Around 4 p.m. the Ftse Mib index gives up 1.2 percent, slightly more than the rest of Europe, weighed down by many industrial, energy and financial stocks.
Contributing to the worsening investor mood, according to some, were the words of Economy Minister Giancarlo Giorgetti, who spoke of increased taxation for companies operating in sectors that benefit from favorable economic conditions. One trader, however, ruled out that there was any direct impact on the stock prices in Piazza Affari and referred to the general context of market weakness.
Among the few to be saved from the selling is Telecom Italia, which rises 1.2 percent after the Economy Ministry last night submitted a 700 million euro offer with Asterion to acquire the entire capital of Sparkle.
Still heavy is Stellantis (-4.2%), which continues to lose share since Monday's profit warning on 2024, as well as Saipem (-4.5%). Enel (-1.5%) and utilities in general are also bad.
Worse are the banks with Mps still among the worst at -2%. Giorgetti said the government intends to sell an additional tranche of the bank by the end of the year.
Mfe loses 2.4 percent while ProsiebenSat.1 rises by the same amount after rumors spoke of a possible further investment by the Italian group on the German investee.
(Claudia Cristoferi, editing Stefano Bernabei)
