Italian Stocks Close Higher

Milan’s FTSE MIB closed 0.9% higher at 49,628 on Tuesday, recovering from early losses as falling oil prices boosted sentiment across sectors. Tech shares led the rally, with STMicroelectronics (7.1%), Technoprobe (3.4%) and Prysmian (3.3%) extending gains from the previous session. Utilities distributors Snam (2.8%), Italgas (2.4%) and Terna (1.1%) gained as European gas prices remained elevated. However, prices eased mid-session, supporting broader utilities, including Hera (0.7%) and Enel (0.6%). Stellantis gained 0.5% as Canada and the US resumed trade talks on Canadian autos. Financials also moved higher as oil prices fell mid-session, while Milan's bank mergers comes back into focus ahead of MPS shareholders meeting on Thursday. Banco BPM led the sector, rising 2.6%, while its board announced it would skip the meeting. On the downside, ENI lost 2.6%. Luxury shares remain under pressure, with Moncler posting the steepest decline at 2.1%.