FTSE MIB Hits Record as Oil Falls on Iran Deal Hopes
2026-05-25 12:02
By
Joana Ferreira
1 min. read
Italy’s FTSE MIB index climbed to an all-time peak of 50,114 points on Monday before trimming some gains, as crude oil prices tumbled on growing expectations that the US and Iran were close to a deal to reopen the Strait of Hormuz.
Brent crude fell nearly 6% to below $100 a barrel after senior US officials indicated on Sunday that both sides were nearing an agreement to restore the critical Middle East shipping route, though final approval could still take several days.
The decline in oil prices soothed some inflation fears, leading investors to scale back expectations for interest rate hikes.
However, money markets still anticipate two European Central Bank rate increases before the end of the year.
Among individual stocks, Nexi surged over 6% after state-backed investor CDP Equity announced plans to raise its stake in the payments group to as much as 29.9%.