FTSE MIB Plunges on Wednesday
The FTSE MIB plunged 2.5% to 49,972 on Wednesday, tracking a global selloff in bond markets that weighed across sectors. Sovereign yields came under renewed pressure amid concerns over debt sustainability, particularly in France, while elevated energy prices kept inflation risks in focus as tensions around the Strait of Hormuz persisted. Financial stocks underperformed as higher yields pressured banks, with UniCredit, MPS, Intesa Sanpaolo and BPER Banca falling between 3.6% and 4.2%. Technology stocks also declined sharply, mirroring broader sector losses, with Technoprobe leading the index lower at 6%, followed by Prysmian (-4.7%) and STMicroelectronics (-4.1%). Defense stocks weakened as well, led by Leonardo (-2.6%). Stellantis bucked the trend, rising 1.4% as the EU considers restrictions on Chinese hybrid imports to support European automakers, that have been pressured by surging sales from Chinese automakers.
5% to 49,972 on Wednesday, tracking a global selloff in bond markets that weighed across sectors. Sovereign yields came under renewed pressure amid concerns over debt sustainability, particularly in France, while elevated energy prices kept inflation risks in focus as tensions around the Strait of Hormuz persisted. 2%. 1%).
6%). 4% as the EU considers restrictions on Chinese hybrid imports to support European automakers, that have been pressured by surging sales from Chinese automakers.