The FTSE MIB Index Closes 0.21% Lower

The FTSE MIB Index decreased 107 points or 0.21 percent on Monday to close at 51760 points. The decline was led by Infrastrutture Wire (-2.46%), Ferrari NV (-2.31%) and Enel (-2.24%). On the upside, the strongest performers were Amplifon (6.08%), Moncler (2.44%) and Eni (2.03%).

The FTSE MIB fell 0.2% to 51,760 on Monday, paring earlier gains following reports of several planned tax cuts in the government’s 2027 budget plan. Ahead of next year’s general election, Prime Minister Meloni’s latest and upcoming budget is reportedly set to include multiple tax cuts, adding to uncertainty surrounding the country’s fiscal position amid elevated energy prices. Sovereign yields also climbed, weighing on heavyweight financials. Banks were mixed, with Finecobank falling 0.9%, while Banca Mediolanum gained 1.3%. Insurer Generali also underperformed, falling 1.5%. Eni advanced 2.7% amid rising oil prices and following its decision to cap fuel prices in Italy, potentially averting additional taxation by the government. Luxury stocks traded higher, led by Brunello Cucinelli (2.3%) and Moncler (2.1%). Meanwhile, Telecom fell 2.3% following the conclusion of Poste Italiane’s takeover bid. Other notable decliners included Inwit (-2.5%), Ferrari (-2.3%) and Enel (-1.6%).

The FTSE MIB edged above 51,900 on Monday, extending gains from the previous session, as markets appeared to overlook higher oil prices after US President Donald Trump rejected Iran’s latest offer to reopen the Strait of Hormuz. Across the bourse, luxury and auto shares outperformed. Stellantis advanced more than 2% after the US moved to ease fuel-economy requirements, reducing regulatory pressure to accelerate EV adoption and giving its Jeep and Ram brands more flexibility, while a partnership with China’s Momenta to develop advanced driver-assistance systems for Jeep and Peugeot added further support. Ferrari also rose 1.5%, while luxury names Moncler and Brunello Cucinelli gained more than 1% each. On the flipside, Telecom Italia fell 2.5% after Poste Italiane’s takeover offer reached 85.8% of TIM, below the 90% squeeze-out threshold but sufficient to proceed with the merger and delisting.