FTSE MIB Eyes Best Quarter Since 2020

The FTSE MIB rose to around 51,300 on Tuesday, following a two-day decline, and attempting to rebound from an over two-week low. The benchmark index was also on track to post a gain of more than 15% for the second quarter, its best quarterly performance in nearly six years. The advance was supported by renewed optimism surrounding AI and improving demand expectations. Meanwhile, oil prices returned to pre-war levels, while easing tensions in the Middle East further boosted risk sentiment. Across the bourse, technology-related stocks led the gains, with STMicroelectronics and Saipem rising more than 2% each. Other notable gainers included Prysmian (+3.1%) and Unipol Gruppo (+1.7%). Meanwhile, Eni was little changed after launching Libya's offshore Sabratha Compression project to boost gas output and agreed to acquire a 32% stake in three Vaca Muerta blocks to support Argentina's LNG project, subject to regulatory approval.

The FTSE MIB fell 0.2% to close at 51,163 on Monday, with losses across most sectors. Buzzi led the decline, dropping 4.8%, followed by Stellantis (-2.8%), Inwit (-2.6%), Nexi (-2.2%), and Amplifon (-1.6%). Insurers also underperformed, with Unipol and Generali falling 1.7% and 1.4%, respectively. Financial companies underperformed after the rebound in BTPs pressured banks' and insurers' balance sheets, with BPER, and Unipol dropping more than 1%. Also, Intesa Sanpaolo dropped 0.9% after officializing its offer for MPS (-0.8%) under the Italian securities officials. On the upside, Avio gained 2.7%, while DiaSorin added 2.4%. Oil prices edged up following recent US-Iran tensions, prompting oil linked firms gains for Saipem (1.8%) and ENI (1.4%). STMicroelectronics advanced 1.6% and Prysmian gained 1.3%, supported by a global AI rally after last week's sell-off. Meanwhile, the market focus will be on ECB's Sintra Forum over the coming days.

The FTSE MIB Index decreased 102 points or 0.20 percent on Monday to close at 51163 points. The decline was led by Buzzi Unicem (-4.84%), Infrastrutture Wire (-2.87%) and Stellantis N.V. (-2.77%). On the upside, the strongest performers were Avio (2.72%), Saipem (2.37%) and Diasorin (2.37%).