Italian Stocks Plunge to May Low

2026-10-22 15:50 By Larissa Caser 1 min. read

Italy’s FTSE MIB closed 2.5% lower to 48,384 on Thursday, nearing its lowest level since May, as banking and tech stocks led losses.

AI-related shares came under pressure amid renewed valuation concerns, with Technoprobe (-7.6%), Prysmian (-7.6%) and STMicroelectronics (-5%) dropping sharply.

Protests by truck drivers and farmers in southern Italy also added pressure, causing shortages of food and industrial components and prompting the government to approve additional spending to aid diesel purchases.

The BTP-Bund spread widened to 126 bps, reflecting a growing risk premium and weighing on banks, with UniCredit down 4.7%.

Stellantis was also affected, falling 0.6% after halting production at three regional plants.

European gas prices approached a four-year high, pressuring utilities, while Italgas slipped 1%.

Energy firms also declined as oil prices edged lower, while Saipem fell 6% while signing a preliminary agreement with Egypt’s MDC to explore offshore drilling projects in Egypt.



News Stream
FTSE MIB Extends Losses
Italy’s FTSE MIB extended its losses to around 48,300 on Friday, hovering near its lowest level since May, as losses in luxury stocks offset gains in energy shares. Eni climbed more than 3% after reporting third-quarter adjusted net profit of €2.8 billion, more than double the year-earlier figure, and announcing a €1.3 billion special dividend and an increase in its share buyback programme. Tenaris and Saipem also advanced 1.8% and 1.5%, respectively. On the downside, Moncler fell 2.1% and Brunello Cucinelli dropped 1.9%, as recent disappointing earnings from regional peers dampened hopes for a recovery in the sector. Automotive stock Stellantis also fell 2%. Investors also monitored developments in Italy’s banking sector ahead of an October 29 MPS shareholder meeting on its proposed merger with Mediobanca, amid reports of potential opposition from Banco BPM stakeholders. For the week, the benchmark index was on track to decline around 3%.
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The FTSE MIB Index Closes 2.54% Lower
The FTSE MIB Index dropped 1260 points or 2.54 percent on Thursday to close at 48384 points. Losses were led by Prysmian (-8.06%), Saipem (-5.66%) and Tenaris (-5.01%).
2026-10-22
Italian Stocks Plunge to May Low
Italy’s FTSE MIB closed 2.5% lower to 48,384 on Thursday, nearing its lowest level since May, as banking and tech stocks led losses. AI-related shares came under pressure amid renewed valuation concerns, with Technoprobe (-7.6%), Prysmian (-7.6%) and STMicroelectronics (-5%) dropping sharply. Protests by truck drivers and farmers in southern Italy also added pressure, causing shortages of food and industrial components and prompting the government to approve additional spending to aid diesel purchases. The BTP-Bund spread widened to 126 bps, reflecting a growing risk premium and weighing on banks, with UniCredit down 4.7%. Stellantis was also affected, falling 0.6% after halting production at three regional plants. European gas prices approached a four-year high, pressuring utilities, while Italgas slipped 1%. Energy firms also declined as oil prices edged lower, while Saipem fell 6% while signing a preliminary agreement with Egypt’s MDC to explore offshore drilling projects in Egypt.
2026-10-22