FTSE MIB Starts Week Higher

The FTSE MIB rose to around 51,400 on Monday, recouping some of the previous session's losses, as investors continued to monitor developments in the Middle East. Oil prices rose as weekend US-Iran strikes renewed supply concerns, though both sides later agreed to pause hostilities and allow commercial shipping through the Strait of Hormuz ahead of peace talks later this week. Meanwhile, attention also turns to the ECB's Sintra Forum, where top central bankers, including Fed Chair Kevin Warsh and ECB President Christine Lagarde, are set to discuss the economic outlook and monetary policy. Across the bourse, semiconductor firm STMicroelectronics led gains, rising more than 3% after unveiling a secure mobile chip designed to protect devices against future quantum computing threats. Energy-related stocks also advanced, with Eni gaining more than 1% and Saipem climbing over 2%.

The FTSE MIB fell 1% to close at 51,265 on Friday, pressured by AI-related stocks and energy companies. Energy engineering firm Saipem led the declines, dropping 5% as crude prices extended their retreat, while Eni (-1.3%) and A2A (-0.7%) also came under pressure. STMicroelectronics slid 4.8% as investors renewed concerns that debt-funded AI investments may shift market focus from growth expectations to monetization, dragging Prysmian down 3.5%. Banks also weakened, led by FinecoBank (-2.3%), Banca Mediolanum (-2%), Banco BPM (-1.8%), UniCredit (-1.4%), Intesa Sanpaolo (-1.3%), and BPER Banca (-1.2%), with UniCredit warning that elevated market volatility is likely to persist through the summer. On the upside, defense-related stocks rebounded after recent losses, with Leonardo rising 0.3% and Avio gaining 0.8%. Ferrari led the gainers with a 3.1% advance, followed by DiaSorin (+2.9%) and Italgas (+1.4%). For the week, the benchmark index recorded its first weekly loss in three weeks.

The FTSE MIB Index dropped 518 points or 1.00 percent on Friday to close at 51265 points. Losses were led by Saipem (-4.88%), Amplifon (-4.84%) and STMicroelectronics (-3.86%). Offsetting the fall, top gainers were Ferrari NV (3.42%), Diasorin (2.92%) and Brunello Cucinelli (1.60%).