FTSE MIB Dips on Middle East Conflict and US Tariffs

2026-06-03 15:50 By Isabela Couto 1 min. read

The FTSE MIB fell 1.1% to close at 50,038 on Wednesday as renewed tensions in the Middle East and fresh US tariff threats weighed on sentiment.

The US Trade Representative proposed additional duties of up to 12.5% on imports from 60 trading partners, including the EU.

Meanwhile, hostilities in the Gulf intensified after Iranian attacks on Kuwait damaged the country's airport and injured dozens, while the US carried out strikes near the Strait of Hormuz.

Oil prices rose, reviving concerns about energy-driven inflation and higher borrowing costs as bond yields increased and the BTP-Bund spread widened.

Financials led losses, with UniCredit and Intesa Sanpaolo down 1.9%, while MPS and BPER fell 2.1%.

Luxury shares also weakened, with Ferrari losing 2.4% and Moncler down 2%.

Stellantis shed 4% after denying it had committed to producing one million vehicles annually in Italy.



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FTSE MIB Dips on Middle East Conflict and US Tariffs
The FTSE MIB fell 1.1% to close at 50,038 on Wednesday as renewed tensions in the Middle East and fresh US tariff threats weighed on sentiment. The US Trade Representative proposed additional duties of up to 12.5% on imports from 60 trading partners, including the EU. Meanwhile, hostilities in the Gulf intensified after Iranian attacks on Kuwait damaged the country's airport and injured dozens, while the US carried out strikes near the Strait of Hormuz. Oil prices rose, reviving concerns about energy-driven inflation and higher borrowing costs as bond yields increased and the BTP-Bund spread widened. Financials led losses, with UniCredit and Intesa Sanpaolo down 1.9%, while MPS and BPER fell 2.1%. Luxury shares also weakened, with Ferrari losing 2.4% and Moncler down 2%. Stellantis shed 4% after denying it had committed to producing one million vehicles annually in Italy.
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