Milan and other major European stock exchanges are displaying a cautious trend today, Tuesday, December 23, 2025, as the holiday season approaches. The Milan Stock Exchange is trading slightly above parity, aligning with the general European sentiment.
Global Market Overview
The S&P-500 on the American market shows a marginal positive change of +0.04%. The Euro/US Dollar exchange rate remains stable at 1.177. Gold prices are also steady, trading at 4,445.5 dollars per ounce. A slight decrease is noted in Light Sweet Crude Oil, which is down to 57.85 dollars per barrel.
Macroeconomic Data and Key Developments
Investors have been closely watching overseas economic data, where the US GDP for the third quarter registered a robust growth of 4.3%. This marks the fastest pace in recent years, primarily fueled by strong consumer spending and the revocation of some stricter tariffs previously imposed by the Trump administration.
Piazza Affari: Specific Stock Movements
In Piazza Affari, significant news includes Lagfin holding company, which, following an agreement with the Italian Revenue Agency, has secured the release of all 214,079,997 previously seized Campari shares. Lagfin has thus regained full availability of these shares.
The spread remains stable at +72 basis points, with the yield on the ten-year BTP positioned at 3.53%.
Performance Across Euroland Indices
Among the Euroland indices, Frankfurt shows no significant changes. London records a moderate gain of 0.23%, while Paris remains largely flat.
Piazza Affari continues its session at levels similar to the previous day, with the FTSE MIB showing a variation of +0.1%. Similarly, the FTSE Italia All-Share is trading around parity, currently at 47,330 points.
The FTSE Italia Mid Cap is slightly negative (-0.34%), and the FTSE Italia Star is also down marginally (-0.43%).
Top Performers in Milan
Among the best-performing large-cap Italian stocks, Italgas shows a marginal increase of 0.92%. Recordati also had a moderately positive day, rising by a fractional +0.91%. Banca MPS reflects a moderate increase of 0.77%, and Tenaris shows progress of 0.74%.
Main Declines in Milan
Conversely, the strongest declines are observed in Brunello Cucinelli, which is down by -1.22%. Interpump experiences a moderate contraction of -1.16%. Saipem shows a slight reduction of -1.13%. Buzzi is also disappointing, trading just below the previous day’s levels.
Mid-Cap Highlights
Leading the mid-cap stocks in Milan are RCS (+3.66%), Safilo (+1.28%), Zignago Vetro (+0.92%), and Fincantieri (+0.85%).
The most significant sell-offs are seen in Juventus, which is down -2.30%. Technogym shows a negative performance, falling by -1.82%. Sesa is down by -1.79%, and OVS shows a small decrease of -1.45%.
Upcoming Economic Indicators
On Wednesday, December 24, 2025, at 14:30 (USA time), the weekly unemployment claims data will be released, with an expectation of 220,000 units (previous: 224,000 units).
Source: https://www.borsaitaliana.it/borsa/notizie/teleborsa/finanza/senza-direzione-milano-e-gli-altri-mercati-europei-7_2025-12-23_TLB-BIT.html?lang=it
