The FTSE MIB Index Closes 1.07% Lower

The FTSE MIB Index fell 540 points or 1.07 percent on Wednesday to close at 50038 points. Leading the losses are Stellantis N.V. (-3.98%), Amplifon (-3.20%) and Leonardo SpA (-2.71%).

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.

The FTSE MIB fell to around 50,000 on Wednesday, giving back gains from the previous session, as renewed tensions in the Middle East and fresh US tariff threats dampened investor sentiment. The US Trade Representative has proposed additional duties of up to 12.5% on 60 trading partners, including the EU, over alleged failures to ban goods made with forced labor. Meanwhile, the US and Iran reportedly exchanged fresh strikes, despite President Trump saying US–Iran talks were ongoing toward a peace deal, while Iranian media reported communications had broken down. Heavyweight financials were among the top laggards as yields rose again and oil prices continued to advance. Leading the losses were UniCredit (-1.5%), Intesa Sanpaolo (-1%), Assicurazioni Generali (-0.6%), Mediobanca (-1.3%), BPER Banca (-1.1%), and Banca Mediolanum (-1.5%). On the data front, PMI surveys showed that Italy’s private sector growth edged down in May, with the services sector remaining in contraction.