FTSE MIB Falls for Third Session

The FTSE MIB fell to around 51,800 on Thursday, declining for the third straight session, as sentiment continued to be dampened by lingering uncertainty over US-Iran talks. The absence of concrete progress has pushed oil prices higher, keeping sovereign yields elevated. At the sector level, defense stocks were among the early laggards, with Leonardo and Fincantieri declining around 2% each. Other key decliners included Telecom Italia (-1.4%), STMicroelectronics (-1.3%), and Snam (-0.8%). Meanwhile, financial stocks were mixed as merger talks remained in focus. UniCredit fell 0.3%, while BPER Banca (-0.2%) and Unipol (-0.5%) also traded lower, while Intesa Sanpaolo (+0.8%), Generali (+0.5%), Banco BPM (+0.7%), and MPS (+0.2%) traded in the green.

The FTSE MIB Index fell 108 points or 0.21 percent on Wednesday to close at 51987 points. Leading the losses are Unipol Gruppo (-2.49%), Assicurazioni Generali (-2.30%) and Prysmian (-1.86%). Top gainers were Eni (2.82%), Brunello Cucinelli (1.75%) and Amplifon (1.50%).

The FTSE MIB fell 0.2% to 51,987 on Wednesday, amid merger talks in Milan, while concerns over the country’s budget deficit weighed on the index. Italy’s budget deficit was confirmed at 3.1% in 2025, above the EU’s ceiling, raising concerns over increased spending on defense and energy. However, Italy plans to confirm a commitment to bring its deficit below 3% this year. Meanwhile, sovereign yields increased following stronger-than-expected PMI data, raising bets of an ECB rate hike. Financials were mixed following reports that Italy will abstain from a vote at an MPS (0.4%) shareholder meeting to approve the defensive acquisitions of Generali-controlled (2.3%) Banca Generali and Banco BPM (1.2%). Intesa slipped 0.4%. On the upside, as global oil prices snapped a streak of consecutive declines, energy stocks advanced, led by Eni (2.8%). Defense Leonardo (1.1%) and Fincantieri (0.2%) outperformed. Avio rose 1.9% following upbeat revenue estimates from Intesa.