Italian Stocks Finish Lower

The FTSE MIB Index dropped 304 points or 0.63 percent on Tuesday to close at 47903 points. Losses were led by Leonardo SpA (-4.70%), Fincantieri (-2.90%) and Lottomatica (-2.34%). Offsetting the fall, top gainers were Tenaris (1.93%), Nexi (1.28%) and Assicurazioni Generali (1.12%).

The FTSE MIB closed 0.6% lower at 47,900 on Tuesday, reversing early gains as investors grew increasingly concerned about the standoff between the US and Iran ahead of the ceasefire deadline set by President Trump for Wednesday. Uncertainty remains over whether Iran will take part in negotiations in Pakistan, while key disagreements persist, including access to the Strait of Hormuz. Leonardo fell about 4.9%, making it the worst performer in the benchmark index, while Fincantieri also posted a sharp decline of 2.9%. Lottomatica dropped 2.9%, after plunging around 5% earlier in the session following the announcement of its plan to issue €765 million in senior secured notes maturing in 2032. On the upside, Tenaris (+1.7%) and Nexi (+1.3%) were among the top performers.

The FTSE MIB edged higher to around 48,300 on Tuesday, trimming losses from the previous session, despite sentiment remaining cautious as attention stayed focused on developments in the Middle East. Reports indicate that Iran is set to join the US for talks in Islamabad later today. Markets are also monitoring whether the ceasefire, which is nearing expiration, will be extended, and whether the Strait of Hormuz will be reopened. Leading the gains was STMicroelectronics, up 2%, tracking advances in global tech peers on AI optimism. Other gainers included auto stocks Ferrari (+1%) and Stellantis (+1.8%), luxury brand Moncler (+0.9%), and several banks, including Mediobanca (+1.4%) and Banca Monte dei Paschi di Siena (+1.1%). On the flipside, Lottomatica shed nearly 5% after announcing its intention to issue and place senior secured notes maturing in 2032 for a total aggregate amount of EUR 765 million.