Week Ending: 11 September 2026

Italy IT Industrials Industry

Engineering & Construction

For the week ending 11 September 2026, Engineering & Construction advanced 0.04% with 5 advancing, 4 declining, and 1 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.

80 technical evidence
Index2997.41 1 week0.04% Breadth50% Members10
Country 🇮🇹 Italy · IT
Sector Industrials
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 21 completed weeks in this state
Trend acceptance 13.9% Index versus Trend Line
Persistence 100% Positive across every horizon
Participation 50% 5 advancing, 4 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 Positioning window open

Trend, participation and relative evidence are sufficiently aligned for selective exposure.

80 technical evidence
out of 100
Evidence balance

Five-pillar map

Position
Trend
90
Breadth
50
Persistence
87
Relative
90
Risk quality
97
What supports the view
  • The index remains above a constructive Trend gate.
  • Constituent trends show positive multi-horizon persistence.
  • Relative performance is improving within its parent hierarchy.
What restrains conviction
  • Breadth remains too narrow or inconsistent for a high-conviction position.
  • 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 2,631.94 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 age21 weeks
Trend gateUp
Fan width7.60%
Fast versus slow change1.16 pts
Above 100% 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
11.4%
26-week
26.4%
39-week
30.0%
52-week
27.5%
Regime age104 weeks 52-week flips0 52-week boundary2350.69
Constituent trend persistence

Is the index move broadly durable?

90% coverage
Coherent positive44%
Coherent negative0%
Average horizon agreement83%
Positive horizon share78%
Weakening positives2
Repairing negatives0

9 constituents measured as of 11 Sep 2026. Median trend age is 6 weeks.

Custom stage map

Where constituents sit in the cycle

90% coverage
Stage 1 · Basing0%0 securities
Stage 2 · Advancing67%6 securities
Stage 3 · Distribution0%0 securities
Stage 4 · Declining33%3 securities
Re-acceleration watch0 Transition watch1 Relative strength leaders22% Fair Value repairs0

Measured as of 11 Sep 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.

Architecture breadth

How market energy is distributed

73/100 mean confidence
Upward expansion
56% 5
Rotation up
11% 1
Deceleration
0% 0
Balance
11% 1
Rotation down
0% 0
Downward expansion
22% 2
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 Industrials

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

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

Relative index212.1
13-week trend201.1
4-week trend change2.31%
Weekly peer rank2 of 6
1 week
0.8 pts relative
4 weeks
4.3 pts relative
13 weeks
9.9 pts relative
26 weeks
17.8 pts relative
52 weeks
20.8 pts relative

Market internals

Participation, dispersion and path risk

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

Breadth

Participation quality

Balanced
Advancing
5
Declining
4
Unchanged
1
4-week average 53%
13-week average 50%
Risk and persistence

Path quality

52-week lens
Annualised weekly volatility13.4%
Drawdown from 52-week high0.0%
Positive weeks, last 1377%
Current directional run3 weeks
Turnover versus 13-week norm138%
Breadth impulse0.0 pts
Cross-section

Return distribution

10 measured
Q1 -1.6% Median 1.1% Q3 2.7%
Average winner2.8%
Average loser-3.4%
Dispersion3.4 pts
Top-five upside share100%
Top-five capital share97%
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 10 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 MAIREMaire S.p.A.
3.36% 2 ABPAzienda Bresciana Petroli Nocivelli S.p.A.
3.25% 3 ESPEEspe S.p.A.
2.87% 4 DBADBA Group S.p.A.
2.28% 5 ETSE.T.S. S.P.A. Engineering and Technical Services
2.14%

Weakest edge

10 ICOPI.CO.P. S.p.A. Società Benefit
-7.87% 9 MAREMare Group S.p.A.
-3.02% 8 ESIGMESI S.p.A.
-1.86% 7 AUTMEAutostrade Meridionali S.p.A.
-0.75% 6 FCHFranchetti S.p.A.
0.00%

Constituent ledger

Industry constituents

All 10 measured constituents, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return
1 MAIRE Maire S.p.A. MIL 4.00B 12.61 0.34 pts
3.36%
2 ABP Azienda Bresciana Petroli Nocivelli S.p.A. MIL 191.84M 6.35 0.33 pts
3.25%
3 ESPE Espe S.p.A. MIL 73.82M 6.46 0.29 pts
2.87%
4 DBA DBA Group S.p.A. MIL 49.26M 4.49 0.23 pts
2.28%
5 ETS E.T.S. S.P.A. Engineering and Technical Services MIL 33.60M 7.15 0.21 pts
2.14%
6 FCH Franchetti S.p.A. MIL 55.67M 5.90 0.00 pts
0.00%
7 AUTME Autostrade Meridionali S.p.A. MIL 12.16M 2.66 -0.07 pts
-0.75%
8 ESIGM ESI S.p.A. MIL 12.87M 1.85 -0.19 pts
-1.86%
9 MARE Mare Group S.p.A. MIL 98.30M 4.81 -0.30 pts
-3.02%
10 ICOP I.CO.P. S.p.A. Società Benefit MIL 876.94M 28.10 -0.79 pts
-7.87%

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

Evidence context