The FTSE MIB rose 0.4% to around 45,560 at the start of the first full week of 2026, hitting a fresh record high and building on strong gains from last year. Defence company Leonardo led the advance, surging 5.8% amid heightened geopolitical tensions following the US military intervention in Venezuela that resulted in the capture of President Nicolas Maduro. Other notable gainers included Tenaris (+3.3%), STMicroelectronics (+2.0%), Bper Banca (+2.1%), Buzzi Unicem (+2.0%), Saipem (+2.8%), and Amplifon (+2.4%). Meanwhile, investors will keep a close watch on Italy’s economic indicators this week, including PMI readings, preliminary December inflation data, the unemployment rate, and retail sales. Overseas, attention will mainly be on the US non-farm payrolls report later this week, which could offer further clues on the Federal Reserve’s policy outlook.