FX.co ★ Italian Stocks Edge Higher

The FTSE MIB saw a modest increase of 0.2% on Monday, pushing it to approximately 41,700, marking its highest point since mid-July 2007. This boost comes amidst optimism surrounding potential diplomatic progress between Russia and Ukraine. U.S. President Donald Trump announced plans on Friday to meet Russian President Vladimir Putin on August 15 in Alaska, aiming to negotiate an end to the conflict in Ukraine. Such a resolution could potentially avert additional U.S. sanctions on Russia. Concurrently, President Trump's deadline of August 12 for reaching a trade agreement with China looms, with no clear signs of an extension from either party. Domestically, market participants are poised to examine the upcoming release of final inflation figures and trade data closely. In corporate developments, Jefferies has upgraded Recordati, a pharmaceutical firm, from ‘hold’ to ‘buy,’ adjusting its price target from EUR55.00 to EUR61.50. As a result, Recordati’s shares surged by 3.4%. Other noteworthy stocks experiencing gains include Stellantis, which rose by 2.4%, Telecom Italia by 1.8%, and Amplifon by 2.1%.