Italy’s FTSE MIB rose 0.8% to move above 46,100 in early Wednesday trading, extending gains for a second straight session, with financial stocks at the forefront of the advance.
Mediobanca shares jumped more than 8% after majority owner Banca Monte dei Paschi di Siena announced plans to delist the bank while retaining its brand. Monte dei Paschi di Siena itself gained 3.6%.
The broader financial sector also traded higher, with UniCredit up 1.2%, Intesa Sanpaolo 1.3%, Banco BPM 1.7%, BPER Banca 1.8%, and Banca Mediolanum 1.7%. Outside the banking space, defence group Leonardo advanced 2.5%.
Investors are now looking ahead to the release of minutes from the Federal Reserve’s latest meeting later in the day for further guidance on the US interest rate outlook. Geopolitical developments also remained in focus, with Iran reporting progress in nuclear talks with the United States, while peace negotiations between Ukraine and Russia continued.
