Week Ending: 28 August 2026

Italy IT Financial Services Industry

Banks - Regional

For the week ending 28 August 2026, Banks - Regional declined 0.37% with 7 advancing, 5 declining, and 0 unchanged constituents. The index is equal weighted and the constituent tape shows uncapped security returns.

Current architecture Upward Expansion

The activity fan is positively ordered above a rising Trend Line with price accepted above it.

71 technical evidence
Index4305.59 1 week-0.37% Breadth58% Members12
Country 🇮🇹 Italy · IT
Sector Financial Services
Universe country-listed
Price basis Adjusted weekly close

Trend architecture

Index, activity fan and structural anchors

Rolling 156-week evidence. Trend Signal points mark weeks when price, trend and the activity fan confirmed together.

Index Value Trend Line Fair Value Activity Lines Constructive architecture Transitional architecture Defensive architecture
Current architecture Upward Expansion 18 completed weeks in this state
Trend acceptance 18.1% Index versus Trend Line
Persistence 100% Positive across every horizon
Participation 58% 7 advancing, 5 declining

Investor positioning lens

Is the evidence ready for capital?

A rules-based technical classification using trend, breadth, persistence, relative strength and path quality.

Current posture Build exposure selectively

The evidence is constructive, but security selection and entry discipline still matter.

71 technical evidence
out of 100
Evidence balance

Five-pillar map

Selective
Trend
90
Breadth
61
Persistence
50
Relative
67
Risk quality
89
What supports the view
  • The index remains above a constructive Trend gate.
  • Participation is broad enough to support the index move.
  • Relative performance is improving within its parent hierarchy.
What restrains conviction
  • Constituent persistence remains divided or predominantly negative.
  • The index is extended well above current Fair Value, increasing chase risk.
  • Positive contribution is concentrated in a small leadership cohort.
Independent sentiment overlay Sentiment held separate

Qualified news coverage is too thin to alter the technical positioning view.

Evidence that would change the view
  1. A completed weekly close below the Trend Line at 3,645.47 would weaken the constructive case.
  2. Breadth falling below 45% while the index holds up would signal narrowing leadership.
  3. A turn to negative 13 and 26-week parent-relative performance would remove the rotation edge.

This is a weekly research classification, not personal investment advice. Sentiment is reported as an independent confirmation layer and does not alter the technical score.

Trend state and durability

Architecture, persistence and constituent regimes

The index path is tested against the underlying security-level trend evidence.

Index architecture Upward Expansion

The activity fan is positively ordered above a rising Trend Line with price accepted above it.

State age18 weeks
Trend gateUp
Fan width10.70%
Fast versus slow change-0.60 pts
Above 67% Below 0%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence

Positive across every horizon

100% agreement

The 13, 26, 39 and 52-week trends all point upward, giving the advance broad horizon agreement.

13-week
20.8%
26-week
30.6%
39-week
34.0%
52-week
45.9%
Regime age104 weeks 52-week flips0 52-week boundary2951.66
Constituent trend persistence

Is the index move broadly durable?

Constituent persistence coverage is still building.
Custom stage map

Where constituents sit in the cycle

100% coverage
Stage 1 · Basing0%0 securities
Stage 2 · Advancing83%10 securities
Stage 3 · Distribution0%0 securities
Stage 4 · Declining17%2 securities
Re-acceleration watch0 Transition watch0 Relative strength leaders83% Fair Value repairs0

Measured as of 28 Aug 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.

Architecture breadth

How market energy is distributed

84/100 mean confidence
Upward expansion
83% 10
Rotation up
0% 0
Deceleration
8% 1
Balance
0% 0
Rotation down
0% 0
Downward expansion
8% 1
Unresolved
0% 0

Architecture breadth shows the distribution of expanding, rotating, balancing and contracting securities. It is diagnostic context and is not added as a second vote in the positioning score.

