The FTSE MIB Index Closes 0.25% Higher

The FTSE MIB Index went up by 129 points or 0.25 percent on Monday to close at 52230 points. The rise was led by Lottomatica (8.65%), STMicroelectronics (4.11%) and Avio (2.95%). On the downside, the weakerst performers were Telecom Italia (-3.12%), Poste Italiane (-2.38%) and Snam (-2.01%).

The FTSE MIB edged up 0.3% to 52,230 on Monday amid several macroeconomic developments. Talks over contributions from banks and energy firms to help fill the government’s budget shortfall continued over the weekend. Energy stocks outperformed, tracking higher oil prices, led by Tenaris (1.1%). Heavyweight financials were mixed, while the banking game remained in focus ahead of Intesa’s shareholder meeting on Thursday to approve the capital increase for MPS’s takeover. Stellantis rose 0.4% while Canadian tariffs on US goods are set to take effect on Tuesday. Meanwhile, Italy recorded its hottest summer since 1950, pointing to increased demand for electricity used for cooling, although continued tensions in the Middle East threaten firms’ margins by pushing European gas prices higher. Snam fell 2.2%. Defense contractor Leonardo declined 0.5% after signing a production contract for the Brazilian army.

The FTSE MIB was flat to slightly lower around 52,000 on Monday as investors tracked Middle East developments. The US and Iran continued to exchange strikes, with Tehran threatening to establish a new restricted zone outside the Strait of Hormuz. Attention also turned to the ECB's expected rate hike later this week as the conflict keeps oil prices elevated and fuels inflation concerns. Among laggards, Telecom Italia (-1.1%), Enel (-0.8%) and Poste Italiane (-0.9%) traded lower. In contrast, Eni climbed 1.5% as crude oil prices rose, while Tenaris and Saipem each added 1.7%. Technology shares also outperformed, with STMicroelectronics (+2.3%) and Prysmian (+1.9%) tracking a global tech rally. Financial stocks were little changed after Economy Minister Giancarlo Giorgetti reiterated the government's neutral stance on the M&A battle for MPS, saying the Treasury would retain its 4.9% stake until the process concludes.