FTSE MIB Falls on Middle East Risks

2026-05-04 16:22 By Isabela Couto 1 min. read

The FTSE MIB dropped 1.6% to close at 47,478 on Monday, as investors weighed Middle East developments and renewed trade tensions.

Iran’s navy said it turned away enemy warships in the Strait of Hormuz, while US Central Command stated no US ships had been hit.

Oil prices jumped earlier in the session, raising concerns about the impact of higher crude costs on global inflation.

Financials led declines, with Intesa Sanpaolo down 2.6% and UniCredit shedding 2.4%.

Trade worries also weighed after US President Donald Trump said tariffs on EU cars and trucks would rise to 25%, prompting the European Commission to consider countermeasures.

Stellantis fell 1.4%.

Utilities were also weaker, with Enel down 2.5% and Snam losing 2.3%.

In contrast, STMicroelectronics rose 2.1%, supported by a tech rally on the Nasdaq.



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