Stock market: Anthropic leads the recovery after a dismal week; Milan (+1.3 per cent) returns to the 49,000 mark -2-
(Il Sole 24 Ore Radiocor) - On the Milan Stock Exchange, the rebound in tech shares, fuelled by enthusiasm for Anthropic, is perhaps the standout feature of the trading session. Technoprobe (+5.6%) posted a sharp rebound (though it remains down by around 20 per cent compared with the last 10 trading sessions). St (+2.7%) and Prysmian (+3.9%) also performed well, with the latter benefiting from Citigroup resuming coverage with a ‘Buy’ rating and a target price of 136 euros. It was also a positive day for the financial sector, with widespread gains ranging from Bper (+2.7%) to Mediolanum (+2.8%), followed by Unipol (+2.3%) and Mps (+2.1%).
Avio (+5.8%) topped the FTSE MIB following an upgrade by Berenberg, which raised its recommendation from ‘Hold’ to ‘Buy’ and increased the target price from 33 to 39 euros. “The upgrade primarily reflects growth opportunities in the missile propulsion market, which is grappling with ‘a shortage of structural solid-propellant rocket engines’ that is worsening due to ongoing conflicts,” write the experts at the German bank, who note that demand is also being driven by the expected increase in US missile budgets, from around $36 billion in 2026 to the $95 billion requested for 2027. Defence stocks are also seeing buying interest, from Fincantieri (+3.5%) to Leonardo (+1.9%). Stellantis (+3.8%) is also performing well, ahead of its results on 28 October.
On the other hand, Eni is down (-1.8 per cent), following Friday’s rally on the back of its results, which showed quarterly profits more than doubling. Among the shares under pressure is also Recordati (-1.5 per cent), after Respighi BidCo – a vehicle linked to CVC and GBL – reached 74.58 per cent of the share capital at the end of the initial acceptance period for the takeover bid, which will be reopened from 3 to 9 November. Bringing up the rear is TIM (-2.4 per cent).
Outside the FTSE MIB, attention is focused on Seif (Il Fatto Quotidiano), which is up 18 per cent following the announcement that LMDV Media – an investment company owned by Leonardo Maria Del Vecchio – has launched a due diligence process with a view to a possible full takeover bid.
imt
