FTSE MIB Falls Over 1%

The FTSE MIB fell more than 1% to around 52,000 on Tuesday, retreating from record levels to hit a one-week low. Semiconductor firm STMicroelectronics led losses, sliding over 6% as it tracked a global tech sell-off, as worries mounted among investors that the technology sector’s recent surge may have run ahead of fundamentals, with scrutiny intensifying over artificial intelligence-driven spending and elevated equity valuations. Other notable laggards included several banks, such as UniCredit (-0.9%), Intesa Sanpaolo (-0.8%), Assicurazioni Generali (-0.9%), Banco BPM (-1%), and FinecoBank (-1.8%). Auto stocks also came under pressure, with Ferrari down 1% and Stellantis falling 3%. Increased Fed rate-hike bets also weighed on sentiment, while markets kept track of developments in US-Iran peace negotiations.

The FTSE MIB Index decreased 52 points or 0.10 percent on Monday to close at 52797 points. The decline was led by Leonardo SpA (-4.77%), Avio (-4.68%) and Hera (-4.47%). On the upside, the strongest performers were Nexi (2.30%), STMicroelectronics (1.82%) and Stellantis N.V. (1.63%).

The FTSE MIB opened flat around 52,800 on Monday, remaining close to record levels, as investors continued to monitor developments on US–Iran peace talks. Reports indicated that both sides had agreed on a roadmap toward a final deal within 60 days, easing market concerns after recent exchanges of military threats over the Lebanon conflict and prompting oil prices to resume their decline. Markets also assessed ongoing political developments in the UK. Regulated utilities led losses, including Poste Italiane (-3.4%), Snam (-3.7%), and Terna Rete Elettrica Nazionale (-3.6%). Other notable laggards included defence stock Leonardo (-0.8%) and luxury group Moncler (-1.4%). On the flip side, gains were seen in Tenaris (+1%), STMicroelectronics (+2.3%), as well as some banks, including BPER Banca (+1.1%) and Unipol Gruppo (+1.6%).