FTSE MIB Closes Sharply Lower

2026-07-23 15:50 By Larissa Caser 1 min. read

The FTSE MIB plunged 2.8% to close at 51,316 on Thursday, pressured by rising oil prices and weaker-than-expected chip earnings.

STMicroelectronics tumbled 17.7%, leading losses after reporting results below expectations, despite forecasting accelerating revenue growth in the fourth quarter on stronger data center demand.

Moncler dropped 7.9% as weaker European sales overshadowed resilient Asian demand.

Ferrari (-3.4%) and Campari (-3.3%) followed.

The ECB left interest rates unchanged, with markets now expecting a rate hike in September amid rising oil prices.

Higher sovereign yields followed, with the BTP-Bund spread increasing to 85 bps, weighing on banks balance sheets and pressuring financial firms.

UniCredit fell 4.8% despite upbeat earnings and upgraded profit outlook, as uncertainty surrounding its suspended share buyback while pursuing Commerzbank weighed on the lender, aiming to acquire the German lender by year-end.

Nexi shed 6%, also weighing on the index.



News Stream
The FTSE MIB Index Closes 2.80% Lower
The FTSE MIB Index decreased 1476 points or 2.80 percent on Thursday to close at 51316 points. The decline was led by STMicroelectronics (-18.18%), Moncler (-9.01%) and Nexi (-5.62%).
2026-07-23
FTSE MIB Closes Sharply Lower
The FTSE MIB plunged 2.8% to close at 51,316 on Thursday, pressured by rising oil prices and weaker-than-expected chip earnings. STMicroelectronics tumbled 17.7%, leading losses after reporting results below expectations, despite forecasting accelerating revenue growth in the fourth quarter on stronger data center demand. Moncler dropped 7.9% as weaker European sales overshadowed resilient Asian demand. Ferrari (-3.4%) and Campari (-3.3%) followed. The ECB left interest rates unchanged, with markets now expecting a rate hike in September amid rising oil prices. Higher sovereign yields followed, with the BTP-Bund spread increasing to 85 bps, weighing on banks balance sheets and pressuring financial firms. UniCredit fell 4.8% despite upbeat earnings and upgraded profit outlook, as uncertainty surrounding its suspended share buyback while pursuing Commerzbank weighed on the lender, aiming to acquire the German lender by year-end. Nexi shed 6%, also weighing on the index.
2026-07-23
FTSE MIB Falls More Than 1%
The FTSE MIB fell more than 1% to around 52,100 on Thursday, giving back the previous session's gains as escalating Middle East tensions weighed on sentiment. President Donald Trump warned of strikes on Iranian infrastructure if shipping through the Strait of Hormuz is attacked, while Iran-backed Houthi militants claimed attacks on two Saudi oil tankers in the Red Sea, raising fears of broader supply disruptions. Meanwhile, investors digested a fresh round of corporate earnings while awaiting the ECB's policy decision, where rates are widely expected to remain unchanged. STMicroelectronics led losses, tumbling more than 14% after reporting quarterly profit and sales guidance below expectations despite forecasting stronger AI data center-driven revenue later this year. Moncler also dropped nearly 7% despite reporting Q2 revenue above expectations, as investors focused on weaker European sales that partly offset strong Asian demand.
2026-07-23