The Italian Stock Market, as measured by the FTSE MIB, was the most profitable in Europe year-to-date after managing a 14.54% appreciation by the end of July.
The next best return from a European mainstream index was the 14.16% achieved by Spain’s Ibex 35.
Explanations put forward for the Italian index’s performance include the recovery of banking stocks, including Unicredit, Intesa Sanpaolo, and in insurance by the likes of Generali.
In the past month, Unicredit shares gained 3.65%, up 30.6% year-on-year.
For its part, Intesa Sanpaolo rose by 20.3% over 12 months, after gaining 2.46% in the past month alone.
Generali gained a significant 10.3% in July, taking the full year gain to 31.2%.
On average, Italian stocks registered a 4.39% increase compared to the 0.55% monthly rise seen on the Spanish stock market in July.