The FTSE MIB rose about 0.2% to around 45,850 on Wednesday, hovering near a more than two-decade high reached in the previous session, outperforming some of its European peers. Gains were led by Enel (+2%), Terna (+1.5%) and Italgas (+4.7%), reflecting defensive and alternative-energy demand amid falling oil prices following news that Venezuela would release up to 50 million barrels of oil to the US. Defense stock Leonardo also climbed 2% as traders monitored geopolitical developments, including President Trump’s renewed threat to annex Greenland. Other notable gainers included Prysmian (+1.7%), Snam (+1.6%), Recordati (+1.3%) and Buzzi?Unicem (+2.1%). However, gains were capped by oil stock Eni, which fell over 2%, as well as STMicroelectronics (-1.7%), Tenaris (-2.8%) and Moncler (-1.4%). On the data front, a fresh PMI survey showed Italy’s construction sector downturn accelerated in December, marking the steepest contraction since August.