The FTSE MIB Index Closes 1.60% Higher

The FTSE MIB Index went up by 826 points or 1.60 percent on Monday to close at 52372 points. The rise was led by Banco BPM SPA (4.30%), UniCredit (3.38%) and STMicroelectronics (3.00%).

The FTSE MIB rose 1.6% to 52,372 on Monday, amid widespread positive sentiment as global oil prices declined for a fourth consecutive session. As a result, sovereign yields declined, providing some respite for financials. Banco BPM advanced 4.3% amid rumours of a joint venture by UniCredit (3.2%) and Credit Agricole, reflecting growing competition in the banking sector. Adding further support, EU officials stressed the need for greater scale among European banks in an increasingly competitive global economy. UniCredit reiterated the statement while confirming its commitment to Commerzbank and noting significant progress on the acquisition. Tech stocks outperformed, tracking an AI demand-driven rally, with STMicroelectronics (3%) and Prysmian (3%) advancing, while newly added index constituent Technoprobe (5.3%) led gains on the index. Ferrari also advanced, gaining 2.7%.

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.