The FTSE MIB Index Closes 1.11% Higher

The FTSE MIB index closed 1.1% higher at 44,310 on Tuesday, extending the rebound from the previous session and tracking the positive momentum for European stocks amid the lack of upside surprises to key inflation data. The Eurozone's inflation rate was under expectations for both headline and core gauges. Domestic consumer prices were also relatively contained in the period, raising hopes that the impact of the ongoing energy shock will be muted compared to that experienced by Italy in 2022. The developments eased concerns that energy bills will erode household spending and force the government to support businesses, supporting debt-ridden Italian bonds and lifting banks' equities. UniCredit, Intesa Sanpaolo, BPER, and BPM gained over 1.5%. In the meantime, Leonardo and Prysmian jumped over 4% as markets took advantage of their lower valuations following the selloff this month.

The FTSE MIB Index rose 486 points or 1.11 percent on Tuesday to close at 44310 points. Leading the gains are Prysmian (4.09%), Leonardo SpA (3.59%) and STMicroelectronics (2.65%).

The FTSE MIB rose 0.5% to around 44,000 in early trading on Monday, extending gains from the previous session. Investors continued to monitor developments in the Iran conflict, following the latest reports that US President Donald Trump signaled openness to ending military operations even if the Strait of Hormuz remains closed, as efforts to force Tehran to reopen the key oil route could prolong the war. Across the bourse, most heavyweight financials traded higher, including UniCredit (+0.7%), Intesa Sanpaolo (+0.6%), Banco BPM (+1.5%), and FinecoBank (+0.7%). Meanwhile, key laggards included Tenaris (-1.1%), STMicroelectronics (-2.6%), Eni (-0.7%), and Ferrari (-0.7%). On the data front, Italy is set to release its preliminary inflation reading for March later today. Despite the gains, the benchmark index remains on track for its worst month since June 2022, down over 5%.