FTSE MIB Edges Lower Amid US-Iran Peace Uncertainty

The FTSE MIB Index fell -129 points or 0.27 percent on Thursday to close at 48027 points. Leading the losses are Nexi (-2.51%), A2A (-1.99%) and Italgas (-1.91%). Top gainers were Amplifon (5.68%), Mediobanca (2.68%) and Banca Monte dei Paschi di Siena (2.17%).

The FTSE MIB fell 0.3% to 48,027 on Thursday, holding near 2000 levels as investors monitored Middle East tensions. The US administration alternated between signaling progress toward a peace deal and warning Iran, while Pakistani officials visited Tehran to facilitate new US-Iran talks. The Strait of Hormuz remains largely closed, keeping oil prices elevated, though below recent peaks. Financials traded mixed, UniCredit dropped 1.4%, Intesa Sanpaolo fell 0.9%, but Generali rose 0.7%. Also, MPS surged 2.2% after resolving a governance dispute with CEO Luigi Lovaglio retaining his role; Mediobanca, set to merge with MPS, climbed 2.4%. Utilities declined, with Enel down 0.4% and Italgas losing 1.9%.

The FTSE MIB climbed above 48,300 on Thursday, reaching a new high since 2000 after a brief pause in the previous session, as investors continued to monitor developments in the Middle East. Reports indicated that the US and Iran are considering extending the ceasefire by two weeks to allow additional time for peace negotiations. However, shipping through the Strait of Hormuz remains suspended, with a US naval blockade still in place. Meanwhile, markets continued to digest corporate updates. Banca Monte dei Paschi di Siena rose more than 4% after the conclusion of a monthslong governance dispute, with CEO Luigi Lovaglio unexpectedly prevailing. Other banks also posted strong gains, including Mediobanca (+5%) and Banco BPM (+4.8%), while Assicurazioni Generali added 1.8%. On the downside, energy-related stocks remained subdued, with Eni down 1.6%, alongside Tenaris (-0.4%) and Terna Rete Elettrica Nazionale (-0.9%).