The FTSE MIB Index Closes 1.74% Lower

The FTSE MIB fell 0.2% to close at 45,625 on Thursday, turning muted after sharp morning losses as Iran and Oman reportedly drafted a protocol to monitor transit through the Strait of Hormuz. Global markets traded sharply lower after US President Trump signaled the Iran war would continue for weeks, but partially recovered on the transit protocol report. Meanwhile, oil prices continued to surge, fueling stagflation fears. Bond yields edged up and the BTP-Bund spread widened, pressuring the financial sector. UniCredit lost 2.5%, MPS fell 2.8%, and Mediobanca dropped 2.5%. STMicroelectronics led losses at 2.8% amid US semiconductor market weakness. In contrast, Eni advanced 4.3% on surging oil prices. Other gainers included Stellantis, up 4.1% after reporting a 10.3% annual rise in sales in March. Also, Generali was up 1%, and Enel gained 0.6%. Markets in Italy will be closed Friday for the Easter holiday.

The FTSE MIB Index dropped -90 points or 0.20 percent on Thursday to close at 45625 points. Losses were led by STMicroelectronics (-2.87%), Banca Monte dei Paschi di Siena (-2.77%) and UniCredit (-2.63%). Offsetting the fall, top gainers were Eni (4.27%), Stellantis N.V. (4.13%) and Saipem (2.91%).

The FTSE MIB fell more than 1% to around 45,100 in early trading on Thursday, giving back gains from the previous session and moving in line with declines in global equities, as investor optimism for a quick end to the conflict with Iran waned after comments from US President Trump. He indicated that US operations were approaching their goals and promised tougher measures, including possible strikes on electrical plants over the next two to three weeks. Most stocks traded in the red, particularly heavyweight financials, as the speech propelled oil prices higher, reignited inflation concerns, and pushed yields up. Unicredit fell over 3%, alongside Intesa Sanpaolo (-2.2%), Banco BPM SPA (-1.7%), Bper Banca (-2.7%), Mediobanca (-2%), Unipol Gruppo (-1.6%), and Banca Mediolanum (-1.7%).