FTSE MIB Falls on Weak Corporate Earnings

The FTSE MIB Index decreased 406 points or 0.82 percent on Thursday to close at 49291 points. The decline was led by Davide Campari-Milano (-14.45%), Tenaris (-6.76%) and Saipem (-6.01%). On the upside, the strongest performers were Telecom Italia (3.79%), Poste Italiane (3.06%) and Diasorin (2.20%).

The FTSE MIB fell 0.8% to close at 49,291 on Thursday, trimming gains after reaching a fresh record high at the open, as investors digested mixed corporate earnings. Davide Campari-Milano slumped after Q1 organic revenue missed market expectations, while Tenaris plunged 14.4% despite maintaining profitability, warning that the Iran conflict could weigh on Q2 sales. FinecoBank eased 1.8% after reporting lower first-quarter profit. On the upside, Poste Italiane gained 2.5% after posting higher Q1 profit, while Nexi rose 1.2% on earnings growth. Meanwhile, investors continued to monitor developments in the US–Iran conflict and whether Tehran would accept Washington’s proposal. Eni fell 2.5% as oil prices declined.

The FTSE MIB was slightly lower at 49,600 on Thursday, trimming gains after hitting a fresh record at the open, as investors digested mixed earnings reports. Davide Campari-Milano slumped over 11%, as Q1 organic revenue fell short of market expectations. Tenaris also fell over 5% after maintaining Q1 profitability but warning that the Iran conflict could weigh on Q2 sales. FinecoBank eased 0.5% after reporting lower Q1 profits. On the upside, Poste Italiane rose over 2% after reporting higher Q1 profits, while Nexi gained 0.3% on earnings growth. Meanwhile, traders monitored developments in the US–Iran conflict and whether Tehran would accept Washington’s proposal. President Trump said no agreement had been finalized, calling it “perhaps a big assumption” that Iran would agree, while warning that military strikes could resume at higher intensity if Tehran failed to comply.