European Stocks Recover as Oil Prices Fall; Lottomatica Soars, MPS Struggles

European stock markets rebounded on Wednesday, March 4, 2026, after two days of declines, although oil prices edged lower. Milan’s FTSE Mib index led gains, driven by a surge in Lottomatica shares, while Banca MPS and Mediobanca lagged behind.

Market Overview

The FTSE Mib recovered 1.95% to close at 45,337 points, fluctuating between 44,328 and 45,517 points during the session. The FTSE Italia All Share rose 1.94%, with the FTSE Italia Mid Cap gaining 1.75% and the FTSE Italia Star increasing by 1.18%. Trading volume totaled €5.05 billion, down from €6.47 billion on Tuesday.

Banking Sector Performance

The banking sector saw a mixed performance. Banca Monte dei Paschi di Siena (MPS) fell 1.2% to €7.688, while Mediobanca declined 1.58% to €16.83. Conversely, BPER Banca rose 4.04% to €11.45, and Banca Popolare di Sondrio increased 4.95% to €16.54.

Energy Sector and Key Stocks

Oil sector stocks were in focus as the price of crude oil in New York (April 2026 contract) fell below $74.50 a barrel. ENI saw a slight decline of 0.4% to €19.96.

FinecoBank gained 0.13% to €19.465 following the approval of its industrial plan for 2026-2029, which includes growth forecasts for earnings per share (EPS), asset gathering, and new clients.

Italgas increased 0.77% to €10.49 after reporting its 2025 financial results, reflecting the consolidation of 2i Rete Gas.

Lottomatica’s Continued Rally

Lottomatica continued its upward trend, surging 15% to €24.30. Several investment banks have raised their price targets for the stock following the release of its 2025 financial results.

Other Notable Movers

Prysmian rose 4.52% to €102.20, and Stellar increased 4.8% to €6.491, both among the best performers on the FTSE Mib.

In the MidCap segment, Ariston Holding rebounded 7.86% to €4.284 after a significant correction in the previous session. Maire likewise performed well, gaining 6.79% to €14.00 after releasing its 2025 financial results and 2035 estimates.

Macroeconomic Data

The unemployment rate in Italy decreased to 5.1% in January 2026, from 5.5% in December (revised from 5.6%), falling below analysts’ expectations of 5.6%. Employment increased, primarily among men, encompassing both employees and self-employed individuals across all age groups except for 15-24 year olds, which saw a decrease.

In the Eurozone, the services sector activity expanded at a slightly faster pace in February due to increased demand, while growth remained modest and companies only marginally increased employment, according to the S&P Global PMI survey.

Commodity and Currency Movements

As of 5:25 pm, Bitcoin exceeded $72,500 (approximately €62,500). The spread between the BTP-Bund narrowed below 70 basis points, with the yield on the 10-year BTP consolidating below 3.45%. The euro approached $1.165. Gold rose to $2,160, while silver reached $84.