The FTSE MIB Index Closes 0.49% Higher

The FTSE MIB Index went up by 253 points or 0.49 percent on Monday to close at 52055 points. The rise was led by Ferrari NV (4.29%), Lottomatica (3.16%) and Buzzi Unicem (2.80%). On the downside, the weakerst performers were Prysmian (-3.78%), Tenaris (-2.82%) and Eni (-2.44%).

The FTSE MIB rose 0.5% to 52,055 on Monday, tracking a broader improvement in risk appetite amid hopes for renewed diplomacy in the Middle East. Banking stocks gained on the session amid lower energy prices and easing concerns over inflationary pressures as sovereign bond yields retreated. UniCredit advanced 1.6%, following positive reviews from JPMorgan and Morgan Stanley. Amplifon gained 2.6% after JPMorgan raised its recommendation of the stock. Buzzi gained 2.8% on reconstruction activity prospects. In the luxury sector, Brunello Cucinelli (2.4%) and Campari (1.9%) climbed ahead of LVMH's earnings release. Ferrari outperformed with a 4.3% gain, leading gains on the index, following progress reports regarding its share buyback program. Meanwhile, technology and energy stocks underperformed, with Prysmian, Tenaris, and Eni all falling more than 2%, weighed by ongoing concerns over AI-related overspending and lower oil prices.

The FTSE MIB rose to around 52,000 on Monday, extending gains from the previous session, as risk sentiment improved following reports that the US and Iran had paused hostilities. The US extended a pause in airstrikes on Iran for a second night, while Tehran refrained from retaliation, sparking hopes of a broader de-escalation. The pause coincided with Oman-mediated talks on managing shipping through the Strait of Hormuz, potentially reducing risks to oil flows. The developments weighed on oil prices, with Brent crude sliding below $91 per barrel. On the bourse, heavyweight financial stocks led gains, including UniCredit (+1.7%), Banca Monte dei Paschi di Siena (+0.9%), Banco BPM (+0.8%), Assicurazioni Generali (+0.9%), and Mediobanca (+1.1%). On the flip side, oil major Eni fell more than 4%.