FTSE MIB Trades Higher

The FTSE MIB rose to around 50,700 on Monday, extending its rebound from the previous session after briefly hitting its lowest level since June. This comes as oil prices eased, offering some relief, while markets continued to assess broader fiscal and political uncertainty across the region. On the economic data front, fresh PMI surveys showed Italy’s services sector expanded at its weakest pace in three months in September and below expectations, while private sector activity also grew at the slowest pace since June. Across the bourse, Unipol rose 4.6%, while Bper Banca gained 2.0%, Tenaris advanced 1.3% and Intesa Sanpaolo added 1.1%. Meanwhile, Mediobanca plunged 7.6% after Intesa Sanpaolo sweetened its offer for Monte dei Paschi di Siena, with MPS’s largest shareholder Delfin backing the revised bid. Telecom Italia fell also 0.8%, while Prysmian and Snam declined 1.0% and 0.8%, respectively.