Capital rotation

Performance relative to Financial Services

Improving
Relative index 13-week relative trend Starting level
Rotation dashboard Improving

A rising relative line means this group is compounding faster than Financial Services. A falling line means capital has done better in the parent benchmark.

Relative index192.9
13-week trend187.8
4-week trend change3.44%
Weekly peer rank3 of 4
1 week
-0.3 pts relative
4 weeks
-0.5 pts relative
13 weeks
12.1 pts relative
26 weeks
14.1 pts relative
52 weeks
24.9 pts relative

Market internals

Participation, dispersion and path risk

Equal-weight index evidence with constituent-level breadth and dispersion.

Breadth

Participation quality

Broad
Advancing
7
Declining
5
Unchanged
0
4-week average 58%
13-week average 63%
Risk and persistence

Path quality

52-week lens
Annualised weekly volatility23.1%
Drawdown from 52-week high-2.6%
Positive weeks, last 1369%
Current directional run2 weeks
Turnover versus 13-week norm121%
Breadth impulse-5.6 pts
Cross-section

Return distribution

12 measured
Q1 -0.9% Median 0.3% Q3 0.5%
Average winner0.8%
Average loser-2.0%
Dispersion1.8 pts
Top-five upside share90%
Top-five capital share82%
Capital data coverage100%

Dispersion describes how far constituent outcomes are spreading apart. Capital concentration is contextual only; the index itself is equal weighted.

Momentum cycle

30-week persistence

Positive readings show expansion. Negative readings show contraction.

Breadth cycle

Net participation

Advancers less decliners as a percentage of measured constituents.

News and narrative

Does company news confirm the market tape?

Open Sentiment Intelligence
Sentiment evidence is still developing

Qualified company-level news coverage is not yet broad enough to influence the group view.

0 qualified records across 12 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 BPEBPER Banca SpA
1.96% 2 BDBBanco di Desio e della Brianza S.p.A.
1.45% 3 BMEDBanca Mediolanum S.p.A.
1.21% 4 FBKFinecoBank Banca Fineco S.p.A.
0.30% 5 CECredito Emiliano S.p.A.
0.29%

Weakest edge

12 BAMIBanco BPM S.p.A.
-4.38% 11 BSTBanca Sistema S.p.A.
-3.26% 10 BMPSBanca Monte dei Paschi di Siena S.p.A.
-1.43% 9 IFBanca IFIS S.p.A.
-0.66% 8 BGNBanca Generali S.p.A.
-0.45%

Constituent ledger

Industry constituents

All 12 measured constituents, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return
1 BPE BPER Banca SpA MIL 29.73B 14.27 0.16 pts
1.96%
2 BDB Banco di Desio e della Brianza S.p.A. MIL 2.30B 16.78 0.12 pts
1.45%
3 BMED Banca Mediolanum S.p.A. MIL 17.82B 24.19 0.10 pts
1.21%
4 FBK FinecoBank Banca Fineco S.p.A. MIL 14.51B 23.70 0.02 pts
0.30%
5 CE Credito Emiliano S.p.A. MIL 6.90B 20.56 0.02 pts
0.29%
6 MB Mediobanca Banca di Credito Finanziario S.p.A. MIL 22.63B 27.73 0.02 pts
0.29%
7 ISP Intesa Sanpaolo S.p.A. MIL 118.52B 6.79 0.02 pts
0.28%
8 BGN Banca Generali S.p.A. MIL 7.55B 66.50 -0.04 pts
-0.45%
9 IF Banca IFIS S.p.A. MIL 911.31M 15.05 -0.06 pts
-0.66%
10 BMPS Banca Monte dei Paschi di Siena S.p.A. MIL 35.16B 11.41 -0.12 pts
-1.43%
11 BST Banca Sistema S.p.A. MIL 128.67M 1.60 -0.27 pts
-3.26%
12 BAMI Banco BPM S.p.A. MIL 24.21B 15.96 -0.36 pts
-4.38%

The index uses capped equal-weight weekly constituent returns. The ledger shows uncapped security returns so outliers remain visible for research.

Evidence context