FTSE MIB Rises Over 1%

The FTSE MIB rose more than 1% to above 44,000 on Wednesday, extending gains for a third straight session and tracking advances across European markets, as hopes for a resolution to the Middle East conflict lifted sentiment. US President Donald Trump said Washington is engaged in ongoing negotiations with Iran and signaled Tehran’s willingness to reach a peace agreement, despite Iranian officials denying any direct talks. Most major stocks traded higher, including UniCredit (+2.7%), Intesa Sanpaolo (+2.3%), Assicurazioni Generali (+1.6%), Ferrari (+1.3%), STMicroelectronics (+2.5%), and Prysmian (+3.8%). In contrast, Eni fell more than 1%, tracking a decline in oil prices. On the economic front, Italy is set to release its business and consumer confidence data for March later today.

The FTSE MIB Index gained 173 points or 0.40 percent on Tuesday to close at 43363 points. Gains were led by Infrastrutture Wire (9.89%), Diasorin (4.75%) and Amplifon (3.69%). Biggest losers were Leonardo SpA (-2.26%), Banca Generali (-0.89%) and Ferrari NV (-0.79%).

The FTSE MIB gained 0.4% to 43,369 on Tuesday, lifted by energy and tech gains. Eni rose 2% as oil prices climbed after Iran denied holding US talks to end the Gulf war, contradicting Trump's deal comments. Also, Inwit surged 9.9% after reports indicated major shareholder Ardian is in talks with Canadian investor Brookfield Asset Management on a potential joint acquisition. Meanwhile, financials traded mixed as rising oil renewed stagflation fears and lifted bond yields. Intesa Sanpaolo fell 0.7%, UniCredit inched down 0.1%, and Generali shed 0.2%. MPS rose 1.2% and Mediobanca gained 1.8%. MPS CEO Lovaglio, under investigation over last year's Mediobanca acquisition, emerged as a candidate to continue in the role after a minority shareholder nominated him to counter the board's decision to exclude him.