The FTSE MIB Index Closes 0.66% Higher

The FTSE MIB Index rose 335 points or 0.66 percent on Monday to close at 50818 points. Leading the gains are Tenaris (4.97%), Fincantieri (4.66%) and Amplifon (4.59%). Top losers were Mediobanca (-4.96%), Telecom Italia (-1.70%) and Prysmian (-1.56%).

The FTSE MIB rose 0.7% to 50,818 on Monday, as Italian banking mergers remained in focus. Intesa Sanpaolo (1.6%) gained after MPS (0.8%)’s largest shareholder, Delfin Sarl, backed its takeover offer of the Tuscan lender and decided to tender its entire 17.6% stake of MPS, boosting Intesa's chances of closing one of Italy’s largest bank deals ever. The move came after Intesa threatened to withdraw its bid if MPS shareholders approved the rival takeover of Banco BPM (0.3%) and Generali’s (1.2%) Banca Generali, weakening the counterbid. Mediobanca plunged 5.1%, as it had been acquired by MPS. Unipol climbed 4%, as it will receive half of the Sienese bank and merge with BPER Banca (2.3%). Defense stocks climbed, as it becomes a booming industry in Europe with governments seeking to increase military spending in the face of intensifying threats from Russia. Fincantieri gained 4.5%, while Avio (3.2%) and Leonardo (1.9%) followed. Energy stocks also advanced, led by Tenaris (5.3%).

The FTSE MIB rose to around 50,700 on Monday, extending its rebound from the previous session after briefly hitting its lowest level since June. This comes as oil prices eased, offering some relief, while markets continued to assess broader fiscal and political uncertainty across the region. On the economic data front, fresh PMI surveys showed Italy’s services sector expanded at its weakest pace in three months in September and below expectations, while private sector activity also grew at the slowest pace since June. Across the bourse, Unipol rose 4.6%, while Bper Banca gained 2.0%, Tenaris advanced 1.3% and Intesa Sanpaolo added 1.1%. Meanwhile, Mediobanca plunged 7.6% after Intesa Sanpaolo sweetened its offer for Monte dei Paschi di Siena, with MPS’s largest shareholder Delfin backing the revised bid. Telecom Italia fell also 0.8%, while Prysmian and Snam declined 1.0% and 0.8%, respectively.