Milan's stock market rises 0.09% after oil price rebound

The Milan stock exchange concluded Thursday's trading session on a positive note, with its selective index, the FTSE MIB, climbing 0.09% to reach 52,665.82 points. This upward movement was largely influenced by a recovery in crude oil prices, spurred by the announcement of new United States sanctions targeting Iran.

The broader FTSE Italia All-Share index also saw gains, rising 0.07% to close at 55,253.13 points. Approximately 271 million shares, valued at around 2.817 billion euros (approximately $3.289 billion), changed hands during the day.

Unlike some other European markets, the Milan exchange managed to stay afloat, primarily propelled by the oil sector. This surge followed President Donald Trump's declaration of an economic offensive aimed at isolating Iran. The energy company Eni led the list of top performers, with its stock increasing by 2.59%, followed by Italgas (1.92%), laboratories Diasorin (1.60%), gaming group Lottomatica (1.43%), and gas company Snam (1.25%).

On the downside, the automotive group Stellantis experienced a notable decline of 3.71%. Other companies that saw significant drops included hearing aid manufacturer Amplifon (-2.99%), insurer Unipol (-2.69%), aerospace company Avio (-2.37%), and Stmicroelectronics (-2.16%).