FX.co ★ Italian Stocks Rise for 2nd Day

The FTSE MIB index climbed 0.6% to approximately 35,200 during Tuesday's early trading, extending its gains for a second consecutive session. This upward movement was fueled by a worldwide relief rally, following comments from President Trump suggesting a possible temporary exemption for the auto industry from tariffs. On Monday, Trump mentioned he might adjust the 25% tariffs currently levied on foreign automobiles and parts. Nonetheless, his administration continued to advance plans for tariffs on semiconductor and pharmaceutical imports by initiating trade investigations. Meanwhile, investors are keenly anticipating the European Central Bank’s policy meeting on Thursday, where a 25 basis-point rate cut is largely expected by the markets. Automotive stocks notably led the surge, with Stellantis advancing 5%, Iveco increasing by 3.1%, and Pirelli gaining 2.7%. Defense and automotive company Leonardo also saw a 3.3% rise. Banks were also among the significant gainers.