The Milan Stock Exchange (-0.3%) reduces the initial decline, in line with other European stock exchanges. The banks are improving in Piazza Affari while Saipem slips (-2.4%). The spread between BTPs and Bunds drops to 141 points, with the yield on the Italian ten-year bond falling by five basis points to 3.86%. S&P's decision on Italy's rating is expected in the evening.
Among the positive banks, Fineco (+0.7%), Bper (+0.6%), BancoBpm (+0.2%) and Mps (+0.1%). Unicredit (-0.3%), Popolare Sondrio and Intesa (-0.1%) bucked the trend. Purchases on utilities with the price of gas falling. A2a and Enel (+0.9%), Erg (+0.7%) and Hera (+0.1%) increased.
At the bottom of the list are Nexi and Tenaris (-1.7%), STM (-1.4%) and Iveco (-1.1%). Tim is weak (-0.4%), grappling with the issues related to the renewal of the board of directors and the sale of the network.