FTSE MIB Closes Lower
The FTSE MIB fell 0.2% to 51,987 on Wednesday, amid merger talks in Milan, while concerns over the country’s budget deficit weighed on the index. Italy’s budget deficit was confirmed at 3.1% in 2025, above the EU’s ceiling, raising concerns over increased spending on defense and energy. However, Italy plans to confirm a commitment to bring its deficit below 3% this year. Meanwhile, sovereign yields increased following stronger-than-expected PMI data, raising bets of an ECB rate hike. Financials were mixed following reports that Italy will abstain from a vote at an MPS (0.4%) shareholder meeting to approve the defensive acquisitions of Generali-controlled (2.3%) Banca Generali and Banco BPM (1.2%). Intesa slipped 0.4%. On the upside, as global oil prices snapped a streak of consecutive declines, energy stocks advanced, led by Eni (2.8%). Defense Leonardo (1.1%) and Fincantieri (0.2%) outperformed. Avio rose 1.9% following upbeat revenue estimates from Intesa.
2% to 51,987 on Wednesday, amid merger talks in Milan, while concerns over the country’s budget deficit weighed on the index. 1% in 2025, above the EU’s ceiling, raising concerns over increased spending on defense and energy. However, Italy plans to confirm a commitment to bring its deficit below 3% this year. Meanwhile, sovereign yields increased following stronger-than-expected PMI data, raising bets of an ECB rate hike.
2%). 4%. 8%). 2%) outperformed.
9% following upbeat revenue estimates from Intesa.