The FTSE MIB Index Closes 0.97% Higher

The FTSE MIB Index rose 507 points or 0.97 percent on Wednesday to close at 52792 points. Leading the gains are Infrastrutture Wire (4.30%), Tenaris (2.78%) and Banca Monte dei Paschi di Siena (2.40%). Top losers were Prysmian (-1.27%), Banco BPM SPA (-0.89%) and Diasorin (-0.62%).

The FTSE MIB rose 1% to close at 52,792 on Wednesday, supported by gains in energy and financial stocks. Oil-related shares outperformed as geopolitical tensions lifted oil and fuel prices. The US renewed threats to target Iranian infrastructure, while renewed Houthi threats against shipping in the Red Sea reinforced concerns over global oil supplies. Tenaris led energy gains, rising 3%, followed by Saipem (2.9%) and Eni (2.3%). Financials also advanced as markets continued to expect the ECB to leave interest rates unchanged at tomorrow's decision, while sentiment was supported by Santander's upbeat earnings and Barclays' upward revisions to revenue forecasts for Italian financial companies. Generali, Barclays' preferred pick, gained 1%, while Unipol rose 2.2%, BMPS rose 2.4%, Banca Mediolanum added 2.3%. Inwit was the top performer on the index, climbing 4.5%. Meanwhile, STMicroelectronics also rose 1.6% on renewed sentiment on AI investments, while defense stocks also traded higher.

The FTSE MIB edged higher to around 52,300 on Wednesday, loosely extending gains from the previous session, driven by advances in energy and financial shares. Oil majors led the gains, with Eni rising 1.4%, Tenaris adding 1.6%, and Saipem gaining over 2%, tracking higher crude prices, which climbed about 4%. Financial stocks were also broadly firmer, including Unipol Gruppo (+1.7%), Mediobanca (+0.7%), Banca Mediolanum (+0.6%), and Banca Monte dei Paschi di Siena (+1%). On the downside, technology shares underperformed, with Prysmian and STMicroelectronics each declining 1.0%, as traders awaited key earnings results from Alphabet and Tesla later in the day. Auto and luxury shares also came under pressure, with losses from Ferrari (-0.9%), Stellantis (-0.6%), Moncler (-1.9%), and Brunello Cucinelli (-0.8%).