FTSE MIB Steady Amid Iran-US Diplomacy Prospects

The FTSE MIB Index dropped -20 points or 0.04 percent on Wednesday to close at 48156 points. Losses were led by Hera (-2.27%), Infrastrutture Wire (-2.17%) and Tenaris (-1.70%). Offsetting the fall, top gainers were Nexi (6.03%), Mediobanca (5.43%) and Banca Monte dei Paschi di Siena (4.67%).

The CAC 40 fell 0.6% to close at 8,275 on Wednesday, retreating from a more than one-month high reached in the prior session as heavyweight luxury stocks dragged the index lower. Hermès plunged 8.2% after reporting weaker-than-expected Q1 sales as the Iran conflict dampened spending in the Middle East and reduced tourist demand in Paris. Kering dropped 9.3% after sales at its flagship brand Gucci posted its eleventh straight quarterly decline. Meanwhile, optimism over US-Iran diplomacy stalled despite reports that the two sides are working to schedule a second round of ceasefire talks. On the data front, France’s annual inflation rate was confirmed at a fourteen-month high of 1.7% in March 2026, driven largely by a sharp rebound in energy prices amid disruptions linked to the Iran conflict.

The FTSE MIB closed near flat at 48,157 on Wednesday as investors assessed fragile US-Iran peace efforts, with President Trump signaling a second round of talks could resume soon in Pakistan. Oil prices rose but stayed below recent peaks, easing stagflation concerns and relieving fears of a hawkish ECB rate outlook. Banks gained, with MPS surging 4.7% and BPM gaining 2.9%. Other notable performers included Stellantis, up 1.8% and Poste Italiane, up 0.7%. Conversely, energy-related stocks retreated as the oil rally faded, with Tenaris down 1.5% and Eni shedding 0.7%.