FTSE MIB Climbs to Record Close

The FTSE MIB climbed 1.6% to close at a record 50,578 on Tuesday, recouping losses from the previous session as easing sovereign bond yields supported risk appetite. Financial stocks led gains, with UniCredit rising 1.6% and Generali adding 1.9%. Luxury shares also advanced amid signs that Chinese demand is stabilizing, with Ferrari up 2%. STMicroelectronics soared 15.1% after raising its data-center revenue target, citing strong AI-driven demand and ongoing capacity expansion. Meanwhile, investors monitored developments in the Middle East after Iran suspended indirect talks with Washington over Israel's military operations in Lebanon, although US President Donald Trump maintained that negotiations were still ongoing.  On the data front, Eurozone's preliminary inflation data showed the headline rate rose to 3.2% as expected, while the core inflation rose slightly more than expected to 2.5%, consolidating bets of a rate hike by the ECB next week.

The FTSE MIB climbed more than 1% to around 50,400 on Tuesday, reaching a new record and recouping losses from the previous session, as markets remained attentive to shifting dynamics in the Middle East. Talks continue to lack concrete agreement, while access through the Strait of Hormuz remains significantly restricted. However, a modest easing in oil prices helped improve sentiment. Focus is also shifting toward upcoming Eurozone preliminary inflation figures, with both headline and core inflation expected to accelerate in May. Across the bourse, STMicroelectronics rose 0.6% after raising its data centre revenue target, citing strong AI-driven demand and ongoing capacity expansion. Eni also gained more than 2% after signing an agreement with FIB, a subsidiary of Seri Industrial Group, to jointly develop a fully integrated battery supply chain. Other notable performers included Prysmian Group (+2%), Tenaris (+3.2%), and UniCredit (+0.8%).

The FTSE MIB Index decreased 262 points or 0.52 percent on Monday to close at 49775 points. The decline was led by Avio (-8.45%), Fincantieri (-3.97%) and Leonardo SpA (-3.96%). On the upside, the strongest performers were Tenaris (3.49%), Saipem (2.89%) and Eni (2.17%).