FTSE MIB Rises on Tuesday
The FTSE MIB rose nearly 1% to around 52,200 on Tuesday, as investors continued to largely shrug off higher oil prices and ongoing US-Iran tensions, while bond yields held at multi-year highs. Heavyweight financials were among the main drivers, with UniCredit gaining 1% after the Financial Times reported that CEO Andrea Orcel is preparing to take control of Commerzbank and overhaul its supervisory board as early as January. Intesa Sanpaolo, Generali, Banca Mediolanum and FinecoBank all rose over 1%, while Unipol advanced more than 2%. Mediobanca also gained 0.5% amid ongoing merger discussions with Monte dei Paschi di Siena (+0.8%). Technology stocks also supported the index, led by STMicroelectronics, up 2.6%, while Prysmian climbed 1.9% as renewed AI optimism lifted the European tech sector.
The FTSE MIB rose nearly 1% to around 52,200 on Tuesday, as investors continued to largely shrug off higher oil prices and ongoing US-Iran tensions, while bond yields held at multi-year highs. Heavyweight financials were among the main drivers, with UniCredit gaining 1% after the Financial Times reported that CEO Andrea Orcel is preparing to take control of Commerzbank and overhaul its supervisory board as early as January. Intesa Sanpaolo, Generali, Banca Mediolanum and FinecoBank all rose over 1%, while Unipol advanced more than 2%. 8%).
9% as renewed AI optimism lifted the European tech sector.