FTSE MIB Closes Sharply Lower

2026-09-01 16:00 By Larissa Caser 1 min. read

The FTSE MIB fell 1.3% to 51,915 on Tuesday, as markets assessed the impact on escalating tensions in the Middle East across sectors.

Heavyweight financials declined as Eurozone inflation accelerated to 3.3% in August, a nearly three-year high, while rising global bond yields and higher oil prices reinforced expectations of an ECB rate hike next week.

In Milan, ongoing banking consolidation remained in focus, with the former Economy Minister Tremonti urging caution over “adventures” in finance.

Losses were seen in Intesa Sanpaolo (-1.8%), MPS (-1.4%) and UniCredit (-1%).

Utilities remained under pressure as European gas prices climbed to three-year highs.

Stellantis fell 2.4% after halting production in Turin due to an engine-component shortage amid stronger-than-expected demand for hybrid vehicles, partly driven by higher fuel prices.

On the upside, Tenaris (1.9%) and Eni (1.5%) advanced, tracking higher oil prices as the conflict in the Middle East continued to escalate.



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