The FTSE MIB Index Closes 0.01% Higher

The FTSE MIB closed largely unchanged at 53,587 on Monday, as positive corporate news offset a mostly negative session for banks. Technology stocks led gains, tracking broader sector strength following strong second-quarter revenue from Anthropic. STMicroelectronics rose 5%, while Prysmian added 2.4%. Ferrari gained 1.4% following the auction of its first fully electric vehicle for $40 million. Meanwhile, with markets largely ruling out a September Fed rate hike, Italian financials remained under pressure from ongoing consolidation prospects. MPS CEO reiterated over the weekend the need to preserve the bank’s independence amid a takeover bid from Intesa Sanpaolo (-0.5%). UniCredit declined 0.7% amid reports that Berlin could sell its 12% stake in Commerzbank to the lender. On the downside, Nexi fell 4.3%, and Stellantis dropped 4.1% after recalling 955,000 vehicles worldwide.

The FTSE MIB Index went up by 3 points or 0.01 percent on Monday to close at 53587 points. The rise was led by STMicroelectronics (5.04%), Prysmian (2.66%) and Finecobank (2.08%). On the downside, the weakerst performers were Stellantis N.V. (-3.90%), Fincantieri (-3.66%) and Nexi (-3.58%).

The FTSE MIB rose to around 53,800 on Monday, continuing to consolidate near record levels reached earlier this month. Sentiment was supported by fading expectations of a Federal Reserve rate hike at its September meeting, while markets continued to monitor developments in the Middle East. Technology shares led the gains, mirroring strength in Asian markets, with STMicroelectronics and Prysmian climbing more than 3% each. Ferrari advanced nearly 2% after its first electric car, the Luce, sold for a record $40 million at auction, highlighting strong interest in the luxury automaker’s new EV despite earlier criticism. Other notable gainers included Saipem (+1%), Unipol Gruppo (+0.8%), FinecoBank (+1.4%), and Italgas (+1%). On the flip side, Fincantieri led the losses, falling nearly 2%.