FTSE MIB Edges Lower

The FTSE MIB edged lower to around 52,200 on Wednesday, taking a breather after reaching record highs in the previous session, while investors awaited further details on the US-Iran agreement to reopen the Strait of Hormuz. Market participants also kept a close watch on the Federal Reserve’s monetary policy decision scheduled for later in the day. Losses were seen in energy and utilities stocks, including Enel (-1%), Eni (-2.2%), Tenaris (-1%), Snam (-1%), and Terna Rete Elettrica Nazionale (-1%). Some financials were also in the red, including Intesa Sanpaolo (-0.9%), Mediobanca (-1.1%), and Banca Monte dei Paschi di Siena (-1.1%). Meanwhile, STMicroelectronics was barely changed after it announced plans to raise $1.5 billion via a bond sale, offering investors exposure to shares that have nearly tripled this year amid AI-driven market enthusiasm.

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.