FTSE MIB Extends Gains

2026-05-29 07:37 By Kyrie Dichosa 1 min. read

The FTSE MIB extended gains toward 50,000 on Wednesday, moving closer to record levels, as markets assessed the likelihood of an extension to the fragile ceasefire between the US and Iran.

The two sides reportedly agreed to a 60-day memorandum that would extend the existing ceasefire and facilitate the resumption of energy flows through the Strait of Hormuz.

However, uncertainty remains, with reports of continued hostilities persisting.

Across the bourse, early gainers were led by heavyweight financials, including UniCredit (+0.9%), Intesa Sanpaolo (+0.6%), Banco BPM (+1.2%), Mediobanca (+2.1%), and Banca Monte dei Paschi di Siena (+2.1%).

Auto stocks also advanced, with Ferrari and Stellantis up 0.8% and 1.4%, respectively.

Meanwhile, Eni fell 0.6%, tracking lower oil prices, and after announcing an agreement with battery storage firm Seri Industrial to develop a lithium iron phosphate battery supply chain.



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FTSE MIB Extends Gains
The FTSE MIB extended gains toward 50,000 on Wednesday, moving closer to record levels, as markets assessed the likelihood of an extension to the fragile ceasefire between the US and Iran. The two sides reportedly agreed to a 60-day memorandum that would extend the existing ceasefire and facilitate the resumption of energy flows through the Strait of Hormuz. However, uncertainty remains, with reports of continued hostilities persisting. Across the bourse, early gainers were led by heavyweight financials, including UniCredit (+0.9%), Intesa Sanpaolo (+0.6%), Banco BPM (+1.2%), Mediobanca (+2.1%), and Banca Monte dei Paschi di Siena (+2.1%). Auto stocks also advanced, with Ferrari and Stellantis up 0.8% and 1.4%, respectively. Meanwhile, Eni fell 0.6%, tracking lower oil prices, and after announcing an agreement with battery storage firm Seri Industrial to develop a lithium iron phosphate battery supply chain.
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