FTSE MIB edges higher near 52,700

The FTSE MIB edged higher to around 52,700 on Wednesday, loosely extending gains from the previous session, as falling oil prices pushed bond yields lower on optimism that energy flows could resume through the Strait of Hormuz after Iran and Oman discussed an interim framework.

Oil major Eni declined more than 1%, tracking falling crude prices.

Meanwhile, tech stocks Prysmian (+0.5%) and STMicroelectronics (+0.1%) edged higher ahead of Nvidia’s earnings, which could offer fresh signals on the AI boom.

Financial stocks were also mostly in the green, including Banca MPS (+0.2%), Banco BPM (+0.4%), Mediobanca (+0.3%), Intesa Sanpaolo (+0.3%), and Generali (+0.6%), as markets continued to track the ongoing banking consolidation.

Other notable gainers included luxury names Moncler and Brunello Cucinelli, both up more than 1%.