The FTSE MIB Index Closes 0.30% Higher

The FTSE MIB rose 0.3% to close at 52,849 on Friday, staying near record highs as gains in the energy sector supported the index. Markets remained focused on developments in the Middle East after planned follow-up US-Iran talks in Switzerland were canceled, adding fresh uncertainty to the diplomatic outlook. The news pushed oil prices modestly higher and lifted energy-related stocks, with Eni up 2.4%, Tenaris rising 2%, and Prysmian gaining 3.7%. Defense stocks also advanced on geopolitical concerns, with Leonardo up 1.7%. Financials traded mixed as energy-driven inflation concerns resurfaced, with UniCredit down 0.7% and Banco BPM losing 0.8%, while Intesa Sanpaolo added 0.4% and Generali gained 0.5%. Luxury stocks weakened on higher risk aversion, with Ferrari down 1.9% and Moncler falling 1.7%. Meanwhile, Pierre Wunsch said the European Central Bank may raise interest rates again next month if inflation continues to broaden.

The FTSE MIB Index gained 161 points or 0.30 percent on Friday to close at 52849 points. Gains were led by Fincantieri (3.39%), Saipem (3.19%) and Poste Italiane (2.58%). Biggest losers were Brunello Cucinelli (-3.80%), Moncler (-1.60%) and Lottomatica (-1.42%).

The FTSE MIB climbed past the 53,000 level on Friday, extending its record-breaking rally and remaining on track for a second weekly advance. Market attention remained on developments in the Middle East, as fresh uncertainty emerged after planned follow-up talks in Switzerland were cancelled, highlighting the difficulties in translating the agreement into a lasting peace settlement. This pushed oil prices modestly higher and supported a rebound in energy-related stocks, including Eni (+1.7%), Tenaris (+1.6%), and defence stock Leonardo (+2.5%). Auto stocks also advanced, with Ferrari (+0.9%) and Stellantis (+1.7%) gaining. Elsewhere, Prysmian climbed more than 4%, while Poste Italiane rose over 2%. On the downside, losses were seen in Infrastrutture Wireless (-1.2%) and Avio (-1.2%).