The FTSE MIB Index Closes 0.18% Higher

The FTSE MIB Index went up by 93 points or 0.18 percent on Thursday to close at 52688 points. The rise was led by STMicroelectronics (4.16%), Prysmian (2.48%) and Banco BPM SPA (2.00%). On the downside, the weakerst performers were Saipem (-7.04%), Tenaris (-4.08%) and Eni (-3.16%).

The FTSE MIB rose 0.2% to close at 52,688 on Thursday, extending its record rally on optimism surrounding the interim US-Iran peace agreement. The two countries signed a tentative deal extending the ceasefire by 60 days to allow negotiations on a final agreement. The deal aims the full reopening of the Strait of Hormuz and the easing of shipping restrictions, pushing oil prices lower and reducing concerns over a new wave of global inflation and prolonged high interest rates. Financial stocks traded mixed, with UniCredit up 1.6% and Intesa Sanpaolo gaining 0.9%, while Generali slipped 0.3%, Mediolanum lost 0.7%, and Unipol fell 1.6%. The Fed kept rates unchanged on Wednesday but signaled that further hikes remain possible to curb inflation. Meanwhile, STMicroelectronics jumped 4.2%, tracking gains among semiconductor producers on Wall Street and following its $1.5 billion convertible bond sale announced on Wednesday. Eni fell 3.3% on lower oil quotes.

The FTSE MIB edged lower to around 52,900 on Thursday, halting a five-day record-breaking rally as markets weighed the US–Iran interim peace agreement against hawkish signals from the Federal Reserve. The US and Iran signed a tentative deal extending the ceasefire by 60 days to allow negotiations on a final agreement, with the full reopening of the Strait of Hormuz easing shipping restrictions and triggering a pullback in oil prices. Meanwhile, the Federal Reserve held rates steady, though Chair Kevin Warsh signalled that hikes remain possible to curb inflation. In Europe, the Bank of England is expected to keep policy unchanged, with attention on any hawkish dissent among policymakers. Energy-related stocks continued to decline, including Eni (-0.8%), Enel (-0.5%), and Tenaris (-1.2%). Other notable laggards included Moncler (-1.3%), Saipem (-3%), Buzzi Unicem (-1.8%), and Davide Campari-Milano (-1%).