FTSE MIB Rises from 4-Month Low
The FTSE MIB rose above 49,700 on Friday, recovering some ground after hitting a more than four-month low in the previous session, as falling oil prices offered some relief to markets. US President Donald Trump said Washington would hold off on striking Iran before the November midterm elections, citing productive negotiations aimed at ending the conflict. Banking shares led gains, with UniCredit rising 1.2%, Intesa Sanpaolo gaining 0.8%, Banco BPM adding 1.4% and FinecoBank climbing 2.1%, as investors monitored ongoing consolidation in Italy’s banking sector. MPS faced opposition to its proposed acquisitions of Banco BPM and Banca Generali, while UniCredit’s takeover bid for Commerzbank remained in focus. Industrial and consumer stocks also advanced, with Ferrari up 1.8%, Stellantis gaining 2% and Buzzi rising 2.9%. Despite the intraday recovery, the benchmark was heading for a second consecutive weekly decline.
The FTSE MIB rose above 49,700 on Friday, recovering some ground after hitting a more than four-month low in the previous session, as falling oil prices offered some relief to markets. US President Donald Trump said Washington would hold off on striking Iran before the November midterm elections, citing productive negotiations aimed at ending the conflict. 1%, as investors monitored ongoing consolidation in Italy’s banking sector. MPS faced opposition to its proposed acquisitions of Banco BPM and Banca Generali, while UniCredit’s takeover bid for Commerzbank remained in focus.
9%. Despite the intraday recovery, the benchmark was heading for a second consecutive weekly decline.