FX.co ★ FTSE MIB Set for Weekly Gain

The FTSE MIB rose 0.5% to around 52,700 in early trading on Friday, on track for a weekly gain and mirroring advances across Asian markets amid signs of strengthening regional activity. The move followed Thursday’s weaker-than-expected US jobs report, which prompted investors to scale back expectations of an imminent Federal Reserve rate hike. On the macro front, Italy’s services sector returned to expansion in June. In equities, Prysmian climbed 2.7% after JPMorgan raised its price target to €190 from €170 while reiterating an “overweight” rating. Other notable gainers included Enel (0.9%), Tenaris (0.9%), Unipol Gruppo (1.1%), Saipem (1.8%), Nexi (1.6%), and Amplifon (1.8%). The index is up more than 2% so far this week.