FTSE MIB Falls as US-Iran Peace Hopes Fade

2026-05-12 15:45 By Isabela Couto 1 min. read

The FTSE MIB fell 1.4% to close at 48,991 on Tuesday, reversing gains from the previous session as hopes for a swift resolution to the US-Iran conflict continued to fade.

US President Trump said the truce was “on life support” and rejected Tehran’s latest counterproposal.

Oil prices rose and renewed concerns over stagflation.

Heavyweight financials traded lower, with UniCredit down 0.9%, Generali losing 1.7%, and Intesa Sanpaolo falling 1.4%.

The main exceptions were MPS, which gained 1.5% after reporting strong Q1 2026 results, and Mediobanca (+1.3%), amid plans for a merger with the state bank.

Utilities also posted losses, with Enel down 1.6%.

Other notable laggards included STMicroelectronics (-5.3%), Leonardo (-2.6%), and Prysmian (-5.2%).

Elsewhere, Eni rose 0.9% as higher oil prices supported energy stocks, while Recordati traded lower ahead of its earnings release.

On the data front, Italy’s industrial production rose 1.5% year-over-year in March.



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2026-05-12
FTSE MIB Falls as US-Iran Peace Hopes Fade
The FTSE MIB fell 1.4% to close at 48,991 on Tuesday, reversing gains from the previous session as hopes for a swift resolution to the US-Iran conflict continued to fade. US President Trump said the truce was “on life support” and rejected Tehran’s latest counterproposal. Oil prices rose and renewed concerns over stagflation. Heavyweight financials traded lower, with UniCredit down 0.9%, Generali losing 1.7%, and Intesa Sanpaolo falling 1.4%. The main exceptions were MPS, which gained 1.5% after reporting strong Q1 2026 results, and Mediobanca (+1.3%), amid plans for a merger with the state bank. Utilities also posted losses, with Enel down 1.6%. Other notable laggards included STMicroelectronics (-5.3%), Leonardo (-2.6%), and Prysmian (-5.2%). Elsewhere, Eni rose 0.9% as higher oil prices supported energy stocks, while Recordati traded lower ahead of its earnings release. On the data front, Italy’s industrial production rose 1.5% year-over-year in March.
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