FTSE MIB Extends Rally

Milan’s FTSE MIB rose more than 1% toward 52,000 on Tuesday, extending the rally from the previous session and reaching its highest level since late September, as investors continued to assess developments in Italy’s banking sector. Softer oil prices also helped boost market sentiment. UniCredit gained 2.2% amid expectations of unconditional EU antitrust approval for its acquisition of Commerzbank, while Banco BPM advanced 1.8% after Crédit Agricole proposed merging its Italian subsidiary with the lender, potentially creating Italy’s third-largest banking group. Technology and industrial stocks also provided support, with Technoprobe (+3.1%), Prysmian (+2.7%) and STMicroelectronics (+2.6%) leading gains. Investors now awaited third-quarter results from A2A, Banca Mediolanum, Recordati and Telecom Italia (TIM).