The FTSE MIB Index Closes 0.47% Lower

The FTSE MIB Index dropped -213 points or 0.47 percent on Tuesday to close at 45412 points. Losses were led by Leonardo SpA (-8.14%), Stellantis N.V. (-3.98%) and Diasorin (-3.70%). Offsetting the fall, top gainers were STMicroelectronics (4.13%), Infrastrutture Wire (1.91%) and Fincantieri (1.33%).

The FTSE MIB fell 0.5% to close at 45,412 on Tuesday, weighed by Middle East escalation as Iran refused to reopen the Strait of Hormuz before US President Trump's deadline. Crude oil prices rose, fueling stagflation fears and lifting bond yields, which pressured financial stocks. Generali lost over 1%, while UniCredit fell 0.4% amid merger debates after Commerzbank said UniCredit did not offer sufficient shareholder value and was unwilling to provide an adequate premium. Leonardo led losses, slumping 8%, after Italy signaled it would replace CEO Roberto Cingolani, a major change at the state-controlled company at a sensitive time as Leonardo competes for growing defence and aerospace business amid rising military spending tied to Ukraine and Middle East conflicts. In addition, Italy's services PMI fell to 48.8 in March from 52.3, marking the first contraction after 16 months of expansion and falling short of expectations.

The FTSE MIB edged above 45,700 in early trading on Tuesday, hovering near a four-week high, as markets reopened after the long Easter weekend. Investor focus remained on the war in Iran, with uncertainty still elevated amid mixed signals over a potential resolution. US President Donald Trump said the military could strike key Iranian infrastructure, including power plants and bridges, if no deal is reached by his Tuesday deadline. At the same time, he described ongoing negotiations as “going well” and stressed that reopening the strait is a top priority. Against this backdrop, oil prices extended their gains. Leading the advances were STMicroelectronics (+3.2%), Eni (+1%), and Telecom Italia (+1.3%). On the downside, Leonardo fell over 4%, while Stellantis declined 2%. On the data front, fresh PMI survey data showed that Italy’s services sector and private sector fell into contraction in March.