The FTSE MIB Index Closes 0.69% Lower

The FTSE MIB fell 0.7% to close at 51,698 on Tuesday as the war in the Middle East hampered Saipem's corporate results, while growing skepticism on AI overspending dented equity demand across the globe. Saipem tumbled 8.8% after lowering its core earnings forecast, citing higher costs and logistical disruptions linked to the Gulf conflict. Other energy stocks also declined, with Tenaris and Eni losing more than 1.5%. Semiconductor stocks remained under pressure as investors questioned elevated valuations amid concerns over AI investments ahead of earnings reports from major tech firms. Prysmian dropped 4.3%, while STMicroelectronics lost 3.1%. Banking stocks underperformed, led by BMPS (-1.9%) and Banco BPM (-1.8%), as reports of a potential merger between the two lenders raised uncertainty over Intesa Sanpaolo's (-0.4%) takeover bid. On the upside, Campari (3.4%), Amplifon (3%), and Ferrari (2.9%) extended gains from the previous session.

The FTSE MIB Index dropped 357 points or 0.69 percent on Tuesday to close at 51698 points. Losses were led by Saipem (-9.67%), Prysmian (-4.96%) and STMicroelectronics (-3.55%). Offsetting the fall, top gainers were Diasorin (5.28%), Davide Campari-Milano (3.38%) and Amplifon (3.00%).

The FTSE MIB edged higher to around 52,100 on Tuesday, modestly extending gains from the previous session as sentiment continued to improve following easing oil prices amid a pause in hostilities between the US and Iran. Investors also continued to digest a fresh batch of corporate earnings. Lottomatica gained more than 3% after reporting better-than-expected earnings and reaffirming its upbeat 2026 outlook. Other top performers included Ferrari (+1.5%), Leonardo (+1.9%), Mediobanca (+1.1%), and Banca Monte dei Paschi di Siena (+1.1%). Meanwhile, Saipem plunged more than 7% after the oil and gas contractor lowered its 2026 core earnings guidance to reflect additional costs related to the Middle East crisis and reported a sharp drop in second-quarter profit. Other notable laggards included technology-related stocks, with STMicroelectronics and Prysmian falling more than 1% and 2%, respectively, tracking the global technology selloff.