The FTSE MIB Index Closes 0.59% Higher

The FTSE MIB rose 0.6% to close at 47,609 on Friday, extending a two-day advance as markets tracked hopes of easing Middle East tensions amid a ceasefire. US and Iranian officials are set to meet in Pakistan on Saturday, fueling hopes for progress toward a potential agreement. US President Trump expressed confidence in deal prospects while maintaining pressure on Tehran to reopen the Strait of Hormuz. Israeli Prime Minister Benjamin Netanyahu signaled readiness for talks with Lebanon. The luxury and financial sectors posted gains on expectations of peace and reduced global risks. UniCredit gained 2.4%, MPS advanced 1.8%, while Intesa Sanpaolo, BPER, and Mediolanum each rose about 1%. Brunello Cucinelli jumped 5.2% in luxury stocks. meanwhile, Leonardo lost 5.3% ahead of diplomatic talks, and Eni fell 2% on hopes for normalized oil supply.

The FTSE MIB Index gained 281 points or 0.59 percent on Friday to close at 47609 points. Gains were led by Buzzi Unicem (5.66%), Brunello Cucinelli (5.50%) and Prysmian (3.87%). Biggest losers were Leonardo SpA (-5.60%), Avio (-5.42%) and Eni (-1.96%).

IT40 increased to 47671.00 Index Points, the highest since November 2000. Over the past 4 weeks, Italy Stock Market Index (IT40) gained 6.44%, and in the last 12 months, it increased 40.05%.