Piazza Affari got off to a positive start, as did other European stock markets, following the strong performance of Asian markets driven by the strength of the tech sector and a pullback in crude, which nonetheless remains above $100 a barrel.
The decline in oil prices is enough to push the oil sector lower, with Italy’s energy index down 1.6% (ENI -1.2%). EDISON (+2.1%) is rising instead after a Reuters report on a possible preferred equity structure being considered by EDF to attract minority investors.
Supporting the market are banks (the index +1.5%) and some chip-related stocks (STM +2.6%).
BANCO BPM in particular is up 2.8% after Il Sole 24 Ore wrote over the weekend that UniCredit and Credit Agricole may be considering a joint initiative involving the bank.
Around 9:20 a.m., the Ftse Mib index is up 0.85%.
Momentum for THE ITALIAN SEA GROUP (+3.2%) after press reports about four potential buyers in the early stages of the sale process.
(Claudia Cristoferi, editing Antonella Cinelli)
