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Market Update: Italian Shares End at 1-Week High
The FTSE MIB managed to close 31 points or 0.1% higher at a one-week high of 25,768 on Wednesday, near to a 13-year high hit on June 7th, tracking cautious optimism in other European markets, as investors took on a wait-and-see approach to the conclusion of the Feds monetary policy statement later in the day. Italian utilities ended among the best performers in the index, namely Enel rose 1.7% and Italgas gained 1.6%. Meanwhile, Italian payments company Nexi went up 1.5% after it announced Nets had concluded the merger into Nexis structure. On the pandemic front, Draghi is mulling extending the state of emergency until the end of the year, contrary to statements from his ministers who were hoping to end the extraordinary measure at the end of July. [/s2If]
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