The FTSE MIB Index Closes 1.15% Higher

The FTSE MIB Index gained 597 points or 1.15 percent on Tuesday to close at 52433 points. Gains were led by UniCredit (4.47%), Intesa Sanpaolo (2.72%) and Azimut Holding (2.04%).

The FTSE MIB gained 1.1% to close at 52,421 on Tuesday, supported by strength in the financial sector as UniCredit's buyout offer for Commerzbank reached its final day. The 12.41% take-up of Commerzbank's capital lifted UniCredit's overall holding to 42.4%, including a previously built 26.77% equity stake and another 3.22% in share-settled derivatives. The bank also holds 13.19% through cash-settled derivatives. The German government reiterated its opposition and formally rejected the offer. Although the bid officially ended on June 16, investors have an additional two weeks to tender their shares, with final results due on July 8. ECB approval remains necessary for the process to conclude. UniCredit surged 4.2%, while peers Intesa Sanpaolo (+2.9%) and Generali (+1.8%) also advanced. Financial stocks and the broader index were further supported by lower bond yields, as falling oil prices and optimism over a US-Iran peace agreement eased inflation concerns.

The FTSE MIB rose to around 52,300 on Tuesday, extending gains from the previous session and closing in on a new record high. Sentiment remained supported by a preliminary agreement between the US and Iran aimed at ending the conflict and reopening the Strait of Hormuz. Across the bourse, heavyweight financials led gains, including UniCredit (+3.4%), Intesa Sanpaolo (+1.6%), Assicurazioni Generali (+1.2%), Banco BPM (+1.5%), Banca Mediolanum (+2.2%), FinecoBank (+1.4%), and Banca Monte dei Paschi di Siena (+1%). On the flip side, STMicroelectronics fell more than 3%. On the data front, Italy is set to release the final reading of May inflation later today. Markets are also focused on global monetary policy this week, with the Fed and Bank of England decisions, along with policy moves from Switzerland, Norway, and Sweden. Meanwhile, the Bank of Japan raised rates as expected, while the Reserve Bank of Australia kept rates unchanged.