FTSE MIB rises toward 52,800 on tech stabilization
The FTSE MIB rose to around 52,800 on Tuesday, bouncing off a three-week low as tech stocks stabilized; Prysmian led gains and investors awaited Nvidia earnings later this week.
The FTSE MIB rose to around 52,800 on Tuesday, bouncing off a three-week low, as tech stocks stabilized helping improve risk sentiment.
Investors awaited Nvidia’s earnings later this week for clues on the durability of the AI-driven rally, while monitoring US-Iran tensions.
Prysmian led gains, advancing more than 3%, while STMicroelectronics gained nearly 1%.
Other notable gainers included Tenaris (+2.7%), Saipem (+1.7%), and Lottomatica (+1.3%).
Financial stocks also advanced amid developments in Italy’s banking consolidation.
Intesa Sanpaolo rose 1.0% ahead of a shareholder vote on its capital increase to fund the MPS bid, while MPS gained 0.6% as Banco BPM’s board considered its takeover offer.
Banco BPM rose 0.8%, although the board was reportedly unlikely to decide Tuesday and could continue talks with MPS.
Generali added 0.5% ahead of a Thursday board meeting to assess MPS’s offer for Banca Generali, while Mediobanca gained 0.8%.