions on expectations of a recovery in Chinese demand: Brunello Cucinelli increased by 2.7%, bringing the weekly balance to +12.6%, and Ferragamo by 3.9%, with a gain of around 15% for the eighth week.
The small company Aeffe climbed 18.1% (on volatility auctions), helped by the sale of certain products such as perfumes and cosmetics from the Moschino brand.
Stellantis rose 3.9% on the back of the sector’s recovery, with the Franco-Italian house recently returning to the spotlight amid speculation of a change at the top of the company when CEO Carlos Tavares’ term will expire in early 2026.
The Stm continued its rally – up 4.2% – triggered yesterday by better-than-expected forecasts from Micron Technology.
Diasorin climbed 2.4% after filing for 510 clearance with the US FDA for Liaison Plex®.
Banks have caught their breath after the recent rally. Unicredit fell 0.6% on the day of its first scheduled talks with Commerzbank. Profit taking also took place on Pop Sondrio, Banco Bpm and Bper between 0.7% and 1%.
(Andrea Mandalà, Sabina Suzzi edition)
