FTSE MIB Declines as Rising Bond Yields Weigh

The FTSE MIB fell 0.6% to close at 48,355 on Tuesday as elevated oil prices and rising bond yields continued to pressure sentiment amid the prolonged stalemate between the US and Iran. Italy’s 10-year government bond yield moved closer to 4%, and the BTP-Bund spread widened. Major financial stocks traded lower, with UniCredit down 1.4% and Intesa Sanpaolo losing 0.9%. Eni slipped 0.6% after reports that the company is considering deploying a third floating liquefied natural gas platform offshore Mozambique. Other notable laggards included Prysmian (-5%), Tenaris (-1.8%), Stellantis (-0.7%), and Enel (-0.6%). In contrast, Ferrari jumped 3.5% after buying back 312,337 shares worth €91 million as part of its €3.5 billion multi-year share repurchase plan.

The FTSE MIB Index dropped 314 points or 0.65 percent on Tuesday to close at 48355 points. Losses were led by Prysmian (-5.66%), Saipem (-3.00%) and Amplifon (-2.50%). Offsetting the fall, top gainers were Avio (4.13%), Ferrari NV (3.83%) and Infrastrutture Wire (2.51%).

The FTSE MIB rose to around 48,800 on Tuesday, recouping some losses from the previous session, as investors assessed the prospects of a US–Iran deal. This comes after President Donald Trump delayed a planned strike on Iran following requests from Gulf Arab states, prompting oil prices to ease and reducing pressure on markets. Bond yields also retreated, helping heavyweight financials regain momentum, including Mediobanca (+2.1%), Bper Banca (+1.3%), Unipol Gruppo (+1.3%), FinecoBank (+1.2%), and Banca Monte dei Paschi di Siena (+2.2%). Meanwhile, Eni fell 0.7% after news that it is considering the deployment of a third floating liquefied natural gas (FLNG) platform offshore Mozambique, while Stellantis rose 1.1% after announcing it will begin producing a new line of electric vehicles aimed at the small, affordable car segment in Europe.