Italian Stocks Close Higher

Milan’s FTSE MIB closed 0.9% higher at 49,948 on Monday, supported by easing risk sentiment as oil prices declined. Diplomatic efforts in the Middle East reduced fears of further escalation, pushing sovereign yields lower and offering relief to banks. At the same time, Italy’s banking game remained in focus as Intesa (1.1%) plans to launch its takeover bid for MPS (1.3%) by the end of the month, following MPS' shareholders’ rejection of an alternative strategy. Intesa would also gain control of Mediobanca (0.4%), in which MPS holds over 80%, as well as a roughly 13% stake in Generali (1.1%). Banco BPM fell 0.6%. Utilities advanced on lower European gas prices, led by Hera (1.2%), while tech stocks also gained, with STMicroelectronics up 3.2%. Buzzi led the index, rising 6.3% ahead of Thursday’s financial results. Conversely, energy stocks ENI (-2.3%), Saipem (-1.8%) and Tenaris (-1.7%) fell sharply, tracking lower oil prices.