The FTSE MIB Index Closes 0.08% Higher

The FTSE MIB closed largely unchanged at 53,706 on Tuesday, as gains in energy and defense stocks offset losses in autos and utilities. Eni advanced 2% amid uncertainty surrounding conflicting statements over a potential Middle East peace agreement, while Saipem added 0.4%. Defense stocks also outperformed, led by Leonardo, which gained 0.7% after RBC analysts rated the stock “outperform”. Fincantieri rose 0.2%. Financials were mixed despite Morningstar DBRS reporting another solid set of first-half results from Italy’s largest banks. UniCredit (0.3%), BPER Banca (0.2%) and BMPS (0.2%) all advanced, while Banco BPM fell 0.9% and Intesa Sanpaolo lost 0.3%. On the downside, Stellantis fell 2.6% as intensifying competition from Chinese automakers weighed on sentiment, while the company’s backing of Leapmotor underscored the growing competitive pressure in overseas markets. Utilities extended losses from the previous session, led by Enel, which fell 0.9%.

The FTSE MIB Index gained 42 points or 0.08 percent on Tuesday to close at 53706 points. Gains were led by Eni (2.01%), Prysmian (1.77%) and Azimut Holding (1.60%). Biggest losers were Stellantis N.V. (-2.13%), Enel (-0.91%) and Banco BPM SPA (-0.88%).

The FTSE MIB edged above 53,700 on Tuesday, hovering near record levels, as markets largely shrugged off another rise in oil prices amid growing uncertainty over prospects for a US-Iran deal. Energy-related shares outperformed, with oil major Eni advancing more than 2%, while oilfield services firm Saipem gained 0.8% and Tenaris, a steel pipe supplier to the petroleum industry, rose 1.4%. Technology-related stocks STMicroelectronics and Prysmian also gained, climbing 0.3% and 0.7%, as the tech sector drew support from news that Intel raised $20 billion through an upsized share sale, while Nvidia announced plans to secure $500 billion in financing for AI infrastructure. Luxury stocks Moncler (+0.8%) and Brunello Cucinelli (+1.4%) also traded higher.