FTSE MIB Rises Over 1%

The FTSE MIB rose 2.3% to close at 48,556 on Tuesday, supported by easing oil prices and strong corporate earnings. Oil prices declined but remained elevated amid ongoing Middle East tensions, as the US and Iran continued their standoff over the Strait of Hormuz. The prospect of softer energy prices eased inflation concerns, lifting financials and the broader index. Intesa Sanpaolo gained 2.4% and MPS rose 3.6%, while UniCredit jumped 5.9% after reporting a record quarter, with net profit of €3.217 billion and higher full-year guidance. Italgas added 1.9% after posting a 44.1% rise in revenue and a 6% increase in net profit. Prysmian surged 10% on plans to pursue €4 billion in M&A deals. On the downside, Ferrari fell 3.9% as deliveries dropped 4.4% year-on-year to 3,436 units amid a model transition. Leonardo (+0.9%) and Amplifon (+4.6%) are also set to report results.

The FTSE MIB Index went up by 1079 points or 2.27 percent on Tuesday to close at 48558 points. The rise was led by Prysmian (10.08%), UniCredit (6.13%) and Amplifon (4.59%).

The FTSE MIB rose more than 1% to around 48,000 on Tuesday, recouping losses from the previous session, driven by strength in heavyweight financials. UniCredit led the advance, climbing over 3% after reporting strong Q1 net profit, beating consensus by 19.2% and lifting its full-year profit outlook to at least €11 billion. Other financials also gained, including Intesa Sanpaolo (+1.4%), Banco BPM (+1.3%), BPER Banca (+1.7%), Mediobanca (+1.4%), and Banca Monte dei Paschi di Siena (+1.3%). On the downside, Lottomatica (-1.7%) and Avio (-1.1%) declined. Meanwhile, ongoing tensions in the Middle East remained on the radar, as the fragile ceasefire between the US and Iran appeared close to collapsing amid reports of renewed attacks.