The FTSE MIB Index Closes 1.34% Higher

The FTSE MIB Index went up by 699 points or 1.34 percent on Monday to close at 52872 points. The rise was led by Brunello Cucinelli (5.30%), Diasorin (4.59%) and Avio (4.34%).

The FTSE MIB rose 1.3% to 52,871 on Monday, supported by improved investor sentiment on utilities and banking stocks. Financials outperformed after reports that the proposed merger of equals between BMPS (0%) and Banco BPM (2.4%) had stalled, paving the way for Intesa Sanpaolo (2.3%) to pursue the Siena-based lender. If completed, the deal would make Intesa Eurozone's second-largest bank, with the lender targeting shareholder approval for its capital increase by September and completion by year-end. Likewise, UniCredit gained 3%. Utilities also rebounded as European natural gas prices eased on hopes of de-escalating tensions in the Middle East, with Hera rising 1.8%. Meanwhile, Brunello Cucinelli (5%), Diasorin (4.6%) and Avio (4.3%) also posted strong gains. On the downside, Eni slipped 1.2%, tracking lower oil prices. Prysmian fell 0.7% after announcing its mostly debt-funded acquisition of US-based Atkore.

The FTSE MIB rose to around 52,500 on the first trading day of August, moving back toward record levels, as sentiment improved after US President Donald Trump announced that negotiations with Iran would resume following his decision to call off a planned attack on the country. The development sent oil prices lower, easing concerns over inflation and higher interest rates. In corporate news, Prysmian edged up 0.2% after announcing an all-cash deal to acquire electrical manufacturing company Atkore Inc. Across the bourse, financial stocks led the gains, including Unicredit (+1.8%), Intesa Sanpaolo (+1.1%), Banco BPM (+1.7%), Unipol Gruppo (+1.5%), and BPER Banca (+1.5%). Automakers and luxury stocks also advanced, with Ferrari (+2.4%), Stellantis (+3.5%), Moncler (+0.7%), and Brunello Cucinelli (+1.7%) posting gains. On the other hand, oil major Eni fell more than 2%.