Milan closes flat after new US-Iran attacks
Translated from Spanish and summarized by DistantNews. Read the original for the full story.
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- Milan’s FTSE MIB fell 0.01% to 52,612.69 points as the exchange closed the final trading session of August.
- New attacks in the US-Iran war affected oil prices and lifted Italian energy stocks, including Tenaris, Saipem and Eni.
- Aerospace, defense, cement and fashion companies were among the decliners.
Milan’s stock exchange ended almost unchanged after new attacks between the United States and Iran pushed oil prices higher.
The benchmark FTSE MIB fell 0.01% to 52,612.69 points on the final trading session of August. The broader FTSE All-Share index also declined 0.01%, closing at 55,248.65 points. Trading totaled 369 million shares worth 4.579 billion euros.
Higher oil prices supported several Italian energy-related stocks. Tenaris rose 2.97%, while Saipem gained 2.29% and Eni advanced 2.26%. Stellantis also climbed 1.60%, with Banca Monte Paschi Siena up 1.51% and Mediobanca gaining 1.26%.
Other companies ended lower. Aerospace group Avio fell 2.90%, defense company Leonardo dropped 2.18%, and cement maker Buzzi lost 1.89%. Fashion companies Brunello Cucinelli and Moncler declined 1.46% and 1.28%, respectively.
About this summary
Originally published by ABC Color in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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