FTSE MIB Snaps 3-Day Gain

The FTSE MIB fell 1.09% to around 50,700 on Wednesday, ending a three-session winning streak and tracking broader European losses as investors remained cautious amid continued tensions in the Middle East. Oil prices rose amid escalating Saudi-Houthi tensions and a storm threat in the Gulf of Mexico, while higher bond yields also pressured sentiment. Banks led the decline, with BPER Banca down 1.9%, Banco BPM 1.7%, UniCredit 1%, Intesa Sanpaolo 0.9%, and MPS 0.8%. Industrials and technology also weighed, with Prysmian falling 2.7%, STMicroelectronics 1.6%, and Fincantieri 1.2%. On the flipside, gains were seen in Stellantis (+2%), Inwit (+1.9%), and Telecom Italia (+1.6%).