FTSE MIB Moves Higher

The FTSE MIB rose to around 51,900 on Monday, paring losses from last week, as oil prices eased for a fourth consecutive session, soothing some concerns over inflationary pressures. Sentiment was also lifted by optimism ahead of this week’s Trump-Xi summit. Domestically, the Italian government planned to reduce the country’s gas-price premium and said it was prepared to act even without EU approval. Financial stocks led gains, with Banco BPM up 3.8%, UniCredit 1.5% and BPER Banca 1.2%. Intesa Sanpaolo (+1.2%) and Monte dei Paschi di Siena (+1.1%) also gained amid reports that the ECB could approve Intesa’s takeover bid for MPS by mid-October, with the tender offer potentially starting in mid-November. Technology shares also advanced, with Prysmian and STMicroelectronics gaining 2.2% and 1.7%, respectively.

The FTSE MIB Index dropped 840 points or 1.60 percent on Friday to close at 51545 points. Losses were led by Stellantis N.V. (-5.95%), Hera (-3.02%) and UniCredit (-2.83%).

The FTSE MIB plunged 1.7% to 51,545 on Friday amid broad selling as energy-supply concerns weighed on the index. Eurozone sovereign yields rebounded after reports that Saudi Arabia would not supply oil to European buyers next month, raising fears of further inflationary pressure. In Milan, worries over Italy's swelling public debt also weighed, with the latest budget plan projecting debt near 139% of GDP, replacing Greece at the eurozone's bottom. Higher bond yields pressured bank balance sheets, with Unipol, UniCredit, Banco BPM and BPER Banca all falling more than 2%. Defense stocks underperformed, led by Fincantieri (-1%). Utilities reversed recent gains as European gas prices rebounded, led by A2A (-3.2%). Stellantis plunged 5.2% after reports it plans to sell its Toronto facility, citing "no long-term business case" for auto manufacturing there amid unpredictable US–Canada trade policies.