FTSE MIB Closes Higher

The FTSE MIB Index gained 422 points or 0.81 percent on Tuesday to close at 52285 points. Gains were led by STMicroelectronics (4.34%), Prysmian (4.20%) and Finecobank (1.96%). Biggest losers were Diasorin (-3.96%), Infrastrutture Wire (-2.58%) and Amplifon (-2.27%).

The FTSE MIB rose 0.8% to close at 52,285 on Tuesday, led by technology and defense stocks. Semiconductor shares rebounded as optimism surrounding artificial intelligence improved, with STMicroelectronics jumping 4.2%, while Prysmian also gained 4.2% after securing a €5.5 billion long-term agreement with Molex to supply cables for data centers. Defense stocks advanced on expectations that the UK could increase military spending following the appointment of its new finance minister. Leonardo rose 1.8% after announcing new agreements with Saudi Arabia and Indonesia and reaffirming plans to accelerate deliveries and technology development. Fincantieri added 1.1% after Portugal ordered three frigates from the shipbuilder. Finecobank led gains on the banking sector at 2%, while UniCredit gained 1.9% ahead of its earnings release. Meanwhile, utility stocks underperformed as higher natural gas prices weighed on the sector.

The FTSE MIB rose to around 52,100 on Tuesday, following a subdued previous session, as markets continued to monitor developments in the Middle East. Oil prices eased following reports that diplomats were seeking to restore the ceasefire between the US and Iran. Still, uncertainty remained elevated as US military strikes continued for a tenth consecutive night. Meanwhile, markets expect the ECB to leave interest rates unchanged this week as policymakers assess the effects of June's tightening. Across the bourse, technology-related stocks led gains, tracking a broader rebound among their Asian peers, with STMicroelectronics and Prysmian rising about 2% and 3%, respectively. Defence stock Leonardo also climbed more than 3% after receiving helicopter orders from Saudi Arabia's Public Investment Fund-backed THC. On the downside, losses were led by Tenaris (-1.8%), Moncler (-1.3%), Davide Campari-Milano (-1.2%), and Infrastrutture Wireless Italiane (-1.2%).