The Milan Stock Exchange (-1.3%) worsens after a weak opening. On Piazza Affari, the sharp decline of STM (-14%) weighs heavily, following second-quarter results and guidance that failed to satisfy the market. After their earnings reports, Moncler (-6.9%) and Unicredit (-2%) also fell, despite quarterly figures showing growth. The spread between BTPs and Bunds rose to 83 basis points, with the yield on Italian ten-year bonds increasing to 4.02%.
In the banking sector, sell-offs also hit MPS (-1.1%), BPER (-1%) and Intesa (-0.9%). Banco BPM barely moved (-0.03%). Sharp declines also for Cucinelli (-1.5%), Campari (-1.3%) and Ferrari (-1.1%).
Amplifon soared (+3.3%). Eni (+1.9%), Tenaris (+0.6%) and Saipem (+0.5%) were in the spotlight, with buying also seen in Unipol (+0.6%) and TIM (+0.5%).
