FTSE MIB Closes Higher

The FTSE MIB rose 1.6% to 52,372 on Monday, amid widespread positive sentiment as global oil prices declined for a fourth consecutive session. As a result, sovereign yields declined, providing some respite for financials. Banco BPM advanced 4.3% amid rumours of a joint venture by UniCredit (3.2%) and Credit Agricole, reflecting growing competition in the banking sector. Adding further support, EU officials stressed the need for greater scale among European banks in an increasingly competitive global economy. UniCredit reiterated the statement while confirming its commitment to Commerzbank and noting significant progress on the acquisition. Tech stocks outperformed, tracking an AI demand-driven rally, with STMicroelectronics (3%) and Prysmian (3%) advancing, while newly added index constituent Technoprobe (5.3%) led gains on the index. Ferrari also advanced, gaining 2.7%.