Italian Market Update: Telecom Italia Volatility, Banking Rebound, and Sector Performance

Milan’s stock market experienced a day of mixed signals on Wednesday, February 25, 2026, with overall indices consolidating in positive territory. The FTSE Mib rose 0.88% to 47,063 points, fluctuating between 46,859 and 47,108 points. Broader market indices also saw gains, with the FTSE Italia All Share up 0.89%, the FTSE Italia Mid Cap rising 0.83%, and the FTSE Italia Star increasing by 0.43%.

Telecom Italia Faces Volatility After Preliminary 2025 Data

Telecom Italia (TIM) shares exhibited significant volatility, increasing 0.22% to €0.6514. This movement followed the release of the company’s preliminary financial data for the 2025 fiscal year. TIM reported revenues and EBITDA in line with market consensus. The board of directors proposed a 1-for-10 reverse stock split to shareholders for approval.

Banking Sector Rebounds

Following declines in the previous session, Italian banking stocks experienced a rebound. Mediobanca led the gains, rising 2.29% to €19.22 per share.

Saipem Shows Positive Results

Saipem increased by 0.47% to €3.435. The engineering company’s preliminary 2025 financial results showed improvements in both turnover and profitability. Saipem also provided financial estimates for 2026 and a preliminary indication of its planned dividend distribution.

Leonardo and Campari Face Downward Pressure

Leonardo experienced a decline, falling 1.25% to €58.42. The aerospace group released preliminary financial results for 2025, reporting growing revenues and improved profitability. Management announced that an updated business plan would be presented on March 12, 2026.

Campari suffered a significant drop, decreasing 2.36% to €6.458.

Broader Market Trends

Bitcoin rose to $65,500 (approximately €55,500). The spread between the Italian BTP (government bond) and German Bund remained below 60 basis points, with the yield on the 10-year BTP staying below 3.35%. The euro weakened, falling below $1.18. Gold prices rose to $5,205, while silver exceeded $91.