FTSE MIB Rises on Luxury and Energy Gains

The FTSE MIB Index went up by 247 points or 0.50 percent on Thursday to close at 49825 points. The rise was led by Leonardo SpA (5.54%), Avio (5.21%) and Ferrari NV (3.74%). On the downside, the weakerst performers were Unipol Gruppo (-2.95%), Finecobank (-2.74%) and Azimut Holding (-1.73%).

The FTSE MIB gained 0.5% to close at 49,825 on Thursday, supported by gains in the luxury, industrial, and energy sectors. Eni rose 0.5% as oil prices rebounded after Iran said it had attacked a US air base in response to fresh US strikes. Prysmian added 2.6%. Luxury heavyweight Ferrari jumped 3.5%, rebounding from a sharp selloff in the previous session after the company’s CEO defended its Luce EV model, saying both new and existing clients had already placed orders for the vehicle. Elsewhere, Leonardo surged 5.4% amid escalating geopolitical tensions, while STMicroelectronics gained 3.1% as semiconductor stocks tracked gains on Wall Street.

The FTSE MIB fell to around 49,400 on Thursday, declining for a third consecutive session, as sentiment remained weighed by persistent tensions in the Middle East. Both the US and Iran reportedly conducted fresh strikes, raising doubts over the prospects of a concrete agreement and sustaining volatile movements in oil prices. Heavyweight financials were mixed, with losses in UniCredit (-0.9%), Intesa Sanpaolo (-1.1%), Assicurazioni Generali (-1.2%), Unipol Gruppo (-1.8%), and FinecoBank (-1.3%). Meanwhile, Mediobanca (+1.1%) and Banca Monte dei Paschi di Siena (+0.8%) were in the green. Defense stocks also advanced, with Leonardo leading gains, up nearly 3%, while Avio rose nearly 5%. On the data front, Italy’s consumer confidence improved to a three-month high and came in better than expected in May, while business sentiment was unchanged but still ahead of forecasts for a slight weakening.