FTSE MIB Falls More Than 1%

Milan’s FTSE MIB fell more than 1% to below 49,400 on Tuesday, giving back gains from the previous session and tracking a broader decline in European equities as concerns over stretched AI valuations and persistent Middle East uncertainty dampened risk appetite. Technology stocks led the losses, with STMicroelectronics (-3.33%) and Technoprobe (-2.57%) among the worst performers. Industrial shares also weakened, including Tenaris (-2.80%) and Prysmian (-2.52%). Banks came under pressure as well, with UniCredit down 1.42% and BPER Banca losing 1.35%. Intesa Sanpaolo slipped 0.49% ahead of its third-quarter results due later today. Meanwhile, utilities showed relative resilience, with Terna gaining 0.60%, Hera adding 0.43% and Snam rising 0.40%. Lottomatica also gained over 2% after reporting a 5% year-on-year increase in third-quarter revenue.