FTSE MIB Gains on Strong Earnings Outlook
The FTSE MIB increased by 0.8% to close at 41,935, driven by positive European corporate outlooks after the US-China tariff truce extension and the EU-US trade deal. Second-quarter earnings for European firms are projected to grow 4.8%, up from 3.1%. Notable gainers included STMicroelectronics (+4.4%), Stellantis (+3.2%), Unicredit (+1.5%), and Intesa Sanpaolo (+0.8%), while Campari (-1%) and Generali (-0.5%) saw losses.
The FTSE MIB rose 0.8% to close at 41,935 on Tuesday, boosted by improved European corporate outlooks following the 90-day extension of the US-China tariff truce and the EU-US trade deal.
Second-quarter earnings for European companies are now expected to grow 4.8%, up from 3.1% a week ago, according to LSEG I/B/E/S data.
On the data front, Italy's inflation rate was confirmed at 1.7%.
On the corporate front, STMicroelectronics led with a 4.4% gain, tracking European chip producers as US President Trump placed export levies on Nvidia and AMD. This followed by Stellantis (+3.2%).
Unicredit (+1.5%), and Intesa Sanpaolo (+0.8%) also gained.
Meanwhile, Campari (-1%) and Generali (-0.5%) posted losses.
