FTSE MIB plunges 1.7% amid global security worries
The FTSE MIB fell 1.7% to 51,629, with declines across sectors including Prysmian and STMicroelectronics.
7% to 51,629 on Monday, amid mounting concerns over global security that reverberated across sectors. 5%) led the decline after major AI firms called for a slowdown in the boom of capital expenditure on the sector, citing safety concerns. Financial stocks also fell sharply. Expectations of rate hikes by major economies contributed to a surge in sovereign yields, while rising oil prices following the closure of Saudi Arabia’s East-West pipeline added to the pressure.
9% while stating that its buyout offers for BPM and Banca Generali cannot be revoked if Intesa Sanpaolo’s takeover bid goes through. Defense stocks underperformed as European leaders called for greater investment in Arctic defenses amid pressure from Russia. 8% as it considered selling its factory in Toronto, while Prime Minister Carney turned to the EU following the collapse of trade talks with the US.