Italy's FTSE MIB Closes at Record High for First Time Since 2000 — Market Talk

Italy's blue-chip stock index hit its first record high since the dot-com boom as stocks linked to AI soar. The FTSE MIB index closed at 50220.35 points Monday, beating out a record hit in March 2000. The index is up over 11% so far this year. Shares in cross-listed STMicroelectronics, which supplies chips to Apple and SpaceX among others, have more than doubled in value so far this year. Prysmian, which manufactures optical cables used for the data transmission crucial to AI build-out, jumped 76% over the same period. The index slips from record levels Tuesday, dragged by a 6.3% decline for Ferrari after investors reacted with disappointment to a new electric supercar. (josephmichael.stonor@wsj.com)