They probably revised all LH Italia Z fares!!
Now LHR-MXP-LHR return in business is £398... (previously around £600)! FINALLY in line with what AZ is offering (about 450€ return, for an appallingly substandard product) but also in line with what BA offers (£390 return, for a decent product).
A pity these fares are not bookable as LX codeshares from the Swiss website (sometimes I need to fly LHR-MXP, then returning MXP-ZRH / brief stopover / ZRH-LHR and LX's business fares are great).