The FTSE MIB Index Closes 2.51% Lower

The FTSE MIB Index dropped 1289 points or 2.51 percent on Wednesday to close at 49972 points. Losses were led by Technoprobe (-6.35%), Prysmian (-4.68%) and UniCredit (-4.40%).

The FTSE MIB plunged 2.5% to 49,972 on Wednesday, tracking a global selloff in bond markets that weighed across sectors. Sovereign yields came under renewed pressure amid concerns over debt sustainability, particularly in France, while elevated energy prices kept inflation risks in focus as tensions around the Strait of Hormuz persisted. Financial stocks underperformed as higher yields pressured banks, with UniCredit, MPS, Intesa Sanpaolo and BPER Banca falling between 3.6% and 4.2%. Technology stocks also declined sharply, mirroring broader sector losses, with Technoprobe leading the index lower at 6%, followed by Prysmian (-4.7%) and STMicroelectronics (-4.1%). Defense stocks weakened as well, led by Leonardo (-2.6%). Stellantis bucked the trend, rising 1.4% as the EU considers restrictions on Chinese hybrid imports to support European automakers, that have been pressured by surging sales from Chinese automakers.

The FTSE MIB fell over 1% to around 50,500 on Wednesday, ending a three-session winning streak and tracking broader European losses as investors remained cautious amid continued tensions in the Middle East. Oil prices rose amid escalating Saudi-Houthi tensions and a storm threat in the Gulf of Mexico, while higher bond yields also pressured sentiment. Banks led the decline, with BPER Banca down 1.9%, Banco BPM 1.7%, UniCredit 1%, Intesa Sanpaolo 0.9%, and MPS 0.8%. Industrials and technology also weighed, with Prysmian falling 2.7%, STMicroelectronics 1.6%, and Fincantieri 1.2%. On the flipside, gains were seen in Stellantis (+2%), Inwit (+1.9%), and Telecom Italia (+1.6%).