FTSE MIB Rises on Hopes of Progress in US-Iran Talks

The FTSE MIB Index gained 342 points or 0.70 percent on Friday to close at 49511 points. Gains were led by Avio (5.84%), STMicroelectronics (5.19%) and Stellantis N.V. (3.25%). Biggest losers were Saipem (-2.56%), Amplifon (-2.36%) and Eni (-2.08%).

he FTSE MIB gained 0.7% to close at 49,510 on Friday amid cautious signs of progress in negotiations surrounding the US-Iran conflict. US Secretary of State Marco Rubio said there were some encouraging signs toward a potential agreement. Italian bond yields moved lower and the BTP-Bund spread narrowed, supporting sentiment toward financial stocks. UniCredit rose 2%, Generali gained 0.9%, and MPS advanced 1.7%. Chipmaker STMicroelectronics climbed 5.2%, extending gains in the global tech sector after Nvidia reported stronger-than-expected first-quarter sales. Stellantis also rebounded 3.2% after unveiling its €60 billion FaSTLAne 2030 strategic plan in the previous session. On the downside, Eni fell 2.1%.

The FTSE MIB rose 0.4% to around 49,340 on Friday and is on track for a weekly gain, amid optimism over a US–Iran peace deal. US Secretary of State Marco Rubio noted there were some encouraging signs toward a potential agreement, while Iranian officials also acknowledged that the gaps between the two sides have narrowed. Shares of Stellantis climbed 2.5%, rebounding from a decline in the previous day when the company unveiled its €60 billion FaSTLAne 2030 strategic plan. STMicroelectronics advanced 2.9%, UniCredit gained 1.1%, Prysmian rose 1.3%, and Avio increased 1.9%. These gains offset declines in Eni (-0.9%), Saipem (-1.2%), Lottomatica (-1.9%), and Amplifon (-1.8%). The FTSE MIB is up around 0.6% so far this week.