Stellantis soars up to 14% on the stock market, Milan awaits the Fed's decision

European stock markets opened in mixed order on Wednesday, ahead of the Federal Reserve’s decision on interest rates expected in the evening. On Piazza Affari, the stock that moved the most was Stellantis, which rose up to 14% during the day, after a daily high reported at 9.6%.

The rise came following the third quarter 2026 results announced by the automotive group: revenues slightly up and a sharp decrease in the net loss compared to the previous quarter. Stellantis management confirmed its guidance for the full year 2026 and indicated a positive industrial cash flow for 2027, two elements that investors welcomed with widespread buying of the stock during the session.

On the government bond front, the spread between Btp and Bund remained stable, fluctuating between 115 and 116 basis points, with the yield on the Italian ten-year bond rising to 4.5%. This stability contrasts with the widespread caution on other European markets, where operators are awaiting signals from the US central bank before making more substantial moves.

Piazza Affari’s trading day therefore fits into a dual-track picture: on one hand, a single stock, Stellantis, gaining ground on its own corporate grounds tied to quarterly results; on the other, an Italian bond market that remains still, awaiting an external macroeconomic event, the Fed’s decision, capable of shifting the balance on rates and yields across the eurozone.

The ten-year Italian bond yield at 4.5% and the spread above 115 basis points remain, at the end of the day, the indicators markets will measure themselves against once the American central bank’s decision is known.