FTSE MIB Edges Up Amid US-Iran Stalemate

The FTSE MIB Index gained 18 points or 0.04 percent on Monday to close at 47674 points. Gains were led by Saipem (4.18%), Bper Banca (1.94%) and Nexi (1.91%). Biggest losers were Avio (-4.53%), Prysmian (-2.63%) and STMicroelectronics (-2.59%).

The FTSE MIB inched up to close at 47,682 on Monday as markets closely monitored Middle East developments ahead of the ECB meeting. US Iran peace talks stalled ahead of a busy week of central bank meetings, including the ECB and US Fed, both expected to hold rates. The financial sector posted gains, with UniCredit up 0.6% and Generali advancing 0.8%. Oil prices rose as shipments through the Strait of Hormuz remained limited, supporting Eni, which gained 0.2%. In contrast, STMicroelectronics lost 2.3% ahead of major US tech earnings. The utilities sector declined, with Enel down 0.3% and Italgas losing 0.4%. Leonardo shed 0.3% as the US Iran conflict appeared to reach a stalemate. The luxury sector traded mixed amid persistent risk aversion, with Ferrari down 1.1% and Moncler up 1.6%.

The FTSE MIB was nearly flat at around 47,600 on Monday as markets continued to closely monitor developments in the Middle East. Axios reported that Iran has submitted a new proposal to the US to reopen the Strait of Hormuz and end the conflict, while delaying nuclear negotiations to a later stage. Citing a US official and two sources, the report raised cautious hopes that diplomatic talks could resume and potentially lead to a resolution. At the same time, investors are bracing for a busy week of major central bank decisions. Looking ahead, Italy is also set to release a raft of key data this week. Early gainers included several banks, with UniCredit (+0.8%), Banco BPM (+1.1%), and BPER Banca (+0.7%) advancing. Other notable gainers included Saipem (+2.3%), Tenaris (+1.2%), and Eni (+0.7%). On the flipside, Ferrari (-0.7%), STMicroelectronics (-1.4%), and Nexi (-1.8%) were in the red.