Italian Stocks Retreat

2026-03-11 17:22 By Andre Joaquim 1 min. read

The FTSE MIB closed 1% lower at 44,773 on Wednesday, tracking the plunge in BTP prices as a fresh surge in the cost of energy supported dented the outlook for margins and raised the likelihood of rate hikes by the European Central Bank.

The heavyweight financial sector recorded sharp losses as higher bond yields pressured their balance sheets and increased the reduced the outlook on net interest margins.

UniCredit fell 1.8% while Unipol and Azimut dropped more than 2%.

Luxury brands were also under pressure with Ferrari, Moncler, and Brunello Cucinelli losing over 2%.

Lastly, Leonardo retreated 3% following the pessimistic guidance by Rheinmetall.

On the other hand, Mediobanca and MPS rose after approving a selection of merger plans, with the latter announcing EUR 1.6 billion in new shares and offer Mediobanca shareholders with 2.45 MPS shares for each Mediobanca share.



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