Milan, Feb 21, 2026, 07:54 CET — The market is closed.
- FTSE MIB ended Friday up 1.48%. Moncler surged 13.41%, Unipol picked up 8.67%, while Tenaris slipped 4.16%.
- A U.S. tariff decision helped brighten global risk sentiment, though traders remain on edge for new trade policy surprises.
- Next week brings Italy’s inflation and confidence numbers, plus a closely watched update from Eni.
Italy’s FTSE MIB finished Friday up 1.48% at 46,472.98, swinging between 45,803.22 and 46,713.45 during the session. Moncler shot up 13.41% to 57.00 euros, Unipol advanced 8.67% to 21.13 euros. Tenaris, on the other hand, slid 4.16% to 22.14 euros.
Europe’s STOXX 600 notched a fresh record close, rippling out well beyond Milan, after the U.S. Supreme Court tossed President Donald Trump’s broad tariffs and gave global risk appetite some breathing room. Still, IG’s chief markets strategist Chris Beauchamp wasn’t fully convinced. “It has good elements to it and slightly less good elements,” he said, cautioning that the decision might just “increase this legendary uncertainty” as everyone tries to figure out the aftermath. Reuters
Traders head into Monday still weighed down by uncertainty. Italy’s market leans hard on its banks and consumer stocks—just a hint of movement in rate expectations or fresh trade headlines can send the index moving sharply.
Moncler shares climbed after the company posted stronger-than-expected numbers in several regions. The luxury outerwear maker reported a 7% gain in fourth-quarter revenue at constant currencies. Full-year sales hit 3.13 billion euros, topping the 3.06 billion consensus from the company’s own poll. Operating profit for 2025 slipped by 0.3%, landing at 913.4 million euros. Remo Ruffini, addressing analysts, called Bartolomeo Rongone’s upcoming move to CEO in April “a natural next step.” He was clear: “I’m not stepping down, I’m not stepping back.” Reuters
Unipol’s profit and dividend both came in ahead of forecasts, with the insurer crediting its core insurance business plus earnings from banking affiliates BPER and Banca Popolare di Sondrio. The board is putting forward a 1.12 euro per share dividend—31.8% higher than last year. Net profit surged to 1.53 billion euros in 2025. “We’re equipping ourselves to stay safe in a world of wolves,” chair Carlo Cimbri said, with an eye on further banking consolidation. Reuters
There’s a risk tariff “relief” could prove brief. The Supreme Court, in a 6-3 decision, found Trump didn’t have authority under the 1977 emergency powers law to slap on the global tariffs. Trump responded, promising to try for a new 10% global tariff using a different statute—so the trade story isn’t settling down just yet. Reuters
Italy faces several domestic data points this week. ISTAT is set to release January consumer price numbers on Monday, Feb. 23 at 10 a.m. local time. Then, consumer and business confidence data lands Thursday, Feb. 26. December turnover for industry and services, along with January non-EU trade stats, are out Friday, Feb. 27.
Eni has caught the attention of analysts, with the company scheduled to release its preliminary financials for Dec. 31, 2025 on Feb. 26, according to its posted calendar.
Borsa Italiana doesn’t have its own ticker—when investors reference the “Borsa Italiana price,” they’re usually talking about the FTSE MIB. That means Milan’s market mood is shaped by the FTSE MIB’s top names, mostly banks, insurers, and a few major consumer stocks.
