The FTSE MIB Index Closes 1.01% Higher

The FTSE MIB rose 1% to close at 51,682 on Tuesday, making it Europe's best-performing major index in the first half of the year with gains of around 15%. Avio led gains at 6.7%, followed by Leonardo (1.9%). Buzzi (3%) and Nexi (2.4%) also posted considerable gains. Banking stocks rebounded after softer-than-expected inflation data from the Eurozone's largest economies annuled bets on larger ECB rate hikes this year. The domestic rate softened to 3%, undershooting expectations of 3.1%. BPER Banca climbed 3.1%, followed by UniCredit (2.0%), FinecoBank (1.9%), Mediobanca (1.7%), Banco Mediolanum (1.6%), Intesa Sanpaolo (1.5%), Banca Monte dei Paschi di Siena (1.2%), and Banco BPM (1.1%). Insurers Unipol (3.0%) and Generali (1.7%) also advanced. Semiconductor and AI stocks benefited from a global rally, lifting STMicroelectronics (1.5%) and Prysmian (0.9%). Oil linked firms, Saipem (3.8%) and Eni (0.6%), continue to gain while oil traffic regains.

The FTSE MIB Index gained 519 points or 1.01 percent on Tuesday to close at 51682 points. Gains were led by Avio (6.68%), Saipem (3.66%) and Unipol Gruppo (3.50%).

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.