The FTSE MIB Index Closes 0.58% Higher

The FTSE MIB Index rose 289 points or 0.58 percent on Monday to close at 50035 points. Leading the gains are Davide Campari-Milano (2.99%), Avio (2.75%) and Infrastrutture Wire (2.56%). Top losers were STMicroelectronics (-2.17%), Unipol Gruppo (-1.65%) and Amplifon (-1.63%).

The FTSE MIB closed 0.6% higher at 50,035 on Monday, extending gains from the prior session amid gains across sectors. Financials moved mostly higher ahead of further news on Milan's banking game. MPS gained 1.4% ahead of an extraordinary board meeting to review the relaunch of Intesa’s takeover bid last week. BPER (2.2%), Mediobanca (1.3%), Intesa (1.1%) and Generali (1.1%) also gained, while Unicredit traded near the flat line. Inwit climbed 1.8% following reports that its largest shareholders were arranging financing for a potential take-private deal. Luxury stocks also moved higher, with Campari leading the index at 3%. On the downside, Stellantis fell 0.8% as its CEO rejected the idea of separating the group’s European and US brands. The automaker is reviewing its strategy to better allocate spending across its brands, while its shares are down nearly 60% so far this year. Technology stocks underperformed, led by Technoprobe (-2.5%), and STMicroelectronics (-2.1%).

Italy’s FTSE MIB rose 0.8% to above 50,100 on Monday, supported by easing oil prices and strength in banking stocks. Hopes for a Russia-Ukraine energy ceasefire and softer bond yields lifted broader European market sentiment, while investors looked ahead to corporate earnings for fresh direction. Among banks, Intesa Sanpaolo, Mediobanca and Banca Monte dei Paschi di Siena gained more than 1% as investors continued to monitor developments surrounding Intesa’s takeover bid for MPS. On other gainers, Stellantis jumped nearly 3% ahead of the Paris Motor Show, where automakers were set to unveil new models. INWIT also climbed over 4% amid reports that its leading shareholders were arranging financing for a potential take-private deal. Meanwhile, Unipol fell 1% as a capital increase began to finance a potential acquisition of MPS branches.