FTSE MIB flat to slightly lower around 52,000 as Middle East jitters persist
FTSE MIB traded flat to slightly lower near 52,000 as US and Iran continued strike exchanges. Investors also looked ahead to an ECB rate hike, while stocks were mixed across sectors and oil beneficiaries led.
Story updates
Stocks in Europe started the week cautiously, with the STOXX 50 and STOXX 600 both trading around the flatline as investors watched developments in the Middle East and Germany's political situation. The far-right AfD won a historic victory in state elections in Saxony-Anhalt, a setback for Chancellor Merz after the CDU posted its worst-ever result in Saxony-Anhalt since German reunification. Oil prices moved higher after renewed strikes involving the US and Iran, while investors also looked ahead to the ECB's monetary policy decision this week, with the central bank widely expected to raise borrowing costs.
Novartis fell more than 3% after its cholesterol drug failed to meet expectations in a closely watched study. 6%.