Milan’s FTSE MIB edged higher to around 50,000 on Thursday after trading near the flatline, as investors digested the ECB’s policy decision. The central bank kept rates unchanged, as widely expected, adopting a wait-and-see approach and noting no second-round effects from higher energy prices so far. Financial stocks were mostly lower as attention turned to MPS’s shareholder meeting and Italy’s 2027 budget, which includes higher taxes on the financial sector, potentially weighing on profits. Energy stocks ENI and Saipem also traded near the flatline amid increased taxation. Prysmian surged 5.8%, supported by its results and upward revisions to estimates. Defense shares Fincantieri (2%), Leonardo (3.5%) and Avio (1.7%) also traded higher. STMicroelectronics fell 0.7% despite better-than-expected Q3 operating profit, tracking declines among US hyperscalers. Stellantis dropped 2.7% after Jefferies cut its price target, while Campari slid 5% despite quarterly results beating expectations.