The Milan stock exchange
advanced Friday with the benchmark FTSE Mib index adding 2.22%
to close at 17,483 points.
The rally came after the Chinese central bank saw room for
more growth stimulus policies and as the US dollar rose on
higher United States GDP estimates.
Oil and gas industry supplier Tenaris soared 9.3% on
revised estimates by Credit Suisse analysts, Fiat Chrysler
Automobiles (FCA) jumped 5.8% on a possible merger with French
carmaker Peugeot.
Investors also liked the insurance sector, including Unipol
(+5.4%) and Generali (+4.4%).
State-controlled ENI oil and gas giany added 5.1% to close
the day at 12.71 euros a share after better than expected
results in prospecting and production.
Banks also made gains, with Milan-based cooperative bank
BPM in the lead (+4,8%). Monte dei Paschi di Siena (MPS) bank
bucked the trend (-0.7%).
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